After speculation, it is true that Major shareholder Ryan Cohen sold 5,000,000 shares of Bed Bath & Beyond stock ($Bed Bath & Beyond(BBBY)$in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $21.17, for a total transaction of $105,850,000.00. The sale was disclosed in a legal filing with the SEC. It is also reported that it was co-operating with financial advisors on strengthening its financial position, a likelihood that it has to get fundings to stay in business. The outlook does not look good as of this moment.
At the point of writing, it has fallen to less than $11, a plunge of more than 42% from its closing price $18.55 on Thursday 18 Aug.
Source
kopsource, Reuters
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