The store in my local mall closed last year and another one I occasionally visit had been looking pretty forlorn. Sure signs things were looking grim. Too bad. It was a good place to pick up kitchen things.
Bed Bath and Beyond files for bankruptcy
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Re: Bed Bath and Beyond files for bankruptcy
#12I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…
What's Matt Levine's take?
Re: Bed Bath and Beyond files for bankruptcy
#13I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…
>I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale.
I'm not clear on why your next sentence is:
>But it is clear they were doing it out of bad-faith to the new investors.
Where is the "bad-faith" in caveat emptor?
Re: Bed Bath and Beyond files for bankruptcy
#14I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…
I have a hard time feeling sorry for any retail investors who made the decision to buy BBBY on their own.
Re: Bed Bath and Beyond files for bankruptcy
#15I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…
Bed Bath followed the email scammer strategy of making their scam so obvious only the most financially illiterate people could fall for it. Hard to pull of, but once you've got an investor base that's willing to believe anything you can dilute them repeatedly and they'll still believe it's 5D chess.
Re: Bed Bath and Beyond files for bankruptcy
#16I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…
Bed Bath and Beyond the Pale
Re: Bed Bath and Beyond files for bankruptcy
#17Just watched a documentary about a deranged BBBY superfan: https://www.youtube.com/watch?v=yrU0DAAylEk
In one of his videos I he was standing in an empty parking lot shouting into a megaphone that Bed Bath & Beyond would never go bankrupt. I think he did the same thing in front of Lehman brothers (minus the megaphone).
Re: Bed Bath and Beyond files for bankruptcy
#18Nothing quite like a BBB store closing sale. I've gotten some great items at 40% off over the past few years as they have been closing stores. Only 1 left around me, which is about to close.
Re: Bed Bath and Beyond files for bankruptcy
#19I find the whole situation fascinating. Bed Bath continued to sell hundreds of millions of shares while they were preparing for bankruptcy and retail investors (or meme stock investors) continued to buy them. I assume Bed Bath did all the paperwork that is necessary (like calling out risks, that the raised capital will go to creditors first, etc) for such a stock sale. But it is clear they were doing it out of bad-fa…
What's Matt Levine's take?
Re: Bed Bath and Beyond files for bankruptcy
#20Someday, all those 20% off coupons they mailed out will be as quaint a collector's item as the America Online CD's.