The wild trading in Bed Bath & Beyond showed no signs of slowing down on Wednesday, 

 as the retail stock spiked on heavy volume while social media users cheered on the meme stock

Shares of the challenged retailer surged 39% in early trading, building on its enormous gains for August. 

 Bed Bath & Beyond has already seen five days in August with moves greater than 20%, and ended Tuesday up nearly 300% for the month.

The volume of trading in Bed Bath & Beyond has also been abnormally high. 

On Tuesday, more than 395 million shares traded hands, according to FactSet.

For comparison, no day in July had a single day with even 20 million in trading volume.

The meme trade had gone largely quiet this year as the broader markets struggled,

 but with the S&P 500 up sharply from its June lows, retail traders appear to have growing confidence.