Bed Bath & Beyond slumps 45% after Ryan Cohen exits stake
Bed Bath & Beyond Inc (NASDAQ: BBBY) shares tumbled more than 45% on Friday, losing much of this month’s massive gains after top investor Ryan Cohen exited his stake
By Arghyadeep Dutta
Published - Aug 19, 2022, 02:02 PM ET
Last Updated - Jun 11, 2024, 01:28 AM EDT
Bed Bath & Beyond Inc (NASDAQ: BBBY) shares tumbled more than 45% on Friday, losing much of this month’s massive gains after top investor Ryan Cohen exited his stake.
The stock traded down 45.28% at $10.15 in New York, putting the retailer on course for its worst day since going public in 1992.
A filing with the US Securities and Exchange Commission (SEC) showed Cohen’s RC Ventures sold millions of shares on Tuesday and Wednesday at a range of prices from $18.68 to $29.21.
The sales came after an early August surge as retail investors piled in amid a broader revival in so-called meme stocks.
