This week's top movers: Bed Bath & Beyond, Lululemon, Nvidia, Snap
Yahoo Finance's Seana Smith discusses volatile stocks over the past week.
This week's top movers: Bed Bath & Beyond, Lululemon, Nvidia, Snap
Yahoo Finance's Seana Smith discusses volatile stocks over the past week.
Video Transcript
SEANA SMITH: We are wrapping up a very busy week on Wall Street. Let's take a look at some of those individual movers that made some of the biggest moves. We got to start with Bed Bath Beyond first, because it was a huge move to the downside.
You can see this chart dropping right around Wednesday. Now this company-- the stock sold off after the company revealed its strategic update, including new financing plans, plans to close 150 stores, reducing the workforce by 20%. Also, the chief operating officer, chief stores officer roles, were cut here from the company.
The stock tanked 21% on Wednesday alone. That's the day that we got those details. Taking a look at a five-day chart here for the stock, the company ending the week in the red, off just around 19%. So stemming some of those earlier losses.
All right, next up is the Lululemon. Now shares jumped nearly 7% today, solid results from the retail company fueling today's gains. Two big numbers that stood out to us, same store sales growing 23% during the quarter, net sales of 1.87 billion, inventories though rising 85% to 1 and 1/2 a billion. Although, it looks like the street is able to brush that off for the week.
Let's take a look at what that means for Lululemon. Again, today, the stock closing up just around 7% for the week, barely in positive territory, up nearly 1%. Next up, let's talk about NVIDIA. Certainly a very tough week for NVIDIA. Shares selling off after the US government ordered the chip giant to halt sales of some of its chips to China.
It is a critical market for the company, and that band could cost NVIDIA as much as $400 million in potential sales during the current quarter. During that sell off here, the stock hitting a 52-week low earlier this week. One of the worst performers in the S&P for the week, again, as we close out the week closing at 136.47, so just off the lows that we hit yesterday.
All right, let's around it out. Here was Snap bringing its losses here. Actually, the stock popped though initially after it announced plans to lay off 20% of its workforce. Now, the company also saying that this restructuring helps it really focus on three priorities, community growth, revenue growth, and augmented reality. The stock popping yesterday over the last five days, closing up just around 5 and 1/2 today, off nearly 3 and 1/2, so giving back some of yesterday's gains.