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Fortune
Fortune
Chris Morris

Ryan Cohen, children’s books, and a big leap of faith send Bed Bath & Beyond shares soaring, despite the pending shutdown

Ryan Cohen Reddit
(Credit: Jakub Porzycki—NurPhoto/Getty Images)

Even though Bed Bath & Beyond has sold its IP to Overstock and is in the midst of liquidating its stores, a group of meme stock investors is still betting on the company, driving share prices up by more than 360% since May 2.

The reason is a complicated one that involves retail traders on Reddit, meme stock king Ryan Cohen, children’s books and an Evel Knievel–like leap of faith.

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