What's Going On With Bed Bath & Beyond Stock?

Bed Bath & Beyond Inc BBBY shares are trading higher Tuesday. The stock has seen increased volatility over the last two weeks as the embattled retailer considers strategic alternatives, including potential bankruptcy. 

What To Know: The rally started after Bed Bath turned in third-quarter results earlier in the month. Despite reporting worse-than-expected results, the stock ripped higher.

On the conference call, CEO Sue Gove told analysts and investors Bed Bath has seen significant sales trend improvements. The company continues to work with advisers to consider all strategic alternatives, she added.

Multiple paths are being explored, and next steps are expected to be determined "in a timely manner," Gove said: "We are implementing our plan expeditiously while managing our financial position in a changing landscape."

Several reports have since indicated that Bed Bath is preparing for a restructuring. The retailer hired a new consulting firm as an advisor around the same time it reported quarterly results. The company also reportedly hired a legal advisor. 

Related Link: 12 Consumer Discretionary Stocks Moving In Tuesday's Pre-Market Session

Last week, Bed Bath announced that it received a notice from the Nasdaq saying the company is not in compliance with the requirements for continued listing because of a delayed Form 10-Q regarding its quarterly results. Bed Bath said it plans to file "as promptly as possible."

What Else: Bed Bath is a popular name among the retail crowd. The stock is trending across various platforms on Tuesday as traders point to high short interest in the name.

Bed Bath has a total float of 65.6 million shares. 58.77% of its float is currently sold short, according to data from Benzinga Pro.

Bed Bath & Beyond was among the most mentioned stocks on Reddit's r/wallstreetbets over the last 24 hours. 

Check This Out: A Massive Short Squeeze Is Underway: Bed Bath And A Few Favorites Are In Play

BBBY Price Action: Bed Bath & Beyond has a 52-week high of $30.06 and a 52-week low of $1.27.

The stock was up 16.3% at $3.42 at the time of writing, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.