Bed Bath & Beyond’s stock soars as much as 120% as retailer nears bankruptcy

Bed Bath & Beyond Inc.’s stock
BBBY,
+92.13%
spiked as much as 120% Monday even as the retailer indicated it has missed payments to debt holders and could file for bankruptcy. More than 183 million shares of Bed Bath & Beyond so far have swapped hands, vs. normal activity of about 37 million shares. Bed Bath & Beyond shares, which were momentarily paused in trading before resuming, have catapulted 129% this year. The broader S&P 500 index
SPX,
-0.61%
is up 7% in 2023.