Do you currently or have you ever smoked the reefer?
.223/5.56 is approximately 350/1k in a normal market.
Granted, it is not currently what I would consider 'normal,' but this is why group buys and/or waiting exists.
Just got back from Gander Mountain and they had 400 rounds in an ammo can for $229.
Not even that much, I was seeing a lot for right at $300 before the election, and it was still on a decreasing trajectory.
But, the panic has struck, its sold out. I'd wager that cases of 1000 go for at least 5-600$, but mostly you will see even more jacked up boxes of 20. I hate it. But it is what it is. I'm not buying any ammo and won't until the prices come down, but there are many who are.
I say starve the beast.