Activist investor Ryan Cohen completes planned sale of Bed Bath & Beyond stake, stock falls 30%

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Shoppers walk past a Bed Bath & Beyond store in Washington, D.C.
Andrew Harrer | Bloomberg | Getty Images

Activist investor Ryan Cohen has exited his position in retailer Bed Bath & Beyond, according to a securities filing released Thursday afternoon.

The filing shows that Cohen’s RC Ventures dumped its stock on Tuesday and Wednesday at a range of prices between $18.68 per share and $29.22 per share. The firm also sold its call options. Cohen said in a filing earlier this week that he intended to sell his holdings of the meme stock.

Shares of Bed Bath & Beyond have rocketed higher this month, fueled in part by retail traders in an apparent revival of the meme trading craze.

Cohen, who co-founded Chewy and is the chairman of GameStop, purchased more than 7 million shares and call options of Bed Bath & Beyond earlier this year. The company added board members of Cohen’s choosing and pushed out its CEO after RC Ventures revealed its stake.

Shares of the stock fell 20% in extended trading.

This is breaking news. Please check back for updates.

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