Official documents show that billionaire investor Ryan Cohen has acquired a 9.8% stake in Bed Bath & Beyond Inc (NASDAQ: BBY). Cohen is the chairman of the board of directors for GameStop Corp (NYSE: GME). On March 6, 2022, Cohen also sent a letter to the company’s board of directors to adjust its strategy and explore alternative paths. The investor called for the exploration of strategic alternatives, including separating buybuy Baby, Inc. and a complete sale of the company. In response to the letter from Cohen’s RC Ventures, the company stated: “The board of directors and management team of Bed Bath & Beyond maintain a consistent dialogue with our shareholders and while we have not had previous contact with RC Ventures, we will follow up their letter and hope to be constructively involved with the ideas they have put forward.” Price Action: BBBY stocks traded 62.5% higher on final check Monday at $26.30 in premarket.
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