Telsey Advisory Group expects the stock to land at $3 per share, down nearly 84% from Thursday's close of $18.55. The price drop should come after Cohen's sale disclosure and Bed Bath & Beyond's recent hiring of a law firm that specializes in corporate restructuring, as well as the fact that the company has been working with financial advisors and lenders on strengthening its balance sheet, Telsey Advisory Group wrote in a note Friday. Telsey also pointed to recent second-quarter earnings reports from other retailers that cater to Bed Bath & Beyond's core consumer that show "a more challenging quarter, heightened promotional activity in the home to clear excess inventory, and trip consolidation toward discounters."