![]() ![]() Always do additional research and consult a professional before purchasing a security. The author has no securities or affiliations related to this organization. Information for this briefing was found via The Wall Street Journal and the sources and companies mentioned. The banner was acquired for US$21.5 million, which was acquired via the US Bankruptcy Court through a winning bid on the assets. Notably, the online retailer will not be acquiring any of the brick and mortar business, with the revived banner slated to become an online-only brand with no physical presence. The transaction saw Overstock acquire the trademarks, tradenames, website and domain names, customer database, patents, loyalty program, and other brand assets related to the Bed Bath & Beyond banner. It was revealed in June that the brand name Bed Bath & Beyond has been acquired in bankruptcy court, with (NASDAQ: OSTK) slated to acquire the failed brand. It’s worth noting that Bed Bath & Beyond filed for bankruptcy in April. ![]() The second update, filed on August 18, stated that he had commenced selling all of his shares two days earlier. The first, on August 16, 2022, indicated that he had not engaged in any trading over the previous 60 days. In the week following his tweet, Cohen filed two public updates regarding his Bed Bath & Beyond holdings. The forecasts range from a low of 0.70 to a high of 2.00. ![]() Judge McFadden, in refusing to dismiss the case, stated that investors had made plausible claims that Cohen’s tweet implied that Bed Bath & Beyond’s stock would rise, encouraging his followers to buy or hold shares. Based on short-term price targets offered by six analysts, the average price target for Bed Bath & Beyond comes to 1.37. Additionally, he pointed out that he had previously disclosed the possibility of selling some or all of his shares, providing investors with notice of this possibility. He explained that he decided to sell because the stock price had unexpectedly exceeded his perceived value. In response to the lawsuit, Cohen denied misleading the market regarding his trading intentions. Is Ryan Cohen About To Do A Bed Bath & Beyond On Alibaba?Īccording to the investors’ lawsuit, Cohen’s tweet on August 12, 2022, in response to a negative news article about Bed Bath & Beyond, included a moon emoji, which some investors interpreted as a bullish signal, causing the stock to rise by 12% that day. ![]()
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