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He'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 new
by exsf0859 3y ago
He'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 3y 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 3y 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 3y agoEverything is securities fraud, as Levine likes to say.
- Sniffnoy 3y agoCould you link it, instead of just quoting it?