Shares of Bed Bath & Beyond Inc. tumbled 12.3% in morning trading Friday, but that may seem like just a drop in the bucket considering the record four-day rocket ride they just enjoyed. Trading volume ballooned to 62.9 million shares, compared with the full-day average over the past 30 days of about 35.6 million shares. After the home goods retailer’s stock closed on Jan. 6 at $1.31, which was the lowest closing price since August 1992, amid growing expectations of a bankruptcy filing, it just took off in a “meme squeeze”-like rally of 300.0% in four days, the best four-day performance on record, which included a record one-day rally of 68.6% on Jan. 11. Meanwhile, the stock was still down 10.8% over the past three months, while the S&P 500
SPX,
has gained 8.1%.
