Wednesday, June 7, 2023
HomeUncategorizedBed Bath & Beyond Stock Prediction: BBBY Soars 40% on Ryan Cohen's...

Bed Bath & Beyond Stock Prediction: BBBY Soars 40% on Ryan Cohen's Null Call

  • BBBY stock rose more than 40% in premarket trading Wednesday.
  • Shares of Bed Bath & Beyond are up 300% in the past month.
  • GameStop Chairman Ryan Cohen purchased 16,000 calling contracts.

Bed Bath & Beyond (BBBY) Inventory

In Disclosure Major Investor Ryan Cohen has bought at least 16,000 call contracts above $60 on BBBY. BBBY stock rose 29% to $20.65 on Tuesday. Shares of the meme have risen about 300% in the past month, even as many analysts believe the home improvement retailer is heading for bankruptcy. READ ALSO : Exxon Mobil Deep Dive: $94 price target due to lower oil prices BBBY stock news

So what does it have to do with Ryan Cohen? Cohen, Chewy’s Savior (CHWY) and Chairman of GameStop (GME)

, became the most high-profile backer meme stock. After being able to turn around, Cohen was largely seen as a retail prodigy.

Cohen’s 16,000 call options expiring in January 2023 with strike prices ranging from $60 to between $80. This would require a huge short squeeze , possibly the mother of all squeezes borrows a phrase from AMC Ape . These can only be cashed if BBBY stock goes up at least 300% to 400%, although he may sell as their value has risen rapidly . Option purchases were made through Cohen’s RC Ventures investment vehicle. Cohen was reported back in March Just owns more than 11% of BBBY , and although the stock has fallen below $5 in recent months, most of his purchases are estimated to be above $20 per share Before the recent surge in popularity. The retailer lost about $224 million in operating income in the fiscal first quarter and only reported $107 million in cash. Loop Capital gave the struggling retailer a $1 price target earlier this month, saying it was chasing Sears. BBBY Stock Forecast

BBBY STOCK has reached March resistance between $28 and $30 in premarket trading on Wednesday. Above is the $39-$40 resistance area from June 2021. The June 2, 2021 high was $44.51. After that, it’s just $53.90, the hysterical high of the first wave of meme stocks on January 27, 2021. To trigger Cohen’s call option, BBBY stock would need to climb about 60% from its January 2021 high. The stock’s all-time high since January 2014 was $80.82. The Relative Strength Index for BBBY stocks has moved from oversold to overbought (RSI) only since July.


The information on these pages contains forward-looking statements that involve risks and uncertainties. The markets and instruments described on this page are for informational purposes only and should not be taken as a recommendation to buy or sell these assets in any way. You should conduct your own thorough research before making any investment decision. FXStreet does not warrant in any way that this information is free of errors, errors or material misstatements. It also does not guarantee that the information is timely. Investing in public markets involves a number of risks, including loss of all or part of your investment, and emotional distress. All risks, losses and costs associated with investing, including the entire loss of principal, are borne by you. The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of FXStreet or its advertisers. The author is not responsible for the information at the end of links published on this page.

If not explicitly mentioned in the text of the article, at the time of writing, the author has no position on the in any of the stocks mentioned in and have no business relationship with any of the companies mentioned. The author received no compensation for writing this article, except from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness or suitability of this information. FXStreet and the author shall not be liable for any errors, omissions or any loss, injury or damage arising out of this information and its display or use. Errors and omissions excluded.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.



Please enter your comment!
Please enter your name here


Featured NEWS