Ryan Cohen Exits Entire Bed Bath & Beyond Stake, Drives 27% Drop
- RC Ventures completes exit of position in home-goods retailer
- Shares drop 27% in after-hours trading after 20% dive Thursday
A Bed Bath & Beyond store in Greendale, Wisconsin.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Five months after disclosing a stake in Bed Bath & Beyond Inc., activist shareholder Ryan Cohen has tapped out, sparking a selloff in the shares of the home goods retailer.
The Union, New Jersey-based company slumped 27% in late trading, on top of a 20% fall in Thursday’s regular session, after a filing with the US Securities and Exchange Commission confirmed Cohen’s RC Ventures exited its entire position on the company.