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Cohen Makes Millions on Bed Bath & Beyond as Meme Traders Recoil

  • Billionaire disclosed he sold all shares and options this week
  • Retail investors’ net purchases surged over past three weeks
Shoppers enter a building housing a Bed Bath & Beyond store in New York.

Shoppers enter a building housing a Bed Bath & Beyond store in New York.

Photographer: Mark Kauzlarich/Bloomberg
Updated on

Billionaire Ryan Cohen pocketed a $68.1 million profit from the sale of his stake in Bed Bath & Beyond Inc., scoring a 56% gain on an investment he held for roughly seven months.

The retail traders who poured millions of dollars into the struggling retailer’s stock, on the other hand, may be just starting to feel the pain -- especially if they were late to the trade.