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Bed Bath & Beyond Falls as Cohen Files to Sell His ~9.5M Shares

Published 08/17/2022, 04:35 PM
Updated 08/17/2022, 04:46 PM
© Reuters Bed Bath & Beyond (BBBY) Falls as Cohen Files to Sell His ~9.5M Shares

By Investing.com Staff

Bed Bath & Beyond (NASDAQ:BBBY) sold off into the close after Ryan Cohen's RC Ventures filed a Form 144 with the SEC to sell his 9,450,100 shares starting on 08/16/22.

This is equal to about 9.8% of the shares outstanding and is the amount of stock owned by Mr. Cohen via a February 24, 2022, SEC filing.

According to the filing, it represents the potential sale of up to 7,780,000 common stock and the following call options: 11,257 BBBY CALLS 01/20/23 @ $60, 5,000 BBBY CALLS 01/20/23 @ $80, 444 BBBY CALL 01/20/23 @ $75.

The shares will be sold via JPMorgan.

The sale comes as a surprise as Mr. Cohen had been working with the board to turn around the company. Also, Cohen's stake has been a driver for the recent short squeeze and meme-stock rally in the name.

A copy of the filing can be viewed here and here.

Latest comments

Tried for the gamma squeeze. No Bueno.
"Thanks for driving the stock up 300%, beyond my wildest dreams - see-ya" - Mr. Cohen
still up like 400% lol
oh brother. The entire market sold off into the close...
How can they say, already Now, that in 2023 it's gonna rise to about 80 and its gonna be i January, come ooooonnnn !
hodl! I'm sure you'll all be millionaires! LOL
Hedgies creating panic by fake news. Buy...apes...buuyyy
b&h - new moon rocket easy. Crash the munipulative funds! We'll win!!!
rip bbby
I smell lawsuit
Guys, this is not him selling. This is really really good, the upside potential is huge. Look how high trading he filed to sell his calls!
This is completely fake and absolutely market manipulation. I hope they have the foresight to retract it and apologize before it becomes serious.
Economic meaning?
I hope he gets ****by a full sized rake
lol. I don't blame him. he's cashing in on the inflated price that these idiots pumped it up to.
the amount of FUD is insane
Somethings cooking up
set you up.take him out.
😬
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