Bed Bath & Beyond’s stock hits record low as troubled retailer pushes for reverse stock split

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Bed Bath & Beyond’s stock hits record low as troubled retailer pushes for reverse stock split
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Bed Bath & Beyond’s stock fell to a record intraday low Thursday as the troubled home-goods retailer continues its push for a reverse stock split. $BBBY has fallen 87.7% in 2023, compared with the S&P 500’s gain of 6.8%:

Bed Bath & Beyond Inc.’s stock fell to a record intraday low Thursday as the troubled home-goods retailer continues its push for a reverse stock split.

Related: Bed Bath & Beyond calls for May 9 shareholder meeting to vote on reverse stock split proposal It has been a tumultuous few months for the retailer and sometime meme-stock company, which announced an equity offering earlier this year in an attempt to stave off bankruptcy. That came after a turbulent couple of years marked by strategic missteps, cash burn, challenging underlying business trends and the impact of the COVID-19 pandemic. Bed Bath & Beyond’s stock sank to a record low last week after the company gave a sales warning.

Related: Bed Bath & Beyond has launched a ‘Hail Mary pass’ with latest partnership, says retail expert

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