Bed Bath & Beyond Inc (NASDAQ:BBBY) shares are trading higher on above-average volume Monday as the stock regains momentum, which has largely been driven by increased retail investor attention.

Last Monday, the stock soared nearly 40% on no apparent news. Retail darlings AMC Entertainment Holdings Inc (NYSE:AMC) and GameStop Corp (NYSE:GME) surged alongside the home furnishings company as retail traders highlighted high short interest in the names across social media platforms.

Related Link: The Apes Are In Control Of Bed Bath & Beyond Stock Behind As Short Squeeze Continues: What's Next?

The following day, Baird analyst Peter Benedict downgraded Bed Bath & Beyond from Neutral to Underperform and announced a $4 price target, calling the nearly 40% rally the "latest meme stock frenzy." Bed Bath & Beyond shares fell sharply on the downgrade. 

The stock is still trending across social media platforms. It was among the top trending tickers on Stocktwits at last check.

Bed Bath & Beyond's average session volume over a 100-day period is about 15.18 million, according to data from Benzinga Pro. Monday's trading volume has already exceeded 93 million at press time, suggesting the "latest meme stock frenzy" has found new legs. 

Jim Cramer also highlighted several short-squeeze candidates last week on CNBC's "Mad Money." However, he warned that Bed Bath & Beyond is one name to avoid. Cramer noted that the recent surge in the stock creates more favorable conditions for a potential stock offering.

See Also: Jim Cramer Sides With The Apes, Says AMC Entertainment Stock Is A 'Terrible Short': 5 Other Short Squeeze Candidates On His Radar

BBBY Price Action: Bed Bath & Beyond has a 52-week high of $30.06 and a 52-week low of $4.38.

The stock was up 16.9% at $15.13 at time of publication.

Photo: ajay_suresh from Flickr.