Meme stock Bed Bath & Beyond sinks after investor Cohen’s exit

(Reuters) Bed Bath & Beyond Inc (BBBY.O) shares tumbled 35% after the bell on Thursday as billionaire investor Ryan Cohen exited the struggling home goods retailer by selling his stake following a stunning rally in the meme stock this month. Cohen’s RC Ventures was the second largest investor in the company. The venture capital firm said in a regulatory filing that it has no stake as of Aug. 16.

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