BedBathBeyond stock sparks a blood bath among retail investors as it collapses, $BBBY stock falls to $10 after hours on Thursday as ryancohen sells stake. BBBY is also rumored to have hired top bankruptcy lawyers by ivanbrian9 stocks trading
which caused a rally in risk assets and equities. Retail came flooding back in and returned to some old favorites, namelypurchased some deep out-of-the-money options causing a good old-fashioned gamma squeeze to add to the more favored narrative of a short squeeze. A gamma squeeze is the number of underlying stock options market makers have to buy to hedge their option position.Now the converse is in play they will all be dumping the stock.
On that note, the story twisted further on Thursday as Bloomberg reported that top debt restructuring and bankruptcy lawyers. Bloomberg Law recently said, "Kirkland has been the busiest law firm in major Chapter 11 cases over the last few years, earning more than $200 million in pre-petition filing fees for such cases in 2020, the last busy year for bankruptcy lawyers".Unfortunately, this one was well flagged when the intent to sell filing was publicized.
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