Bed Bath and Beyond stock (BBBY) tanks on news of layoffs and stock dilution.
Ryan Cohen, Chairman of the Board of Gamestop, and large investor in BBBY, has sold his entire position of BBBY, having possibly previously made false statements about his intentions.
The astonishing rise and fall of Bed Bath & Beyond’s stock price this month has put a spotlight on the investor Ryan Cohen, who through his social media savvy and his portfolio has become a baron of the meme-stock realm.
Cohen is the chair of GameStop, the video game retailer that was among the first stocks to lift off in early 2021 after its embrace by retail traders congregating on online message boards.
Cohen’s tweets and investments are dissected, copied and amplified on social media sites such as Reddit.
Shares in the homewares company had already been surging when on Monday, August 15, Cohen filed documents with the US Securities and Exchange Commission detailing a previous purchase in February and March of a large number of call options on the stock.
The disclosure helped push Bed Bath & Beyond shares up 30 per cent the next day. On Reddit, a forum member posted a meme with a message written below Cohen’s visage. “Howdy folks,” it read. “This is Ryan from the cockpit we’re expecting some turbulence just remain in your seats.”
There was turbulence. On Wednesday, August 17, Cohen disclosed that he was selling his entire stake, and by Thursday he had fully closed his position with a gain of about $60mn. The sales sparked the worst one-day pullback in the history of Bed Bath & Beyond stock.
So ... on Monday, he publicly announces a huge buy in BBBY call options. On Tuesday, he posts on social media, advertising what he did. On Wednesday, he dumps his entire stock position.
Actions of a scumbag.
“A lot of the interest in Bed Bath as a meme stock had to do with Ryan Cohen’s involvement.”
When Cohen tweeted a frog emoji with a picture of an ice-cream cone in February 2021, Reddit posts launched into theories about what it meant for GameStop shares.
A week after disclosing his stake in Bed Bath & Beyond, Cohen tweeted: “Short sellers are the dumb stormtroopers of the investing galaxy.” The following week the company’s shares climbed to their highest level for the year.
As for Bed Bath & Beyond: “The fundamentals have deteriorated significantly since he took his stake,” said Justin Kleber, an analyst at Baird. The company provided a “strategic update” to investors on Wednesday in which it said it had secured more than $500mn in new financing and also planned to cut jobs and close stores. That sent shares tumbling about 25 per cent shortly after Wall Street’s opening bell.
“The obligation that he has, though, is to speak truthfully about his intentions,” said enforcement lawyer and former SEC assistant director, Gregory Bruch. “If his intentions were different than his actions that is [a] basis to conduct an investigation.”
In a letter to the board when he took his Bed Bath & Beyond stake, Cohen said his investment was “maniacally focused on the long-term”.
Yeah ... riiiiiiight.
I agree it's a riged game,but you know nothing about Ryan Cohen. To compare him to Bernie is beyond ignorant.
Notice I didn't call you ignorant, I said your statement was. And saying I extensively used ad hominemes is is just plain lying.
When you use "you don't know nothing about Ryan Cohen" that is like shouting. It's seems you use down-voting as a preferred exclamation point. There's no context to it other than I happened to disagree with you.
I know Ryan Cohen is Jewish and his rise to fortune is just another familiar 'coincidence' that other Jews like him seem to find all too often. Having nothing at all and then suddenly securing an outside investment from Volition Capital for $15 million is a familiar story. Nothing happens by coincidence. This 28 year old didn't receive 0.15 million or even 1.5 million, it was out of the gates for his first score he gets $15 million. That's one indication that makes me think there's something more going on here. Then, Cohen is suddenly a master at raising venture capital and by 2016, he had raised capital from investors including BlackRock and T. Rowe Price New Horizons Fund. That year the company had $900 million in sales and had become the number 1 online pet retailer. Wow, to me someone is setting up the path for this guy. Next year, he raises $350 million more and sells the business to Pet Smart for $3.35 billion in the largest e-commerce acquisition of all time.
Here's my take on it. I think he's another actor and plays the role as a front to 'certain' insiders. It's the same Khazarian mafia behind the scene. Just as Elon Musk and Zuckerberg having 'connections' were chosen as front men to 'certain' insiders. DARPA and CIA have intrinsic ties to these individuals and families. I already sense with Ryan Cohen there's some 'man-behind-the-curtain' scenario, but I don't know who yet. Perhaps, the SEC might provide insight to this. In time we'll learn more. His road to uber success is too coincidental for me.
Makes no sense,the company was cellar box and going broke until he stepped in. He went against globalhomo,by saving the compqny.
Did you read about the Bed Bath & Beyond CFO, Gustavo Arnal, who is alleged to have committed suicide by jumping out an 18 story building?
A class action lawsuit was filed on behalf of everyone who bought Bed Bath & Beyond stock between March 25 and Aug. 18, according to the Daily Mail.
The suit was filed about one week before Arnal’s death.
The suit was aimed at the activities of Arnal and investor Ryan Cohen alleging that actions were taken to artificially inflate the stock price.
This just feeds my suspicion. No one gets uncanningly rich like Ryan Cohen unless there is Faustian Bargain. An individual like Cohen must first be vetted and approved before becoming a front for the Cabal. Look at Mark Zuckerberg, Elon Musk, and Sergey Brin.
https://www.thegatewaypundit.com/2022/09/bed-bath-beyond-cfo-wasnt-alone-nyc-apartment-jumped-death-report/
Proven FUD and the person who sued has a history of frivolous lawsuits.