As I’m watching another meme stock party going on again, this time recycling thru Bed Bath & Beyond, I wanted to give midday context on the insanity in this stock. As of their last 10Q, BBBY has 80mm shares outstanding. Yesterday it traded 165mm shares and as of this 12:30pm writing it has already traded 238mm shares.
This is also a good time to point out that the S&P 500 is about where it was on March 15th when the Fed first started raising rates and the dividend yield on this index is back to 1.50% too. On March 15th though, the 1 yr T-bill was yielding 1.20% vs today’s yield of 3.24%. Interesting times.
SPX Dividend Yield