Harriet Edelman, a director at Bed Bath & Beyond Inc. (BBBY), recently bought 7,500 shares. The buy increased her holdings by 36 percent, and came to a total cost of just under $150,000.
This is the second buy from insiders this year following buys from two directors back in July. Those directors have already seen triple-digit returns thanks to the company’s strong performance in the past few months. The last insider sales were in early 2019.
Shares of the company have been a roller coaster over the past year, trading as low as $3 and as high as $26. The moves come as the retailer has worked to increase its online sales presence and management has worked to streamline the number of goods sold in stores.
- Man Who Predicted 2008 Crash: “The Mother of All Crashes is Coming”
If you've watched the movie The Big Short,you've heard of Michael Burry. He was one of the few who no only predicated the 2008 crash but profited from it.
He made $750 million for his investors and $100 million personally when his bet against the housing market paid off. His next big prediction?
He's warning the "mother of all crashes" is coming.
If you have any money in the markets, I urge you to click here and get the exact day of the next stock market crash.
Action to take: There’s still a lot to like at today’s prices. Shares trade for 10 ties forward earnings, and the company trades at less than 0.3 times sales. There’s a large dividend for shareholders right now in addition to the massive move higher in shares.
Traders should consider the February 2021 $25 calls. Trading for $1.90, they have a good chance of moving in-the-money in the coming weeks as shares retest their 52-week highs set less than a month ago. From there, the options could deliver triple-digit returns for a relatively low price overall.