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BED BATH & BEYOND INC.

(BBBY)
  Report
Real-time Estimate Cboe BZX  -  07:32 2022-10-03 am EDT
6.030 USD   -0.99%
06:43aSocial Buzz: Wallstreetbets Stocks Down Premarket; Credit Suisse, Tesla Poised to Plunge
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09/30Bed Bath & Beyond Expects Breakeven Cash Flow by Q4 Despite 'Worse Than Expected' Q2 Results, Wedbush Says
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09/30U.S. consumers spurn cars, couches and cruises, results show
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Meme stocks in reverse as Bed Bath & Beyond slump spooks investors

08/19/2022 | 10:31am EDT
FILE PHOTO: Closed signs are seen on an AMC Theatre during the outbreak of the coronavirus disease (COVID-19), in New York

(Reuters) - Retail favorites GameStop and AMC Entertainment fell on Friday, undoing much of their recent gains after billionaire Ryan Cohen abruptly dumped his stake in struggling retailer Bed Bath & Beyond days after he took a bullish options position in the stock.

Bed Bath & Beyond Inc's shares extended their plunge, falling 42% to $10.80, after Cohen said a day earlier he had sold his 9.8% stake in the company, almost five months after amassing it and pushing for changes.

The stake sale could result in a windfall between $55 million and $60 million for Cohen, according to a Reuters review of regulatory filings.

Bed Bath & Beyond's shares shot up to $30 earlier this week after Cohen bought some call options on Tuesday, vaulting from $4.38 in July in frenzied trading that evoked memories of the meme-stock rally of early 2021.

Should losses hold, the stock is set to swallow its weekly gains of 43%.

"If he hadn't sold, this stock seemed to have real potential as GME 2.0. Ryan selling killed any momentum unfortunately," said a retail trader, who had invested in Bed Bath & Beyond when the stock was at $6.

Cohen has about 12% stake in GameStop Corp, which at the height of the retail frenzy in January 2020 had shot up 1,600%, and is the largest shareholder.

GameStop and AMC Entertainment were down between 4% and 6%. E-commerce firm Vinco Ventures slumped 17%.

Despite Friday's losses, the stocks were up in the range of 3% to 55% this month.

"This latest rollercoaster isn't likely to extinguish the meme stock trend," said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown, adding the urge to ride the wave of speculation has gained ground as Wall Street has rallied over recent weeks.

Bed Bath and Beyond https://fingfx.thomsonreuters.com/gfx/mkt/zdvxozwdrpx/Bed%20Bath%20Beyond.PNG

(Reporting by Anisha Sircar, Susan Mathew and Bansari Mayur Kamdar in Bengaluru; Editing by Shinjini Ganguli)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMC ENTERTAINMENT HOLDINGS, INC. -1.83% 6.97 Delayed Quote.-59.68%
BED BATH & BEYOND INC. -1.62% 6.09 Delayed Quote.-58.23%
GAMESTOP CORP. -1.30% 25.13 Delayed Quote.-32.26%
HARGREAVES LANSDOWN PLC -5.19% 822.2 Delayed Quote.-36.00%
VINCO VENTURES, INC. 1.98% 0.9312 Delayed Quote.-56.59%
All news about BED BATH & BEYOND INC.
06:43aSocial Buzz: Wallstreetbets Stocks Down Premarket; Credit Suisse, Tesla Pois..
MT
09/30Bed Bath & Beyond Expects Breakeven Cash Flow by Q4 Despite 'Worse Than Expected' Q2 Re..
MT
09/30U.S. consumers spurn cars, couches and cruises, results show
RE
09/30Odeon Capital Upgrades Bed Bath & Beyond to Hold From Sell, Maintains $7.50 Price Targe..
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09/30Social Buzz: Wallstreetbets Stocks Up Premarket, With Exception of Nike; Mic..
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09/29Bed Bath & Beyond Swings to Fiscal Q2 Adjusted Net Loss as Net Sales Fall -- Shares Dec..
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09/29Bed Bath & Beyond Misses Fiscal Second-Quarter Views, Affirms Full-Year Outlook
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Analyst Recommendations on BED BATH & BEYOND INC.
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Financials (USD)
Sales 2023 6 018 M - -
Net income 2023 -954 M - -
Net Debt 2023 1 448 M - -
P/E ratio 2023 -0,52x
Yield 2023 -
Capitalization 486 M 486 M -
EV / Sales 2023 0,32x
EV / Sales 2024 0,45x
Nbr of Employees 32 000
Free-Float 22,6%
Chart BED BATH & BEYOND INC.
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Bed Bath & Beyond Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends BED BATH & BEYOND INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 17
Last Close Price 6,09 $
Average target price 4,08 $
Spread / Average Target -33,0%
EPS Revisions
Managers and Directors
Sue E. Gove Chief Executive Officer & Director
Laura Crossen SVP-Finance, Chief Financial & Accounting Officer
Harriet Edelman Independent Chairman
Andrea M. Weiss Independent Director
Ann L. Yerger Independent Director
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