Bed Bath & Beyond said on Tuesday it would lay off more employees to cut costs after reporting a biggerThe struggling U.S. home goods retailer's shares last week hit their lowest since early 1990s after the company announced its intent toShort interest in Bed Bath & Beyond is $82.7 million, or 52.07% 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% of the volume. In a sign that traders expect the shares to remain highly volatile in coming days, the stock's 30-day implied volatility, a gauge of how much traders expect the stock to swing in the near term, was at 330%, about the highest in at least four years, Trade Alert's data showed.
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