10 ms·

This is surprisingly old news, but still somewhat interesting. I'm curious what led to this being posted today?

by aliljet 3y ago

ketzu 3y ago
AFAIK it is the newest meme stock, it popped up on the reddit front page the previous few days.
- michaelmcdonald 3y ago
  BBBY has been a meme stock for quite some time over the last couple of years.
- kube-system 3y ago
  It has been a meme stock at least since the whole gamestop thing in 2020/2021
  - ketzu 3y ago
    Back then the three big ones seemed to be Blackberry, AMC and Gamestop. If r/BBBY stats is anything to go by, I would say it wasn't that popular before mid 2022 [1] and is gaining traction since january. But it might have been bigger than I noticed. [1] https://subredditstats.com/r/BBBY https://subredditstats.com/r/BBBY
- jutrewag 3y ago
  [dead]
humanlion87 3y ago
They officially only filed for bankruptcy this weekend. Everybody (except the retail investors who were buying their stock offerings) knew this was coming.
- bookofjoe 3y ago
  >Individual investors who continued to back Bed Bath & Beyond during its final months, when it was flooding the market with shares, will likely be wiped out in chapter 11, which prioritizes the repayment of debt over shareholder recoveries. Source:https://www.wsj.com/articles/bed-bath-beyond-files-for-bankruptcy-cc7e8b40 https://www.wsj.com/articles/bed-bath-beyond-files-for-bankr... https://archive.ph/tSjT1 https://archive.ph/tSjT1
deleted 3y ago
[deleted]
dragontamer 3y ago
BBBY defaulted on its debt in December. Defaulting doesn't mean bankruptcy however. The bondholders could legally start the bankruptcy process, but presumably the bondholders wanted to see how the stock-selling deal would pan out. Now that the shares are under 20-cents and an additional 600+ million shares have been dumped to the market (from ~117 million in December 2022 to over 700-million today), its clear that the shareholders have been tapped out.
jedberg 3y ago
Yesterday was the last day to use the coupons. They officially enter bankruptcy today.
- tpmx 3y ago
  Sona (Conan) is going to miss them. Sorry in advance for the niche reference.
  - jedberg 3y ago
    I feel like the Venn diagram of HN users and Conan podcast listeners is nearly overlapping circles. :)
    - tpmx 3y ago
      Yeah, amongst us old people over the age of, say, 35 :)

This is surprisingly old news, but still somewhat interesting. I'm curious what led to this being posted today?

ketzu 3y ago

AFAIK it is the newest meme stock, it popped up on the reddit front page the previous few days.

michaelmcdonald 3y ago
BBBY has been a meme stock for quite some time over the last couple of years.
kube-system 3y ago
It has been a meme stock at least since the whole gamestop thing in 2020/2021
- ketzu 3y ago
  Back then the three big ones seemed to be Blackberry, AMC and Gamestop. If r/BBBY stats is anything to go by, I would say it wasn't that popular before mid 2022 [1] and is gaining traction since january. But it might have been bigger than I noticed. [1] https://subredditstats.com/r/BBBY https://subredditstats.com/r/BBBY
jutrewag 3y ago
[dead]

humanlion87 3y ago

They officially only filed for bankruptcy this weekend. Everybody (except the retail investors who were buying their stock offerings) knew this was coming.

bookofjoe 3y ago
>Individual investors who continued to back Bed Bath & Beyond during its final months, when it was flooding the market with shares, will likely be wiped out in chapter 11, which prioritizes the repayment of debt over shareholder recoveries. Source:https://www.wsj.com/articles/bed-bath-beyond-files-for-bankruptcy-cc7e8b40 https://www.wsj.com/articles/bed-bath-beyond-files-for-bankr... https://archive.ph/tSjT1 https://archive.ph/tSjT1

deleted 3y ago

[deleted]

dragontamer 3y ago

BBBY defaulted on its debt in December. Defaulting doesn't mean bankruptcy however. The bondholders could legally start the bankruptcy process, but presumably the bondholders wanted to see how the stock-selling deal would pan out. Now that the shares are under 20-cents and an additional 600+ million shares have been dumped to the market (from ~117 million in December 2022 to over 700-million today), its clear that the shareholders have been tapped out.

jedberg 3y ago

Yesterday was the last day to use the coupons. They officially enter bankruptcy today.

tpmx 3y ago
Sona (Conan) is going to miss them. Sorry in advance for the niche reference.
- jedberg 3y ago
  I feel like the Venn diagram of HN users and Conan podcast listeners is nearly overlapping circles. :)
  - tpmx 3y ago
    Yeah, amongst us old people over the age of, say, 35 :)