Ryan Cohen makes $68 million in profits from Bed Bath & Beyond trade
Billionaire Ryan Cohen pocketed $68.1 million in profit from the sale of his shares in Bed Bath & Beyond, achieving a 56% return on the investment he held for about seven months.
Cohen’s RC Ventures paid $121.2 million between mid-January and early March for 7.78 million shares and other 1.67 million share call options, a regulatory filing for see. He unloaded them all this week with a total value of $189.3 million, according to filings Thursday after US markets closed.
The sales come amid struggling retailer’s shares soaring this weekwith stock prices more than quadrupling from recent lows in July.
Bed Bath & Beyond shares fell as much as 27% in late trading after Cohen’s departure was revealed.
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