You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his original intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. And the calls would expire in less than 1 year. Yet, he bought dirt cheap calls above the multi-year high? Why? This would be a REALLY dumb move, if he were an honest market player.
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump. Why not?
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months. IOW: His play was not working ... at all.
(5) For no apparent reason, the price began to shoot up again, from under $5 to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures. (Getting out even.)
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
If you wanna see what insider stock manipulation looks like ... well this is pretty damn close.
They've got ...
- Cohen failing to disclose the options purchase in a timely manner,
- Cohen finally disclosing the day before he starts to dump,
- Cohen filing a false or at least misleading document the day before the dump, and,
- His alleged partner in crime, the CFO of the company, issuing a public statement about how great things are going to be in the future ... the exact same day that Cohen was dumping right into the pump.
The guy jumped out the window because he realized he was fucked. Cohen dumped it all in a day for some reason, when CFO thought it was supposed to happen over time, hiding it. The price spike and subsequent dive totally screwed the pooch.
Or, so it would seem.
That lawsuit will be very interesting.
If the lawsuit has merit, it would appear that Cohen and Arnal concocted a scheme ... and then Cohen double-crossed his buddy, possibly seeing an opportunity to get out at breakeven, instead of the almost 90% loss that he had just a week or so before.
I have no idea why Mr. (((Cohen))) would so something like that ...
But I do find it interesting that the GME/BBBY touts are coming up with all sorts of wild theories ... including murder intrigue ... when the obvious probability is staring them right in the face.
Occam's Razor and all ...
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his original intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. And the calls would expire in less than 1 year. Yet, he bought dirt cheap calls above the multi-year high? Why? This would be a REALLY dumb move, if he were an honest market player.
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump. Why not?
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months. IOW: His play was not working ... at all.
(5) For no apparent reason, the price began to shoot up again, from under $5 to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures. (Getting out even.)
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
If you wanna see what insider stock manipulation looks like ... well this is pretty damn close.
They've got ...
- Cohen failing to disclose the options purchase in a timely manner,
- Cohen finally disclosing the day before he starts to dump,
- Cohen filing a false or at least misleading document the day before the dump, and,
- His alleged partner in crime, the CFO of the company, issuing a public statement about how great things are going to be in the future ... the exact same day that Cohen was dumping right into the pump.
The guy jumped out the window because he realized he was fucked. Cohen dumped it all in a day for some reason, when CFO thought it was supposed to happen over time, hiding it. The price spike and subsequent dive totally screwed the pooch.
Or, so it would seem.
That lawsuit will be very interesting.
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his original intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. And the calls would expire in less than 1 year. Yet, he bought dirt cheap calls above the multi-year high? Why? This would be a REALLY dumb move, if he were an honest market player.
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump. Why not?
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months. IOW: His play was not working ... at all.
(5) For no apparent reason, the price began to shoot up again, from under $5 to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures. (Getting out even.)
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
If you wanna see what insider stock manipulation looks like ... well this is pretty damn close.
They've got ...
- Cohen failing to disclose the options purchase in a timely manner,
- Cohen finally disclosing the day before he starts to dump,
- Cohen filing a false or at least misleading document the day before the dump, and,
- His alleged partner in crime, the CFO of the company, issuing a public statement about how great things are going to be in the future ... right as Cohen was dumping right into the pump.
The guy jumped out the window because he realized he was fucked. Cohen dumped it all in a day for some reason, when CFO thought it was supposed to happen over time, hiding it. The price spike and subsequent dive totally screwed the pooch.
Or, so it would seem.
That lawsuit will be very interesting.
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his original intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. And the calls would expire in less than 1 year. Yet, he bought dirt cheap calls above the multi-year high? Why? This would be a REALLY dumb move, if he were an honest market player.
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump. Why not?
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months. IOW: His play was not working ... at all.
(5) For no apparent reason, the price began to shoot up again, from under $5 to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures. (Getting out even.)
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
If you wanna see what insider stock manipulation looks like ... well this is pretty damn close.
They've got ...
- Cohen failing to disclose the options purchase in a timely manner,
- Cohen finally disclosing the day before he starts to dump,
- Cohen filing a false or at least not required document the day before the dump, and,
- His alleged partner in crime, the CFO of the company, issuing a public statement about how great things are going to be in the future ... right as Cohen was dumping.
The guy jumped out the window because he realized he was fucked. Cohen dumped it all in a day for some reason, when CFO thought it was supposed to happen over time, hiding it. The price spike and subsequent dive totally screwed the pooch.
Or, so it would seem.
That lawsuit will be very interesting.
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his original intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. And the calls would expire in less than 1 year. Yet, he bought dirt cheap calls above the multi-year high? Why? This would be a REALLY dumb move, if he were an honest market player.
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump. Why not?
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months. IOW: His play was not working ... at all.
(5) Right before he sold it all, the price began to shoot up again, from under $5 to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures. (Getting out even.)
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
If you wanna see what insider stock manipulation looks like ... well this is pretty damn close.
They've got ...
- Cohen failing to disclose the options purchase in a timely manner,
- Cohen finally disclosing the day before he starts to dump,
- Cohen filing a false or at least not required document the day before the dump, and,
- His alleged partner in crime, the CFO of the company, issuing a public statement about how great things are going to be in the future ... right as Cohen was dumping.
The guy jumped out the window because he realized he was fucked. Cohen dumped it all in a day for some reason, when CFO thought it was supposed to happen over time, hiding it. The price spike and subsequent dive totally screwed the pooch.
Or, so it would seem.
That lawsuit will be very interesting.
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his original intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. And the calls would expire in less than 1 year. Yet, he bought dirt cheap calls above the multi-year high? Why? This would be a REALLY dumb move, if he were an honest market player.
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump. Why not?
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months. IOW: His play was not working ... at all.
(5) Right before he sold it all, the price began to shoot up again, from under $5 to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures. (Getting out even.)
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
If you wanna see what insider stock manipulation looks like ... well this is pretty damn close.
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his original intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. And the calls would expire in less than 1 year. Yet, he bought dirt cheap calls above the multi-year high? Why? This would be a REALLY dumb move, if he were an honest market player.
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump. Why not?
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months. IOW: His play was not working ... at all.
(5) Right before he sold it all, the price began to shoot up again, from under $5 to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures. (Getting out even.)
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his original intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. And the calls would expire in less than 1 year. Yet, he bought dirt cheap calls above the multi-year high? Why? This would be a REALLY dumb move, if he were an honest market player.
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump. Why not?
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months. IOW: His play was not working ... at all.
(5) Right before he sold it all, the price began to shoot up again, from under $5 to to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures. (Getting out even.)
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story window, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. Yet, he bought dirt cheap calls above the multi-year high? Why?
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump.
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months.
(5) Right before he sold it all, the price began to shoot up again, from under $5 to to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures.
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story building, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. Yet, he bought dirt cheap calls above the multi-year high? Why?
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump.
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months.
(5) Right before he sold it all, the price began to shoot up again, from under $5 to to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures.
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...
You can find all of Ryan Cohen's SEC filings, under his LLC name of RC Ventures LLC, here:
March 7, 2022, he filed with the SEC his letter to BBBY, indicating he wanted to influence the direction of the company. At the time, he owned 9.8% of the company's stock:
https://www.sec.gov/Archives/edgar/data/886158/000119380522000426/ex991to13d13351002_03072022.htm
March 25, 2022, he filed with the SEC his agreement with BBBY the he could appoint 3 directors to the board of directors:
https://www.sec.gov/Archives/edgar/data/886158/000092189522000972/ex991to13da113351002_032422.htm
These would be considered the actions of a "long-term investor."
Article about it:
April 21, 2022, he bought 1.6 million shares worth of call options, which would expire in January 2023, and they were WAY "out of the money" which means they were very cheap to buy. He probably only spent a couple hundred grand.
Looks like a "big splash" of confidence in the near-term future direction of the company.
BUT ... he did NOT disclose this at the time. KEY POINT
August 15, 2022, he FINALLY discloses his purchase of the call options back in April, with an SEC filing:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001197/xslF345X02/e621885_3-bbby.xml
This indicated to the market that he was strongly bullish on the direction of the company. He did NOT disclose any intention to sell, as of August 15.
The NEXT DAY, August 16, 2022, he filed an "updated" disclosure with the SEC of his BBBY holdings -- something that appears to me was not necessary, and kept up the idea to the market that he was strongly bullish on the company:
https://www.sec.gov/Archives/edgar/data/886158/000119380522001199/e621886_sc13da-rcv.htm
BUT ... the NEXT DAY ... August 17, 2022 ... he SOLD IT ALL:
August 18, 2022, he filed this SEC document showing "0" (zero) shares owned AFTER the dump:
https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm
This appears to be a violation of SEC insider trading laws:
Investor Ryan Cohen might have run afoul of disclosure guidelines in his surprise sale of Bed Bath & Beyond Inc. BBBY -0.92%▼ stock this month, securities lawyers said, but regulatory action against him appears unlikely.
Mr. Cohen sold his entire stake in the home-goods retailer on Aug. 16 and 17, just months after he took a significant position in the company and pledged to force changes there. Shares tumbled after news of his sales came out on the afternoon of the 17th, but meanwhile Mr. Cohen benefited from a huge surge in volume that enabled him to sell millions of shares while prices rose.
SEC rules dictate that investors must promptly update the form to reflect any material changes to what they first disclosed, such as new plans to buy or sell shares.
Within minutes or hours of the ownership disclosure, Mr. Cohen began selling. Individual investors “have no idea he is dumping the stock against them,” said Joshua Mitts, a law professor at Columbia University who specializes in analytical research on trading strategies.
The Securities and Exchange Commission could investigate whether Mr. Cohen had a plan to sell before he filed the Aug. 16 update that he should have disclosed, according to former regulators and law professors who specialize in securities law.
“The question here is at the time that Cohen filed that trivial update, had he firmed up his decision to sell?” said Keith Higgins, a former director of the SEC division that oversees public-company disclosures. “And if he did or if he had, that omission is problematic.”
In addition, there is a lawsuit against him and the CFO who just jumped out of the 18-story building, alleging that the two concocted a scheme ("conspiracy") to manipulate the price of the stock:
https://greatawakening.win/p/15JTyVAgqN/
Now ...
Let's look at the chart:
https://www.barchart.com/stocks/quotes/BBBY/interactive-chart
A few things IMMEDIATELY jump out at me:
(1) There was a huge spike in the BBBY stock price on 3/7/22, right as Cohen announced his intentions. The price almost doubled overnight.
(2) Cohen's options purchases in April were for strike prices of $60-$80 when the price was around $20. The price had not been at those levels in over 7 years. Yet, he bought dirt cheap calls above the multi-year high? Why?
(3) He did NOT disclose this purchase until the DAY BEFORE he started the stock dump.
(4) Despite all this, the stock price continued to fall back down, from over $30 to under $5 in just 3 months.
(5) Right before he sold it all, the price began to shoot up again, from under $5 to to $30, with a big spike from $15 to $30 in TWO DAYS ... RIGHT WHEN HE DISCLOSED HIS PREVIOUS OPTION PURCHASE.
(6) As the market was buying up shares on the news of his options purchase, he was SELLING IT ALL into the rally -- right around the price that it was back in March, when he first started his disclosures.
(7) This means SOMEONE KNEW that Cohen and/or someone else was pumping the stock. A stock does not shoot up like that on NO NEWS ... unless someone is playing manipulation games.
This STRONGLY lends credibility to the lawsuit against Cohen, his dead partner, and JP Morgan.
There is also THIS little problem:
The guy who jumped out the window filed a statement with the SEC, on August 17, 2022 ... just as Cohen was dumping his stock, which stated:
“We were pleased to have reached a constructive agreement with RC Ventures in March and are committed to maximizing value for all shareholders. We are continuing to execute on our priorities to enhance liquidity, make strategic changes and improve operations to win back customers, and drive cost efficiencies; all to restore our company to its heritage as the best destination for the home, for all stakeholders. Specifically, we have been working expeditiously over the past several weeks with external financial advisors and lenders on strengthening our balance sheet, and the Company will provide more information in an update at the end of this month.” -- Gustavo Arnal, Chief Financial Officer
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000138713122008865/bbby-8k_081722.htm
Famous last words ...