![]() ![]() “Trading prices for the Company’s securities may bear little or no relationship to the actual recovery, if any, by holders of the Company’s securities in the Chapter 11 Cases,” Bed Bath & Beyond said. ![]() ![]() The reality of that happening is slim, and Bed Bath & Beyond has made that clear in its SEC filing. That’s because Overstock is also changing its stock market ticker from OSTK to BBBY to further ingratiate itself in the household name brand. The BBBYQ (the ‘Q’ indicates the company is being liquidated) shares, which have reached memestock status among retail traders, are only trading for around 20 cents as of today, but it’s possible hobby investors think there’s a chance the stock will pick up. New Nasdaq data showed there were 15 million transactions for the disappearing retailer on August 16 alone. But there’s still a tremendous amount of interest in Bed Bath & Beyond stock, even though the shares are mere weeks away from becoming worth absolutely zilch, zip, nada. Given the situation, Bed Bath & Beyond’s stock should be naturally petering out. Why is Bed Bath & Beyond’s stock so volatile? The main reason? According to Johnson, Bed Bath & Beyond’s customer list is roughly double the size of Overstock’s, so the brand has a captive audience to capitalize on. Wall Street was enamored with the announcement, with Overstock’s share price sailing 6.5% higher. Overstock also didn’t purchase Bed Bath & Beyond’s brick-and-mortar stores, just the trademarks, patents and website domains as the brand moves to online only.Īt the time, Overstock’s CEO Jonathan Johnson said about the name change that “The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the company for accelerated market share growth”. In an unusual move, Overstock has decided to shed its name in favor of using Bed Bath & Beyond’s brand capital. After a bidding process, e-commerce giant declared itself the new owner of the ailing brand in July for $21.5 million. After months of struggling and fundraising efforts to keep the company afloat, Bed Bath & Beyond filed for Chapter 11 bankruptcy in April. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |