For a while on Wednesday, it was on pace to close a fourth straight day with a gain of more than 20%. It’s just the latest maniacal set of moves for Bed Bath & Beyond, which soared another 11.8% during the regular trading session Wednesday on huge trading volume. Others were vowing to hold on, or HODL, in the parlance of our times.
“BBBY is over,” one commenter said on Reddit’s WallStreetBets forum, a hub for some of the discussion about Bed Bath & Beyond, whose ticker symbol is BBBY. Cohen had built up his stake early this year into March.īeyond the quick reversal in after-hours trading, the notice also triggered howls across the internet, where growing masses of smaller-pocketed and amateur investors have banded together to push Bed Bath & Beyond’s stock “to the moon”
regulators in a paper form submitted over email, and it said the RC Ventures investment firm may sell up to nearly 7.8 million shares of Bed Bath & Beyond, along with options related to the stock, beginning Tuesday. It’s a sudden turnaround for a stock that had just quadrupled in a little more than two weeks, in part on hopes that the investment by Ryan Cohen could help Bed Bath & Beyond turn around its finances.Ĭohen’s notice of proposed sale came to U.S. The stock fell 16% in after-hours trading Wednesday following reports that a big-name investor with a cult-like following may sell his stake in the struggling retailer. NEW YORK (AP) - Now comes the downside of the meme-stock craze for investors in Bed Bath & Beyond.
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