Meme stock influencer Ryan Cohen is sending Bed Bath & Beyond stock plummeting. Shares of the badly struggling retailer cratered 45% in pre-market trading on Friday as it was disclosed late Thursday Cohen's RC Ventures sold his entire position in Bed Bath & Beyond. Cohen, who is also the chairman of GameStop, had about an 11.8% stake in the company, YahooFinance.com reported. Cohen's exit caps off an otherwise crazy week of trading for a retailer not too far away from entering a grave alongside Sears, Kmart, Borders, and Circuit City. Bed Bath & Beyond stock skyrocketed by nearly 70% in intraday trading on Tuesday as a result of a massive short squeeze. BBBY stock finished that session up 29% in a volatile day. From Tuesday's close to prior to Cohen's disclosure after Thursday's session, shares had gained another 17%. Cohen initially disclosed a 9.8% stake in the company in March, and the recent resurgence of BBBY stock involved the meme community once again rallying together to counter institutional forces that hold opposing views on the stock and the underlying business.
