Is anyone paying attention to BBBY stock over the past few weeks? Stock prices have been flipping back and forth each day due to the Company trying to stabilize the stock price by buying back shares after every day of a loss. Today stock took quite a hit, so you can bet that tomorrow stocks will be reporting a gain to compensate for today’s loss. This isn’t a healthy sign, when the Company is constantly having to buy back shares to keep a stable stock price.
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Yes, I have been noticing this whipsawing. The sales at my B+ volume store in Arizona are down 6%; when, not if, the comparables prove management wrong on the promised turnaround, the stock will be crushed into oblivion. Part-timers are quitting in droves, why would you go to your job with 5 hours for the week?