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Andrea Felsted

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.

In trouble.

In trouble.

Photographer: Joe Raedle/Getty Images North America
Updated on

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.