While Bed Bath & Beyond slid into #bankruptcy, it spent over a billion dollars since 2021 buying up its own stock.
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@TheConversationUS This is nothing new. It's how directors and shareholders squeeze the value out of a company before crushing it. I've observed it since the 1970s. There are corporate raiders who build their fortunes by hunting for these kinds of opportunities.
I would imagine that years ago the directors decided there was no long-term future for the company. The job then becomes how to squeeze as many dollars out of the company's assets and reputation as possible.
