GameStop Chairman Ryan Cohen disclosed he’s planning to sell his big stake in Bed Bath & Beyond just months after he bought it.
Bed Bath & Beyond Inc. shares fell more than 15% in the extended session Wednesday after GameStop Corp. Chairman Ryan Cohen disclosed he’s planning to sell his big stake in the company just months after he bought it.
Bed Bath & Beyond BBBY, +11.77% shares were last down 17% after hours, following an 11.8% rally in the regular session to close at $23.08. In a filing with the Securities and Exchange Commission and in a Form 144 filing, Cohen’s RC Ventures announced plans to sell its stake in Bed Bath & Beyond, which comes to 7.8 million shares owned, and call options that require RC to register 9.5 million shares for sale, or nearly 12% of the company’s 80 million outstanding shares.Ryan, who is also co-founder of online pet-products retailer Chewy Inc. CHWY, -3.52%, was voted to chair GameStop GME, -3.96% in June 2021.
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