 | Well, that was nasty.
In case you missed it, Bed Bath & Beyond Inc. (Nasdaq: BBBY) had a rough time last week. The stock lost almost 20% of its value on Thursday … and then proceeded to drop another 44% in after-hours trading.
By Friday’s close, BBBY was 60% lower than its Tuesday peak.
Neither a bad earnings release nor negative guidance tanked the stock. The retailer’s woes have been common knowledge for years.
No, it was news that activist investor and GameStop Chair Ryan Cohen had liquidated his large position in the company after purchasing more than 7 million shares earlier this year.
BBBY is the latest meme stock to face a reckoning, but it won’t be the last.
Click here for my take on meme stocks and two tips if you do want to trade them. Suggested Stories: Massive Texas Migration a Boon for High-Value Rental REIT
Poll: How Much Do You Invest in Real Estate?
| Hedge funds, venture capitalists, billionaires and Wall Street love this one crypto. It’s not bitcoin — it’s a coin that experts say will be 20X bigger. | |
Chart of the Day China’s economy is slowing.
Its gross domestic product (GDP) grew 2.5% in the first half of 2022.
That’s well below the government’s target of 5.5%.
It appears that economic growth might be even lower, according to recent data.
See what question the chart below raises, and why it's a good sign for U.S. stocks.  Suggested Stories: The Fed’s Economic Indicator Spots Room for Growth
How Midterms Will Change the Cannabis Market + 3 Stocks to Watch
| Has President Biden’s new executive order…
Alongside MIT, 77 global governments, the Gates Foundation, UNICEF and the Clinton Development Initiative…
Ignited a historic $40 trillion transfer of wealth from the middle class to the rich?
One of the nation’s leading economists (Nomi Prins) has traveled to Delray Beach, Florida, to uncover exactly what’s happening and what this means for your money. | |
| 
1902: After Henry Ford and investors couldn’t find common ground on where to take the Henry Ford Company’s next model, the latter formed the Cadillac Motor Company. This explains why the first model of the Cadillac looked so similar to Ford's Model A. Cadillac was already considered a luxury brand when auto giant General Motors (NYSE: GM) purchased the company seven years later. | |
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