{"id":1595648,"date":"2022-08-09T06:01:34","date_gmt":"2022-08-09T10:01:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1595648"},"modified":"2022-08-09T06:01:40","modified_gmt":"2022-08-09T10:01:40","slug":"meme-stocks-are-going-wild-again","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/meme-stocks-are-going-wild-again\/","title":{"rendered":"&#8220;Meme Stocks&#8221; Are Going Wild Again"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmeme-stocks-are-going-wild-again%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1595648&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Bed Bath &#038; Beyond and AMC Entertainment surged as meme traders seemed to be betting on the stock despite the lack of any apparent catalyst.<\/li>\n<li>The heavily shorted stocks have been a part of the meme stock craze that has hit Wall Street in recent years.<\/li>\n<li>GameStop shares also rose Monday.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107082121\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">A view of a Bed Bath and Beyond store in Daly City, California.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Justin Sullivan | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/BBBY\" target=\"_blank\" rel=\"noopener\">Bed Bath &#038; Beyond<\/a> and <a href=\"https:\/\/www.cnbc.com\/quotes\/AMC\" target=\"_blank\" rel=\"noopener\">AMC Entertainment<\/a> surged Monday as meme traders seemed to be betting on the stock despite the lack of any apparent catalyst for the move.<\/p>\n<p>Shares of both heavily shorted stocks closed up nearly 40% and 8%, respectively. <a href=\"https:\/\/www.cnbc.com\/quotes\/GME\" target=\"_blank\" rel=\"noopener\">GameStop<\/a> also climbed 8.6%. At one point in the session, Bed Bath &#038; Beyond shares soared as much as 63%. Bed Bath &#038; Beyond shares posted their biggest one-day gain in more than a year.<\/p>\n<p>As of midday Monday, Bed Bath &#038; Beyond was the most searched name on Reddit&#8217;s WallStreetBets discussion board, <a href=\"https:\/\/www.quiverquant.com\/wallstreetbets\/\" target=\"_blank\" rel=\"noopener\">according to Quiver Quantitative<\/a>. Users under a pinned thread titled &#8220;GME, BBBY and AMC Memestock Megathread for Monday August 8th, 2022&#8221; appeared to be buying up shares of the retail stock.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"ChartSlate-chartSlateContainer\">\n<h3>Loading chart&#8230;<\/h3>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>One user said they &#8220;took out a 27k loan, went all in on BBY,&#8221; which a group moderator seemed to confirm. Another user (TheDude0007) alleged to have capitalized on the BBBY spike, turning $45,000 into almost $450,000 using common stock and call options.<\/p>\n<p>All three stocks have been a part of the meme stock craze that has hit Wall Street in recent years and driven these names higher as investors bought up shares and forced short sellers to attempt to cover their losses, creating what&#8217;s known as a &#8220;short squeeze.&#8221; According to data from FactSet, a whopping 46% of the stock&#8217;s float is sold short.<\/p>\n<\/div>\n<div class=\"group\">\n<p>As many retailers cope with\u00a0<a href=\"https:\/\/www.cnbc.com\/2022\/07\/26\/walmarts-slashed-profit-outlook-sends-warning-about-state-of-the-american-consumer.html\">inflation-wary consumers<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.cnbc.com\/2022\/06\/07\/target-markdowns-plan-to-cut-inventory.html\">excess inventory<\/a>, Bed Bath &#038; Beyond has struggled to reverse declining sales,\u00a0<a href=\"https:\/\/www.cnbc.com\/2022\/08\/05\/bed-bath-beyond-discontinues-wild-sage-private-brand-as-it-tries-to-improve-sales.html\">fix its merchandising strategy<\/a> and gain back customers who have fled to its competitors. It&#8217;s also been searching for a new leader after the board announced in late June that <a href=\"https:\/\/www.cnbc.com\/2022\/06\/29\/bed-bath-beyond-bbby-q1-2022-earnings.html\">CEO Mark Tritton had left the company.<\/a><\/p>\n<p>At the same time, the Union, New Jersey-based home goods retailer has also been burning through cash as its net losses grow. While the company has not provided a forecast, it said it expects same-store sales trends to improve after plummeting 24% year over year in the quarter ended May 28.<\/p>\n<p><em>\u2014 CNBC&#8217;s Melissa Repko and Jack Stebbins contributed reporting.<\/em><\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"denied:data:image\/svg+xml;base64,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\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bed Bath &#038; Beyond and AMC Entertainment surged as meme traders seemed to be betting on the stock despite the<\/p>\n","protected":false},"author":1,"featured_media":1611828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1595648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1595648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1595648"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1595648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1611828"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1595648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1595648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1595648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}