Latest News by Industry
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
ALSO READ: