Cohen Sells Stake in Bed Bath & Beyond, Pressuring Shares

by | Aug 18, 2022 | Business

Billionaire investor Ryan Cohen cashed out his entire position in Bed Bath & Beyond this week, capping a wild stretch of trading in the stock and marking the latest sign that meme-stock mania is still alive. Mr. Cohen, the co-founder of pet-supply retailer Chewy Inc., developed a deep fan base of individual investors last year after he ascended to become chairman of GameStop Corp., the original meme stock. In March, he revealed an activist position in Bed Bath & Beyond, sparking a rally in its share price.

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