Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

BBBY Appears To Be Establishing A Bottom

|Includes: Bed Bath & Beyond Inc. (BBBY)

BBBY recent drop has created a buying opportunity and I took it. My "back of envelope" analysis suggests that it should trade near or above $70. The stock has absorbed the news of its recent quarter and has hopefully begun its recovery to a more normalized market price. I will watch it closely as inventory approximates $629 per square foot and margins near 40% - both appear high

Disclosure: The author is long BBBY.