Billionaire Ryan Cohen pocketed a $68.1 million revenue from the sale of his stake in Mattress Bathtub & Past, scoring a 56% achieve on an funding he held for roughly seven months.
Cohen’s RC Ventures paid $121.2 million between mid-January and early March to amass 7.78 million shares and choices to buy one other 1.67 million shares, a regulatory submitting reveals. He unloaded all of them this week for a mixed $189.three million, in accordance with a submitting on Thursday after the US market shut.
The gross sales got here amid a surge within the struggling retailer’s shares this week, with the inventory worth greater than quadrupling from a latest low in July.
Mattress Bathtub & Past shares fell as a lot as 27% in late buying and selling after Cohen’s exit was disclosed.
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