The company also replaced pushed out its CEO Mark Triton in June, with independent direction Sue Grove taking the reins on an interim basis. He was previously in charge of expanding Target's private label brands, which he tried to replicate at Bed Bath and Beyond. Shares of Bed Bath & Beyond, a favorite with the meme stock crowd that has surged higher this month, jumped nearly 15 on Wednesday after the company reportedly secured a much-needed loan. The options serve as bets that the stock will rise significantly before January, allowing Cohen to then buy shares at a discount.Īccording to the filing, Cohen's position in Bed Bath & Beyond has not changed since he first revealed his stake earlier this year, but Bed Bath & Beyond has lowered its total shares outstanding, making Cohen's stake a higher percentage of the company.Īfter he revealed his position earlier this year, Bed Bath & Beyond agreed to add three board members of Cohen's choosing. Bed Bath and Beyond poached Tritton from Target in 2019. On Monday, an amended regulatory filing from Cohen's venture capital firm RC Ventures showed that he owned nearly 12% of the shares of Bed Bath & Beyond as of April 21, including positions in distant out-of-the-money call options.
It may be short-lived, but it's back," Tastytrade founder Tom Sosnoff said on " Squawk Box."īed Bath & Beyond is connected to GameStop through Ryan Cohen, the billionaire who serves as GameStop's chairman. Bed Bath & Beyond a nationwide chain of home furnishing SUPER-STORES offering one of the largest selection of products for your home anywhere at everyday. There's a big demand for speculation, and it's back. Bed Bath & Beyond’s FRISK score from CreditRiskMonitor, which measures the probability of a publicly traded company filing for bankruptcy within a year, sits at 1. The meme trade had gone largely quiet this year as the broader markets struggled, but the S&P 500 up sharply from its June lows, retail traders appear to have growing confidence. Bed Bath & Beyond, which uses price optimization technology from Revionics, is coping with those challenges by fostering collaboration among its.
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