Bed Bath & Beyond Stock Plunges After Ryan Cohen Files to Unload Stake
This article is for subscribers only.
Bed Bath & Beyond Inc., the struggling retailer turned meme-trader darling, skidded as much as 21% in postmarket trading after a top investor suggested he has soured on the stock.
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. RC is the retailer’s second-largest holder after BlackRock Inc., according to data compiled by Bloomberg, with an 11.8% stake as of April 21.