Bed Bath & Beyond's Stock Plummets Amid Funding and Reverse Stock Split Woes

Bed Bath & Beyond's stock remains under $1, putting the home goods retailer at risk of losing additional funding from hedge fund Hudson Bay Capital Management. The struggling retailer reached an amended agreement with Hudson last week to temporarily lower the stock price threshold to $1 until April 3, allowing for up to $100 million additional funding in April 2023. Bed Bath & Beyond last month said it was planning to raise some $1 billion through a complex offering of preferred stock and warrants in an effort to avoid bankruptcy.