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Why Bed Bath & Beyond Stock Dived by 9% Today

Why Bed Bath & Beyond Stock Dived by 9% Today

On a lousy day for the stock market, Bed Bath & Beyond (NASDAQ: BBBY) stock fared even worse. The home goods retailer saw its shares decline by over 9% Tuesday, on the back of a price target cut from a prominent investment bank. Before market open, Morgan Stanley analyst Simeon Gutman trimmed said price target on the stock, from $12 per share to $11.