$Bed Bath & Beyond(BBBY)$ has shares outstanding of 428 million but the public float remains the same. I don’t believe the public float has been diluted “YET”, for a few reasons. • The shares available to borrow is still 0. We would have seen this increase drastically. • The ticker is still on regsho. • >70% of orders are still being routed off exchange to dark pools • Short exempt volume was still extremely high and in line with previous data/days My guess is these shares will hit the market mid short squeeze to cancel their debt obligations. Much like $GameStop(GME)$ did during their squeeze…
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Also, utilization still remains at 100%. Brokers are still spoofing the Level 2 as the $SPDR S&P 500 ETF Trust(SPY)$ rips. Something seems off. Either BBBY just issued a poison pill, they’re waiting for a squeeze to release the shares, or they’re using those shares as currency for the M&A.
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