Yahoo Finance Live’s Brian Sozzi breaks down the decline in stock for Bed Bath & Beyond.

Video Transcript

BRIAN SOZZI: Lots of action around Bed Bath & Beyond. To keep an eye on the company's ticker page is the most visited on Yahoo Finance today. After rocketing yesterday, it's a very different story for the shares this morning as you can see on the screen. They're crashing in pre-market trading after the company announced plans to raise cash through an offering, a preferred stock, another move in its ongoing bid to avoid bankruptcy. According to the regulatory filing, Bed Bath is aiming to raise more than $1 million. But Wedbush still slashed its price target on the stock to 0 from $1, suggesting the capital raising effort was a last ditch effort to avoid bankruptcy. We'll have more analysis on Bed Bath's Hail Mary pass later on in the show.