Why This Ryan Cohen-Linked Stock Is Seeing High Interest From Retail Investors Today

Bed Bath & Beyond Inc. BBBY has emerged among the most-discussed stocks on Reddit’s r/WallSteetBets forum as of early Tuesday.

What Happened: BBBY is seeing the second-highest interest on the forum with 572 mentions at press time, data from Quiver Quantitative showed.

Exchange-traded fund SPDR S&P 500 ETF Trust SPY and video game retailer GameStop Corp. GME are in the first and third positions, respectively, having attracted 660 and 251 mentions.

BBBY is also trending in the fourth spot on Stocktwits.

See Also: How To Buy Bed Bath & Beyond (BBBY) Stock

Why It Matters: Bed Bath & Beyond shares surged more than 34% in Monday’s regular trading session after GameStop chairman and Chewy Inc. CHWY co-founder Ryan Cohen said he has acquired a 9.8% stake in the company.

Cohen said in a letter to Bed Bath’s board he believes the retailer should explore strategic alternatives that include separating Buybuy Baby chain and a full sale of the company.

Price Action: Bed Bath shares closed 34.2% higher in Monday’s regular trading session at $21.71, but fell almost 2.2% in the after-hours session to $21.24.

Read Next: Chewy, GameStop, Bed Bath & Beyond: How Have Ryan Cohen's E-Commerce Bets Performed?