If you’re looking to purchase retail stocks, you should probably know what went on in the sector today. On Tuesday, July 25, Bed Bath & Beyond (NASDAQ:$BBBY) traded on high volume – which is quite unusual for the company – as the stock increased 0.5% to close at $28.31.
Bed Bath & Beyond witnessed 36.79 million shares trade hands on 47,498 trades. Seeing as the stock averaged a daily volume of 4.05 million shares a day over the past month, this represents a significant bump in volume.
For the most part, when a stock undergoes a sudden spike in trading volume, some might take that as a bullish signal for investors. For those new to the stock market, an increase in volume means more market awareness for that company, which could set up a more meaningful move in stock price. Additionally, the added volume can provide a level of support and stability for price advances.
Over the last 52 weeks, BBBY stock has traded between $48.83 and $28.13. It’s 50-day SMA is now sitting at $32.69, and its 200-day SMA is $38.78. As of right now, the New Jersey-based company has a P/B ratio of 1.53 and a price to earnings ratio of 6.5.
At the time of writing, if you were to look at the NASDAQ ‘Most Active by Share Volume’ table, you would see Bed Bath & Beyond in the number 4 spot, right above Microsoft Corporation (NASDAQ:$MSFT).
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