Why is Bed Bath & Beyond stocked after hours?

Shares of Bed Bath & Beyond Inc BBBY fell sharply at the close and continue to trade lower in Wednesday's after-hours session after GameStop Corp Chairman GME Ryan Cohen has filed Form 144 with the SEC showing intent to sell its stake in the struggling retailer.

According to the new SEC filing, JPMorgan has filed an intention to sell 9,450,100 million shares, representing Cohen's total stake, on behalf of Cohen's company RC Ventures . Some of these stocks are represented by long-term call options.

The filing represents the potential sale of up to 7.78 million common shares, as well as 1,257 call options at $60, 444 calls at $75 and 5,000 $80 calls. All call options must expire on January 20, 2023.

The filing notice date is August 16th. It is unclear if any shares have been sold in the name of RC Ventures to date.

Cohen acquired a stake in Bed Bath & Beyond in March, which sparked increased interest from retailers. On Tuesday, traders circled a recent file from Cohen showing he was still holding out-of-the-money call options. The stock appears to be selling, with Cohen's stake now in question.

See also: Jim Cramer denounces the bed bath and beyond: how he says the retailer might "run away", but "rather sink the ship"< /em>

BBBY Price Action: Bed Bath & Beyond shares have risen from under $5 to nearly $30 since the start of the month.

The stock was down 16.4% in PM to $19.29 at press time, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.

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