Shares of Bed Bath & Beyond (NASDAQ: BBBY) continued to tank in pre-market trading on Monday after the retailer said that it plans to hold a special meeting for shareholders to seek their approval for a reverse stock split in the range of 1-for-5 to 1-for-10. BBBY stated that “Holders of record of the Common Stock as of the close of business on March 27, 2023, will be entitled to notice of and to vote at the special meeting.”
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BBBY stock has already tanked by more than 60% in the past three months.
