The paper of the US company, which sells kitchen, household and bathroom equipment, collapsed by 40 percent on Friday.
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Denver, Dusseldorf It was to be the big comeback of meme stocks. US retailer Bed Bath & Beyond’s share price quadrupled in August, driving many small investors back into risky bets. The event was reminiscent of the wild speculation of the past year. At that time, young traders coordinated on social media such as Reddit and catapulted the prices of stocks such as Gamestop, AMC and other actually unsuccessful companies to unimagined heights.
This time, meme stocks’ renaissance was short-lived and ended with a bitter aftertaste: Bed Bath & Beyond’s stock plummeted 40 percent on Friday, after falling nearly 20 percent on Thursday – And the beneficiary of this development is, of all people, the activist investor Ryan Cohen, who has been celebrated as a hero in the online forums up until now.
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