The US Securities and Exchange Commission (SEC) has opened a probe into billionaire Ryan Cohen's ownership and sudden sale of Bed Bath & Beyond shares last year. Cohen, the so-called 'meme stock king,' famously took a $120million stake in the company, pushing for changes and hyping it up on social media, helping spark a frenzy that saw the stock soar 34 percent in one day.But just days after posting positively about the company, Cohen sold his stock in August 2022, sparking its collapse. The investor, currently chairman of GameStop, made nearly $60 million from the five-month trade.
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