Did Ryan Cohen sold all his shares to raise $46m cash for BBBY to pay outstanding invoices?
According to SEC filing, Ryan Cohen is a 10% owner which means that the short swing rule should apply to him and he just indirectly helped $Bed Bath & Beyond Inc(BBBY.US$ raise capital without issuing new shares. Is this a move to help BBBY raise money to pay off the invoices they couldn't pay? or is it just a pump and dump?
According to a post our friend @LuvKitty found, it is estimated that $46 million will be given back to BBBY due to this short swing rule.
$46 million is tiny compared to the buttload of debts that BBBY has, but it does seems like the quickest way for BBBY to get hold of cash to pay their invoices which they had owed and had not paid yet. Because of that, some suppliers are restricting or halting shipments altogether. This added liquidity could help BBBY ease some of the mounting pressure they faced while they scammble to raise cash.
The journey ahead is filled with opportunity and risk, so remember to manage your risk well ![]()
![]()
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moo Contributor
crawled out of poverty, working towards FIRE!! (financial independence, retired early)
14KFollowers
104Following
16KVisitors
Follow
divinepapa : Awesome analysis
doctorpot1OP divinepapa: just some thoughts only hahaha. is it true I don't know. but seems like the fastest way for BBBY to raise $46 millions in 3 days hahahahaha
divinepapa doctorpot1OP: Awesome
102791582 : Pretty sure he would come out and say so if he did.
doctorpot1OP 102791582: If that is part of certain deal then I don't think he could say anything though. He is not Elon Musk who don't care about SEC and the rules, which got him into so much trouble with SEC hahahaha
not sure, time will tell why he did what he did