Shares of Bed Bath & Beyond (BBBY.US) were gaining as much as 10% at the beginning of today's session, however, sentiment has now turned upside down and BBBY shares are losing 7%. The company will publish its strategic update tomorrow.
Recall that the media reported a week ago that financing had been found to resolve liquidity problems.
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Open account Try demo Download mobile app Download mobile appThe sell-off fueled by high volume may mean that investors are worried about the materialization of the saying: "buy the rumors, sell the facts." At this point, it seems the company needs a fair amount of internal change to renew customers' faith, especially in the face of dismal financial results.
Source: xStation 5
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