Bed Bath & Beyond, the Union-based home goods retailer, is headed toward bankruptcy protection by almost every measure.
Except, perhaps, its stock price.
The company, like Gamestop and AMC, became a favorite of online traders last year, when it jumped to $27.23 on March 29 and then — after giving back most of the gains — jumped to $23.08 on Aug. 23. It struggled to stay above $5 all winter.
Last week, it had a smaller resurgence, jumping from its low of $1.31 on Jan. 6 to $5.24 at the close of the market Thursday (an increase of nearly approximately 300%). The stock was back down to $3.66 by the close on Friday — and fell more during after-hours trading.
Those wild rises and falls are nothing compared to Gamestop, which went from under $5 to over $81 in January 2021. Gamestop, quickly lost most of those gains, but not all of them. It closed Friday at just over $20.
There appears to be a different fate in store for Bed Bath & Beyond.
The company, which reported losses of nearly $400 million last week, indicated it could enter Chapter 11 bankruptcy protection within weeks.