Bed Bath & Beyond’s Share Sale Tests Boundaries of Retail Frenzy
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Bed Bath & Beyond Inc. is testing the loyalty of its most ardent retail investors with plans to sell new shares as the roller coaster that is its stock price lurches downhill.
The home-goods retailer on Wednesday filed to sell up to 12 million common shares as part of a move to enhance liquidity as it fights to survive. The plan comes after the stock plunged 70% from an August high when activist investor Ryan Cohen dumped his investment and made off with millions.