Bed Bath & Beyond (NASDAQ:BBBY) was recently on the brink of bankruptcy as it was being crushed by its large debt load. Nevertheless, in a last-ditch effort to save the company, management was able to secure roughly $1 billion in financing, which is to be paid out in installments.
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Today, BBBY received $135 million of the proceeds, which, when combined with the $225 million it already received last month, equates to a total of $360 million of financing so far. Nevertheless, the stock is down in today’s trading session.
Overall, BBBY stock has a Strong Sell consensus rating based on six Sells assigned in the past three months. With an average price target of $1.21, Wall Street expects more than 7% downside potential, as indicated by the graphic above.
