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Business

Bed Bath & Beyond Rises Another 22% Premarket To Lead Meme Shares; AMC and Revlon are pulling back a bit




Meme makes Bed Bath & Beyond Inc. BBBY,
+29.06%
rose another 22% in premarket trade on Wednesday, extending earlier gains and a winning streak that has seen it rise 59% for the week to date. Tuesday’s rally came even as yet another Wall Street analyst downgraded the stock to sell and warned investors of “unrealistic” valuations. “BBBY has recently caught the attention of retail traders in the Wall Street Bets Reddit forum again, which came to light during the GameStop saga back in January 2021[ads1],” B.Riley analyst Susan Anderson wrote in a note to clients. “We believe BBBY is currently trading at unrealistic values.” GameStop Corp. GM,
+6.33%
the stock rose 1.3% before the market. Other recent meme stock successes were lower, with AMC Entertainment Holdings Inc. AMC,
+2.48%
down 0.3% and bankrupt cosmetics company Revlon Inc. REV,
-0.93%
down 1.5 percent.



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