NEW YORK—Shares of Bed, Bath & Beyond Inc. rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller might be a potential acquisition target.
Shares of the company were last up 35 percent at $1.77, on track for their biggest one-day percentage surge since Aug. 8.
As of mid-day, traders had exchanged $114 million worth of the Bed, Bath & Beyond’s shares, nearly matching the company’s entire stock market value of $157 million, according to Refinitiv data.
Online retail stock forums, including Reddit, have been buzzing about a possible M&A deal, fueling a buying frenzy reminiscent of the “meme stock” phenomenon of 2020, in which shares of troubled companies such as GameStop Corp. and AMC Entertainment Holdings soared amid viral interest on forums such as WallStreetBets….