BBBY Stock: Is Ryan Cohen Getting Involved With Bed Bath & Beyond Again?
Shares of Bed Bath & Beyond $3B家居(BBBY.US$ stock are in full focus following a cryptic tweet from GameStop $GameStop(GME.US$ Chairman Ryan Cohen.
Cohen has not yet disclosed the company in question. However, investors are in full speculation mode given his past relationship with Bed Bath & Beyond.
Last year, the activist investor purchased more than 7 million shares of BBBY at an average price of $15.34, plus call options. In August, Cohen then sold out of his entire stake at prices ranging between $18.68 and $29.22. Cohen also sold his call options
.
In total, Cohen netted a profit of about $59 million before brokerage fees. The sale was highly controversial, as BBBY stock plunged afterwards, resulting in heavy losses for the remaining shareholders.
In total, Cohen netted a profit of about $59 million before brokerage fees. The sale was highly controversial, as BBBY stock plunged afterwards, resulting in heavy losses for the remaining shareholders.
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