shares of bed bath  beyond inc surged nearly 50 in premarket trading monday after the wall street journal reported that the billionaire cofounder of online petproducts retailer chewy inc has built a 98 stake in the housewares retailer and is pushing the company to streamline its strategy and explore strategic alternatives the investment by ryan cohen who also serves as chairman of videogame retailer gamestop corp would make him a topfive shareholder in the union nj company which sports a market capitalization of roughly 156 billion based on fridays closing price of 1618 well below the 52week high of 4451 reached last june bed bath  beyond shares were recently up 496 to 2420 in premarket trading