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One thread on WallStreetBets posted before Cohen's notice to sell became public blared “BED BATH AND BELIEVE," as chatter across the forum focused on how regular people working together can face down professional hedge funds who bet on the stock’s price to fall. Cohen, a co-founder at Chewy, was at the heart of the GameStop meme saga last year after he took a stake in the struggling video-game retailer.Ĭohen built a huge following on Reddit and on social media in 2021 as smaller investors gobbled up meme stocks. It's hard to pinpoint why anyone would pour money into a company that's flashing as many warning signs as Bed Beth & Beyond, but it echoes the 2021 trend where small investors banded together in online forums to stoke a frenzy over certain struggling companies, like GameStop, AMC and Bed Bath & Beyond.īed Bath & Beyond shares also skyrocketed in March when the investment firm of billionaire Cohen took a 10% stake in the company and recommended that it sell all or part of its business.
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