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id: 128, Created by Stan Vick, Scout
Bed Bath & Beyond Inc
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Ryan Cohen, through his investment firm RC Ventures LLC, announced that he would sell his entire stake in Bed Bath & Beyond. Later on August 18, 2022, Bloomberg published an article disclosing that the Company hired a law firm to help with its debt.
On this news, Bed Bath & Beyond shares fell by 19%, to close at $18.55 per share on August 18, 2022.
While the actions themselves look legitimate, taking into account his Director and major shareholder roles, and previous actions earlier this month and year, there is reason to believe that the original intentions were manipulative, which can be seen as a violation of the rights of other market participants.
Shock Event Date
18 August 2022