GameStop Chairman Ryan Cohen Sells Entire Bed Bath Beyond Stake
$681 Million Profit
Expansion Plans Scrapped
GameStop chairman Ryan Cohen has sold his entire position in Bed Bath Beyond BBBY, a filing with the SEC on Thursday revealed. Cohen, who had owned a 9.8% stake in the retailer, had been urging the company's bosses to make changes, including closing stores and expanding the company's online presence.
Cohen's sale of his Bed Bath Beyond stake is a significant blow to the company, which has been struggling in recent years. The company's shares have lost more than 80% of their value over the past year, and it has been closing stores and laying off employees.
Cohen's sale comes just weeks after Bed Bath Beyond announced that it had reached an agreement with him to expand its board of directors. The company had agreed to add three new directors to its board, including Cohen himself.
It is unclear what Cohen's plans are for the future. However, his sale of his Bed Bath Beyond stake is likely to raise questions about the company's future.
**Conclusion** Ryan Cohen's sale of his Bed Bath Beyond stake is a major development that is likely to have a significant impact on the company. The sale is a sign of Cohen's growing disillusionment with the company, and it could lead to further turmoil at Bed Bath Beyond.
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