Should you Buy Bed Bath & Beyond (BBBY) stock?

Bed Bath & Beyond, like most meme stocks, has terrible fundamentals, with a series of losses and fast-declining revenue. Technically, BBBY stock has been hot, but is greatly extended from moving averages and is now getting a lot of media attention. That's a sell signal, not a buying opportunity.

Should you buy BBBY stock?

The stock had shot up to a five-month high of 30 intraday Wednesday. BBBY stock had hit a 52-week low of 4.54 on July 27. If an investor is going to buy a meme stock, despite the enormous risks, they should look for buy points or key technical levels. BBBY stock arguably offered a super-aggressive entry on Monday, as it cleared the 200-day line.

What has happened to the BBBY stock price?

The BBBY stock price dropped to a low of $4.60 on 26 July 2022, before meme stock hype sent the price soaring to $23.08 on 17 August. However, news of Cohen’s SEC filing on 17 August weighed heavily on the stock in after-hours trading and the price lost 17% to $19.15 a share. As of 22 November, BBBY is trading at $3.17, down nearly 80% YTD.