Eddie has over 1b cash and peak working capital needs have past with the holiday season. The current 500mm share repurchase program buys back 12mm shares at these prices, which is effectively the rest of the float.
I think everyone forgot about Autozone. Lampert started buying around $20 bucks a share back in the late 90s. AZO trades at just $350 a share. AZO had around 160 million shares outstanding back in the late 90s. Poor AZO only has around 36 million shares outstanding just now. I'm so heart broken by lamperts actions. It makes me wanna cry.
You can see a classic short squeeze developing and breakout on heavy volume. There's panic as shorts are slowly realizing we're in a dejavu and there are no shares to coiver without hitting the ask (10cents higher). You can see the buyback is in place because there was a heavy bid in the stock all day yesterday until the last 20 minutes of trade when insiders are prohibited from purchasing stock.