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Bed Bath and Beyond (NASDAQ: BBBY) surged as much as 25 percent in after-hours trading today, January 09, 2019. On December 28, 2018, Fr. Emmanuel spoke live to the crew of Benzinga TV about the company:
"It's [BBBY] now between $10 and $11 per share, pretty extraordinary business if you think about it, about a 1.4 billion market cap., just over a billion of that in cash, and then a company that threw off $750 million in free cash flow... in the last twelve months... growing revenues for a very long time, an iconic American retailer... they're paying almost a 5% dividend... for the record I think it's worth more like $40 or $50 and I wouldn't be surprised if in the next year we see it return to that sort of valuation... "
In the roughly six trading days since the interview, the stock has risen approximately 24 percent vs. 3.99 percent for the S&P 500 index:Fig. 1: Bed Bath and Beyond stock Price PerformanceDecember 28, 2018 - January 09, 2019
Follow some of Lemelson Capital Management's other recent calls on:
- Ligand Pharmaceuticals (NASDAQ: LGND) Click here
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Watch the full interview on Bed Bath and Beyond below or click here.
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