Last week, Bed Bath & Beyond (NASDAQ: BBBY) made a slew of announcements. Most notably, it told investors that it plans to complete its previously announced $1 billion share repurchase program by the end of fiscal 2021.
This move helped trigger a short squeeze, sending Bed Bath & Beyond stock up as much as 85% in after-hours trading on Tuesday. While the stock subsequently gave back some of those gains, it still rose 61% for the week.