SEC Investigates GameStop Chairman Ryan Cohen's Bed Bath & Beyond Stock Sales
The Securities and Exchange Commission is reportedly investigating GameStop Chairman Ryan Cohen over his sale of a significant stake in Bed Bath & Beyond shares. The SEC is seeking information from Cohen regarding the trades and his communications with directors and officers at Bed Bath & Beyond. Cohen, who triggered the meme stock craze after taking control of GameStop, disclosed a large stake in Bed Bath & Beyond in March 2022 and sold it abruptly in August, making a $60 million profit. Bed Bath & Beyond stock soared on Cohen's bullish tweets but plummeted after his sale, erasing the gains.