Bed Bath & Beyond stock falls again, has plunged more than 70% during a 12-day stretch in which it has declined 11 times

Shares of Bed Bath & Beyond Inc.
BBBY,
-7.12%
took a 6.8% beating Thursday, which put them on track for a third-straight loss and a seven-week closing low. The stock has shed 16.6% over the past three sessions, and plunged 74.2% amid a 12-day stretch in which it has declined 11 sessions. That stretch of weakness followed the home-goods retailer’s announcement of plans to sell convertible preferred shares, in an effort to get out of a loan default and stave off bankruptcy. That announcement came after the Feb. 6 closing bell, and just after a “meme”-like 92.1% surge in the stock. The stock was headed for the lowest close since Jan. 6, which was the day it closed at a 30-year low of $1.31. Among other former and recent “meme”-stocks, AMC Entertainment Holdings Inc. shares
AMC,
-0.48%
eased 0.2% in afternoon trading Thursday, while shares of GameStop Corp.
GME,
-1.85%
lost 2.8% and Carvana Co.
CVNA,
+0.10%
shed 3.6%. Meanwhile, the S&P 500
SPX,
+0.53%
fell 0.3%.