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
Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor. Each day The Boock Report provides summaries and commentary on the macro data and news that matter, with analysis of what it all means and how it fits together.