3. No joy in meme-ville
Bed Bath and Beyond shares tumbled double digits after hours when it became clear that Ryan Cohen, the activist investor and meme stock maven, filed paperwork proposing to sell his entire stake in the troubled retailer. It's not clear whether Cohen, who recently owned more than 11% of Bed Bath shares, actually sold anything. The filing became public late Wednesday, and it followed a Tuesday filing that said Cohen's firm, RC Ventures, owned more than 9.4 million shares of Bed Bath. The news set off a furor on the Wall Street Bets Reddit message board, where Bed Bath has become a favorite of the meme stock crowd. "Of course he didn't sell," one user said. "He's an ape like us." Shares of the company are up more than 300% this month.
4. CDC cops to Covid failures
The Centers for Disease Control and Prevention admitted after an internal review that it didn't respond quickly enough to the spread of Covid. So, CDC Director Rochelle Walensky said she would reorganize the agency to address its failures. Among the objectives: improving the speed of data-sharing and making guidelines simpler and less confusing for the general public. "For 75 years, CDC and public health have been preparing for Covid-19, and in our big moment, our performance did not reliably meet expectations," the CDC director said in a statement.
5. An EV packed with Detroit muscle
Meet the Charger Daytona SRT. It's not quite a car. It's a concept. But Dodge wants fans of its soon-to-be discontinued Challenger and Charger muscle cars to know that an electric replacement is on its way in 2024. As the autos market moves away from gas engines to battery-powered electric vehicles, companies, particularly the Big Three in Detroit, are looking for ways to preserve their legacy as creators of high-performance cars that drive both quickly and powerfully. Think Steve McQueen's 1968 Ford Mustang GT in "Bullitt," the Dodge Challenger in 1971 cult classic "Vanishing Point" and, more recently, the nitrous oxide-boosted street racers in the "Fast and Furious" franchise. EVs, on the other hand, are quiet, and can go 0 to 60 mph in three seconds.
— CNBC's Pippa Stevens, Jeff Cox, Lauren Thomas, Jesse Pound, Spencer Kimball and Michael Wayland contributed to this report.
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