Bed Bath & Beyond stock (NASDAQ:BBBY) rallied by almost 70% in after-hours trading on Tuesday. The gains come as the company put out a series of press releases indicating that its home and baby products would be available in various Kroger stores and online starting from 2022, and also that it plans to launch a digital marketplace.
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While the new plans are positive, it’s more likely that the stock price gain was driven by a short squeeze, considering that Bed Bath & Beyond is among the most heavily shorted stocks in the U.S. market.
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