Bed Bath & Beyond soars 60% as meme stocks continue getting short squeezed
Bed Bath & Beyond’s stock
Retail traders sold $746 million worth of Tesla shares
Retail traders unloaded $746 million worth of Tesla shares over the past week, bringing the total outflow over the last three weeks to $2.1 billion, according to data from JPMorgan.
It comes even as investors piled back into stocks, buying $1.2 billion worth of equities in the past week. That included $157 million of Amazon shares and $102 million of Apple. Retail traders dumped just $19 million worth of single stocks during the period.
“Selling was largely concentrated within Autos (mostly TSLA) with broad based buying in other industries including Retailing (e.g., AMZN, HD), Media/Entertainment (e.g., GOOGL, NFLX, CMCSA) and Tech Hardware/Equipment (mostly AAPL),” the firm said.
— Samantha Subin
Bank stocks quiet ahead of earnings
Major bank stocks are experiencing a calm session on Thursday ahead of a flurry of earnings reports that begin on Friday morning.
Among the banks reporting tomorrow, Citigroup is the day’s best performing stock, adding 1.1%. JPMorgan Chase, Bank of America and Wells Fargo are all up less than 1%.
Looking ahead to next week’s reports, shares of Goldman Sachs are up 1%, and Morgan Stanley has gained nearly 2%.
— Jesse Pound
Stocks on track for another day of gains entering final hour
With one hour of trading left, the three major indexes remain on pace for daily gains.