Shares of Bed Bath & Beyond Inc.
sank 6.5% in afternoon trading Thursday, to put them on track for an eighth straight decline. The losing streak comes after the stock rocketed 92.1% on Feb. 6, even amid growing concerns the home goods retailer was nearing bankruptcy. The stock then sold off after the Feb. 6 close, after the company announced plans to sell convertible preferred shares and warrants to buy common stock in an effort to stave off bankruptcy. During the current losing streak, which would be the longest since the nine-day stretch that ended Nov. 7, 2022, the stock has plunged 69.1%, to put it on track to close at the lowest price since Jan. 9. The stock has now lost 48.3% over the past three months and plummeted 88.8% the past 12 months, while the S&P 500
has gained 4.4% the past three months and lost 7.7% the past year.
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