Published on 19 Aug 2022 on MarketWatch
Meme stock Bed Bath & Beyond ‘decoupled from economic reality’ but now getting crushed; it isn’t...
This is an eventful time for meme stocks, as evidenced by Bed Bath & Beyond’s rollercoaster week.
Shares of the troubled retailer skyrocketed recently, driven by the Wall Street Bets crowd on Reddit. However, a filing with the Securities and Exchange Commission made public on Wednesday afternoon showed that investor Ryan Cohen in the home goods retailer. Then an SEC filing made public after markets closed Thursday showed that Cohen’s RC Ventures had in Bed Bath & Beyond Inc. sending its shares plunging for a second consecutive day.