The retail chain suffered its biggest one-day. Amid a boycott in response to its politically motivated decision to drop Mike Lindell’s MyPillow products, shares of Bed Bath & Beyond plunged 36.4 at the close of trading Thursday. On Robinhood, you can trade BBBY stocks and options with zero commissions, and get the latest news, earnings, and analysis on the company and its competitors. See all the latest videos and articles patriots need to watch and read at. The home goods retailer was down again on Thursday, dropping as much 9.5 in morning trading. BBBY is the stock symbol for Bed Bath & Beyond, a leading home goods retailer that offers a wide range of products for every room in the house. OSTK), which is essentially the new Bed Bath & Beyond, is seeing its stock fall on Wednesday with the release of its Q3 earnings data. It has been a rough past few days for Bed Bath & Beyond ( BBBY). Along the way, some reveled in facing down the professional investors who had bet Bed Bath & Beyond’s stock would fall. OSTK stock is dropping alongside Q3 revenue data. As Bed Bath & Beyond’s stock kept going higher in recent days, many voices on Reddit and other social media sites urged other investors to keep buying. “How many times are ‘meme traders’ going to keep mindlessly gambling on false prophets instead of actually learning how to invest and trade?” one commenter wrote.Ĭohen was a big reason many investors piled into Bed Bath & Beyond, particularly after his earlier investment in GameStop helped that stock soar to heights that stunned all of Wall Street. Investors on Reddit’s WallStreetBets forum, a hub of discussion for the stock, were trying to gauge their next steps in what one commenter called “BLOOD BATH AND BEYOND.” In March, he revealed that he had built a nearly 10% stake in Bed Bath & Beyond, with shares purchased at prices from $13.08 to $17.10. in New York.Cohen sold all of the nearly 7.8 million shares he held in Bed Bath & Beyond on Tuesday and Wednesday, at prices from $18.68 to $29.22. Bed Bath & Beyond said on Friday it was seeking shareholder approval for a reverse stock split, sending the struggling retailers shares 13 lower in. Bed Bath & Beyonds stock dropped 42 in after-hours trading, after it had already sank nearly 20 during the regular session to close at 18.55. RC Ventures and Bed Bath & Beyond didn’t immediately respond to requests for comment.īed Bath & Beyond shares were down 16 per cent to US$19.45 in after-hours trading at 6:23 p.m. The filing suggests Cohen’s patience for a Bed Bath & Beyond turnaround is wearing still thinner. Trading in the retailer’s stock was turbulent after an investor disclosed a 10 percent stake and then indicated that he. The company has fared less well on the fundamental side of things lately, dismissing former Chief Executive Officer Mark Tritton in June after another downbeat quarterly report.Ĭohen had grown fed up with Tritton’s performance and pushed for his ouster, a person familiar with Cohen’s thinking said at the time, but continued to believe the company’s Buybuy Baby unit was a promising and undervalued asset. Bed Bath & Beyond shares plunge 40 percent after Ryan Cohen’s exit. RC is the retailer’s second-largest holder after BlackRock Inc., according to data compiled by Bloomberg, with an 11.8 per cent stake as of April 21.īed Bath & Beyond has risen more than 400 per cent from a late-July low as retail investors embraced it. That includes planning to restore its inventory to meet demand. The company wants another 100 million for its business. 'Theyre trying to cancel me out,' Lindell told the Right Side Broadcasting Networks. Bed Bath & Beyond stock is dropping after seeking more funds. Ryan Cohen’s RC Ventures said in a filing Tuesday with the US Securities and Exchange Commission that it might sell as much as 7.78 million shares of Bed Bath & Beyond, along with some call options. In interviews this week, Lindell said Bed Bath & Beyond, Kohls, H-E-B and Wayfair are all dropping MyPillow. A share of Bed Bath & Beyond now costs 31 cents, down from 5 earlier this year and 80 a decade ago as the company circles around bankruptcy. Bed Bath & Beyond’s share price has lost 91 of its value since the start of the year and has become a penny stock ahead of its rebirth under Overstock’s management. Its revenue plunged 25 year over year to 1.46 billion, which. Bed Bath & Beyond shares plunge 40 percent after Ryan Cohen’s exit. Bed Bath & Beyond Inc., the struggling retailer turned meme-trader darling, skidded as much as 21 per cent in postmarket trading after a top investor suggested he has soured on the stock. Bed Bath & Beyond s ( BBBY) stock price plunged 24 on June 29 after the retailer posted a dismal first-quarter earnings report.
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