The Chicago Entrepreneur

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

Shares of Bed Bath & Beyond Inc. BBBY 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 has gained 8.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post : Bank of America stock up as it beats profit mark
Next post : Johnson & Johnson beats Q1 consensus estimates and raises guidance