4 ms·
What's Matt Levine's take?
by cush 4y ago
What's Matt Levine's take?
- bonzini 4y agoProbably https://www.bloomberg.com/opinion/articles/2023-03-30/bed-bath-beyond-has-more-stock-to-sell https://www.bloomberg.com/opinion/articles/2023-03-30/bed-ba...
- toomuchtodo 4y agohttps://archive.is/svqGg https://archive.is/svqGg
- exsf0859 4y agoHe's covered the decline of BBBY many times in his newsletter, explaining the financial details and shaking his head each time. His Monday April 24th, 2023 newsletter, titled "Bed Bath Moves Beyond", covers the situation once again. It ends: "Bed Bath saw that its retail shareholders wanted to throw their money away, and that its sophisticated lenders wanted to get their money back, and realized that there was a trade to be done that would make everyone, temporarily, happy. So it did the trade. It’s amazing. The lawsuits are gonna be great."
- mrguyorama 4y ago>The lawsuits are gonna be great. Why can you be sued because idiots convinced themselves you were a good buy while you were showing everyone your terrible finances?
- vkou 4y agoBecause you aren't allowed to sell stock in advance of your bankruptcy filing. BBBY did this in a roundabout way, by signing a deal with HBC, where HBC sells BBBY stock in exchange for cash...
- justincormack 4y agoEverything is securities fraud, as Levine likes to say.
- Sniffnoy 4y agoCould you link it, instead of just quoting it?