Interesting timing considering BBBY merger / acquisition announcement coming out later today or tomorrow.
(media.greatawakening.win)
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If you didn’t sell your shares but they don’t appear to exist anymore, do you still own them and do they still exist? If a merger does happen, then do your shares come back? I own shares of bbby and gme. If you own both gme and bbby, would they convert into shares of the merged company?
No.
No.
https://finance.yahoo.com/m/61bc6195-9139-3527-b982-ae6508113ce0/bed-bath-beyond-shares-have.html
The shares have been extinguised, which means they do not exist anymore, so there is nothing for anyone to own.
No. New shares could be issued, but you would have to buy those with cash.
If you own both (I feel sorry for you if you do), then the BBBY shares are gone forever. I doubt there will be any sort of "merger" because BBBY is bankrupt, and NO COMPANY would ever want to merge with another company that only has the name brand and massive debt. They would have to take on that debt.
MAYBE a GME would try to buy the brand name and relaunch, and in that case MAYBE the GME stock price would react to that business move, but there is no telling whether the price goes up or down in that situation. After all, BBBY was a failure of a company.
BBBY had $4 billion in assets and $5 billion in liabilities.
In a bankruptcy, the first thing is to liquidate all assets. Problem is, they will only get 10 cents on the dollar for their assets, maybe less.
That will leave them with 10 times the liabilities as they have cash, which they obviously won't be able to do (in full).
Still, they will pay down all creditors however much they can with the cash they raise. But there will still liabilities owed.
That means the creditors lose everything else (about 80-98%, depending on how much cash they raise in liquidation).
If (won't happen, but let's just pretend ... if) somehow there was a white knight riding to the rescue to give them money for some reason (why would anyone do that?), then the creditors MIGHT be made closer to whole. But that won't happen. Nobody is that stupid with their money.
The stockholders are SOL -- Shit Outta Luck.
Your money went poof.
I warned everyone here, but closed ears hear nothing.
And now, for the big cherry on top ...
GME Chairman Ryan Cohen has the SEC on his ass investigating his questionable stock trading and reporting practices around BBBY stock (which I told everyone one about here on GAW more than a year ago, but noooooooo ... nobody wanted to actually have an adult conversation about it).
https://www.reuters.com/markets/deals/sec-probes-ryan-cohens-ownership-surprise-sale-bed-bath-beyond-shares-wsj-2023-09-07/
I would not be surprised to see Ryan Cohen prosecuted for what he did. Would also not surprise me if touts on Reddit were involved in the scheme, in some way.
So, if you held onto BBBY stock all the way down, you are toast.
You guys should really stop believing the liars on Reddit.
What have they ever been right about?
Amazing I had to scroll so far to find this.
BBBY is a shit company who already sold their name.
This theory is completely silly.
They were a shit company and they did sell their name.
That doesn't negate this play.
Do you understand what a carve out is?
Do you understand that the new company that is acquiring them doesn't want their name? "Teddy" is already registered and coming in hot.
Do you understand the benefits of buying all of a company's infrastructure for pennies on the dollar plus the benefits of not having to pay taxes for the next 5 to 7 years?
Obviously not.
There is nothing of value aside from the name and brand recognition or the company would have been profitable.
Do what you want with your money, but this is completely silly.
Do you understand how a bankruptcy works?
I called the big crash in GME stock and the bankruptcy of BBBY a good 6 months-1 year before it happened, and tried to warn GAW pedes not to get caught up in the tall tales the liars on Reddit were spinning.
But I was attacked repeatedly.
I was right, though.
I even showed why Ryan Cohen violated SEC regs with what he did in his BBBY stock and options transactions, and you know what happened?
Mod Bubbles Burst BANNED me for nothing more than disagreeing with him/her. No violations of GAW rules. Just pointing out fraud where I saw it -- with the SEC filings themselves.
Some of the people around here were so nasty about it all, that it does not suprise me to see that some of them held on to the very end.
Now, they are hoping that the liars on Reddit will figure out a story they can believe in so they can get their money back.
But Santa Claus left town -- with all the loot.
P.S. I have not been following this story lately, and did not know they sold their name. But you are right: that makes this story even more ridiculous, since that is the only asset they had that MIGHT be worth SOMETHING.