Bed Bath & Beyond Inc. (NASDAQ:BBBY) has emerged among the most-discussed stocks on Reddit’s r/WallSteetBets forum as of early Tuesday.
What Happened: BBBY is seeing the second-highest interest on the forum with 572 mentions at press time, data from Quiver Quantitative showed.
Exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) and video game retailer GameStop Corp. (NYSE:GME) are in the first and third positions, respectively, having attracted 660 and 251 mentions.
BBBY is also trending in the fourth spot on Stocktwits.
See Also: How To Buy Bed Bath & Beyond (BBBY) Stock
Why It Matters: Bed Bath & Beyond shares surged more than 34% in Monday’s regular trading session after GameStop chairman and Chewy Inc. (NYSE:CHWY) co-founder Ryan Cohen said he has acquired a 9.8% stake in the company.
Cohen said in a letter to Bed Bath’s board he believes the retailer should explore strategic alternatives that include separating Buybuy Baby chain and a full sale of the company.
Price Action: Bed Bath shares closed 34.2% higher in Monday’s regular trading session at $21.71, but fell almost 2.2% in the after-hours session to $21.24.
Read Next: Chewy, GameStop, Bed Bath & Beyond: How Have Ryan Cohen's E-Commerce Bets Performed?
