Bed Bath & Beyond shares soar after Ryan Cohen’s call options purchase

Bed Bath & Beyond Inc (NASDAQ: BBBY) shares jumped on Tuesday after GameStop Chairman Ryan Cohen bought the retailer’s shares.

According to a regulatory filing, Cohen’s venture capital firm RC Ventures purchased distant out-of-the-money call options on more than 1.6 million shares of the retailer.

The call options would expire in January 2023.

Shares of the company soared more than 70% to an intraday high of $28.04. The shares last traded as high as 35% on Tuesday.

The stock also became popular on Reddit’s WallStreetBets forum.

Picture Credits: Getty Images

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