Shares of troubled domestic merchandise provider Bed, Bath & Beyond (NASDAQ:BBBY) continue to stay in the spotlight with wild gyrations. After surging nearly 41.6% over the past five sessions, BBBY shares are up a further 24% in the premarket session today already.
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The price gains come after the company recently raised $48.5 million from a stock offering of 100.1 million shares. Moreover, the company is aiming to stave off bankruptcy and is looking to raise $300 million by April 26.
Consequently, ‘diamond hand’ traders are betting if the company survives or bites the dust. The average trading volume in BBBY shares has jumped from 80.17 million in the past three months to nearly 307.2 million. At the same time, short interest in the stock remains sky-high at about 17.5% at present.
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