Andrea Felsted, Columnist

Bed Bath & Beyond Can't Hide Behind Meme Status Anymore

The 400% rise in the retailer's share price belies the serious difficulties that it faces.

August 18, 2022 at 3:05 PM UTC

Updated on

August 19, 2022 at 8:49 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

In trouble.
Photographer: Joe Raedle/Getty Images North America

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Without Ryan Cohen’s meme-stock magic, Bed Bath & Beyond Inc. is just another struggling retailer.

Little wonder then that the shares fell as much as 44% in pre-market trading on Friday, after Cohen’s RC Ventures offloaded its entire 11.8% holding in the purveyor of bedding, towels and cookware. Cohen said in a filing on Tuesday that he might sell the majority of his stake.