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Why Bed Bath & Beyond Stock Tanked Today

TheMotleyFool

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Why Bed Bath & Beyond Stock Tanked TodayPhoto, wide shot, wide-angle lens, Toy manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/2788fcd3-d339-4592-8f5c-a3b9125dc61f.png

It seems there might be a fight in the works for control of retailer Bed Bath & Beyond (NASDAQ: BBBY). On news that a recently arrived major shareholder seems to be gearing up for a scuffle, investors scurried away on Thursday, trading the company's stock down by almost 7%.

That shareholder is RC Ventures, headed by activist investor Ryan Cohen. The founder of the pet goods company now known as Chewy, Cohen is perhaps best known for his recent involvement with video game retailer GameStop, where he is now the chairman of the board.

Image source: Getty Images.

Source Fool.com

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