Replies to post #8481 on Bed Bath & Beyond Inc (fka BBBYQ)

[Jimmy Joe]

The only thing these guys are trying to cover is their buttons.
Stuck trapped with nowhere to go.

Nobody including institutions running for the exits.

[jimr1717]

That’s not what I said. I shorted sears at 43 bucks and never covered. I made 42.995 per share.
Check my sears posts and you may learn.
Too bad you missed FL foot locker

[Prudent Capitalist]

I believe what he was stating, which is purely factual, is that in this instance, as is the case with all Bankruptcies like this one, when the shares are cancelled anyone still in a short position does not owe anyone. Anyone short banks their entire 100% profit from the original short sale. So, why would anyone still in a short position here have any incentive to cover at this point. They can still bank the remaining .16 - .18. SMFH

[uber darthium]

I HOPE YOU CAN READ AND COMPREHEND THIS
1manband
Re: Renee post# 215553
Wednesday, September 20, 2023 4:43:23 PM
Post# of 215784
BBBYQ actually put out an 8-K today that summarizes the approved Bankruptcy Plan. This is a true rarity among bankrupt companies. Of course, the 8-K makes it perfectly clear that the common shares are being cancelled and are without value.

"The Company has no preferred shares issued or outstanding and has 782,005,210 shares of common stock issued and outstanding as of July 20, 2023. On the effective date of the Plan, all of these shares will be canceled, released, and extinguished and will be of no further force or effect pursuant to the Plan."

It should help to hear it directly from the Company rather than in the court documents that most people either never see, or don't understand correctly. But let's see what effect it has on the market tomorrow and how many brain-dead idiots will continue to claim the shares will still have value in the future due to (spins wheel) merger, short-squeeze, tax-loss carryforwards, conspiracy theory, aliens, or whatever reason they can invent.

The 8-K also confirms that the effective date of the Bankruptcy will be on or about September 30, which we already knew from the timing of the signing of the order by the Judge, but again it is helpful for people to hear it directly from the Company. FINRA should terminate the trading on or about that date, too.