Return of the meme stock: Bed Bath & Beyond shares skyrocket

NEW YORK (AP) — After a quiet first half of 2022, the meme stock is back. Beyond and back, in fact. Shares in Bed Bath & Beyond jumped another 12% Wednesday afternoon on huge trading volume. The mall-based home goods retailer’s stock has quadrupled in a little more than two weeks. For a while on Wednesday, it was on pace to close a fourth straight day with a gain of more than 20%. The inexplicable recent rise — a hallmark of so-called meme stocks — comes as Bed Bath & Beyond continues to lose money on plummeting sales as it struggles to navigate the post-pandemic retail landscape.