Bed Bath & Beyond said on Tuesday it would lay off more employees to cut costs after reporting a bigger-than-expected quarterly loss.
Short interest in Bed Bath & Beyond is $82.7-million, or 52.07 per cent of its free float, analytics firm S3 Partners said. “If bankruptcy is not in BBBY’s future, its rallying stock price will force short sellers to rush to the doors to retain some of the mark-to-market profits they earned in 2022,” said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
Much of the trading interest was concentrated in near-dated options, with contracts expiring on or before Jan. 20 making up about 70 per cent of the volume.
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