Bed Bath & Beyond just filed for bankruptcy with its shares down 99%. Here are the winners and losers from the meme stock's epic rise and fall.
Michael Burry, the investor of"The Big Short," likely made a solid return on BBBY stock based on theBurry's firm, Scion Asset Management, owned BBBY shares at the end of the third quarter of 2019 and the second quarter of 2020, before the meme-stock mania took hold in January 2021.Short sellers have racked up $142 million in mark-to-market profits over the past 12 months, the news outlet reported.
If BBBY stock is delisted as expected, shareholders are unlikely to receive the full value of their shares. In corporate bankruptcies, stockholders tend to be repaid only after creditors and bondholders are made whole.from a bankruptcy court to continue paying its employees and suppliers, and to access a $240 million credit facility that will help to cover its operating costs.
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