Bed Bath & Beyond seeks $1B to avoid bankruptcy
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Source: retaildive.com
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Bed Bath & Beyond stock is likely to be "worthless" following the company's fundraising moves aimed at avoiding bankruptcy, Wedbush said Tuesday.
Hudson Bay Capital has essentially agreed to make sure the troubled retailer will sell roughly $1 billion in shares as it tries to avoid bankruptcy.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) are circling the drain and may fall through very soon.
Investors and analysts alike are increasingly optimistic about this business.