One of the truest sayings in the world, "what goes up must come down" was once again proven to great effect yesterday as the WallStreetBets subreddit had one of its favorite meme stocks (Bed Bath & Beyond) start to see impressive gains in pre-market as rumors of a short squeeze quickly coalesced into a rocket to the moon.
The stock, which WSB affectionately call "BoBBY," would then climb from just over $3 to well over $6 in the span of six hours, causing an overabundance of posts talking about their earned tendies and when they bought in.
Nailed it!! 8am this morning I alerted #BBBY pic.twitter.com/B2Cj1igy40
— Mike Tyche (@MikeTyche) February 6, 2023
wait until company is cheap
bind company to sell less than majority share of company
b4 the binding purchase, buy enough at market that the purchase of the binding non-majority plus the at market purchase becomes a majority
profit/hedgies r fuk#bbby #baby #teddy #gme pic.twitter.com/BNog43tFmF
— a Victor in California 🦇🔊 🐼 (@yourboyvic) February 7, 2023
$AMC halted at 19.5%. $BBBY up 130% no halts.
— ChaoticGood42 (@ChaoticGood42) February 6, 2023
Yesterday, #BedBathandBeyond (#BBBY) went up 125%. Then in after hours trading it crashed back down to just about where it started.
If you learn anything from me, please learn to stay away from trash companies that are used for pump and dumps. This same thing applies to crypto. pic.twitter.com/XDGDeQtCSD
— Jesse Dow (@JesseLeeDow1) February 7, 2023
As the stock neared over a 150 percent increase, trading on it was halted and quickly stopped its upward momentum, effectively starting the reaction of it coming back down from the moon.
Once the market turned over into aftermarket hours, in which the majority of traders are unable to execute proper trade procedures, the stock quickly plummeted back down in value until the majority of the profits and cries for HODLing evaporated into thin air.
This triggered a very localized and large GUH within the community, with many quickly clinging to any news of the company that could indicate the price going back up while many posted memes or comments about huffing vast amounts of hopium.
Everyone long $BBBY tonight and watching after hours trading (-40%) pic.twitter.com/uqvnTBwOni
— Kenny Lay (Parody) (@EnronChairman) February 7, 2023
$BBBY Same algo, Same bullshit #bbby Same set up as Jan 2021 pull back before massive run up. Thanks, hedgie for delicious dip!😋 pic.twitter.com/QmjYbaJNK1
— Nicholas Hong (@nickong1205) February 7, 2023
Bbby – an ugly, perfect bull trap. Never fall for fake fomo run ups. Alway sell 30 min before close to lock in at the top. Buying puts at the end of thr day was a perfect play pic.twitter.com/REbmUf50rE
— Froggystyles (@jeremyphilips8) February 7, 2023
looks like the 8k filed this morning says no equity dilution for 90 days (except for you carl) $bbby
i expect we’ll see the LBO before then anyway. pic.twitter.com/t7BcOahEqi
— David Simpson 🏴☠️🐗 (@pirateportfo) February 7, 2023
In early 2021, the notorious GameStop short squeeze propelled the WSB subreddit into the limelight as it became an international sensation, but whether or not Bed Bath & Beyond's stock will have the same result remains to be seen.
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