Bed Bath & Beyond
Bed Bath & Beyond Inc. (Nasdaq: BBBY)
715 Morris Ave.
Springfield, NJ 07081
The ninth trade for The Fool Portfolio was the first ever cashout of a position. It was made on Thursday, March 16, 1995. We covered our short sale of Bed, Bath and Beyond for a decent profit. How about a little narrative from that day's Portfolio Recap?
"As you've no doubt already gathered, the Fool Portfolio got hosed today when the Editors failed to 'time' their cashout on BBBY. With the option of just entering a market order to exit BBBY at $22 3/4 or $23---a price they LIKED---the Editors thought they'd be the sly dogs that they obviously are NOT and catch the price a little lower today.
The price went no lower today.
Actually, the price went up, and up, and up today. Way up! And so the Editors finally got rid of this dog at $24 1/4. . . a full $1.50 over their cashout target. Sickening, to say the least."
Perhaps this debacle was a result of not trading on Friday, our lucky day (we're not superstitious, but this was our first non-Friday trade). We put in a market order to buy back 170 shares of Bed, Bath & Beyond.
ACTION # STOCK PRICE COMS'N CASH PAID PROFIT Bought 170 BBBY 24 1/4 74.89 4,197.39 653.08