The day-trading die hards who once rallied behind Bed Bath & Beyond Inc. appear to have abandoned the struggling retailer, Bloomberg News reported. A little more than two weeks after the company received a financial rescue to keep it out of bankruptcy, its shares have lost 74% of their value, falling in 11 of the past 12 days. That’s pushing them back toward the three-decade low hit in early January. That $225 million lifeline from a group led by hedge fund Hudson Bay Capital Management has promised to significantly increase the number of shares outstanding and was structured to allow the new investors to profit as long as the stock holds above 71.6 cents. Rather than spurring optimism about the company’s survival, the deal has has hit individual investors who once piled in when the stock traded above $20 — a far cry from Wednesday’s $1.62 close. It lost over 5% more soon after the market’s open Thursday.
