Shares of Bed Bath & Beyond Inc. jumped Wednesday, reviving a favorite meme-stock trade among individual investors.
The home-goods retailer’s stock soared in the morning, climbing as much as 54%, before settling up 15% to end at $19.30. The move followed a series of Tuesday afternoon announcements from the company, including that it expects to complete its $1 billion share-repurchase plan two years ahead of schedule by buying a remaining $400 million of stock this year. The company also said it was launching a new digital marketplace and announced that supermarket operator Kroger Co. would begin offering some Bed Bath & Beyond products on its website and in some stores starting next year.
