Let me explain: In the summer of 2022, Ryan Cohen, a major investor in Bed Bath & Beyond, responded to a tweet about the beleaguered retailer with this side-eyed-moon emoji.

The Moon Emoji Is Securities Fraud. Also micromanaged investment bankers and a chrome orb. July 31, 2023 at 1:55 PM EDT. By Matt Levine. Matt Levine is a Bloomberg Opinion columnist.

Some investors said they interpreted Cohen’s 'smiley moon' emoji as a signal that he still believed Bed Bath & Beyond shares were headed 'to the moon.' IE 11 is not supported.

A simple laughing emoji can be seen as insubordination, while a smiley moon face was found to have affected a company's share price. Equally, even the red-flagged emojis can be innocent, depending on ...

In posts and tweets responding to Cohen's post, many investors said they interpreted Cohen’s smiley moon emoji as a signal that he still believed Bed Bath & Beyond shares were headed to the moon.