Dusseldorf Coming off one of the hottest rallies on Wall Street this year, it’s seen as the comeback of meme stocks: Bed Bath & Beyond stock. In August, the price of the US retailer quadrupled – until the crash occurred a few days ago. On August 19, the price collapsed by almost 40 percent within one day. Bed Bath & Beyond is currently down 54 percent from its record high.
The reason for the ups and downs is the activist investor Ryan Cohen, 36. After his entry, the American sent further buy signals via social media and thus drove the price up. But out of nowhere, Cohen got out again – and the course crashed.
Investors already know a similar course from Gamestop, for example. Last year, young traders coordinated via social networks and catapulted the price in a very short time before it crashed again soon afterwards. Ina Karabasz talks to Handelsblatt editor Andreas Neuhaus about why such phenomena will probably occur more frequently in the future and why experts at least do not advise small investors not to gamble.
Habeck wants to reform the electricity market
Also: The Federal Ministry of Economics is planning a fundamental reform of the electricity market, as the Handelsblatt first reported on Friday. The plan provides for the electricity price to be decoupled from the gas price, thus protecting consumers and industry from excessively high prices. Handelsblatt correspondent Klaus Stratmann explains what exactly the reform sought by Economics Minister Robert Habeck (Greens) should look like and when it could come into force.
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