New leadership: the key to saving investors' money
Investors are counting on new leadership to turn business around, prevent further stock drops, and help save investors’ money.
On Thursday, Bed Bath & Beyond's stock price soared after the company announced that several insiders had purchased its shares. The new CEO, Sue Gove, is among the executives who are optimistic about a turnaround despite plummeting sales.
Bed Bath and Beyond's stock has fallen over 62% so far this year, despite the company's attempts to improve its business. The retailer, which was once a division of Target, has been struggling since Tritton took over as CEO three years ago. He launched new private-label brands and closed underperforming stores in an attempt to turn around the business. Despite these efforts, analysts are still pessimistic about Bed Bath and Beyond’s future sales figures.
In 2017, the estimated value of the cryptocurrency market was $2.7 billion.
That's how much Bed Bath & Beyond's market value has fallen in the last year, from $3.1 billion to just over $400 million today.
The following are some of the key things to look for:
Activist investor Ryan Cohen, cofounder of pet food company Chewy and chairman of video game retailer GameStop, continues to pressure the company. In March earlier this year, he acquired a nearly 10% stake in Bed Bath & Beyond and reached an agreement to expand the company's board as well as explore a sale of its baby-focused business, Buybuy Baby.
Bed Bath & Beyond Replaces CEO, Fails to Meet Earnings Expectations (Forbes)
Forbes: Bed Bath & Beyond Stock Collapses After Earnings 'Disaster'—Expert Warns 'Reality Is About To Hit Hard'
Forbes reported that the share price of Bed Bath & Beyond rose after a new agreement was signed with billionaire investor Cohen (GameStop).