“Anyone who buys and holds the stock of a bankrupt entity is almost assuredly going to lose their money,” says bankruptcy lawyer Howard Ehrenberg.
The recent movement in Bed Bath & Beyond Inc.’s stock has shone a spotlight on the attraction that bankrupt companies hold for some investors.
Bed Bath and Beyond’s BBBYQ shares have risen 30.7% in the last month, outpacing the S&P 500’s SPX gain of 2.9%, despite the bankrupt home-goods retailer’s well-documented woes. Bed Bath & Beyond filed for Chapter 11 bankruptcy protection in April and was subsequently delisted from the Nasdaq exchange. Trading over the counter since May 4, with liquidation sales under way at hundreds of stores, the stock nonetheless continues to attract attention. Since the bankruptcy filing, investors have spent almost $200 million trading “theoretically worthless” shares, the Financial Times reports.
Related: Bed Bath & Beyond investors have spent $200 million trading ‘worthless’ shares — will this holding company help them?
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hollywood Litigation Firm Drops Late Howard Weitzman’s Name in RebrandThe late attorney co-founded Kinsella Weitzman in 2006, and his family views the change as an attempt to erase his legacy.
Read more »
N.J.’s Al Rosenberg, ‘Howard Stern Show’ writer and comedian, local councilman, dead at 78The longtime Jersey resident joined the 'Stern Show' when it was on WNBC.
Read more »
Hollywood Litigation Firm Drops Late Howard Weitzman’s Name in RebrandThe late attorney co-founded Kinsella Weitzman in 2006, and his family views the change as an attempt to erase his legacy.
Read more »
Dwight Howard claims he was better in prime than Nikola Jokic is nowForget MVP status, Dwight Howard is still betting on himself.
Read more »
10 Things Anyone Who Played With Barbie Dolls In The '90s Will Relate ToI was a Barbie girl for sure.
Read more »