Bed Bath Beyond stock surges 45% as Reddit users embrace stock

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Bed Bath Beyond stock surges 45% as Reddit users embrace stock

Bed Bath Beyond Inc. shares BBBY, soared 45% Monday, with no apparent news driving the move, as the WallStreetBets crowd on Reddit embraced the'meme' stock. One individual on the Reddit forum, who goes by the name of TheDude 0007, said his inbox has been blowing up with inquiries about his decision-making process after he said he had 10 x'd a $45 K YOLO in Bed Bath Beyond stock and has been monitoring it closely since Ryan Cohen, founder of Chewy. Cohen has made a number of changes at the troubled retailer, including pushing out of its overcompensated CEO and gaining three board seats, according to the post. Cohen has pushed the sale of Buy Buy Baby, which appears to be happening, and a proposal for a hefty investor dividend has been initiated, according to the post. The S&P 500 SPX has fallen 13%, while the shares of Bed Bath Beyond are down 22% in the year to date.