I ALWAYS get Bed Bath and Beyond confused with Bath and Body Works. The stores are different, but the names are so similar, that my brain has to take a moment to process it.
I enjoyed going to Bed, Bath, and Beyond. They didn’t have any stores near me in Alabama until the early 2000’s. About five years ago, I noticed a decline in store displays which became messier and haphazard. I think the neat and “mid-tech” sort of vibe is what made shoppers browse. They tried to be more like Wal-Mart, losing their identity in the process. That’s exactly the same strategy that destroyed K-Mart and Sears.
I think they were overpriced to begin with. But they had decent items and a forever warranty. Then. They put dates on the coupons. Then, they got rid of most coupons. Abd then, they started stocking greatly overpriced crap (a 140.00 pink PLASTIC SMEG toaster, that never worked ONCE!) and they get rid of the forever warranty. If I had stock there. I would have got rid of it a long time ago. The displays are just to attract thieves, and I don't go to stores that do that. Lowlifes steal everything in the sale boxes, like total garbage. This is just obvious. Duh.
Great content in your channel, I’m 53 and my wife and I reached $1M net worth in 2017, five years later it’s $2.4M. Our yearly salary is a little over $100K. We drive older cars, cook at home, eat leftovers, and have 2 in college. We saved for college and our boys help by working. They will graduate debt free.
Right there with you. I'm retiring early, no debt. Kids are taken care of. Building my dream home on 11 acres, looking over the river valley. there are loads of ways to make a killing right now, but such high-volume near impeccable tradess can only be carried out by real-time experts.
How can one find a Fiduciary Financial Advisor, that can help me make good gains during this bear market and also position my portfolio for better gains when the bull finally arrive? I would not mind looking up the pundit that helped you, I will be retiring early. Don't want to take any chances of accruing loses...
I bought into BBBY a few weeks before the run up at a cost basis around $4.50. When I saw it start to go up, I bought some Aug 19 17.00 strike calls for $25.00 a piece and immediately set a limit sell order on half of them at double my cost basis. The next morning, the market opened and half my calls sold for $88 per call. I sold everything else over the coming days, though perhaps a bit too early, but hey, I guess I was lucky to take my gains and run when I did.
It's pathetic that people argue about not wanting to be corporate slaves, yet they kowtow for mercy in other's speech just to win a gamble. Between the two, I'd rather be confined to a boring job but not confined in speech.
The only people that fall victim to "pump and dump" scheemes are people who don't know anything about investing and are just following investing trends. I agree, that people with substantial share ownership shouldn't be making public statements about the health of the company or speculating about the stock price.
@@samsonsoturian6013 . That's not a pump and dump scheme. Enron was a firm with a real product and revenues. What happened at Enron was accounting fraud. Nobody is safe from risk but not all risks are "pump and dump" schemes.
That Jake Freeman was actually very smart. The many of us could only have hope that they have a wealthy uncle who is a hedge fund manager to loan us 20 million of cash.
sounds like a "rat hole" to buy and sell the stock not related to someone who has insider info. something about it just doesnt sound legit, would be interested to see where that money is right now.
@@TheSteinbitt i have my long term investment and roth IRA, my crypto, i just used the bit of money in my options account to make a bag. A 300 risk and made 1500. It was a risk well worth it. There's many ways to invest. I saw an opportunity to make money and i did. Next time don't be a pussy. Have money in your options account ready to go.
@@kagakai7729 nah i have an options account that's self contained. No yoloing all my money because NOTHING is a sure thing. I made a small risk of $300 and it popped. A great feeling.
This has nothing to do with investing but, I recently witnessed a robbery at a Bed Bath & Beyond when traveling A man with shorts falling off down, revealing his own ass, hauling like 9 comforters to his car while his wife steps on the gas He right beforehand had scoped out where to park, I had offered him marijuana as he passed me by
Ryan Cohan had bought those calls in April, and never told the public “hey let’s all buy BBBY” if people bought because he did, that’s on them, people are individual investors.
It was a gamble from the beginning for me. Was up big but ended up selling when we came back down to $13 bucks for a fraction of the profit i was in. Learned a valuable lesson about taking gains when they're available.
Good! You always need to take profit when a stock goes on a run up. If it's not based on fundamentals. Then take profits. Because you need to ask yourself at what point is x% not enough ? If you were up 100%, 200% or even 300%. And you still didn't take profits. Then no amount wouldve been enough.
I learned this lesson when I bought amc at 15$ and it ran to 70$.. I held all the way back down because I believed in the apes and youtubers pumping the stock. I got greedy, no one to blame but myself.. I bought bbby at 9$ and sold at 26$. Never looking back
@@filipstehlik007 That's because he was. you come in with that kind of money, people know it's being backed from "interested parties". It's suspected he was tied to hedge funds (not necessarily shorting ones). Then he buys 5% of the company, makes a proposal to BBBY on debt restructuring which would, mostly, benefit his backers (who were identified to own BBBY bonds). Everything about his actions made it seem he was in there to make money for him, and make bank for those backing him. That's exactly what he did but everyone else is now holding the bag and RC took the fall because of his actions of selling a day or 2 later. You want a finger to point the point and dump, look no further than Jake Freeman. Buys 5% of BBBY at like $6 average and in a span of a month or so, it runs up to $30, he sells for a massive profit. There's a saying: if it smells like shit and looks like shit, you don't have to taste it to believe it's shit.
@@filipstehlik007 that makes no sense though because there were tons of people on the sub YOLOing their savings into BBBY at $3 and $5. BBBY was a long time coming and has been in the happening since July. Looks like he really just paid attention to what a bunch of internet apes were doing considering WSB created Millionaires with GME
@@T-Bone99 We are not in disagreement. I was there too, i bough when it fell on 5 dollars. Still, he came, did reddit ama after buying at 5 dollars, deleted comments after, ppl called bs. They still were buying, but called sus on him. (One comment i remember was saying he will not stay for long and he was right).
He filed for selling on 16, executed it on 17, and announced it on 18. If you know nothing, ask. He is VERY MUCH the cause of the fall and the one that stopping the movement from gaining any more momentum.
Good summation. My only disagreement is with the part where you say investors chose bbby in Jan 21 because it was highly shorted. My understanding is it's part of a basket of stocks all shorted with the same instrument (and all retail companies. Movie theatre, used game store, towels) and when GME went parabolic the covering that occurred on that single security pushed up the whole basket. I can't talk for other investors but very little of the rest of the basket was mentioned on Reddit prior to the last week of Jan 21. Sure, since becoming bagholders people think it's a movement but to start with it was a value play. When I went long gme was $9.18 pre split with $12 book value. When I went long bbby it was $4.98 with huge call option interest at $5 and Ryan Cohen had skin in the game. It's fine playing meme stocks but I suggest getting in when the chatter is low and if Ryan Cohen is involved make sure your cost basis is less than his 😉
Ah, BBBY, yes, thank you. I threw in a little bit of money and ended up tripling it. Thank you. I am too wimpy to go "big", but I am happy with the small win. Never throw a large sum into something this volatile.
I cannot tell you how much myself, ( and obviously, thousands of others) enjoy your calm, rational, and above all informative) analysis of economic issues
I purchased a couple put options when it was rising. Then it tanked! When high PE stocks get bad news, they tumble like a house of cards. Works everytime!
A Reddit comment I saw suggested this might be a cult. I’ll yield to the experts, but it absolutely wouldn’t shock me if it meets the definition of one.
People in finance need to get a "real" job. The majority of them are either worthless arbitrage money movers, traders, speculators, or gamblers. They do nothing for the real economy.
Can you do an update with the new court filing that says he offered $400 million to buy BBBY and they turned him down to sell off parts of the company for much much less. Think it would be an interesting update since most of this information changes with that new information.
Something to bear in mind is that Cohen is also an activist investor. He bought a stake in BBBY, wanting to place a few people on the board and likely had plans to change the company around. From what I gathered it seems that the existing board of BBBY and Cohen however did not manage to come to an agreement on how to go forward, which prompted cohen to sell his stake as his attempts at change essentially fell on deaf ears and it does not make a whole lot of sense for an activist investor to stick around when nothing in the company is willing to budge. Would've loved to see a mention of that rather than just vilifying the whole situation as a pump and dump
If he has to report owning a percentage of the company then why would it be a P&D? I could understand if he was going around to investors or Twitter and hyping it up, but to say that a legally required document is the cause I think that might be too far. I'm not an economic anything, just not sure where the actual problem lies.
Greetings from Boston, MA, USA! Just subscribed. Your channel is a great mixture of sensible information sprinkled with a touch of humor! Very enjoyable and educational. 😻 Looking forward to more.
Bro that representive bias is hitting me so hard I actually know the kid that made 110 million. his name’s Jake freeman and I used to do robotics with him. To see some one you know make so much money over night rly makes u feel like shit
Well yeah. Assuming you work an incredibly high paying job (160,000 a year) you will never make close to that amount of money your entire life. The world is just incredibly unfair. We need to learn how to be happy with what we have, or eat the rich
@@willswain7144 If you make 160,000 per year and invest 80,000 of it per year in the S&P500 with dividends reinvested, after about 45 years you'll make close to 110 million assuming historical average returns. But that does require sacrifice of course.
As someone reasonably active in the memestock (GameStop specific) parts of reddit, most people don't think he P&D BBBY, the timing doesn't match up re the knowledge of his initial large purchase and it has been known for months he bought in. It is fascinating though.
@@aylahughes9185 Ah yes, bigger wallet means you're definitely more right. People totally have never failed upwards, and Elon musk can never be wrong about Tesla because he has the biggest position on Tesla stock.
I've just gotta wonder where personal accountability starts if they're accusing him of being duplicitous and pump and dumping because he... filed legal documents that it sounds like he has to file.
It was more the fact that if he sold his shares as an insider within 6 months, all profits would go to BBBY. Im still not sure how exactly it all works tho.
I think more than anything the meme stock phenomenon is a protest against the vitriol exhibited towards the retail investor. With that said, I do and like having a small portion of my portfolio reserved for speculation, having made some good money off of picks like AMC and BBBY. It’s small enough where it doesn’t hurt my long term investment goals and strategy, and large enough to “have fun” with. As long as you don’t put more down than you’re willing to lose and fully acknowledge it’s a casino, have fun with it. Just be safe, set your stop limits, and take profit as you go. (Not financial advice, just how I conduct myself)
Did you notice that the amount of shares on both of the 13F were same? His percentage of stake went up, because the company had bought more shares in, whilst Cohen was selling. Redditors mistook the 11.8% ownership on the second filing as some kind of increase in his stake, which it certainly was not. Rotten.
Yeah he made some bucks in a very public way. He could have hired some traders to make the market in BBBY stock, run the price up and down intraday, and scored a hundred thousand a day or more. Different technique, but makes money.
Serious question from an outsider. What is the point of "holding on forever" ? Isn't the basic point to buy low and sell high? Buy stock at a low price and then sell when you made a profit you are content with? Or is the the nature of meme stock to just buy garbage stock, see it rise, then lose your shirt on it and keep it for the lulz?
CFO did the right thing. He knew he was going to prison. The courts will grind you down and give you so much stress you'll wish you were in prison. Especially if you have live a wealthy white collar life. Pure hell!
2:48 ".. and he actually owned 1/10 of the entire business .." i didn't even know about this story trill this video but i can already tell what's going to happen next. this is exactly it was the antithesis of GameStop scenario. there, people were buying new stock to undermine those who already owned it on margins. if this cohen guy already had stock then the only rally he needs to get rich is to sell it off when it peaks at his desired level
SI is still high Borrow fee is high Utilization over 100 Freefloat on loan high Good chance of m&a hence why RC sold the way he did & the silence. Ceo purchased additional shares not too long ago.
If he does get charged it’ll be a small fine relative to the profits he made, in other words -- it was a net win and a great strategy. This is how our system actually encourages corruption.
@@tz8785 Watching the video, it sounds like he sold at (or slightly after) a tweet saying he's in it for the long term. If that's the case, it's very suspicious for him using pump and dump tactics. He's not obligated to tweet about it at all, and are we supposed to believe he changed his mind in a day?
U dont bet 20M on a memestock and get to time the selling just before the dump, unless Ryan already informed you when exactly he would dump. People who believe this was all coincidal are too naive.
I disagree with what you said: my stocks really do love me. This morning I was wearing my Caterpillar t-shirt and I could really feel the love; obviously because my shirt knows I own a decent position in this company.
I wouldn't really expect meme stock investors to understand earnings growth and PE ratios, much less average FCF, etc. A lot of them think "high short interest = good investment".
Because they worship him as a god- a billionaire looking out for retail (he tweets poop emojis and these folks think it is a secret message). To them this is a betrayal.
You could make two arguments. 1) He probably knew (or should have known) that many of the WSB types of people are going to follow him if he doesn't explicitly warn against it or something. 2) The timing of the sale relative to when he has to report his stake makes it look like he wanted to mislead (in a broad/moral sense) investors as long as legally possible. I think one can at least make the argument that even if this isn't illegal it's a dick move.
@@seneca983 There's a 3) option. At the end of August BBBY is supposed to be making an announcement and it's suspected to have some sort of dealings with RC Ventures. This was promised by the board to share holders in the July annual meeting. RC's intent to sell his stake was probably always in the plan, especially if was to remove him from a conflict of interest situation (say if RC ventures or any of his other companies were interested in buying parts of BBBY [like Buy Buy Baby]). When Jake Freeman sold, it pushed RC's ownership up over 11% (along with the updated float #s after the buy backs). This made him an insider so RC was forced to file the 13D, is was not necessarily intentional on his part. Anyways time will tell if this was truly a dine and dash moment or if 4D chess was being played.
What goes on with the meme stocks seems pretty clear... What is a bit tougher to disentangle might be what goes on with things like MEGL and HKD. Can you see if you can explain the mechanisms behind that price movement for people?
While RC was for sure a big reason for some retail investors to get into $BBBY I do not think it was the reason for most of them. I got into BBBY at around 9.50 and followed what was happening quite closely, ofc also on forums like WSB. What most ppl over there got going was the mix of hi %SI and especially the monthly options chain which was loaded up on the call side. This is quite vital to any plays when it comes to these small/mid cap "meme" stocks since most of the price movement is just hedging by market makers. Especially with GME you can just track the GN and you'll notice that the price usually just ends up being at that point. When it comes to the Jan 21 sneeze then yes, the price movement there was mostly people FOMOing into the stock since it was going parabolic, the actual short squeeze only didn't happen due to APEX clearing disabling the buy side of GME, otherwise god knows what price it would've reached. And while I'm sure that there are more than enough hedgefunds that did profit from GME, most of the ones that were the reason why people got into it got burned a lot (E.g. Melvin Capital). Overall I'm quite sure this won't be the last time we see a squeeze similar to those happening, there are a bunch of companies still being overshorted and a lot of people that are down to throw money at those just because of pure anger. And while that's not a reason for me to invest I understand why. Seeing over and over what big players get away with is infuriating and the way the SEC mostly just looks the other way makes it even worse. TL;DR: From what I've seen most people on forums like WSB mostly invested into BBBY due to perfect setup to squeeze. Lots of market manipulation going on when it comes to these small/mid cap companies stocks and the SEC likes to just ignore it. There will probably be more of these kind of setups on either the same stocks or different ones. Other than that have a good day.
@@jonathansykes4986 I mean a drop had to be expected considering the tragic news :\ And if you're down to play volatility then I still think BBBY is worth having an eye on, just gotta be really careful with your timing of the entrance/exit
Can you explain why anyone would not be shorting that stock?… sure even if there was a squeeze or whatever… that will pass.. on the long enough time line, this company will never recover… so isn’t more probable that you will make money shorting?…. I’ve been shorting on ever $5 increase in share price… even if this goes to 100, or a 1000 or whatever, no matter what the number, it is more likely that it will go back to 0 than trying to time the stop. Am I missing something here?
The meme stock crowd is like sheep showing up in front of a butcher's shop with a knife...it may look cool but that story always ends with the butcher winning.
So the reason for this huge rally is most likely wsb subreddit doesn't allow stocks under a certain market cap to be discussed. Once bbby passed that threshold the subreddit was flooded with comments and posts
I thought it was revealed that institutional selling on the day that $BBBY tanked after its surge was the reason for it dumping. Also, I think it was also revealed that the "student" you mentioned in the video who made a fortune from $BBBY was actually Citadel as the address of the "student" was Citadel HQ. I appreciate the video though. I was wondering if you would do a video on the r/superstonk subreddit. They still believe in the Gamestop "MOASS" and believe that, despite the SEC's report, that the "shorts have not closed". I did some looking around on the subreddit and it actually looks like they might be on to something, but was wondering what you would think about it.
They are delusional on that subreddit and most of the mods have been caught trying to grift the user base and quite a number have been successful at it. Ryan Cohen who the people on Superstonk believe is looking out for them liquidated his entire holdings of BBBY - you can see this in RC ventures filings. Gamestop went from 3$ - nearly 500$ it ran it's over and done with - every spike it has has been smaller than the last. They are not on to anything because they have no idea how markets work.
@@corail53 Hmm.. I half agree with you, but also, have you done a thorough read through their subreddit? I can tell you haven't because many of the points you've made are a bit old and they have some pretty interesting evidence that seems to counter your points.
@@sci-figameguy8241 who needs to do extra DD when you can just read market watch and motley fool, which are sources founded by philanthropists whose sole purpose is to protect the retail investor, amirite?
Is everything ok here? That’s what my boss asked this am, he said I looked pale. I guess I did, but I felt red after looking at my bbby. Ouch . What a turd in my portfolio
I just found the volume on BBBY the last few weeks to be real interesting. Almost all the volume was near the tops to squeeze the shorts. It was very coordinated and used WSB as a cover and for a little liquidity boost. Freeman probably knew whoever was going to do the operation and my guess is they were working for Cohen who wanted to exit with a profit, because he's the kind of guy that HAS to win, like a Michael Jordan; I believe Freeman was tipped off and got in on the action a month in advance but it was not really insider trading or anything, he was simply aware the operation was going to happen once the overall market trend provided a more bullish environment.
Well the profits he made from this trade didn't go to him though (cohen), they went to bbby becuz hes an insider at the time of sales and hadn't held long enough to do so. So if u think this was some sort of pump and dump orchestrated by cohen I highly doubt. Not to mention the volume compared to how much cohen owned was ridiculous so again if u think this was because of cohen then 🤷♂️
@@johndouglass4471 You pretty much got that from a reddit DD, but I think there are some things not completely understood by you or that original poster. I don't know if the shares he bought before he had enough to be considered an insider would all go under the short-swing profit rule and there are certain exceptions, and pretty sure the type he bought and sold would be part of the exception anyway.
@@TheBruceKeller maybe maybe not, but I think you and I could both agree that RC disclosure of becoming an insider did not start the insane volume that bbby had going for it b4 anything was public knowledge nor did he selling (the actually sale of his shares, not talking ppl who dumped when they found out he sold) actually cause the price to dump itself.
Apart from drawing hate from the Reddit investor community, is there a reason not to short these monster rallies? I'm a index investor, and do not foray into individual stocks let alone options trading. Still, every time an unjustified rally like this happens, I'm really tempted to short it. The scary part for me is - lack of knowledge in this field.
The chart at 9:58 shows the proportion of volume that was short sellers closing their positions. If the majority of volume was from retail, how did the 140-227% short interest in GameStop drop significantly after Jan 21? I don't see when they would have closed. Remember Archagos? Before they blew up, their leverage on a chart perfectly matches the GME chart until they went under in mid march. As 16 of the largest app brokers turned off the buy button for GameStop and other securities, could it have been possible that insiders knew the buy pressure was killed and thought they could short the stock down from $500 to $50 to make back some losses which worked until the share price rose to $350 in mid march? Personally, I think the shorts didn't close and they are hiding the real short interest in swaps and derivatives which do not need to be reported on
How did RC do a pump and dump when he literally lost 66% of his initial portfolio value after buying? How was RC responsible for a dump when he sold at like $26 a day or 2 prior before the stock crashed back to $10 while the stock was trading at 1000% of its average trading volume? The share price makes the news - not the other was around. Especially in the crooked US stock market
Never been to that store in my life but I did option trade the stock and turned 460 to about 1900. Could have made way more but sold my puts WAY too early 🙃😭 oh well
Around the 5min mark you talked about ryan cohen selling all his shares on Aug 16 / 17, but looking at the same yahoo price chart, his 10% stake sell out didnt even impact the market price?? market closed around same prices until after it was announced he sold his shares? Sounds like something fishy is going around on the market...
Speculation isn't investing. It is gambling. Play with it if you like, it is your money, but never more than 10% of your portfolio. If you've mortgaged the house and backed up the truck, no one is to blame except yourself if you've now lost your home and life savings.
Helps to keep your speculation to a very small percentage of your invested assets. The herd mentality with the memes is just leading a lot of people to get burned over the long run vs the few that hit and sell before the crash.
because the wsb still chasing after the next gme. as you can see gme was actually a success if you bought and dollar cost averaged correctly people had plenty of chances to buy 40-50 dollars during and after DFV congressional hearings proving robbing the hood was corrupt along with citadel ken griffin lied to congress in their faces without facing jail time. so GME rallied again to 100-300 dollars and came back down settling at 150-200 dollars again. GME is actually doing fine now settling around 150 level still amazing isn't it. WSB wont buy another GME but wants another GME to fomo into. that itself is the problem. GME was shorted 100%+ of total shares outstanding not just free float which was 200+% short. most of the ones they found so far was 100% free float which isn't the same there is a big difference. one is systemic risk gme that had the Market makers committing financial terrorism to cover up and lying to congress while paying off the SEC to look the other way. while BBBY was just 100% free float short and shorts can still cover if people sell. Ryan wants only baby from BBBY nothing else if you read his letters to the board. Jake freeman obviously hired by HF to pump and dump bbby he also sent a letter to the board. and was pumping bbby on reddit confirmed. as he bought in at 5-6 dollars average. making more with 1-2 month trade than Ryan Cohen 6 month trade.
@The Plain Bagel, I’m genuinely curious as to what’s going on here. Why are there no shares to borrow, the borrow rate is more than double the share price (idk the rebate), the percentage off exchange is over half, short percentage is often >50% daily (even with the ability to mark shorts as longs because it’s self reported), and volume has been ridiculous over past few days? I know they had an ATM offering more than likely to cover debt but it seems to me like something funky is going on here. Sometimes the price jumps like crazy in pre market but it gets drowned out by crazy high volume in the first few hours. I have an idea but I wanted your take on it. My sources for info are stonk-o-tracker and chart exchange. Thank you if you see this and thanks even more if you reply.
