We saw a bed Bath and Beyond move higher after hours yesterday
as a result of this stock buyback announcement in a deal with Kroger. So what's fundamentals. What's meme stock here. Give us
some context. Yeah the argument is that there was fundamental Updates. We saw really as you said a flurry of announcements
from the company. Big focus on that buyback announcement. When You peel back some of the layers and talk to some of the
analysts who cover the stock the fundamental update really means Nothing. When you look at the business loop capital came out
downgrading the shares to a cell and they were warning that as Much as you want to get excited about the hoopla around the
stock rally as he said the stock soaring not much changes. People aren't really going to Bed Bath and Beyond. People are
opting for other avenues to make similar purchases and that You're not really going to buy a Roomba from Kroger. When you
look at the Socceroos today stock at one point market cap was Back over 2 billion dollars. But again back in September we saw
quarterly updates that really poured some cold water on the fire Of meme mania that has powered Bed Bath and Beyond in
particular. And we've been seeing that with today's steady peel Back from an initial spike at the market open fairly. I'll say I
love Bed Bath and Beyond have spent hours there though I will Say I haven't been there since before the pandemic. So
interesting to hear you say that but I do want to talk about why This is happening again that we are back in a moment because I
thought we left that behind in the summer in March February. How Did we end up back here. Where we're talking about means and
short squeezes again means last forever. Better than time. The thing is with a stock like this this share
short interest is about 30 percent coming into this news. So There was some element of a short squeeze with concerns that
investors are going to have to buy the stock back at some point. You pile on the idea that hedge funds likely are having a role
in the market in particular to day. Again all options volume Really off the charts for stocks like AMC see elevated activity
and a Bed Bath and Beyond. And it really creates kind of a Growing fire that will fuel stocks higher. But again the stock
was at a more than a year low just last week. Fundamentally not Much is changing but there are areas in a market that seems to
only go up for hedge funds and individual investors to pile on To individual stocks. And we're seeing that with Bed Bath and
Beyond in some of the mentions across Reddit and platforms like Stock. Yeah talk a little bit about that baby because you spend
more time on these platforms than I think it's healthy for the Average person especially in platforms like Wall Street. That's
on Reddit. What are you seeing them talk about on stocks with And on Wall Street. That's right. Now what's the online chatter.
It's really a question. People are optimistic about the Opportunity. But when you look at a stock like Avis peeling back
in the double digits today there is a steady amount of Skepticism on those platforms. As much as people again are
excited about these huge returns they really are more focused on Stocks like AMC stocks like GameStop where we know retail
holders have a stronghold of actual shares available for trading Whereas Bed Bath and Beyond is where I would call it in the
group of kind of one offs alongside stocks like Kos or BlackBerry that get brought into the main stock phrase but
aren't really for original stocks.
