2/2, 8:04 PM (Source: TeleTrader)
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Bed Bath & Beyond soars over 25% in another meme stock rally

The shares of Bed Bath & Beyond Inc. skyrocketed on Thursday despite yesterday's failure to make interest payments on its bonds, and the recent announcement by the company that it may go into bankruptcy, a second statement of that type in a month.

The upsurge seems to have been triggered once again by the so-called meme stock rally, an event that occurs when shares of a company gain popularity on social media in a supposedly coordinated move to cause losses to short sellers. The effort is largely aimed at exposing volatile "manipulative" or "abusive" trading, urging improvement of regulation.

Bed Bath & Beyond's shares shot up 25.53% at 1:57 pm ET. A minute later, the shares of other prominent meme stocks, AMC Entertainment Holdings Inc. and GameStop Corp. surged 12.98% and 6.69% respectively.

Baha Breaking News (BBN) / MX