Who could have seen this coming? “High Bullish, Hedgies are F’ed!” Reddit BBBY https://finance.yahoo.com/news/bed-bath-beyond-inc-receives-205300303.html
I remember trading that stock damn near every day in the late 90s. It was liquid and it was volatile.
The 1990s-2000s typical retail neighborhood shopping center (non Mall): Kohls AMC Theaters GameStop Bed Bath and Beyond Sports Authority Office Depot Gap/Old Navy Michaels Christopher & Banks New York and Company Cold Stone Creamery Pier One Imports Uno Pizzeria & Grill TGI Fridays This shopping center grouping gained immense expansion and growth during the 2003-2008 real estate bubble (hello zero interest rates) So many wonderful short opportunities. BBBY probably the best, although AMC and GameStop provided some interesting trades. Its too bad they did not SPAC some of these pigs at the height of the 2021 bubble. Would have been some amazing shorts Kohls looks like the "Next Logical Step" for a short to zero. RIP Retail...penny for your thoughts
Bed Bath & Beyond investors have spent $200 million trading ‘worthless’ shares — will this holding company help them? Bed Bath & Beyond filed for Chapter 11 bankruptcy protection in April, but the stock continues to attract meme-like attention https://www.marketwatch.com/story/b...-will-this-holding-company-help-them-3a7fd59c
There is a gentle descending trendline on the chart. Who managed to short it at $10? They should be laughing all the way to the banks.
One explanation for this is the high demand for shorting AMC, which ultimately may turn against short sellers. Recently, borrow fees for AMC shares have reached above 570%, implying an increased risk for those betting against the stock in case of an upward movement. https://www.thestreet.com/memestocks/amc/shorting-amc-stock-ape-conversion-risky-proposition