Shares of bankrupt Bed Bath & Beyond Inc. rose 3% Wednesday, with the meme stock maintaining its appeal to some investors, despite the retailer’s well-publicized woes.
Bed Bath & Beyond BBBYQ filed for chapter 11 in April and was subsequently delisted from the Nasdaq Composite. Trading over the counter since May 4, and with liquidation sales under way at hundreds of stores, the stock nonetheless continues to attract attention. The address listed for Teddy Holdings is the same as the address listed in a trademark application for Teddy Publishing encompassing “downloadable fiction books on a variety of topics.” Teddy Publishing is the publisher of a series of children’s books written by activist investor Ryan Cohen.Cohen, the co-founder and former CEO of Chewy Inc. CHWY , is executive chairman of GameStop Corp. GME and looms large in the meme stocks world.
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