Bed Bath & Beyond, once a retail giant, found itself struggling to compete in a changing retail landscape. While competitors like Target and Walmart adapted to the e-commerce boom, Bed Bath & Beyond lagged. Over-expansion, debt, and the pandemic only worsened its troubles.

By the early 2020s, its stock price had plummeted, and the company was on the brink of collapse. Enter Ryan Cohen, a well-known investor who had previously played a role in the GameStop stock saga. Cohen’s involvement sparked renewed interest in Bed Bath & Beyond, giving the company temporary hope and attracting risky stock market bets.

Online communities, particularly on Reddit, became obsessed with Bed Bath & Beyond. Inspired by the success stories of GameStop and AMC, these groups believed they could save the retailer while making a fortune. The subreddit "BBBY" (based on Bed Bath & Beyond’s stock ticker) became a hub for speculation, conspiracy theories, and misplaced hope.

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BBBY | Is It a Stock or Cult? 01:06:06 Share

Things I Learned Last Night

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BBBY | Is It a Stock or Cult?