Bed Bath & Beyond stock surges, to extend bounce off record low

Shares of Bed Bath & Beyond Inc.
BBBY,
+17.64%
extended their bounce on Tuesday, as they rallied 13.8% in premarket trading. The troubled home-goods retailer’s stock had shot up 17.6% on Monday, after closing at a record low of 24 cents on Friday. The stock had tumbled 22.6% in three days to Friday, after the company disclosed the sale of more than 100 million shares for about $48.5 million in proceeds. The company could sell up to $300 million worth of stock, under the program. The stock has plummeted 88.8% year to date through Monday, while the S&P 500
SPX,
+0.33%
has gained 8.1%.