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Bed Bath & Beyond Sinks 44% After Ryan Cohen Exits Stake

  • Stock on course for its worst day since going public in 1992
  • Cohen stake exit has ‘upended the board’ after recent surge
Updated on

Bed Bath & Beyond Inc. shares tumbled as much as 44% in premarket trading, giving back much of this month’s huge gains, after top investor Ryan Cohen exited his stake.

The stock traded down 41% at $10.98 as of 4:57 a.m. in New York, putting the retailer on course for its worst day since going public in 1992.