BREAKING Bob Cole, veteran CBC broadcaster and former voice of 'Hockey Night in Canada,' dead at 90
Bob Cole, legendary CBC broadcaster and former voice of Hockey Night in Canada, has died. He was 90.
The newest meme stock on Wall Street, Bed Bath & Beyond, tumbled even further in after-hours trading Thursday after a high-profile activist investor confirmed that he's bailed out of the stock.
Ryan Cohen, the co-founder of Chewy who helped ignite a couple of meme stocks to jaw-dropping heights, confirmed in a filing with U.S. regulators that he no longer owns any shares or options related to Bed Bath & Beyond's stock.
The move disappointed hordes of smaller-pocketed and novice investors, who had piled into the stock amid hopes Cohen could turn around the company's struggling finances, or at least send its stock on a moonshot like GameStop's early last year.
Bed Bath & Beyond's stock dropped 42% in after-hours trading, after it had already sank nearly 20% during the regular session to close at $18.55. The steep drop follows a monstrous run from $5.77 at the start of the month to $23.08 on Tuesday, which Wall Street analysts saw as irrational.
Cohen sold all of the nearly 7.8 million shares he held in Bed Bath & Beyond on Tuesday and Wednesday, at prices between $18.68 and $29.22. He also sold options tied to the stock. In March, he first revealed that he had built a nearly 10% stake in Bed Bath & Beyond, with shares purchased at prices between $13.08 and $17.10.
Investors on Reddit's WallStreetBets forum, a hub of discussion for the stock, were trying to gauge their next steps in what one commenter called "BLOOD BATH AND BEYOND."
"How many times are `meme traders' going to keep mindlessly gambling on false prophets instead of actually learning how to invest and trade?" one commenter wrote.
Cohen was a big reason many investors piled into Bed Bath & Beyond, particularly after his earlier investment in GameStop helped that stock soar to heights that stunned all of Wall Street. As Bed Bath & Beyond's stock kept going higher in recent days, many voices on Reddit and other social media sites urged other investors to keep buying. Along the way, some reveled in facing down the professional investors who had bet Bed Bath & Beyond's stock would fall.
Despite all the furor, Bed Bath & Beyond continues to lose money as it struggles to navigate the post-pandemic retail landscape.
Bed Bath & Beyond fired CEO Mark Tritton in June after the company based in Union, New Jersey, reported a 25% drop-off in sales in its most recent quarter, which followed a 22% sales decline the previous quarter. Tritton, who as CEO of Target revitalized that retailer by introducing a bevy of new brands, laid out a similar plan for Bed Bath & Beyond in 2021, but with less success.
Bob Cole, legendary CBC broadcaster and former voice of Hockey Night in Canada, has died. He was 90.
New York's highest court on Thursday overturned Harvey Weinstein's 2020 rape conviction, reversing a landmark ruling of the #MeToo era in determining the trial judge improperly allowed women to testify about allegations against the ex-movie mogul that weren't part of the case.
Honda is set to build an electric vehicle battery plant next to its Alliston, Ont., assembly plant, which it is retooling to produce fully electric vehicles, all part of a $15-billion project that is expected to include up to $5 billion in public money.
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment that is banned at Queen’s Park.
Researchers are working to better understand if some Canadian military veterans may be suffering from Chronic Traumatic Encephalopathy, also known as CTE -- a disorder previously found in the brains of professional football and hockey players after their death.
Residents of John D'Or Prairie, a community on the Little Red River Cree Nation in northern Alberta, were told to take shelter Thursday morning during a police operation.
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.
A West Virginia father is getting some sense of closure after authorities found the remains of his young daughter and her mother following a deathbed confession from the man believed to have fatally shot them nearly two decades ago.
The first cargo ship passed through a newly opened deep-water channel in Baltimore on Thursday after being stuck in the harbor since the Francis Scott Key Bridge collapsed four weeks ago, halting most maritime traffic through the city's port.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.