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id: 126, Created by Stan Vick, Scout
Bed Bath & Beyond Inc
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Ryan Cohen, the entrepreneur and influencer, sent a letter to Bed Bath & Beyond’s board which announced that he owned through his investment company RC Ventures LLC a 9.8% stake in Bed Bath & Beyond and criticized the Company’s management.
On this news Bed Bath & Beyond stock rose by 34% on March 7, 2022.
Later on March 25, 2022, Bed Bath & Beyond joined three new directors appointed by Ryan Cohen’s investment firm, RC Ventures LLC.
While the actions themselves look legitimate, given subsequent speculative actions later that year, there is reason to believe that the original intentions were manipulative rather than strategic actions by the activist investor, which can be seen as violation of the rights of other market participants.
Shock Event Date
06 March 2022