Did Ryan Cohen Sell His BBBY Stock?

UPDATE: Ryan Cohen sold all of his BBBY stock & call options between August 16th and August 17th 2022. He has a 0% stake in the company now. It looks like the entire BBBY movement was a clever pump and dump scheme.

On Wednesday August 17th 2022 after market close, SeekingAlpha and several other media outlets posted a headline that said Ryan Cohen sold his entire BBBY position.

Panic ensued, which caused BBBY stock to crash nearly 20% during aftermarket hours. There are thousands of worried investors & traders who bought BBBY shares and got caught on the wrong wide on the FUD.

In this article, I will explain exactly what happened and why there is no reason to panic right now.

Ryan Cohen Filed a Form 144 and Sold His Shares

Form 144 is a notice of intent to sell form that must be filed with the Securities and Exchange Commission (SEC) when a person who was granted shares plans to sell their unregistered shares.

Cohen filed the Form 144 and sold all of his stake in BBBY. You must file this form if you intend to sell more than 5,000 shares or in excess of $50,000 worth of securities within the next 90 days.

Why did he do this?

He sold to maximize his profits while BBBY was pumping to the moon. More details coming soon but right now Ryan Cohen is no longer a trustworthy advocate of the retail trader movement.

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