Bed Bath & Beyond (BBBY) is selling Christmas Tree Shops, its institutional Linen Holdings, and a distribution center for about $250 million.
The stock is gapping up on the news and is trading at $23.49 as of this writing in the premarket.
Previously partial profits were taken and the call was to buy more if it dipped back into the buy zone. The stock dipped into the buy zone again allowing investors to buy more.
Consider taking partial profits on a 10% tranche in the zone of $23.30 to $24.68. Consider continuing to hold the remaining 25% at this time. The second target zone for BBBY was $24.83 to $29.57. At this time there is no change in that call except to take additional partial profits if the stock moves into that zone. Depending upon how the stock trades, a third target zone may be given.
This post was just published on ZYX Buy Change Alert.
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