Bed Bath & Beyond shares crater after meme stock files share offering of undisclosed amount

Signage outside a Bed Bath & Beyond retail store in New York, Aug. 25, 2022.

Gabby Jones | Bloomberg | Getty Images

Bed Bath & Beyond shares dropped after the retailer turned meme stock said in a filing it would sell shares of an undisclosed amount.

The shares dropped 19% in premarket trading.

The filing comes just hours before Bed Bath & Beyond is expected to outline a turnaround plan Wednesday in an attempt to win back the confidence of shoppers, investors and suppliers.

This is a developing story. Check back for updates.

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