11/8/2023 0 Comments Reddit stocks“We continue to believe consensus (and quite frankly, maybe even our own) estimates are far too optimistic and reiterate our Sell rating and $1.00 price target,” they wrote. One bright spot? The AC was running in every store visited. Finally, we found the stores to be in poor condition and the store associates to be highly disengaged.” “The stores also have a heavier focus on low-priced items, which we believe cheapens the overall shopping experience. “Bed Bath & Beyond is also heavily discounting much of its recently introduced private label merchandise (which evidences their lack of consumer traction), and we saw plenty of clearance items,” analysts led by Anthony Chukumba wrote in a note to clients. Last week, Loop Capital analysts wrote that a visit to several stores in the northern Chicago suburbs found out-of-stock to be a major issue, with nearly empty shelves and displays throughout the stores. Bank of America analysts recently wrote that the company was turning down the air conditioning at its stores to preserve cash, as it struggles with a liquidity crisis amid falling revenue. This theory of mine started with Steve Jobs / AAPLīack when I was 18 and the first iPhone came out, continued with Elon Musk in Teslaīefore they even had the first consumer vehicle on the road, and now Ryan Cohen, as he is tactically fighting to dismantle the forces of Wall Street that blatantly f*** the little guy,” he wrote.īed Bath & Beyond is “possibly the deepest value stock on the market,” he added. “As an investor, I do not invest in companies with the conviction in which I invest in people. The individual is essentially betting on Cohen. The post explained that the individual has been monitoring the stock of the troubled retailer closely since Ryan Cohen, an activist shareholder, founder of pet products retailer Chewy Inc.Īnd head of RC Ventures LLC, took a position.Ĭohen has since forced a number of changes at the company, including pushing out its “overcompensated CEO” and gaining three board seats, said the post.Ĭohen has pushed hard for the sale of the company’s Buy Buy Baby chain, which appears to be happening and “a proposal of a hefty investor dividend from the proceeds has been initiated,” said the post.
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