Bed Bath & Beyond's bankruptcy had short sellers making over $1 billion, while leaving retail traders with losses t.co/FhFcJwC5Nt
— Bloomberg (@business) April 24, 2023
(Bloomberg) — Bed Bath & Beyond Inc.’s bankruptcy has netted more than a billion in paper profits for skeptics who bet against the big-box retailer, while amateur investors have been left holding a nearly empty bag.
The 99% plunge in the shares this year has delivered a $142 million boost in mark-to-market profits for short sellers, according to S3 Partners data, bringing potential returns since the January 2021 peak to $1.3 billion. For retail traders who bet on the meme stock, they’re likely sitting on losses of nearly $140 million this year, according to a Bloomberg analysis of Vanda Research data.
finance.yahoo.com/news/bed-bath-beyond-fallout-makes-171721219.html
— Mostly Peaceful Memes (@MostlyPeacefull) April 23, 2023
h/t dr0id