By Jerry Kronenberg | Moomoo News
$Barnes & Noble Education (BNED.US)$ booked more than a 50% drop in its stock price intraday Wednesday as shares gave all of a recent rally and then some after rising 55.8% top to bottom in less than a week.
BNED fell as much as 52.2% to a $1.17 session low during Wednesday’s last trading hour. That took the stock all the way back to and beyond the $1.45 low that it rang up one week ago before starting a four-session rally.
Barnes & Noble Education, which the now privately held Barnes & Noble bookstore chain spun out in 2015, operates more than 1,000 bookstores at colleges and secondary schools.
However, BNED stock has been tumbling for more than two years. The stock has fallen more than 85% since topping out at $12.009 intraday in September 2021.
Last month, management reiterated its previously announced plans to consider “a broad range of strategic alternatives available to the company, including but not limited to potential capital raises, asset divestitures, a sale of the business and pursuit of standalone growth plans.”