Bed Bath & Beyond's Reverse Stock Split Plan Causes Share Drop
TL;DR Summary
Bed Bath & Beyond plans to seek shareholder approval for a reverse stock split at a ratio in the range of 1-for-5 to 1-for-10, with the final ratio to be decided by the board. The struggling retailer's shares dropped 13% in extended trading following the announcement. The move is intended to generate greater investor interest in the company and enable it to continue rebuilding liquidity to execute its turnaround plans.
Topics:business#bed-bath-and-beyond#finance#liquidity#reverse-stock-split#shareholder-approval#struggling-retailer
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