Bed Bath & Beyond shares soar as Ryan Cohen takes huge stake

By MICHELLE CHAPMAN
AP Business Writer

The investment firm of billionaire Ryan Cohen has taken a large stake in Bed Bath & Beyond and is recommending that the struggling retailer sell all or part of its business. RC Ventures LLC has acquired a nearly 10% stake in Bed Bath & Beyond, according to a regulatory filing. RC stands for Ryan Cohen, a co-founder at Chewy, who was at heart of the GameStop meme saga last year. Cohen built a huge following on Reddit and on social media in 2021 as smaller investors gobbled up GameStop and other meme stocks. News of his possible involvement at Bed Bath & beyond sent shares of the company up 34% Monday.