BBBY shares jumped 31% today. A short squeeze in the works?

Shares of Bed Bath & Beyond (BBBY) are trading 31% higher at a price of $8.03 at the time of this writing. The stock is soaring amid a possible short squeeze. Wallstreetbets seems to be jumping in on the action - see comments below. While the embattled home lifestyle brand had recently discontinued it's Wild Sage brand to try and improve sales, today's move seems more likely to be caused by a short squeeze.

Bed Bath & Beyond has been trading between a 52-week high of $30.14 and a 52-week low of $4.38. The stock has a market cap of $642 Million.

Bed Bath & Beyond Inc. and subsidiaries (the 'Company') is an omnichannel retailer that makes it easy for its customers to feel at home. The Company sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

moerocka - 23 upvotes - source
Bought more BBBY. Keep it moving!

HillyMammoth - 21 upvotes - source
420 ÷ 35 = 12 Median purchase price of BBBY for WSB traders was $5.75 5.75 × 12 = 69

Right-Replacement257 - 20 upvotes - source
BBBY 🚀

Jameswba90 - 18 upvotes - source
GME rocketed over 2 weeks... This is day one for BBBY 😅... The skies the limit 🤑 #420.69

TheWildsLife - 18 upvotes - source
Next week.... "I should have bought more BBBY at $14" ;'-(

Phallicus_Magnus - 18 upvotes - source
Hopped outta AMZN and all in on BBBY. Hopefully I make enough to pay for the divorce

biplata - 18 upvotes - source
Go BBBY, wishing for 10´s today! good luck to all!

ElLulu-8 - 18 upvotes - source
Aldready down 30% in the bbby puts I bought an hour ago

GrandNo9156 - 17 upvotes - source
BBBY making the climb back up, it'll break resistance 

Right-Replacement257 - 17 upvotes - source
SQUEEZE BBBY