It may seem hard to believe, but there was a time when one of the strongest, most consistent, but profitable stocks on the planet was the retail giant Bed Bath and Beyond. It produced the kinds of capital gains that would make the hottest tech startup green with envy, in spite of selling nothing more exciting than soap and throw pillows.
Over the course of time, however, BBBY peaked and began its demise. I don’t know the reason. Perhaps it was Amazon. Perhaps they saddled themselves with debt. It hardly matters. The fact is that BBBY diminished as steadily and consistently as it rose.
This all changed in the spring of 2020, however, because, just like everything else, BBBY and every other financial instrument on the planet was thrown into utter chaos by the countless tens of trillions of dollars of “help” that the central bankers of the world shoved down our throats. BBBY became particularly insane since, for whatever reason, it became a favorite meme stock amongst the degenerate gamblers of WSB.
It is truly hard to believe, considering the ungodly amounts of money lost by amateur “traders”, that they just keep coming back for more. Only yesterday, based on the announcing from the company that they would be doing a massive equity and bond offering, the stock exploded about 130% higher in a matter of minutes. As you can see from pre-market trading, virtually all of these gains have already been destroyed, with a fresh round of massive losses for the 20-somethings in WSB-land to carry forward on their tax returns for many years into the future.
I think we know how all of this is ultimately going to end up.
