Ryan Cohen

Move comes roughly five months after taking a major stake in the company and pushing for changes.

[After Six Months of War in Ukraine, Momentum Tilts Against Russia](https://www.wsj.com/articles/after-six-months-of-war-in-ukraine-momentum-tilts-against-russia-11661247003?mod=trending_now_news_1) [Where Are People Living the Longest? [to become chairman](https://www.wsj.com/articles/gamestop-set-to-complete-board-overhaul-with-ryan-cohens-election-as-chairman-11623231002?mod=article_inline) of GameStop Corp. In March, he [revealed an activist position](https://www.wsj.com/articles/gamestop-chairman-ryan-cohen-takes-large-stake-in-bed-bath-beyond-pushes-for-changes-11646611200?mod=article_inline) in Bed Bath & Beyond, sparking a rally in its share price. [Today's Expedia promo code: Extra 8% off your stay](https://www.wsj.com/coupons/expedia) [60% off running shoes and apparel at Nike](https://www.wsj.com/coupons/nike) Billionaire investor Ryan Cohen cashed out his entire position in Bed Bath & Beyond Inc.

Divestment by GameStop chair caps frenzied week for struggling homeware retailer.

[Purchase a Print subscription for 11,12 € per week You will be billed 107,91 € per month after the trial ends](https://subs.ft.com/spa3_uk3m?segmentId=461cfe95-f454-6e0b-9f7b-0800950bef25&utm_us=JJIBAX&utm_eu=WWIBEAX&utm_ca=JJIBAZ&utm_as=FIBAZ&ft-content-uuid=93942b93-e0b5-46ca-80ae-cf166498ba4a) [Purchase a Digital subscription for 6,64 € per week You will be billed 39 € per month after the trial ends](https://subs.ft.com/spa3_digital?ft-content-uuid=93942b93-e0b5-46ca-80ae-cf166498ba4a) [Purchase a Trial subscription for 1 € for 4 weeks You will be billed 65 € per month after the trial ends](/signup?offerId=41218b9e-c8ae-c934-43ad-71b13fcb4465&ft-content-uuid=93942b93-e0b5-46ca-80ae-cf166498ba4a)

Shares of Bed Bath & Beyond plunged in early trading Thursday, as investors reacted to news that GameStop chairman Ryan Cohen plans to sell his holdings in ...

(Cohen first revealed his holding in the company in early March.) The college student, Jake Freeman, was an individual investor, so was not required to give such notice. Traders on Reddit’s r/WallStreetBets have flocked to it, much as they did with GameStop last year, another Cohen investment.

Bed Bath & Beyond's stock remained under pressure Thursday after billionaire investor Ryan Cohen filed to sell his entire stake in the retailer.

Cohen helped ignite a new meme-stock frenzy in shares of Bed Bath & Beyond earlier this year when he disclosed a large stake in the company. That sparked a pullback in Bed Bath & Beyond shares that began in late Wednesday trading.\n\nMr. Bed Bath & Beyond's stock remained under pressure Thursday after billionaire investor Ryan Cohen filed to sell his entire stake in the retailer.\n\nShares of Bed Bath & Beyond, known by its ticker $BBBY, closed down about 20%, losing $4.53 to $18.55 apiece.

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 ...

Investors flooded social media platforms such as Reddit on Friday with criticism of Ryan Cohen's sale of his stake in Bed Bath & Beyond Inc , blaming him ...

I'll probably be looking to exit that," Bennett said. Bed Bath said in a regulatory filing on Thursday it was working with external financial advisors and lenders on strengthening its balance sheet, an admission that it needs to raise capital to stay afloat. On Wallstreetbets, the Reddit forum frequented by such investors, some lamented their losses and Cohen's role. Bed Bath & Beyond shares fell 20% on Thursday after filings revealed Cohen planned to sell his shares. The billionaire investor disclosed on Thursday he had sold his 9.8% stake in the struggling home goods retailer almost five months after amassing it and pushing for changes. Register now for FREE unlimited access to Reuters.com

The company's stock slumped in late trading, on top of a 20% fall in Thursday's regular session.

He has an underweight rating with a price target of $2. The company’s plans to address its balance sheet could mean a “capital raise” might be in store. The average 12-month share price target of $4.48 signals brokerage firms expect the stock to slump more than 75% from Thursday’s close. While retail traders have been fueling the surge in Bed Bath & Beyond shares, the company’s fundamentals remain dismal. They bought $58.2 million of the stock Wednesday, a day after snapping up a record $73.2 million, bringing their total net purchases in three weeks to $229.1 million, according to data compiled by Vanda Research. [agreement](https://www.bloomberg.com/news/articles/2022-03-25/bed-bath-beyond-is-said-to-near-settlement-with-activist-cohen) on the addition of three independent directors to the retailer’s board and pushed for the exit of Chief Executive Officer Mark Tritton.

The sales came amid a surge in the struggling retailer's shares this week, with the stock price more than quadrupling from a recent low in July.

[sales came amid a surge in the struggling retailer’s shares this week](https://fortune.com/2022/08/18/ryan-cohen-bed-bath-beyond-shares-tumble/), with the stock price more than quadrupling from a recent low in July. [Anders Melin](https://fortune.com/author/anders-melin/)and [Bloomberg](https://fortune.com/author/bloomberg/) [unloaded all of them this week](https://fortune.com/2022/08/17/ryan-cohen-sell-bed-bath-beyond-shares-meme-stock-gamestop/) for a combined $189.3 million, according to a filing on Thursday after the US market close.

Trading in the retailer's stock was turbulent after an investor disclosed a 10 percent stake and then indicated that he had cashed out.

Things might get into a gray area, Professor Taylor said, if Mr. But that sort of intent would be hard to prove, he said. He sold a portion of his investment in Bed Bath & Beyond on Tuesday, at prices ranging from about $18 to $26 a share and more on Wednesday at $23 to $29. [The filing](https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml) sent retail traders into a frenzy. Its stock market fortunes were reinvigorated earlier this week after Mr. [he disclosed his initial stake](https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/sc13d13351002_03072022.htm), but Bed Bath & Beyond has since bought back some of its shares, making him a major shareholder and requiring him to file updated forms. As of last week, its shares had fallen about 40 percent since it announced its deal with Mr. But the retailer has continued to struggle since then: Its chief executive, Mark Tritton, was ousted in June, and it reported a net loss of about $358 million in the most recent quarter with only $140 million in cash on hand, down from more than $1.1 billion a year before. [called for several changes](https://s.wsj.net/public/resources/documents/bbbletter030622.pdf) at the company, including a sale of the Buy Buy Baby brand. Cohen had taken his money out of the company. Cohen, who founded the online retailer Chewy and is the chairman of GameStop, has become a favorite of individual investors who [have driven meme stock mania](https://www.nytimes.com/2021/03/13/technology/crypto-art-NFTs-trading-cards-investment-manias.html). [as much as 70 percent](https://www.cnbc.com/2022/08/16/bed-bath-beyond-soars-70percent-as-meme-traders-bet-on-ryan-cohen.html) as small investors also piled in to the stock.

Meme traders aren't supposed to sell their stocks, but Cohen just did.