"Memesters and Investors Bet $200 Million on Bankrupt Bed Bath & Beyond Shares"
Despite filing for bankruptcy and selling its brand, Bed Bath & Beyond's shares have been actively traded by meme-stock fans, with over $200 million worth of shares traded since early May. The stock, which is now delisted and trading on the over-the-counter market, is likely worthless, as bondholders are typically prioritized over stockholders in bankruptcy proceedings. The company's bleak outlook and lack of a well-known brand make a comeback unlikely. However, meme-stock fans have tripled the stock price without a clear nemesis, as there are no institutions shorting the stock.