Business Maverick: Bed Bath & Beyond Jump Brings Some Meme Frenzy to Broad Rally

The home-good retailer has nearly tripled over a nine-day winning streak while the movie-theater firm is riding a more than 75% rally of its own as speculative pockets of the stock market surge. The pair have powered a basket of 37 meme stocks tracked by Bloomberg higher by 12% over the past week while the most-hated stocks tracked by a Goldman Sachs Group Inc. basket is up nearly 20% over the same period.

Bed Bath & Beyond’s taking of the meme stock baton, rising 63% at one point on Monday as the stock became the most bought asset on Fidelity’s platform. AMC Entertainment saw the second most purchases while both company tickers were the most mentioned on Reddit’s WallStreetBets platform.A basket of meme stocks tracked by Bloomberg rose 5.4%, extending a six-day rally of its own. The top performers behind Bed Bath & Beyond and AMC Entertainment were GameStop Corp. and Express Inc.

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