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?
I honestly don’t understand how it works with bbby. I was just taking a chance on it. I didn’t lose much. Only had 171 shares. Most of mine were bought low. Thanks for your detailed response. Appreciate your time.
yw