Investors flooded social media platforms such as Reddit on Friday with criticism of Ryan Cohen’s sale of his stake in Bed Bath & Beyond Inc., blaming him for helping fuel a meme stock rally only to then walk away with a $60 million profit.
The billionaire investor disclosed on Thursday he had sold his 9.8 percent stake in the struggling home goods retailer almost five months after amassing it and pushing for changes. In response to Cohen’s investment, the company ousted its chief executive, changed some board directors and agreed to explore shedding its baby products unit.
