 "A customer walks into a Bed Bath & Beyond store in Novi, Michigan (Photo: Reuters)")
Bed Bath & Beyond rally fizzles out as Bed Bath & Beyond Inc shares dropped 12.5% on Thursday after billionaire investor Ryan Cohen disclosed plans to sell his entire stake in the struggling retailer, following a stunning rally in the meme stock this month.
Cohen's investment vehicle RC Ventures intends to sell 9.45 million shares, a filing late on Wednesday showed. The second largest investor in the firm also proposed a sale of its January call options with strike prices between $60 and $80.
The disclosure of those bullish bets had sparked chatter among retail investors, driving record trading in the stock
