Bank of America says it’s safe buy Bath to bed and beyond again after the meme rally wears off

People wearing face masks walk past the bathroom bed and beyond store in New York City.

John Nacion | SOPA Images | LightRocket | .

Investors can feel comfortable buying Bed Bath & Beyond again now that Reddit traders seem to have left the escort behind, according to Bank of America.

The title was one of several caught up in the renewed meme stock rally earlier this month, seeing its share price and volatility increase dramatically. The stock has now dropped more 33% from 2 June.

Analyst Curtis Nagle was reinstated a buy rating for the retail stock, saying the meme rally appears to be over for Bedroom bathroom and beyond. Nagle had moved the title to no rating three weeks ago, saying that shares they were too disconnected from the fundamentals.

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