Bed Bath and Beyond $BBBY Collapsing, Dumpster Fire, Could Go Bankrupt In Months

Get Email Alerts and Follow Us:
SOCIALICON

Bed Bath & Beyond Inc. $BBBY is in deep trouble as institutional investors target the failing company. Several months ago, I named this stock on the Saturday Show as a possible bankruptcy later this year as the economy collapses into a recession. That prediction now looks to be playing out.

Loop Capital’s Anthony Chukumba said, “Yes, we are looking at a situation in which this company is probably not going to be around, but no, it’s not going to take years. We could be talking about months at this point. We are in the end days. These results were a dumpster fire,” Chukumba said. Bed Bath & Beyond’s quarterly results showed that the company is “clearly” headed for bankruptcy.

The home furnishings retailer reported a fiscal first-quarter revenue decline of 25% year-over-year, which came in below estimates. Bed Bath & Beyond reported a quarterly adjusted earnings loss of $2.83 per share, which also missed the forecast for a loss of $1.39 per share.

A large institutional investment firm targets the stock with a substantial short position.

Looking at the options history for Bed Bath & Beyond (NASDAQ: BBBY), we detected 23 unusual option volume trades, and 78% of those were bearish.

From the overall spotted trades, 19 are puts for a total amount of $1,333,576.

Bbby Put Options

This is the first of many bankruptcies that we will see slam into the U.S. economy as the Federal Reserve hikes interest rates to combat hyperinflation as countries around the planet move away from U.S. dollar reserves.

Get Email Alerts and Follow Us:
SOCIALICON