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BBBY administrator to meme stock nutcases: The company is dead. It's gone. This is an ex-company. Memestockers: THIS IS A DOUBLE FEINT

old.reddit.com Plan Administrator Michael Goldberg responds to more emails

Posted in r/BBBY by u/Drakamon • 175 points and 231 comments

Plan Administrator Michael Goldberg responds to more emails
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  • my brain always tries to read BBBY as BBBlackberry because I still cannot conceptualize the mentality needed to not only get excited about Buy Buy Baby fucking Bed Bath & Beyond (I legitimately forgot which oversized waste of retail space these fuckers were obsessed with), but think that owning shares in it is an economy-shattering financial hack opposed only by the billionaires they claim to hate and yet cannot wait to become

    Yeah called this dude out just the other day. Hes definitely a shill and his buddy wild gaselle is posting similar shit on another sub. All we can do is wait, all of the negativity is just that, negativity. If there weren’t so many ppl ready to crucify pulte and pp I might be nervous, but it’s insane how much hate they get. Very similar to DFV in his day.

    this is what psychosis inflicted by capitalism sounds like, and I hope that one day we’re distant enough from the system that pushes folks into these thought patterns to prevent anyone else from being afflicted

    • Not far off, per Wikipedia

      in 2007, [BB&B] acquired Buy Buy Baby, a chain of baby supply stores founded by Feinstein's sons

      I agree though. It's not hard to imagine a crowd of mostly millennial redditor men get nostalgic for companies like Gamestop, AMC, Blockbuster or Blackberry, but I didn't exactly imagine them being a demographic big into a big box furniture and interior decoration store. Ikea, maybe.

      Liberalism failed to end history after all, so anticapitalism is popular again. You don't have to be a leftist or even have a coherent political worldview at all to resent the billionare caste. "It should have been me" is more than good enough for many.

    • I know it sounds like copium, but I wonder if this language of "the BBBY shares are worthless and cancelled and not coming back" is a roundabout way of saying "the original securities you bought are not coming back and are worth nothing; however, new securities can be awarded in their place, the value of which is to be determined".

      He's being factually correct, which corresponds to the mountains of DD that have been done. Bed Bath and Beyond is no longer a company in the sense that it's branding belongs to Beyond/Overstock and any assets worth carrying over were turned into DK Butterfly, which is effectively just a core accounting department so far as we currently know. Of course, what isn't said is often the most important part of a conversation. While it's true BBBYQ shares were canceled, that's a different conversation than the issuance of new securities.

      oh for fuck’s sake, these are both sitting at 33 points

      • I realised that meme stocks were on-topic here, but we hadn't posted any. The trouble is that the meme stock alternate universe is on so many layers of self-delusion that the lols are very high effort. This one is pretty straightforward though.

21 comments