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Bed bath and beyond stock price in 20168/14/2023 ![]() ![]() This news sent the stock up 29% on August 16 “on extremely heavy trading volume.” On August 15, 2022, RC Ventures “announced in an SEC filing purchases of over one million January 2023 call options with exercise prices at $60, $75, and $80-significantly higher than Bed Bath & Beyond shares were trading,” according to a BusinessWire press release of a lawsuit filed by Bragar Eagel & Squire. ![]() Last month, Cohen dumped his BBBY common share holdings at what looks like an impressive profit which CNBC estimated at $59 million - abetted by a big bet on call options - which give the owner the right, but not the obligation, to acquire shares at a specified price in the future.įirst came Cohen’s big purchase of such call options with an exercise price way above the stock’s then-current market value - signaling that he expected BBBY stock to go way up. Specifically, in March his RC Ventures reported that it held 9.8% of BBBY common shares at which time Cohen wrote a letter to its board in which he “ several necessary and significant operational changes - including a potential full sale of the company,” according to GoBankingRates. In March, Cohen - an activist investor who is chair of GameStop and co-founder of Chewy - announced a big stake in BBBY which he suddenly dumped in August. What a short, strange trip it’s been for Cohen and BBBY! Cohen’s completion of his stock sale.” Last week, BBBY said that “it believed the suit is without merit,” noted the Journal. On August 23, Arnal and Cohen were named as plaintiffs in a shareholder lawsuit alleging that “the pair sought to inflate the company’s share price before Mr. ![]()
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