Ryan Cohen just confimed that he sold his entire 9.5m stake in BBBY on Tuesday and Wednesday and the news caused to the stock dropped 44% post market. It's a bad bad news as the stock shot up wildly to only realized that it's now having a free fall because of big investors heavy selling. However if you study closely the chart, there were already so much tell tale signs that the stock was about to collapse. See my sell position when I sold near peak on Wednesday.
The top volume was flashing BBBY last evening signalling that there was heavy selling last evening. From the distribution to the re-distribution, the stock was just so weak that the buying couldn't sustain the selling and it had to fall. If you watch the market last evening, you will see how those long red bars were furious as it got sold down which indicated heavy selling from big whales. Now that in the post market it dropped 44% to $10++, it just proved that one needs the chart to aid them in their buying/selling to avoid being dumped by the stock.
