Some say they are proponents of a theory that a holding company with ties to billionaire Chewy founder Ryan Cohen will buy the company out of bankruptcy, as The Wall Street Journal has reported Cohen helped to ignite a brief but intense rally in Bed Bath & Beyond shares last summer when he revealed he had taken a stake in the retailer, which he sold soon after. The Bed Bath & Beyond subreddit in particular has become home to investors looking to keep the faith, or continue buying. Neither user responded to requests for comment from MarketWatch.Įlsewhere on Reddit, others urged one another to keep buying despite the steep decline. One user reported a loss of $8,000 on an investment in the retailer, which was once a giant in the home-goods space, attracting loyal customers with its once-iconic blue coupons, according to media reports.Īnother user who posted with the handle Odd-Return6226 shared a screenshot of a brokerage account showing a loss of more than $62,000 on Bed Bath & Beyond alone. Denizens of the subreddit refer to posts like this as "loss porn." Soon, others chimed in with stories about their own losses tied to Bed Bath & Beyond and other stocks, along with advice about how they managed to reckon with them, and move on. His comment means he would hold until it went to zero in the hopes that a last-minute turnaround might help to recoup some of those losses.Īaron's post elicited a flurry of responses on the subreddit, which has a reputation as a venue for investors to share stories about their losses and gains. "When it reached 70 cents, I kind of gave up on tracking it, told myself it will be just 'hero' or 'zero'," Aaron said in a messaging exchange with MarketWatch. See:Bed Bath & Beyond bankruptcy: Here's what happens nextīed Bath & Beyond shares were trading at around $2.70 in late January and early February, and Aaron said he built his position during that period.Īs the stock moved lower, he decided he would "diamond hands" the position, a term used on social media to describe holding a security or derivative contract in the face of mounting losses. MarketWatch didn't receive a response when it reached out to the channel. He bought Bed Bath & Beyond at a weighted average cost of around $2.70 per share after seeing the stock pitched on a YouTube channel called TraderTV Live, which boasts nearly 400,000 subscribers. dollars.Īaron said he earned some of the money used to buy Bed Bath & Beyond shares trading cryptocurrencies.īut earlier this year, he decided to try his hand day-trading stocks. The brokerage account information he shared showed the loss denominated in U.S. The user told MarketWatch his name is Aaron and said he is based in Australia, but declined to disclose any additional information. The Reddit user, who uses the handle BruhPaul, shared a screenshot of his brokerage account showing an unrealized loss of $99,815.48, although Bed Bath & Beyond (BBBY) shares have moved lower since then. In a post that generated more than 1,000 comments on the "Wall Street Bets" subreddit, one investor shared his experience losing roughly $100,000 on the troubled home-goods retailer over the past several months. See:Bed Bath & Beyond gets Nasdaq delisting notice following bankruptcy: Here's what you need to know following the company's filing for Chapter 11 bankruptcy protection, some retail traders are taking to Reddit to commiserate about their losses, while others say they are doubling down and continuing to buy as the share price sinks further below 25 cents. As the Nasdaq prepares to delist shares of Bed Bath & Beyond Inc.
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