Shares in Bed Bath & Beyond surged more than 70% on Tuesday as retail investors on social media flocked to the stock after a filing revealed activist investor Ryan Cohen is holding steady on his bet. 

The stock rose as much as 78.8% to $28.60 a share during the Tuesday session, according to Reuters, and trading was halted multiple times for volatility. 

The influx of trading brought the share price up 440% in the past month. 

The filing that triggered the short squeeze revealed Ryan Cohen’s investment fund RC Ventures had maintained his percentage ownership of Bed Bath & Beyond 

And held on to his bet that the price of shares in the home goods retailer would increase to $80. 

Cohen, the founder of online pet goods retailer Chewy and the chairman of GameStop, bought a 10% stake in Bed Bath & Beyond in March this year .

And also snapped up call options on 1.67 million shares with a strike price ranging from $60 to $80 expiring in January 2023. 

Call options are financial contracts that allow an investor to buy a share at a certain price and time, meaning Cohen has essentially bet Bed Bath & Beyond stocks will rise to $80 by the beginning of next year.