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External shower bed (NASDAQ:BBBY) tear a 59% reached in trading Monday afternoon even as the retailer recently said it missed payments to creditors and could file for bankruptcy at some point.
Bloomberg has also reported that former employees have not been paid the severance payments they owe them.
More than 92 million shares of BBBY were swapped on Monday compared to the normal operation of about 37 shares. That sky-high volume is still over an hour of trading left. After a dramatic few weeks, it remains unclear whether the retailer will survive without filing for bankruptcy, restructuring with some properties sold, or liquidating assets entirely and shutting down.
Shares of BBBY jumped to their highest levels since January 12 with Monday. Notably, more than 92 million shares of BBBY were swapped in the remaining one hour of trading. The frenzied trading on BBBY coincided with a short exciting moment that accounted for more than 45% of all floats.
Seeking Alpha contributor Ryan Glover recently posted a detailed analysis of what will happen in a Bed Bath & Beyond goes bankrupt.
