5 Hottest Stocks to Watch on Wednesday

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In this article, we take a look at five stocks that are trending today. If you want to take a look at some more stocks that are moving and the latest market situation, go to 10 Hottest Stocks to Watch on Wednesday.

5. Bed Bath & Beyond Inc. (NASDAQ:BBBY) is down 0.28% as of 12:30 PM ET due to the mixed Q1 2022 results earlier today. Revenue was posted at $2.05 billion, declining by 21.8% YoY and missing the consensus estimate of $2.08 billion. Moreover, Bed Bath & Beyond Inc. (NASDAQ:BBBY) reported a surprise loss per share of 95 cents as opposed to a forecast profit of three cents per share. Comparable sales declined by 12% during the three months, higher than the consensus estimate of a drop of 8.5%. Adjusted gross profit contracted by four ppts to 28.9% compared to the analysts’ estimate of 32.9%. Bed Bath & Beyond Inc. (NASDAQ:BBBY) cited a lack of inventory as the reason for the contraction.

As of Q4 2021, 17 hedge funds had a stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY).

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