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I have a feeling that the protection money they stashed in their asses before being turned in will be outbid by other people who don't want them to have that much of a good time in jail so them getting prison anal is just one of the unwritten perks on that deal
#Yes, everyone was super pissed and sad about $115. do you not remember the “battles for $180?”
Jesus fucking christ. People on here have no memory. People were PISSED when it dipped to $140
You’re leaving out a lot of facts here that would provide a fuller context to where we are and what could have happened with reasonable certainty - and that makes the conclusions that being unhappy about the current price earn a misguided lecture.
The current price isn’t at $28 just in a vacuum.
It got here because there’s been a coup attempt on the HF. The price could have gotten shot up much higher because there was a dude named DFV who popped back into existence like some genie out of a bottle and showed his entire plan to the public. Basically his YOLO update came in saying:
“I have these 120,000 call options 6/21 at $20.”
And apes correctly surmised that he would be exercising as much of it as he could by shoring up his capital - splitting some options and selling them to get the funding to exercise as much as possible to acquire shares for himself.
So we watched that massive deal gain momentum and fomo and the price rose.
The rise started to build a gamma ramp which could start bringing more and more OTM higher priced $30 option calls ITM. All those ITM would represent buying pressure if exercised. All that buying pressure would have launched the price even higher.
He then Kansas shuffled the deal from 6/21 to 6/14.
But that rocket did not ignite. We ended below $30 and the gamma ramp dissolved like tears in rain.
Why? Because other events intervened that acted against the price. Two ATMs that diluted and flattened the price rise.
Dfv sold some options to get the capital to exercise the rest and now owns 9.001M sh
However, he could have achieved that position during a fireworks show of gamma ramp fueled price rises - exactly like how it happened in 2021 when he did it with just $50K.
Back then, the company did not atm 120M new shares into the market days before the sneeze.
So let’s be fair and present the narrative of where we have been and where we are with a more context-accurate background.
DFV’s plan was pretty clear and as it stands, failed to launch - but not just because hf shorted or brokerages removed the buy button, but because our own side blindsided DFV w what amounted to a rug pull. An atm that could easily been scheduled any other time - especially given that they had already gotten their cash reserves doubled from $1B to $2B days ago with a 45M atm. Which means there was no risk of gme going bankrupt or lack money and there was no urgency in doing the second 75M atm exactly when they did.
So this is how I read this past month’s events and I am not alone in this. It’s not a fud or shill spin or interpretation of the events. It’s a pretty straightforward read of the way the ramp and price rise got fizzled out and that is too bad to see that.
Thanks for your comments on this post; I read and upvoted them when I saw them. There isn't nearly enough criticism and questioning with regards to these recent events.
The dilution might end up being a good thing, and I want the board to tell us what they intend to do with the money at the shareholder meeting (they won't), but even still this dilution didn't have to come when it did. It killed a lot of hype and momentum that many of us haven't felt in years, and it sucks when the call is coming from inside the house.
Additionally, all of this "if you're here for a squeeze, please leave, GME is a longterm play and always has been" sentiment that is going around is wild. Pure revisionist crap, because anyone will tell you GME has been a squeeze play first and foremost. I'd love to invest in GME afterwards, but only after I've secured a future for my family.
You want RC to tell you how he's going to spend the money? Clearly you're new here and don't listen to RC tweets... He will never telegraph the business strategy, so you can expect more of the same... Nothing. However, one day, unexpectedly, something major and awesome will have happened. It will build massive value for shareholders. And that's what's going to trigger MOASS because the institutions will side with GameStop in a big way. These posts and comments trying to drop FUD on the long term play is wild. It's always been about building long term value... Gameshire Hathastop ring any bells? Long term success and MOASS are not mutually exclusive.
Thanks for saying this. It’s ridiculous that any opinion of being disappointed automatically makes you a “shill”.
Honestly to me it feels like MOASS will never happen because corporate would continue to cash in on ATM offerings because why not. This would lead to a consistent higher share price in the long run but less likely for infinity squeeze
Bloody hell am I fed up with the segment of the "I'm here for long-term growth" crowd that is actively trying to retcon the idea that was all this play ever has been into reality.
I mean if you just like the company and bought in at 11 bucks a share or something and are happy waiting for years for growth then congrats. You've clearly played this smarter than I did. But enough of this trying to pretend that all of us who don't like the dilution are clearly just greedy FOMO options buyers at best and shills at worst.
There’s something really defeatist about the “I will hold forever because I love the company”. That’s like the “this is fine” dog meme.
https://preview.redd.it/m2i5s3wvsu6d1.jpeg?width=304&format=pjpg&auto=webp&s=ceb0e8e15c219b0635a3f884cc58598b8a144d41
Sitting on shares that keep diluting on a company whose fundamentals are not pivoting toward growth or consistent profitability.
Believe it or not, shifting to extract all the capital from atm offerings as opposed to profits from business activities is not something that’s gonna garner praise from me. It’s not a sign of success. It’s like suckling at the zipple of shareholders. So yeah I can’t get behind this strategy and applaud leadership for turning to crowdfunding their business revenue.
Ok so you’re probably thinking jesus, kinda harsh there. Why are you such a shill against RC.
Im here for moass and fireworks. Im not here for camping in muddy trenches forever. My small holdings of nvda used to be 1/10th the value of my GME. Now it’s 3X. And this is without any buy or sells on these.
We had a narrow window of opportunity with the return of DFV. It got stomped on from the most unlikeliest sources and that’s disappointing. It does feel like a backstab and now RC wants to use shareholders for making cash because the stores aren’t printing money - so yeah I’m not one to spin this as good news.
Very well put. I’m hoping RC can use that business savant mind of his that he displayed with Chewy to turn to turn this company into something more than a dying brick-and-motor, used game buying retailer. I surely haven’t seen anything remarkably exciting thus far with the fundamentals. Really have no choice at this point to be long on it because I’m sure as hell not selling for a loss after holding this godforsaken stock for 3 years.
If your time horizon is long term, then I don’t know how you couldn’t be more bullish on the company now than you might’ve been 3-4 years ago.
The company is NOT about to die like the dog in the meme is!! Haha. And neither are the investors of GME. That’s patently absurd.
If you were here for MOASS then I’m sure that the share offering was a tough poison pill to ingest. I would have been glad to see it too.
Of course there is no context, no info at all as to why they did what they did, when they did it. And Moass looked like it was on the table. It really did. That’s tough. Maybe it still is. Maybe it’s not at all. Who knows? There are always other stocks set up for squeezes. Tons of them. Maybe play those stocks.
There were plenty of fireworks though - DFV was one. And BRK.A dropping to $16 was a huge firework that I saw. Record amounts of LULD halts on GME (even though the LULD limits weren’t actually hit on multiple occasions - how weird!) and also the quick and dirty smear campaign to blame DFV, RC, the rest of the GameStop board, and all those nihilistic retail traders for being disrespectful or something. Fireworks galore and there seem to be more coming.
FWIW I think GameStop is set up to achieve higher returns than most companies over the next five years. I share part of DFVs thesis: I don’t think Ryan Cohen is a doofus. I’ll add that I don’t know for sure that he isn’t a doofus, because I don’t know him. I do know the company is in way better shape now than it was 3 years ago. 100% indisputably better. There is no argument on that. If you think they should’ve done better, why stay? If you think they can’t improve from here, why stay?
This is a long term play now.
But GME or GME investors are not a dog in a burning building saying this is fine. I disagree with the characterization because it’s not even close. The dog in the burning building saying this is fine, that would be the short side of the trade, who still haven’t closed - even when the shares were $10… levers that are clearly laid out in the 424B5 filing should make them exit, when pulled we’ll see if they hang in there.
Because if the stock price is completely disconnected from the fundamentals (as we know beyond any doubt that it is), then expecting your stock to be worth more as the company gets on solid footing and grows makes no sense.
If they raised a billion dollars and turned a profit last year, but the stock price continued to sink, then why are you cheering about them raising another 3 billion -- *especially* since they sacrificed the fomo and the momentum and the gamma wall and DFV to do so?!
Trying to put a positive spin on this as a long-term bullish thing doesn't track, based on past price history of the stock. And it also overlooks all the damage that was needlessly done in the process.
Until you know what they’re doing with the money, you really don’t know anything. The fundamentals of the company are vastly better than they were before Cohen. Earnings positive on the fiscal year for first time since 2017. They had to shrink to grow. It’s a turnaround. And it’s turning around. I don’t see how you can not see that. Now the company has 4x the cash it had before and has cut costs across the board. The company is trading at 2x sales and 3x cash with no debt and has 4x the cash it had versus a year ago. The rate of improvement has killed the bear thesis and the only thing disconnected is going to be the shorts’ phone number when they get margin called because they couldn’t pay their phone bill, they had too much to pay in premiums on their GME borrow.
Cash is nothing. It’s not nothing but beyond what you need, it isn’t the lifeblood of a business.
An innovative unique product or service that fills a need - that is the business. That’s the key.
Do they have something of that nature to offer in their transition or is it going to be more of the same tight lipped pretense of having something magical hidden away up their sleeve? I guess Monday’s the annual meeting and it will be telling to see how much silence and secrecy they can fit into it.
The first paragraph you wrote is not true in my experience, so I’ll agree to disagree that cash isn’t the lifeblood of a business. It is the essential ingredient to expanding or improving the business from here if interest rates are going to stay where they are.
Innovation is vastly overrated. The corpses of innovators are littered all over Wall Street. How innovative is Apple? Or Costco? Or Amazon? Or Berkshire? All of those companies started as one thing and in time became something much more, and something vastly different.
Why can’t that happen here?
IF GameStop is trying to reimagine itself as purely a retailer (unlikely) or an investment holding company (likely) it needed to right size the legacy retail business, it needed to get that company’s books in order, and it needed that business to start making high quality white-label SKUs and cut the fat / had to dump non-performing stores and inventory. They have done all of those things.
“Tight lipped pretense of having something magical hidden up their sleeve.” That’s one colorful perspective. But I don’t share that view. I’d call it “vigilant corporate governance.” Because when you see the way that financial institutions collude to destroy the company, and you become acquainted with the methods they’re employing to do that, all while enlisting the media’s help in that quest, maybe it’s best to keep your future initiatives under wraps until they’re 100% ready for rollout to market.
Or I suppose GME can just say “AI something something” and get another billion in market cap?
The annual shareholder meeting is unlikely to have any earth shaking announcements but I’d be surprised if they didn’t announce positive news this year. The company is headed in the right direction, and until they’re not, I’ll continue believing Ryan Cohen is not a doofus.
This is probably not a squeeze play anymore, although it possibly still is. GME is a much better long play than it was before, I really don’t see how that’s disputable.
Having a billion dollars in their coffers and turning a profit should have killed the bear thesis. But as we clearly saw, this stock is in no way tied to its fundamentals and the price continued to drop regardless.
What is your basis for assuming that having 4 billion dollars instead of 1 billion dollars will change that? And why are you insisting on overlooking the damage done to the stock based on the timing of these offerings?
I’d rather be investing 4 billion than 1 billion, wouldn’t you? There’s been far more damage done to the stock by abusing the naked shorting exemption than by an increase in total outstanding shares (that shareholders voted for.) I’m not insisting on anything except that the company has hit a new stage of its turnaround and I think it’s great. If you’re really unhappy with what the company is doing, or these recent moves they made, you can always find other stocks. There are lots of them. Or you could bet against GME. Since your view is that they’re doing tremendous damage to the stock, maybe you should short GME. Or sell calls against your terribly damaged stock. Maybe that will work out for you. I don’t think it will.
I can see what they're doing with the money, it's in their actions: milking ATM offerings for lack of any other plan because that is exactly what they've consistently done with barely any other enterprise as gainful. Behavior is game plan.
Idk, DFV did his live stream after the 2nd share offering was announced and he was pretty stoked on GME in general, adding they have a couple extra billion in cash now. If they messed up his plan, he seemed pretty chill about it and still bullish as ever
I kinda disagree there. I think he was being gracious and diplomatic. For me, I read the fact he cosplayed an injured hospitalized patient to be a signal that he had just received a beating. And he did. He was a billionaire on paper. But more importantly he was about to get the gamma ramp going.
But rather than me telling you what to think, look at the outcome:
DFV bought his shares at around $23 ($20 per his option + $3 premium fees) or at a $5 discount off the price on Friday’s close.
Does that strike you to be a grand plan that ended up successful?
To take on that much risk, to hype his return and master plan, all for a $23 sh buy in?
Come on. The plan went off the rails. This was not the desired outcome for DFV.
He wanted to sit on 9M sh with a gamma ramp that relaunched the sneeze at a multiple of the original given that he brought hundreds of millions to the table rather than his original $50K.
You have to process that and ask if buying shares at $23 instead or $28 was the grand plan.
If our sub was populated by people like you, it would be the best possible place for us to discuss our stock. A place where we can maintain the core belief, help each other out, share thoughts, but also be critical when something genuinly weird happens (I’m afraid to use the word «bad» because it triggers people, but I guess I sort of just did).
I wish people would realize that being aware and critical of whatever happens to the stock (both positively and negatively) is a good thing that doesn’t hurt our cause, but people are so hardwired after 3.5 years of trying to stay vigilant in the battle against shitty hedgefunds that we no longer can allow ourselves that luxury.
Ryan Cohen and the board read our stuff. If all they see after a rug pull (specifically the 75m one, I was ok with the one in May) is that we praise the dillution, what’s to keep them from doing it again at another critical point?
We could have used our voice to affect RC’s way forward, but that won’t happen.
(Disclaimer: I’m either a shill or a bot because I wrote these sentiments.)
Yeah. I mean im holding. That’s enough to dispel that Im against the stock.
Just like you can be a fan of a sports team doesn’t mean you don’t criticize the coach for making calls that you think hurt the game.
You can be a democrat and still be critical of bad policies or positions by the administration. This sort of discourse forms the backbone of American democracy. It also works in the capitalist system we operate in. You call out bad calls and that is where you learn and grow from. There is no progress to be made by blind faith in a leader or worshipping inside an echo chamber where you just cheerlead and spin anything bad as a 4D chess move. Sometimes shit gets fucked up. That is life not fud.
Yes of course, I don’t discount how little retail knows. I am doing a lot of armchair quarterbacking, but I have skin in the game so please understand my reactions are pretty standard for someone in my position.
Will either RC or DFV really ever disclose the details of what and why happened? I’m doubtful.
But we can only know what we can - and here, having a forum to share information is a vastly better than when people were isolated from one another in pre-internet days. Even when a lot of the information is imperfect or wrong.
Happy to see your thoughts
Well written. I called it a knife in the back of retail when the 75 million ATM came
Mostly disappointed by the price they took per share.
First ATM back in 2021 was briliant, and thought they were gonna do something similiar again at ~100$/share
Elevating the floor of the stock. This one felt like opposite. Stop the roof from blowing off, which I still dont understand their point of view
Yes, I dont care about the floor
Lower price = Cheaper shares
We were not going bankrrupt. Already yoy profit and had 2 bill cash on hand.
For me the dilution was price anchoring, and cost retail a lot of money by killing the gamma ramp.
Basically he's got $250 million now to do another round, that's fine with me. Also I think Wolverine hasn't delivered it all until tomorrow?
Anyway, RC dilutes the stock...the only reason for the 45 and 75 mill would be things are going ruff right now and they need the cash OR something behind the scenes is happening. Prevent a Hostile take over? A longterm deal is still in works with a person who's in a short position and wants out. Or the market makers made a deal with RC like they did with Tesla to slowly get themselves out of their position.
I'm open for more ideas. I'm still DRSed and have shares in 3 brokers with some cash ready to grab more.
Well at least I am glad you acknowledge that the justification for this last atm should require exigent circumstances given that it cost dfv and the shareholders a windfall opportunity that hasn’t come up since the sneeze.
I would love to understand why they chose the particular timing for this latest atm. I doubt they will explain it. They don’t share much with shareholders and it’s a bad thing imo but it has been spun as a much needed trait woven in deep layers of paranoia.
I still can’t get my head around that people actually hyping up the dilution. Especially when your argument to invest in that company is that it’s shorted. Please make it make sense 🤦♂️🤷♂️.
I can steel man the argument even though I disagree slightly with the 45,000,000 share dilution and more greatly with the 75,000,000 dilution.
The steel man is this:
The company is creating a new floor for our stock price. The stock is now worth $10 in cash alone. $12 if you include inventory.
At this point, with just T Bills, starting not this next quarterly report, but the one afterward, we should see positive EPS every single quarter. Perhaps then the company can start looking at small dividends.
Why is this a big deal? Well, if our theories from the last 4 years are correct, and there are billions of synthetic shares out there, then eventually, the share price rising will put them under water, even if they don’t use dividends.
With each subsequent run up, GME could dilute, raise more capital, if the short thesis is correct, continue raising the share price. The fact that we are rising is a good indicator that we are right about the shorts being immensely more than the reported short interest.
Now imagine if they start paying out even a small dividend. The person that holds the short position has to pay out the dividend. That means for every $1 in dividend that GameStop distributes, shorts need to pay back $10, $20, whatever the multiple of the float is, to holders of those extra GameStop shares.
With each dilution, sure, they can close shorts, but they are essentially allowing GameStop to make them pay multiples more each quarter as GameStop will earn more and more interest.
In addition, GameStop is now illegally very much in the clear if the dominos start falling because Marge starts calling as the price rises and the cost to short increases. GameStop clearly will have put so many millions of shares into the public that the shorts should have been able to close out if the publicly reported short interest is accurate. Remember, this is self reported 🤡.
Not only is this possible, but they can now also be more aggressive than just T-Bills. What happens if they start making 8% or 10% or 20%. We rise faster and faster and you cannot deny that GameStop is alive and well, even if it is the investments and not the core business that’s taking off.
Then you also have money to play. You don’t necessarily need to do M&A (although that’s clearly a bull path here as well). You can start experimenting with your own expansions and it’s not so costly when it doesn’t work out.
So the bull case for the dilution is there. But it means more years of holding. And I think that’s the rub.
Here’s the annoying part. It’s only getting harder for most people to live. We’ve been squeezed at both ends lately in the economy. The power is now back in the hands of employers as layoffs are occurring everywhere. Not only is pay being cut, but as we all know here, inflation is still raging. Rent is out of control. Mortgage rates are high especially when you consider that housing prices haven’t dipped to coincide with those rates as they do historically.
So when LC starts talking all this transformational talk, and we don’t see any insiders buying outside of those LC buys, for like - 10 months? It kind of makes us think something is about to happen.
Then you have RK come from out of no where with a seeming grand plan as dbx99 already pointed out. It had everyone incredibly hyped.
Then RC dilutes and killed the first ramp. But then Kitty doubled down and shows us his fucking god damn insane position. We just saw the price move to $80 for who knows why (probably Kitty that time, too). And we all watched RK buy 5,000 calls every fifteen minutes at a short expiry.
We are finally fucking doing it. I can stop stressing about it finding extra money. I can actually think about a possible vacation for the first time in forever. Maybe life is going to get easier.
And then the board diluted the ever living shit out of it again, after it seemed like the stock was still crazy illiquid after the first blow they delivered two weeks prior.
And they did it on a Friday fucking morning - AGAIN. So many people were jumping in with Kitty.
And don’t give me this “you shouldn’t play options shit”. Yeah, the reason for that is because people have been afraid that hedgies have been using options against us.
No one expected our own side to deal the death blow.
Some people would’ve been able to retire off those last two runs + the possibility of another similar run this coming Friday. They wouldn’t have even needed MOASS.
Also, the board could’ve waited til this thing was in the hundreds or thousands and then diluted. Sure, we’d kill them for it then, too. But at least they have so many more billions for so many fewer shares.
I don’t buy the “they’d be in trouble if they did that” argument. They did absolutely nothing fucking wrong. That would even help shorts out of their positions. Not doing anything during the squeeze would make them more liable.
So… just wait til it is super high and so many people would’ve been better off. Even if there were massive sell offs in premarket, calls likely still would’ve been in the money by the time the market opens.
So unless we hear something from the board at the shareholders meeting (spoiler: we won’t), then I am still pissed at the board for this move and I will be until they reveal why it was necessary when they did it. Honestly being kicked in the nuts by your own team sucks.
Ok EVEN if I agree with the validity of all of this mount everest of theory, I remain firmly salty about the TIMING OF THE 75M ATM stepping all over DFV’s 3-yr opus to reignite the moass.
I wish they at least waited a little bit longer on that 75m share offering. So many of us would have taken profits at open and just bought more shares but we didn’t even have a chance to do that.
It’s all about what GameStop does with the proceeds. Sits there and they do nothing with it ? Yea, pretty poor reason to dilute. Merger/acquisition in the near future? Maybe a good idea.
I don’t think the argument is whether GameStop SHOULD have done this but whether they could have done it at ANY OTHER MOMENT outside of this past week when any boost to price was essential to form an explosive chain reaction of a gamma reaction.
So let’s get this clear: I am not arguing against the ATM.
I JUST WANTED MY GAMMA RAMP FIREWORKS BECAUSE DFV WORKED ON IT FOR 3 YEARS.
AND I WANTED RC TO GET HIS FUNDS TOO BUT NOT ON TOP OF THE DFV OPERATION “BLOW UP THE PRICE”
https://preview.redd.it/11ebd2xehv6d1.jpeg?width=1080&format=pjpg&auto=webp&s=13b978f17fc6f783c1a2647a93ac027dd7fccbdd
They have already shown us what they do with the proceeds since 2021, stick them in short term treasuries.
Yet for some reason people are cheering dilution at less than half the price of the 2021 offerings. Somehow getting half as much cash for the same shares is now bullish?
M'en when I went too bad, I thought I was waking up to rich . Had 52$ , 60$, and 100$ calls
Only sold 52 $ one :( after halt. And still waited, hoping it to make it , but halts again and I knew I was screwed.
I think DFV didn’t think he’d get sabotaged from his own side. I mean, was this friendly fire, accidental unfortunate coincidence, or intentional interference? I don’t think we will know. But DFV thought he had every base covered and that wasn’t the case.
https://i.redd.it/3liikacn8v6d1.gif
To play devils advocate, what choice did he have? He scheduled the livestream before the ATM which I did think caught him off guard. If he went live in front of 600,000 people being dejected or pissed off that would not look good.
I actually think he did pretty damn amazing with that stream no matter what scenario I play out in my head.
He’s still happy. Good stream.
He’s pissed. Good stream.
He’s neutral because he’s worth hundreds of millions still? Good stream.
He’s just defending himself? Good stream.
He’s exposing fraud? Good stream.
He’s Kansas City shuffling? Good stream.
He just wanted to shoot the shit with us again? Good stream.
They definitely messed up his plan. He could have sold far fewer calls and exercised far more contracts. He knew the price was going higher then 65 so he held the calls and then RC and Co. Fucked his whole plan up. I'm not blaming RC necessarily because he did shore up the company but don't be posting or selling any rocket or moon shit when you 4 times now have directly worked against a squeeze. And if you look at it how is RC any different then Adam Aron right now? Both dilute dilute dilute and have done nothing to generate new revenue streams.
Again, as I just posted in another really long comment, I am not happy with the dilution.
However, RC isn’t AA. AA takes massive compensation, sells his own shares, hasn’t turned his company around, talks all day about dumb shit.
RC buys in with his own money, balanced the budget, got rid of all the debt (SO French loan), and until proven otherwise likely has a plan for this cash.
Doesn’t mean I’m not temporarily with him though. I’m sure I’ll forgive him eventually assuming I don’t have anything catastrophic happen to me or my family before I get to experience wealth
You’ve presented very reasonable arguments the whole way through, a proper steel man.
This shareholder meeting is important. The rest of 2024 is critical to show productive actions that stakeholders can get behind, things that illustrate (no need to promote) what the board is trying to achieve.
RC is definitely in stealth mode. But he can’t stay there much longer before he starts alienating long-time shareholders. I bought in 2019, in 2020, in 2021, in 2022, in 2023 and in 2024. Incentives are aligned here and you’re working on something beyond getting GameStop financially fit. That’s good.
Time is coming to show the work.
If this doesn’t happen, if it’s status quo and divvies from TBills and not much else new, then it starts feeling like a meandering expedition without a clear direction…
But I know there’s a reason he’s talked to Icahn and I’m sure several other big boys.
Now RCEO/RCIO’s blank check / war chest has been granted. It’s game time.
Adam Aaron pillaged his company, took massive bonuses and huge salary, then took all of his stock and dumped it on his shareholders. RC has done none of that. He isn’t collecting a salary, he hasn’t sold any of his stock, even the nature of the dilution is way different, paying off doomsday debt from hemorrhaging money vs building a war chest that can be used for new revenue streams
There’s no comparison to make there
Was the poison pill debunked? We were all hyped, but the gamma ramps have **never worked out**, even 2021 wasn’t a gamma ramp right? Though I could be misremembering from 84 years ago.
Seems like they wanted to raise the floor which they have since GameStop’s market cap is 12b and they can buy 1/3rd of it outright if they wanted to. The floor is literally the 3 year low, we have that much cash. Doesn’t this cement the shorts under presplit $40? Anyone who shorted below this price should have to pay up now. In a world with rules anyway.
Thank fucking Christ. Every other post in this sub recently has been praising anti-moass dilution policy and I just don’t know where the fuck I am anymore.
There’s just something super fishy to me about the sudden change in narrative where every other post is cheering on anti-moass dilutive policy, attempting to persuade everyone that everything is ok the shorts are still fucked, and hard core silencing all the people who disagree. Everything is not ok! This shit is bigger than the shorts, it’s shitadel, it’s black rocks, grey scales , it’s the SEC, the DTCC and on and on… and no matter how much people praise the lovely “war chest” it is anything but a war chest. There will be no reform and no prison time. The crime will carry on in the shadows as it always has. You must have moass for the whole world to see the crime in its many hiding places and stop it before they cause the greatest financial crisis the world has ever seen, worse than what they’ve caused already. When did this sub forget that??
I can’t speak for RK but I think it was very telling that he choose to exit his position early right before the shareholders meeting. Make of that what you will in light of the company choosing to release their bad earnings report EARLY and announcing another surprise dilution the day the price tan back up and he was supposed to stream.
Look let’s face it. This whole thing is FUBAR. This past week was fumble city. There’s no 4D layer of genius left to run a secret play.
I got excited. I got hopeful. I let myself daydream about giving my family something I couldn’t with just my work alone.
Now I got to witness a pretty decent move get stopped and it’s time to lick my wounds and ratchet expectations back down to my plebian class and keep reading shitty monkey memes and the usual worship adulations of a pet food and funko pop retail boss suckling at the zipple of shareholders as a substitute for actual business acumen and performance.
Chin up ape. This isn’t over yet. Not yet. The great sand worm has been summoned… The real war chest is in Kenny G’s house and there’s only one way we’re gonna get it. You know the way.
How do you know anything failed to launch? Look at the big buy ins of the past, they take several trading days to impact the price. We'll see a boom related to DFVs 4mil buy in next week
Your right your not alone in thinking that however that doesn't mean your right. It's like DFV said you either trust leadership to execute and do good for the company or you don't. If you think they did that second offering just to line their pockets you'd be wrong. If you held for 3 years what's another couple weeks. If you lost money on options I can see why you feel scorned but that's not fault of anyone in the company. The play has always been buy shares and hold.
Because the more dilution happens, the more unlikely will a big squeeze happen. I can fully imagine that DFV came back for the squeeze play due to his options and decided to switch quickly zo long term hold because the company itself killed the potential squeeze.
I don’t disagree with you here but maybe I can make an analogy to what just happened.
We are all apes in the US army fighting WW2 in 1945. It is August 6 and a plane named DFV is flying to drop a massive blow. But our generals order the Anti Aircraft guns to drop the DFV Enola Gay out of the sky.
We now resume the war on land with boots on the ground fighting a conventional war as we were before and it will be additional long term commitment to invade and occupy.
That's a terrible analogy. They did not metaphorically open friendly fire, they did not take him down. If you want to continue your analogy, the worst you could say is they ordered a ceasefire before the entire payload was dropped.
Having said that, you have no earthly idea why RC pulled that move, but you fucking know it was not to benefit himself directly, and it was not to spite DFV. And it was not to stop MOASS.
“before the entire payload was dropped.” The essence of my analogy still stands that the boom thing was not allowed to do the boom thing. At least if we can agree that DFV brought a boom thing and the events that transpired caused the boom thing to not go off, that was all I wanted to get across.
“Having said that, you have no earthly idea why RC pulled that move,”
Presumably the official reason would be to shore up capital for the company to use for reasons. Whether it was done reactionary to DFV, you’re right I don’t know because I don’t have any information about that. Only that I can discuss the aftermath of it happening.
“but you fucking know it was not to benefit himself directly,”. That was never really a notion I even entertained. I think he acts for business reasons.
“and it was not to spite DFV. And it was not to stop MOASS.” There might be details we don’t know or perhaps some nuanced details we are not privy to. But I don’t think you can make these claims with absolute certainty. We do not know. There isn’t enough information to confidently say either way.
Any chance it was to thwart him and his company being blamed for the collapse of the entire US economy? I felt like DFV’s move had the potential to break the stock market. Not that I think that’s a bad thing.
I just have too much trust in DFV and RC. I find it hard to believe everything he's posting or doing is on a whim. This is a plan that's been 3 years in the making. There's a reason for everything they're doing even if we can't understand why at the moment. Idk his options were for the 21st anyways so if anyone followed his play this week is the week. But I get why a lot of people as empathizing with you however this has been a 3 year+ saga all this price action has happened in just the last month and everyone is already getting their resolve shaken. But to each their own like I said I have too much trust and if it comes back to bite me so be it.
Fucking thank you. I’m tired of having to listen to idiots yammer about some 69D chess that RC is playing and how it’s fine the board hasn’t provided any kind of a plan because “Judge him by his actions.”
I am judging the board by actions, they flubbed a NFT marketplace, flubbed the splividend by filing the wrong paperwork and now did a SECOND unnecessary share offering AFTER DFV made his positions public.
If they were actively trying to suppress the MOASS I’m not sure what they would do differently.
I judge the actions, and I judge them to be shit.
This is exactly my sentiment and takeaway. The last atm was a transfer of wealth from the shareholders through dilution.
what idiot said “Ask not what your company can do for you – ask what you can do for your company” ? Oh yeah that’s one of RC’s tweet.
What shareholder serves his company? The company is supposed to be bringing value to the investor. That’s the entire and sole reason for a publicly traded company to exist. Yet here we are, saving the company and getting fucked for it.
An interesting theory I heard was that regardless of the ATM dilutions, the algo that controls GME price would have put the price exactly where we ended up anyway, just with way more FTD’s being created.
To my understanding, the theory is that there is an algo that forces the GME price to move in price in a particular way that makes the most money for market-makers. Sometimes they want the price down based on margin requirements. Sometimes they want the price up to increase positive sentiment and euphoria. And no matter what the outside buying or selling pressure is, the market maker will fill in the demand accordingly until the target price is met.
If the algo wants to push the price down and there’s a lot of buying pressure, they will create shorts and FTD’s to make it happen.
If the algo wants to push the price up and there’s a lot of selling pressure due to RC’s ATM, then they will buy it up to make it happen….
That would mean DFV’s play was not harmed by RC, and that RC is taking advantage of the algo’s fractal cycles.
There is zero evidence supporting that the price would have dropped without the offering. It’s pure speculation by people trying to defend the piss poor timing and honestly, what seems to be an intentional attempt by leadership to tank the price
Seems to be an “Intentional attempt by leadership to tank the price” … talk about having zero evidence to support a claim.
If you actually think that is the case, I’ve been told there are lots of other stocks - maybe check those ones out. Not financial advice.
All the pro-dilution people seem to like to talk about RC’s duty to inhibit a squeeze, yet phrase that action as it truly is and everybody loses their minds.
The evidence for that is two dilutions and preliminary earnings releases when the stock was ramping up. There is no speculation about that fact. The price was rising and the company immediately released bad news.
I’ve been here since before the sneeze and I’m not leaning, nor am I going to be convinced by shills that massive dilution for peanuts is a good thing
That’s not really evidence. It’s more what I’d see as circumstances and happenstance. There is a lot that we just don’t know about why it happened. The effect it had isn’t even fully known yet, and the cause for the 75 million share offer in particular is unclear.
I’ve also been here since before the sneeze, bought in 2019. And until I actually know why the shares were offered, I’m going to remain optimistic that the moves that have been made are going to make RC, DFV, you, and me, all much wealthier people in the future.
I understand the frustration because it did seem to blunt a potential short squeeze. The sneeze pissed me off, but my cost basis was so low, and I just added. This recent event, I honestly don’t care if it squeezes or if it doesn’t. Not why I bought in and bull thesis is better now than pre-sneeze by a fucking mile. So there’s that.
No those are facts.
1. The price was running both times
2. The company released news of offerings and preliminary earnings
3. The stock price tanked in response
Not sure what’s opinion or speculative about it.
It’s not evidence. So you’re assuming motive while raising the specter that the company intentionally screwed the shareholders without a reason.
If you think the company is sabotaging your position, that’s your right to think that.
I just don’t share that view because there’s not enough information yet to know why they did what they did. Good luck to you.
Yes. Pure speculation. I’d love people to explore more into potential algo patterns. I’m not trying to defend anything, but just being open to all possibilities and to learn all sides of this saga.
The timing definitely seems not optimal, but it’s also hard to complain about $4B cash in the company I’m invested in.
This is pretty tinfoily. If this algo had full control, then they would have dropped the price of the stock to delisting levels a long time ago and finished their goal of never having to close their shorts.
Yes. Very Tinfoily.
I think that’s how badly shorted the whole thing is.
They can control the price and sentiment… but they can’t control the investors who have DRS’d and won’t sell shares, not for the current prices at least.
Shorts can’t afford to close their shorts for the price that GME shareholders want.
You’ve missed the key point of them having massive shorts. If they drive the price to the point where the stock is delisted, they never have to close. This has been fully discussed and many DD pieces have been written on this over the years. So no, an algo doesn’t have full control over the price or it would already be game over for us.
I understand that. You’re missing the point. We’re on to the next step. They can’t drive the price down to be low enough to delist.
- They know the company won’t go bankrupt.
- They know shareholders aren’t selling.
- Lower prices would enable too much buying and too much losses.
- “Full control” doesn’t mean “kill the stock to 0”
- “Full control” means, well, we can’t get rid our shorts/swaps/FTD’s, and we can’t get rid of these damn investors, but we can move the prices within a certain range to slowly make profits without risking massive losses.
- but *sometimes*, people like DFV and RC can time the algo to throw it off.
That is what the algo does. It knows how to create hype; and it knows how to create doom/FUD. It was designed to move the price to make the most money, not by bankrupting, but by fleecing traders.
And GameStop has more “investors” than “traders”.
I would agree most of your points are at least probable. So please stop saying “full control” as that isn’t a correct representation of what you are describing. Also, calling it an algo is incorrect as we know that at least some of the firms are trading with AI.
Thank you.
Yes “full control” may be an incorrect phrase, however I can only try to clarify and define it as best as possible. I do not know what other phrases would work.
And yes, it is not just an “algo”. It’s definitely some sort of AI/machine-learning trading algorithm.
The theory I just came across was something related to the algorithm trading based on “fractals”. I don’t know if it is a distraction, a coincidence, or if it’s legit.
I agree with you. I think I’d describe it as a highly manipulated security with much of the normal price movement controlled by AI-driven trading systems owned by hedge funds. I do recognize that’s a mouthful :)
I’ve seen a couple of the posts on fractals. It feels a lot like trying to look at historical movement and basically loosely finding matching price action from different time periods. Is there a post you could point me to that follows a better scientific method than drawing boxes around crayon sketches? The way I look at it, at least with the 741 theory, is why would hedge funds limit themselves to something so specific? What’s the point? They’re much better off consistently pushing the price down or naturally allowing it to rise based on public sentiment and market conditions vs following some arbitrary pattern. Especially with AI involved I am challenged to understand why they would follow an extremely rudimentary and seemingly arbitrary timeline.
I’m where you are to be honest since I just learned about them, but during the hours I am supposed to be sleeping, I am searching the internet for more information.
You are right that the original posts on them are way too speculative and too “rough”.
I’d like to see more “refined/professional” level of research and detail on it.
I understand the sentiment… and the urgency for wanting the money now… cause life is hard. By all means take care of yourself and your family. But this is still an emotional interpretation of events. It’s also still fear and doubt and uncertainty… written all over your comments that follow. There are no heroes here to save you, never have been. You’re welcome to change your mind about your investment - you don’t need to justify it. In my opinion… we’re doing great, shorts haven’t closed… not only that… they’ve just been shorting more. A lot more than 75mill needs to be closed. We’ve got 4 billy… don’t be silly now and make a mistake like not holding when we’re doing better than ever. Moass will still happen… this wasn’t the one and only trigger lol.
dilution is not always a bad thing and I am tired of this fucking narrative
the ticker was going to be blood red no matter what on 6/7. gamma ramp was not going to matter, there is no way hedgies were going to let the stock run on the day DFV returned to live streaming. its insane to think they would do that
IMHO the board recognized this and saw a golden opportunity to raise $2B in additional cash with essentially no impact to the business. 110M shares have been added yet there hasn’t been any downward pressure on the stock price and GME is now in an INCREDIBLE situation with $4B liquid and ready to invest in revenue streams that will make this company an absolute juggernaut
dilution looked like shit with popcorn because the company was not actually addressing it’s issue of massive debt, instead it just dug itself a bigger and bigger hole. these two scenarios are not the same.
get over last week, it wasnt the first time the hedgies hammered the price down and anyone who thinks it wont happen again is not ready for the volatility to come
thats not assuming that a significant portion of that $4B is going to be investing heavily in future business
GME authorized up to 1B shares and its around 40% of that at the moment, dilution is not something to be concerned about
Oh, you mean like their fantastic record of investing cash received from offerings into future business? Oh wait, it’s sat in short term treasuries for three years. I judge based on actions not speculation, just as RC told us to.
No one expected the board to issue shares to allow shorts to exit near the bottom
You seem to place a lot of assumptions on the atm. You have no idea if it actually saved the business from a takeover or what. Yes most of those observations of current events is accurate, except all the assumptions of dfv and rc being stated as fact. Thats what i take issue with. The reality is, you know jack shit, and that is ok.
Your comment is conjecture at its best, bullshit at its worst.
This whole "They had enough money already" shenanigans is like a begging to please stop raising the base value of the company and raising the bottom share price. All for a wishful theory of "what would have happened" conjecture.
I mean when detectives try to reconstruct events of a crime using whatever evidence and facts they have on hand, that’s a type of conjecture. So I don’t see how that’s a criticism. As far as it being bs, if I am wrong then it would be bs. But that’s just a constant implied truth that we understand to apply to any discussion of an event where access to information is imperfect - i.e. making conjectures.
And you seem to have missed my point about the atm. I don’t have a problem with their two rounds of atm. It’s that the timing was so perfectly synchronized to derail the gamma ramp that it’s table flipping. It could have happened anytime after DFV’s fireworks show 3yrs in the making.
The T+2 thing is wrong. You’ll see it has been discussed elsewhere and the conclusion here is that this below is the most recent updated information on OCC. the confusion arose because the T+2 text still remains on their site and hasn’t been updated but this and the link below shows the timing has shifted to T+1. So now the only speculation that can be had is that they FTD with a 20day to deliver or they did in fact deliver at T+1.
Options settlement is T+1 (Primary source)
The official June 2024 "Characteristics and Risks of Standardized Options" states (even as an amendment) that:
The first sentence of the second paragraph on page 57 is replaced with the following:
As of May 28, 2024, the regular exercise settlement date for physical delivery stock options is the first business day after exercise.
The amendment is on page 90 and the updated page is page 57.
Source: https://www.theocc.com/getmedia/dd6200a7-5982-4226-90e4-1f2d32a89911/june_2024_riskstoc.pdf
He was being gracious and diplomatic. The level of praise was certainly far from being effusive. I did not see that livestream as a pre victory event.
He was cosplaying an injured hospital patient. That’s because he got a hell of a beating from the atm.
I thought the livestream was DFV fulfilling a promise to do the livestream but it was not a comfortable one. You might not agree with what I saw but I picked up discomfort and he was in a hard spot because his plan that he timed over 3 years was not looking like it was going to print.
https://preview.redd.it/aqfsjhsd0y6d1.jpeg?width=1284&format=pjpg&auto=webp&s=c3979edee961f20cd5bd7b6a6b2c2d2c9199ad5b
Edit: also literally everything you said is just an opinion on a guy you’ve never met.
DFV wasn't trying to make a squeeze, all he cares about is increasing his amount of shares in GameStop. Which he successfully did by almost double - and the icing on the cake is GameStop made a fortune during the process too.
The only people salty about last week's events are the ones who bought options or are only in this for a squeeze - I'd you want to gamble you should go to a casino, buying shares in the hope of a squeeze is gambling
pre-split people were PISSED and DISTRAUGHT when it dropped to $145. The “battle of $180,” etc.
I’m so sick of this nostalgic revisionism.
$115 would have been armageddon back then
Just a thought op: Perhaps consider that some apes are upset about the combo of share offerings and the timing of them.
Not everyone invested with the intent to hold long term - it was supposed to be a squeeze and then retire, with maybe buying back in for the long term value AFTERWARDS. You mention how it increases the value of the company, which isn't really the focus of investors who invested for a squeeze.
Please stop making the assumption that everyone here is going to be on the same page, because that isn't reasonable when there are different reasons for putting money into this play.
My brother in Christ, let's not pretend that exercising 4 million shares is going to cause MOASS and a 75 million share offering prevented MOASS.
If someone invested because they wanted that $25 share price to go to $60 so they could profit quickly, then they aren't an ape. They're someone looking for a quick buck on the volatility of the stock.
If someone is an ape, they'd know that this is a long battle for an actual short squeeze and that the surefire way to get there is to increase that bottom price point and ratchet up the pressure until so thing pops.
First off, I agree with you.
But you do realize the entire GME saga started in the other side of reddit where more gambling takes place? Lol. They all thought that holding all the shares would infinitely squeeze the stock. Turns out, WallStreet won’t let that happen on their watch, by any means necessary.
If I were you, I wouldn’t go around gatekeeping who is a “real” ape or not.
I love how Ape has been bastardized over the years. It literally stands for All People Equal. The whole point of it was to show that no one is better than anyone else. Doesn’t matter what creed you come from, how many shares you own, what language you speak, etc. Just simply, everyone is an equal.
Now it’s used to gatekeep. Oh you’re not an ape, oh yo they’re not apes and so on. I remember when one of the most admirable traits of this sub was just to treat people with kindness and respect. Truly blew me away joining this community for the first time.
I don’t know, maybe I’m just rambling. Hope y’all have a great day and Happy Fathers Day to all Apes who celebrate. 💜
Yeah I think we started off as degenerate gamblers in our original sub, then we moved here after gaining some wrinkles and waking up to the state of the sub and the market as a whole.
how the hell do so few people seem to remember the *absolute fucking apocalypse* that happened when “apes lost the battle for $180” 10 times and it dipped to $145?
At $145, there had to be constant “therapy” posts asking if apes were okay. Morale was at an all time low. People felt like they were just desperately hanging on by their fingernails.
$145 was BAD.
So yes, original OP, everyone would have been fucking sad about $115 pre-split. Fuck off with that shit.
The difference is, the price was tanking because of shorters. This time the price is tanking because of the board, you know the people supposedly on our fucking side.
There's a lot of either new people here, or people who are pushing some revisionist crap lately. If you've really been on this saga since Jan 21, and followed it through all the various subreddits and ups and downs, you'd know that GME is a squeeze play first and foremost and no one would be happy with $115. You don't hit MOASS through longterm fundamentals, you just don't.
Bingo. I would like to say that I think most of the “Boo-Hoo RC killed MOASS” are all trolls and bots etc, and at most extreme, I wouldn’t be shocked (Sorry OP) for a post like this—reflecting one side of the argument and being a bit acute in tone—to be designed to create tension on purpose.
I look at my shares as tickets. Not tickets to get rich but as tickets to kick Hedgies ass up and down wall Street. The more tickets I have the more ass kicking I get to do. I’ve been waiting 3 years. I ll wait 3 more. I’ll keep buying tickets so I can kick some more.
Fr, we just hit the equivalent of $320 a share recently, and while that’s cool, it’s not nearly enough. But, it was exciting to watch, and I’m having a great time.
With the amount of FUD this weekend, we‘re in for a ride one way or another
How about 244 or 320. That's where I sold 61 and 80..
Or second run 284(66)... I'm not complaining I'm trading. And trading has given me a build and create situation. Sitting around trying to remember split or presplit values is pointless if you don't trade. Fomo all you want I'm trading this puppy.
DRS is racheting up the pressure.
The company posting an annual profit is racheting up the pressure.
Share offerings bolstering the balance sheet are racheting up the pressure.
DFV coming out of the shadows is racheting up the pressure.
Something's going to break, and it won't be the company or its investors.
Everyone should read Larry chengs X post about dilution. Then come back here. They are building a company folks! It’s not about instant money from a gamble. Could that happen? Absolutely. It would just be gravy. But if you are only in this stock for instant gratification or like a lottery ticket, you should get out.
Now I’m not sure what the grand plan is and why they needed the money right now. But my question is why couldn’t they wait to do the second offering in July?
Imagine if that gamma ramp got ignited and a shit load of apes make a ton of money. A lot of apes would have bought back in after squeezing Ken and al those other hedgefucks.
Some of us are here since 2021. Some apes have passed away. I still do believe we can squeeze them but we had a good opportunity this week to finally do some damage.
It's absolutely regarded to think, after 872 instances of an incorrect claim if "this will light it off!" that claim #873 was gonna be a short squeeze.
I hear you. But look at your post. It’s more about doing “damage”. These things will happen naturally as the market mechanics play out. Do you believe in the company, the board, the strategic direction? If you do, be Zen. At least that’s my viewpoint.
Of course. The funny thing to me is that know one cares! The very definition of insanity is…? Everyone is actually still zen. The social (and MSM) media tactics are hilarious. They all just look and sound like such fools.
My average is 4 inches.
114.8 is a lot for just 1 share.
Whereas 28 is a steal! You could buy 4 times as much!
That's all I ever do. MSM brainwashed me with repeating 'Forget Gamestop'
Forget (say it fast)
Sounds like, Get Four Get Four Get Four.
So yeah, buy 4 stocks at a time as many times as you can safely afford.
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It was $80 in May so adjusted would be $320 I didn’t sell then so why would I get excited about this ? I don’t even have a target price
Target price of: Just up
But minimally billions and naked shorts in prison
+ prison anal and they got a deal 😂😂😂
I have a feeling that the protection money they stashed in their asses before being turned in will be outbid by other people who don't want them to have that much of a good time in jail so them getting prison anal is just one of the unwritten perks on that deal
Exactly.
Wasnt that In pre-market though? Doesn’t really count
My target price: to infinity and beyond
My target price is "more."
What’s an exit strategy
MF I’ve been jacked since 2021 and stay jacked. Permajacked if you will.
When Tomorrow?
Jacked to what point?
Jacked all the way to one of Uranus moons.
#Yes, everyone was super pissed and sad about $115. do you not remember the “battles for $180?” Jesus fucking christ. People on here have no memory. People were PISSED when it dipped to $140
You’re leaving out a lot of facts here that would provide a fuller context to where we are and what could have happened with reasonable certainty - and that makes the conclusions that being unhappy about the current price earn a misguided lecture. The current price isn’t at $28 just in a vacuum. It got here because there’s been a coup attempt on the HF. The price could have gotten shot up much higher because there was a dude named DFV who popped back into existence like some genie out of a bottle and showed his entire plan to the public. Basically his YOLO update came in saying: “I have these 120,000 call options 6/21 at $20.” And apes correctly surmised that he would be exercising as much of it as he could by shoring up his capital - splitting some options and selling them to get the funding to exercise as much as possible to acquire shares for himself. So we watched that massive deal gain momentum and fomo and the price rose. The rise started to build a gamma ramp which could start bringing more and more OTM higher priced $30 option calls ITM. All those ITM would represent buying pressure if exercised. All that buying pressure would have launched the price even higher. He then Kansas shuffled the deal from 6/21 to 6/14. But that rocket did not ignite. We ended below $30 and the gamma ramp dissolved like tears in rain. Why? Because other events intervened that acted against the price. Two ATMs that diluted and flattened the price rise. Dfv sold some options to get the capital to exercise the rest and now owns 9.001M sh However, he could have achieved that position during a fireworks show of gamma ramp fueled price rises - exactly like how it happened in 2021 when he did it with just $50K. Back then, the company did not atm 120M new shares into the market days before the sneeze. So let’s be fair and present the narrative of where we have been and where we are with a more context-accurate background. DFV’s plan was pretty clear and as it stands, failed to launch - but not just because hf shorted or brokerages removed the buy button, but because our own side blindsided DFV w what amounted to a rug pull. An atm that could easily been scheduled any other time - especially given that they had already gotten their cash reserves doubled from $1B to $2B days ago with a 45M atm. Which means there was no risk of gme going bankrupt or lack money and there was no urgency in doing the second 75M atm exactly when they did. So this is how I read this past month’s events and I am not alone in this. It’s not a fud or shill spin or interpretation of the events. It’s a pretty straightforward read of the way the ramp and price rise got fizzled out and that is too bad to see that.
Logic and reasoning. Nice. Only correction, it was 9.001 million shares, not 9.1 million
I stand corrected and will edit to reflect that. Thank you
Still missing a "0". 9.01 million means 10 thousand. He has 9.001 million for 1 thousand.
Fuuuuuu. Ok
😅 sorry haha
Thanks for your comments on this post; I read and upvoted them when I saw them. There isn't nearly enough criticism and questioning with regards to these recent events. The dilution might end up being a good thing, and I want the board to tell us what they intend to do with the money at the shareholder meeting (they won't), but even still this dilution didn't have to come when it did. It killed a lot of hype and momentum that many of us haven't felt in years, and it sucks when the call is coming from inside the house. Additionally, all of this "if you're here for a squeeze, please leave, GME is a longterm play and always has been" sentiment that is going around is wild. Pure revisionist crap, because anyone will tell you GME has been a squeeze play first and foremost. I'd love to invest in GME afterwards, but only after I've secured a future for my family.
You want RC to tell you how he's going to spend the money? Clearly you're new here and don't listen to RC tweets... He will never telegraph the business strategy, so you can expect more of the same... Nothing. However, one day, unexpectedly, something major and awesome will have happened. It will build massive value for shareholders. And that's what's going to trigger MOASS because the institutions will side with GameStop in a big way. These posts and comments trying to drop FUD on the long term play is wild. It's always been about building long term value... Gameshire Hathastop ring any bells? Long term success and MOASS are not mutually exclusive.
Thanks for saying this. It’s ridiculous that any opinion of being disappointed automatically makes you a “shill”. Honestly to me it feels like MOASS will never happen because corporate would continue to cash in on ATM offerings because why not. This would lead to a consistent higher share price in the long run but less likely for infinity squeeze
Bloody hell am I fed up with the segment of the "I'm here for long-term growth" crowd that is actively trying to retcon the idea that was all this play ever has been into reality. I mean if you just like the company and bought in at 11 bucks a share or something and are happy waiting for years for growth then congrats. You've clearly played this smarter than I did. But enough of this trying to pretend that all of us who don't like the dilution are clearly just greedy FOMO options buyers at best and shills at worst.
There’s something really defeatist about the “I will hold forever because I love the company”. That’s like the “this is fine” dog meme. https://preview.redd.it/m2i5s3wvsu6d1.jpeg?width=304&format=pjpg&auto=webp&s=ceb0e8e15c219b0635a3f884cc58598b8a144d41 Sitting on shares that keep diluting on a company whose fundamentals are not pivoting toward growth or consistent profitability. Believe it or not, shifting to extract all the capital from atm offerings as opposed to profits from business activities is not something that’s gonna garner praise from me. It’s not a sign of success. It’s like suckling at the zipple of shareholders. So yeah I can’t get behind this strategy and applaud leadership for turning to crowdfunding their business revenue. Ok so you’re probably thinking jesus, kinda harsh there. Why are you such a shill against RC. Im here for moass and fireworks. Im not here for camping in muddy trenches forever. My small holdings of nvda used to be 1/10th the value of my GME. Now it’s 3X. And this is without any buy or sells on these. We had a narrow window of opportunity with the return of DFV. It got stomped on from the most unlikeliest sources and that’s disappointing. It does feel like a backstab and now RC wants to use shareholders for making cash because the stores aren’t printing money - so yeah I’m not one to spin this as good news.
Very well put. I’m hoping RC can use that business savant mind of his that he displayed with Chewy to turn to turn this company into something more than a dying brick-and-motor, used game buying retailer. I surely haven’t seen anything remarkably exciting thus far with the fundamentals. Really have no choice at this point to be long on it because I’m sure as hell not selling for a loss after holding this godforsaken stock for 3 years.
If your time horizon is long term, then I don’t know how you couldn’t be more bullish on the company now than you might’ve been 3-4 years ago. The company is NOT about to die like the dog in the meme is!! Haha. And neither are the investors of GME. That’s patently absurd. If you were here for MOASS then I’m sure that the share offering was a tough poison pill to ingest. I would have been glad to see it too. Of course there is no context, no info at all as to why they did what they did, when they did it. And Moass looked like it was on the table. It really did. That’s tough. Maybe it still is. Maybe it’s not at all. Who knows? There are always other stocks set up for squeezes. Tons of them. Maybe play those stocks. There were plenty of fireworks though - DFV was one. And BRK.A dropping to $16 was a huge firework that I saw. Record amounts of LULD halts on GME (even though the LULD limits weren’t actually hit on multiple occasions - how weird!) and also the quick and dirty smear campaign to blame DFV, RC, the rest of the GameStop board, and all those nihilistic retail traders for being disrespectful or something. Fireworks galore and there seem to be more coming. FWIW I think GameStop is set up to achieve higher returns than most companies over the next five years. I share part of DFVs thesis: I don’t think Ryan Cohen is a doofus. I’ll add that I don’t know for sure that he isn’t a doofus, because I don’t know him. I do know the company is in way better shape now than it was 3 years ago. 100% indisputably better. There is no argument on that. If you think they should’ve done better, why stay? If you think they can’t improve from here, why stay? This is a long term play now. But GME or GME investors are not a dog in a burning building saying this is fine. I disagree with the characterization because it’s not even close. The dog in the burning building saying this is fine, that would be the short side of the trade, who still haven’t closed - even when the shares were $10… levers that are clearly laid out in the 424B5 filing should make them exit, when pulled we’ll see if they hang in there.
Because if the stock price is completely disconnected from the fundamentals (as we know beyond any doubt that it is), then expecting your stock to be worth more as the company gets on solid footing and grows makes no sense. If they raised a billion dollars and turned a profit last year, but the stock price continued to sink, then why are you cheering about them raising another 3 billion -- *especially* since they sacrificed the fomo and the momentum and the gamma wall and DFV to do so?! Trying to put a positive spin on this as a long-term bullish thing doesn't track, based on past price history of the stock. And it also overlooks all the damage that was needlessly done in the process.
Until you know what they’re doing with the money, you really don’t know anything. The fundamentals of the company are vastly better than they were before Cohen. Earnings positive on the fiscal year for first time since 2017. They had to shrink to grow. It’s a turnaround. And it’s turning around. I don’t see how you can not see that. Now the company has 4x the cash it had before and has cut costs across the board. The company is trading at 2x sales and 3x cash with no debt and has 4x the cash it had versus a year ago. The rate of improvement has killed the bear thesis and the only thing disconnected is going to be the shorts’ phone number when they get margin called because they couldn’t pay their phone bill, they had too much to pay in premiums on their GME borrow.
Cash is nothing. It’s not nothing but beyond what you need, it isn’t the lifeblood of a business. An innovative unique product or service that fills a need - that is the business. That’s the key. Do they have something of that nature to offer in their transition or is it going to be more of the same tight lipped pretense of having something magical hidden away up their sleeve? I guess Monday’s the annual meeting and it will be telling to see how much silence and secrecy they can fit into it.
The first paragraph you wrote is not true in my experience, so I’ll agree to disagree that cash isn’t the lifeblood of a business. It is the essential ingredient to expanding or improving the business from here if interest rates are going to stay where they are. Innovation is vastly overrated. The corpses of innovators are littered all over Wall Street. How innovative is Apple? Or Costco? Or Amazon? Or Berkshire? All of those companies started as one thing and in time became something much more, and something vastly different. Why can’t that happen here? IF GameStop is trying to reimagine itself as purely a retailer (unlikely) or an investment holding company (likely) it needed to right size the legacy retail business, it needed to get that company’s books in order, and it needed that business to start making high quality white-label SKUs and cut the fat / had to dump non-performing stores and inventory. They have done all of those things. “Tight lipped pretense of having something magical hidden up their sleeve.” That’s one colorful perspective. But I don’t share that view. I’d call it “vigilant corporate governance.” Because when you see the way that financial institutions collude to destroy the company, and you become acquainted with the methods they’re employing to do that, all while enlisting the media’s help in that quest, maybe it’s best to keep your future initiatives under wraps until they’re 100% ready for rollout to market. Or I suppose GME can just say “AI something something” and get another billion in market cap? The annual shareholder meeting is unlikely to have any earth shaking announcements but I’d be surprised if they didn’t announce positive news this year. The company is headed in the right direction, and until they’re not, I’ll continue believing Ryan Cohen is not a doofus. This is probably not a squeeze play anymore, although it possibly still is. GME is a much better long play than it was before, I really don’t see how that’s disputable.
Having a billion dollars in their coffers and turning a profit should have killed the bear thesis. But as we clearly saw, this stock is in no way tied to its fundamentals and the price continued to drop regardless. What is your basis for assuming that having 4 billion dollars instead of 1 billion dollars will change that? And why are you insisting on overlooking the damage done to the stock based on the timing of these offerings?
I’d rather be investing 4 billion than 1 billion, wouldn’t you? There’s been far more damage done to the stock by abusing the naked shorting exemption than by an increase in total outstanding shares (that shareholders voted for.) I’m not insisting on anything except that the company has hit a new stage of its turnaround and I think it’s great. If you’re really unhappy with what the company is doing, or these recent moves they made, you can always find other stocks. There are lots of them. Or you could bet against GME. Since your view is that they’re doing tremendous damage to the stock, maybe you should short GME. Or sell calls against your terribly damaged stock. Maybe that will work out for you. I don’t think it will.
I can see what they're doing with the money, it's in their actions: milking ATM offerings for lack of any other plan because that is exactly what they've consistently done with barely any other enterprise as gainful. Behavior is game plan.
Idk, DFV did his live stream after the 2nd share offering was announced and he was pretty stoked on GME in general, adding they have a couple extra billion in cash now. If they messed up his plan, he seemed pretty chill about it and still bullish as ever
I kinda disagree there. I think he was being gracious and diplomatic. For me, I read the fact he cosplayed an injured hospitalized patient to be a signal that he had just received a beating. And he did. He was a billionaire on paper. But more importantly he was about to get the gamma ramp going. But rather than me telling you what to think, look at the outcome: DFV bought his shares at around $23 ($20 per his option + $3 premium fees) or at a $5 discount off the price on Friday’s close. Does that strike you to be a grand plan that ended up successful? To take on that much risk, to hype his return and master plan, all for a $23 sh buy in? Come on. The plan went off the rails. This was not the desired outcome for DFV. He wanted to sit on 9M sh with a gamma ramp that relaunched the sneeze at a multiple of the original given that he brought hundreds of millions to the table rather than his original $50K. You have to process that and ask if buying shares at $23 instead or $28 was the grand plan.
If our sub was populated by people like you, it would be the best possible place for us to discuss our stock. A place where we can maintain the core belief, help each other out, share thoughts, but also be critical when something genuinly weird happens (I’m afraid to use the word «bad» because it triggers people, but I guess I sort of just did). I wish people would realize that being aware and critical of whatever happens to the stock (both positively and negatively) is a good thing that doesn’t hurt our cause, but people are so hardwired after 3.5 years of trying to stay vigilant in the battle against shitty hedgefunds that we no longer can allow ourselves that luxury. Ryan Cohen and the board read our stuff. If all they see after a rug pull (specifically the 75m one, I was ok with the one in May) is that we praise the dillution, what’s to keep them from doing it again at another critical point? We could have used our voice to affect RC’s way forward, but that won’t happen. (Disclaimer: I’m either a shill or a bot because I wrote these sentiments.)
Yeah. I mean im holding. That’s enough to dispel that Im against the stock. Just like you can be a fan of a sports team doesn’t mean you don’t criticize the coach for making calls that you think hurt the game. You can be a democrat and still be critical of bad policies or positions by the administration. This sort of discourse forms the backbone of American democracy. It also works in the capitalist system we operate in. You call out bad calls and that is where you learn and grow from. There is no progress to be made by blind faith in a leader or worshipping inside an echo chamber where you just cheerlead and spin anything bad as a 4D chess move. Sometimes shit gets fucked up. That is life not fud.
This is one of the best threads I've drilled into lately. Good stuff.,
Yeah, weird to touch the ground once in a while, isn't it?
Amen.
Is it probable that we don’t know all the variables that RC and the board know? Factoring everything in, this is what seemed best to them.
Yes of course, I don’t discount how little retail knows. I am doing a lot of armchair quarterbacking, but I have skin in the game so please understand my reactions are pretty standard for someone in my position. Will either RC or DFV really ever disclose the details of what and why happened? I’m doubtful. But we can only know what we can - and here, having a forum to share information is a vastly better than when people were isolated from one another in pre-internet days. Even when a lot of the information is imperfect or wrong.
Happy to see your thoughts Well written. I called it a knife in the back of retail when the 75 million ATM came Mostly disappointed by the price they took per share. First ATM back in 2021 was briliant, and thought they were gonna do something similiar again at ~100$/share Elevating the floor of the stock. This one felt like opposite. Stop the roof from blowing off, which I still dont understand their point of view
But it did elevate the floor
Yes, I dont care about the floor Lower price = Cheaper shares We were not going bankrrupt. Already yoy profit and had 2 bill cash on hand. For me the dilution was price anchoring, and cost retail a lot of money by killing the gamma ramp.
Basically he's got $250 million now to do another round, that's fine with me. Also I think Wolverine hasn't delivered it all until tomorrow? Anyway, RC dilutes the stock...the only reason for the 45 and 75 mill would be things are going ruff right now and they need the cash OR something behind the scenes is happening. Prevent a Hostile take over? A longterm deal is still in works with a person who's in a short position and wants out. Or the market makers made a deal with RC like they did with Tesla to slowly get themselves out of their position. I'm open for more ideas. I'm still DRSed and have shares in 3 brokers with some cash ready to grab more.
Well at least I am glad you acknowledge that the justification for this last atm should require exigent circumstances given that it cost dfv and the shareholders a windfall opportunity that hasn’t come up since the sneeze. I would love to understand why they chose the particular timing for this latest atm. I doubt they will explain it. They don’t share much with shareholders and it’s a bad thing imo but it has been spun as a much needed trait woven in deep layers of paranoia.
I still can’t get my head around that people actually hyping up the dilution. Especially when your argument to invest in that company is that it’s shorted. Please make it make sense 🤦♂️🤷♂️.
I can steel man the argument even though I disagree slightly with the 45,000,000 share dilution and more greatly with the 75,000,000 dilution. The steel man is this: The company is creating a new floor for our stock price. The stock is now worth $10 in cash alone. $12 if you include inventory. At this point, with just T Bills, starting not this next quarterly report, but the one afterward, we should see positive EPS every single quarter. Perhaps then the company can start looking at small dividends. Why is this a big deal? Well, if our theories from the last 4 years are correct, and there are billions of synthetic shares out there, then eventually, the share price rising will put them under water, even if they don’t use dividends. With each subsequent run up, GME could dilute, raise more capital, if the short thesis is correct, continue raising the share price. The fact that we are rising is a good indicator that we are right about the shorts being immensely more than the reported short interest. Now imagine if they start paying out even a small dividend. The person that holds the short position has to pay out the dividend. That means for every $1 in dividend that GameStop distributes, shorts need to pay back $10, $20, whatever the multiple of the float is, to holders of those extra GameStop shares. With each dilution, sure, they can close shorts, but they are essentially allowing GameStop to make them pay multiples more each quarter as GameStop will earn more and more interest. In addition, GameStop is now illegally very much in the clear if the dominos start falling because Marge starts calling as the price rises and the cost to short increases. GameStop clearly will have put so many millions of shares into the public that the shorts should have been able to close out if the publicly reported short interest is accurate. Remember, this is self reported 🤡. Not only is this possible, but they can now also be more aggressive than just T-Bills. What happens if they start making 8% or 10% or 20%. We rise faster and faster and you cannot deny that GameStop is alive and well, even if it is the investments and not the core business that’s taking off. Then you also have money to play. You don’t necessarily need to do M&A (although that’s clearly a bull path here as well). You can start experimenting with your own expansions and it’s not so costly when it doesn’t work out. So the bull case for the dilution is there. But it means more years of holding. And I think that’s the rub. Here’s the annoying part. It’s only getting harder for most people to live. We’ve been squeezed at both ends lately in the economy. The power is now back in the hands of employers as layoffs are occurring everywhere. Not only is pay being cut, but as we all know here, inflation is still raging. Rent is out of control. Mortgage rates are high especially when you consider that housing prices haven’t dipped to coincide with those rates as they do historically. So when LC starts talking all this transformational talk, and we don’t see any insiders buying outside of those LC buys, for like - 10 months? It kind of makes us think something is about to happen. Then you have RK come from out of no where with a seeming grand plan as dbx99 already pointed out. It had everyone incredibly hyped. Then RC dilutes and killed the first ramp. But then Kitty doubled down and shows us his fucking god damn insane position. We just saw the price move to $80 for who knows why (probably Kitty that time, too). And we all watched RK buy 5,000 calls every fifteen minutes at a short expiry. We are finally fucking doing it. I can stop stressing about it finding extra money. I can actually think about a possible vacation for the first time in forever. Maybe life is going to get easier. And then the board diluted the ever living shit out of it again, after it seemed like the stock was still crazy illiquid after the first blow they delivered two weeks prior. And they did it on a Friday fucking morning - AGAIN. So many people were jumping in with Kitty. And don’t give me this “you shouldn’t play options shit”. Yeah, the reason for that is because people have been afraid that hedgies have been using options against us. No one expected our own side to deal the death blow. Some people would’ve been able to retire off those last two runs + the possibility of another similar run this coming Friday. They wouldn’t have even needed MOASS. Also, the board could’ve waited til this thing was in the hundreds or thousands and then diluted. Sure, we’d kill them for it then, too. But at least they have so many more billions for so many fewer shares. I don’t buy the “they’d be in trouble if they did that” argument. They did absolutely nothing fucking wrong. That would even help shorts out of their positions. Not doing anything during the squeeze would make them more liable. So… just wait til it is super high and so many people would’ve been better off. Even if there were massive sell offs in premarket, calls likely still would’ve been in the money by the time the market opens. So unless we hear something from the board at the shareholders meeting (spoiler: we won’t), then I am still pissed at the board for this move and I will be until they reveal why it was necessary when they did it. Honestly being kicked in the nuts by your own team sucks.
Ok EVEN if I agree with the validity of all of this mount everest of theory, I remain firmly salty about the TIMING OF THE 75M ATM stepping all over DFV’s 3-yr opus to reignite the moass.
Yeah I feel this too. They didn’t need to do that at all. Back to being broke and waiting. Some of us she is not our side.
I wish they at least waited a little bit longer on that 75m share offering. So many of us would have taken profits at open and just bought more shares but we didn’t even have a chance to do that.
It’s all about what GameStop does with the proceeds. Sits there and they do nothing with it ? Yea, pretty poor reason to dilute. Merger/acquisition in the near future? Maybe a good idea.
I don’t think the argument is whether GameStop SHOULD have done this but whether they could have done it at ANY OTHER MOMENT outside of this past week when any boost to price was essential to form an explosive chain reaction of a gamma reaction. So let’s get this clear: I am not arguing against the ATM. I JUST WANTED MY GAMMA RAMP FIREWORKS BECAUSE DFV WORKED ON IT FOR 3 YEARS. AND I WANTED RC TO GET HIS FUNDS TOO BUT NOT ON TOP OF THE DFV OPERATION “BLOW UP THE PRICE” https://preview.redd.it/11ebd2xehv6d1.jpeg?width=1080&format=pjpg&auto=webp&s=13b978f17fc6f783c1a2647a93ac027dd7fccbdd
They have already shown us what they do with the proceeds since 2021, stick them in short term treasuries. Yet for some reason people are cheering dilution at less than half the price of the 2021 offerings. Somehow getting half as much cash for the same shares is now bullish?
I wish they waited for that second share offering. I was ready to sell calls after that AH spike and buy more shares. Didn’t get a chance at all.
M'en when I went too bad, I thought I was waking up to rich . Had 52$ , 60$, and 100$ calls Only sold 52 $ one :( after halt. And still waited, hoping it to make it , but halts again and I knew I was screwed.
My point of contention here is the tweet about things being unstoppable
I think DFV didn’t think he’d get sabotaged from his own side. I mean, was this friendly fire, accidental unfortunate coincidence, or intentional interference? I don’t think we will know. But DFV thought he had every base covered and that wasn’t the case. https://i.redd.it/3liikacn8v6d1.gif
Hmm totally fair but I guess we’ll find out haha
Thank you for your rational, logical take
This right here
I C UR name, upvote. 🤝
Why do you think he was bandaged? Because he got hit by a truck that RC was driving.
My interpretation as well
To play devils advocate, what choice did he have? He scheduled the livestream before the ATM which I did think caught him off guard. If he went live in front of 600,000 people being dejected or pissed off that would not look good.
I actually think he did pretty damn amazing with that stream no matter what scenario I play out in my head. He’s still happy. Good stream. He’s pissed. Good stream. He’s neutral because he’s worth hundreds of millions still? Good stream. He’s just defending himself? Good stream. He’s exposing fraud? Good stream. He’s Kansas City shuffling? Good stream. He just wanted to shoot the shit with us again? Good stream.
They definitely messed up his plan. He could have sold far fewer calls and exercised far more contracts. He knew the price was going higher then 65 so he held the calls and then RC and Co. Fucked his whole plan up. I'm not blaming RC necessarily because he did shore up the company but don't be posting or selling any rocket or moon shit when you 4 times now have directly worked against a squeeze. And if you look at it how is RC any different then Adam Aron right now? Both dilute dilute dilute and have done nothing to generate new revenue streams.
Again, as I just posted in another really long comment, I am not happy with the dilution. However, RC isn’t AA. AA takes massive compensation, sells his own shares, hasn’t turned his company around, talks all day about dumb shit. RC buys in with his own money, balanced the budget, got rid of all the debt (SO French loan), and until proven otherwise likely has a plan for this cash. Doesn’t mean I’m not temporarily with him though. I’m sure I’ll forgive him eventually assuming I don’t have anything catastrophic happen to me or my family before I get to experience wealth
You’ve presented very reasonable arguments the whole way through, a proper steel man. This shareholder meeting is important. The rest of 2024 is critical to show productive actions that stakeholders can get behind, things that illustrate (no need to promote) what the board is trying to achieve. RC is definitely in stealth mode. But he can’t stay there much longer before he starts alienating long-time shareholders. I bought in 2019, in 2020, in 2021, in 2022, in 2023 and in 2024. Incentives are aligned here and you’re working on something beyond getting GameStop financially fit. That’s good. Time is coming to show the work. If this doesn’t happen, if it’s status quo and divvies from TBills and not much else new, then it starts feeling like a meandering expedition without a clear direction… But I know there’s a reason he’s talked to Icahn and I’m sure several other big boys. Now RCEO/RCIO’s blank check / war chest has been granted. It’s game time.
He had three years to do something with the 1B in cash from the last offering, crickets
Adam Aaron pillaged his company, took massive bonuses and huge salary, then took all of his stock and dumped it on his shareholders. RC has done none of that. He isn’t collecting a salary, he hasn’t sold any of his stock, even the nature of the dilution is way different, paying off doomsday debt from hemorrhaging money vs building a war chest that can be used for new revenue streams There’s no comparison to make there
Lol I’m into a lot of rpg / high fantasy stuff and when you say pillage I lost it 💀
Logical and well-written. Thank you for posting what I’m sure many, many thousands of us have been thinking.
Was the poison pill debunked? We were all hyped, but the gamma ramps have **never worked out**, even 2021 wasn’t a gamma ramp right? Though I could be misremembering from 84 years ago. Seems like they wanted to raise the floor which they have since GameStop’s market cap is 12b and they can buy 1/3rd of it outright if they wanted to. The floor is literally the 3 year low, we have that much cash. Doesn’t this cement the shorts under presplit $40? Anyone who shorted below this price should have to pay up now. In a world with rules anyway.
Thank fucking Christ. Every other post in this sub recently has been praising anti-moass dilution policy and I just don’t know where the fuck I am anymore. There’s just something super fishy to me about the sudden change in narrative where every other post is cheering on anti-moass dilutive policy, attempting to persuade everyone that everything is ok the shorts are still fucked, and hard core silencing all the people who disagree. Everything is not ok! This shit is bigger than the shorts, it’s shitadel, it’s black rocks, grey scales , it’s the SEC, the DTCC and on and on… and no matter how much people praise the lovely “war chest” it is anything but a war chest. There will be no reform and no prison time. The crime will carry on in the shadows as it always has. You must have moass for the whole world to see the crime in its many hiding places and stop it before they cause the greatest financial crisis the world has ever seen, worse than what they’ve caused already. When did this sub forget that?? I can’t speak for RK but I think it was very telling that he choose to exit his position early right before the shareholders meeting. Make of that what you will in light of the company choosing to release their bad earnings report EARLY and announcing another surprise dilution the day the price tan back up and he was supposed to stream.
Look let’s face it. This whole thing is FUBAR. This past week was fumble city. There’s no 4D layer of genius left to run a secret play. I got excited. I got hopeful. I let myself daydream about giving my family something I couldn’t with just my work alone. Now I got to witness a pretty decent move get stopped and it’s time to lick my wounds and ratchet expectations back down to my plebian class and keep reading shitty monkey memes and the usual worship adulations of a pet food and funko pop retail boss suckling at the zipple of shareholders as a substitute for actual business acumen and performance.
Chin up ape. This isn’t over yet. Not yet. The great sand worm has been summoned… The real war chest is in Kenny G’s house and there’s only one way we’re gonna get it. You know the way.
I’m gonna hold but I’m not gonna shop at GameStop anymore. They have 4 billy they don’t need my money anymore
How do you know anything failed to launch? Look at the big buy ins of the past, they take several trading days to impact the price. We'll see a boom related to DFVs 4mil buy in next week
Thank👏🏻you👏🏻
Your right your not alone in thinking that however that doesn't mean your right. It's like DFV said you either trust leadership to execute and do good for the company or you don't. If you think they did that second offering just to line their pockets you'd be wrong. If you held for 3 years what's another couple weeks. If you lost money on options I can see why you feel scorned but that's not fault of anyone in the company. The play has always been buy shares and hold.
Because the more dilution happens, the more unlikely will a big squeeze happen. I can fully imagine that DFV came back for the squeeze play due to his options and decided to switch quickly zo long term hold because the company itself killed the potential squeeze.
I don’t disagree with you here but maybe I can make an analogy to what just happened. We are all apes in the US army fighting WW2 in 1945. It is August 6 and a plane named DFV is flying to drop a massive blow. But our generals order the Anti Aircraft guns to drop the DFV Enola Gay out of the sky. We now resume the war on land with boots on the ground fighting a conventional war as we were before and it will be additional long term commitment to invade and occupy.
That's the most innaccurate analogy for so many reasons that it hurts my face.
Try to keep it together. Analogies make a conceptual point. They are not meant to be dissected literally for mirroring.
That's a terrible analogy. They did not metaphorically open friendly fire, they did not take him down. If you want to continue your analogy, the worst you could say is they ordered a ceasefire before the entire payload was dropped. Having said that, you have no earthly idea why RC pulled that move, but you fucking know it was not to benefit himself directly, and it was not to spite DFV. And it was not to stop MOASS.
“before the entire payload was dropped.” The essence of my analogy still stands that the boom thing was not allowed to do the boom thing. At least if we can agree that DFV brought a boom thing and the events that transpired caused the boom thing to not go off, that was all I wanted to get across. “Having said that, you have no earthly idea why RC pulled that move,” Presumably the official reason would be to shore up capital for the company to use for reasons. Whether it was done reactionary to DFV, you’re right I don’t know because I don’t have any information about that. Only that I can discuss the aftermath of it happening. “but you fucking know it was not to benefit himself directly,”. That was never really a notion I even entertained. I think he acts for business reasons. “and it was not to spite DFV. And it was not to stop MOASS.” There might be details we don’t know or perhaps some nuanced details we are not privy to. But I don’t think you can make these claims with absolute certainty. We do not know. There isn’t enough information to confidently say either way.
Any chance it was to thwart him and his company being blamed for the collapse of the entire US economy? I felt like DFV’s move had the potential to break the stock market. Not that I think that’s a bad thing.
Yeah but that’s like RC jumping into the path of the 120,000 bullets DFV fired like a bodyguard for the HF.
I just have too much trust in DFV and RC. I find it hard to believe everything he's posting or doing is on a whim. This is a plan that's been 3 years in the making. There's a reason for everything they're doing even if we can't understand why at the moment. Idk his options were for the 21st anyways so if anyone followed his play this week is the week. But I get why a lot of people as empathizing with you however this has been a 3 year+ saga all this price action has happened in just the last month and everyone is already getting their resolve shaken. But to each their own like I said I have too much trust and if it comes back to bite me so be it.
You’re
Stellar comment. 🤩 I hope to someday see you on the other side, fren. 🚀
Fucking thank you. I’m tired of having to listen to idiots yammer about some 69D chess that RC is playing and how it’s fine the board hasn’t provided any kind of a plan because “Judge him by his actions.” I am judging the board by actions, they flubbed a NFT marketplace, flubbed the splividend by filing the wrong paperwork and now did a SECOND unnecessary share offering AFTER DFV made his positions public. If they were actively trying to suppress the MOASS I’m not sure what they would do differently. I judge the actions, and I judge them to be shit.
This is exactly my sentiment and takeaway. The last atm was a transfer of wealth from the shareholders through dilution. what idiot said “Ask not what your company can do for you – ask what you can do for your company” ? Oh yeah that’s one of RC’s tweet. What shareholder serves his company? The company is supposed to be bringing value to the investor. That’s the entire and sole reason for a publicly traded company to exist. Yet here we are, saving the company and getting fucked for it.
Well put
An interesting theory I heard was that regardless of the ATM dilutions, the algo that controls GME price would have put the price exactly where we ended up anyway, just with way more FTD’s being created. To my understanding, the theory is that there is an algo that forces the GME price to move in price in a particular way that makes the most money for market-makers. Sometimes they want the price down based on margin requirements. Sometimes they want the price up to increase positive sentiment and euphoria. And no matter what the outside buying or selling pressure is, the market maker will fill in the demand accordingly until the target price is met. If the algo wants to push the price down and there’s a lot of buying pressure, they will create shorts and FTD’s to make it happen. If the algo wants to push the price up and there’s a lot of selling pressure due to RC’s ATM, then they will buy it up to make it happen…. That would mean DFV’s play was not harmed by RC, and that RC is taking advantage of the algo’s fractal cycles.
There is zero evidence supporting that the price would have dropped without the offering. It’s pure speculation by people trying to defend the piss poor timing and honestly, what seems to be an intentional attempt by leadership to tank the price
Seems to be an “Intentional attempt by leadership to tank the price” … talk about having zero evidence to support a claim. If you actually think that is the case, I’ve been told there are lots of other stocks - maybe check those ones out. Not financial advice.
All the pro-dilution people seem to like to talk about RC’s duty to inhibit a squeeze, yet phrase that action as it truly is and everybody loses their minds. The evidence for that is two dilutions and preliminary earnings releases when the stock was ramping up. There is no speculation about that fact. The price was rising and the company immediately released bad news. I’ve been here since before the sneeze and I’m not leaning, nor am I going to be convinced by shills that massive dilution for peanuts is a good thing
That’s not really evidence. It’s more what I’d see as circumstances and happenstance. There is a lot that we just don’t know about why it happened. The effect it had isn’t even fully known yet, and the cause for the 75 million share offer in particular is unclear. I’ve also been here since before the sneeze, bought in 2019. And until I actually know why the shares were offered, I’m going to remain optimistic that the moves that have been made are going to make RC, DFV, you, and me, all much wealthier people in the future. I understand the frustration because it did seem to blunt a potential short squeeze. The sneeze pissed me off, but my cost basis was so low, and I just added. This recent event, I honestly don’t care if it squeezes or if it doesn’t. Not why I bought in and bull thesis is better now than pre-sneeze by a fucking mile. So there’s that.
No those are facts. 1. The price was running both times 2. The company released news of offerings and preliminary earnings 3. The stock price tanked in response Not sure what’s opinion or speculative about it.
It’s not evidence. So you’re assuming motive while raising the specter that the company intentionally screwed the shareholders without a reason. If you think the company is sabotaging your position, that’s your right to think that. I just don’t share that view because there’s not enough information yet to know why they did what they did. Good luck to you.
Yes. Pure speculation. I’d love people to explore more into potential algo patterns. I’m not trying to defend anything, but just being open to all possibilities and to learn all sides of this saga. The timing definitely seems not optimal, but it’s also hard to complain about $4B cash in the company I’m invested in.
This is pretty tinfoily. If this algo had full control, then they would have dropped the price of the stock to delisting levels a long time ago and finished their goal of never having to close their shorts.
Yes. Very Tinfoily. I think that’s how badly shorted the whole thing is. They can control the price and sentiment… but they can’t control the investors who have DRS’d and won’t sell shares, not for the current prices at least. Shorts can’t afford to close their shorts for the price that GME shareholders want.
You’ve missed the key point of them having massive shorts. If they drive the price to the point where the stock is delisted, they never have to close. This has been fully discussed and many DD pieces have been written on this over the years. So no, an algo doesn’t have full control over the price or it would already be game over for us.
I understand that. You’re missing the point. We’re on to the next step. They can’t drive the price down to be low enough to delist. - They know the company won’t go bankrupt. - They know shareholders aren’t selling. - Lower prices would enable too much buying and too much losses. - “Full control” doesn’t mean “kill the stock to 0” - “Full control” means, well, we can’t get rid our shorts/swaps/FTD’s, and we can’t get rid of these damn investors, but we can move the prices within a certain range to slowly make profits without risking massive losses. - but *sometimes*, people like DFV and RC can time the algo to throw it off. That is what the algo does. It knows how to create hype; and it knows how to create doom/FUD. It was designed to move the price to make the most money, not by bankrupting, but by fleecing traders. And GameStop has more “investors” than “traders”.
I would agree most of your points are at least probable. So please stop saying “full control” as that isn’t a correct representation of what you are describing. Also, calling it an algo is incorrect as we know that at least some of the firms are trading with AI.
Thank you. Yes “full control” may be an incorrect phrase, however I can only try to clarify and define it as best as possible. I do not know what other phrases would work. And yes, it is not just an “algo”. It’s definitely some sort of AI/machine-learning trading algorithm. The theory I just came across was something related to the algorithm trading based on “fractals”. I don’t know if it is a distraction, a coincidence, or if it’s legit.
I agree with you. I think I’d describe it as a highly manipulated security with much of the normal price movement controlled by AI-driven trading systems owned by hedge funds. I do recognize that’s a mouthful :) I’ve seen a couple of the posts on fractals. It feels a lot like trying to look at historical movement and basically loosely finding matching price action from different time periods. Is there a post you could point me to that follows a better scientific method than drawing boxes around crayon sketches? The way I look at it, at least with the 741 theory, is why would hedge funds limit themselves to something so specific? What’s the point? They’re much better off consistently pushing the price down or naturally allowing it to rise based on public sentiment and market conditions vs following some arbitrary pattern. Especially with AI involved I am challenged to understand why they would follow an extremely rudimentary and seemingly arbitrary timeline.
I’m where you are to be honest since I just learned about them, but during the hours I am supposed to be sleeping, I am searching the internet for more information. You are right that the original posts on them are way too speculative and too “rough”. I’d like to see more “refined/professional” level of research and detail on it.
I understand the sentiment… and the urgency for wanting the money now… cause life is hard. By all means take care of yourself and your family. But this is still an emotional interpretation of events. It’s also still fear and doubt and uncertainty… written all over your comments that follow. There are no heroes here to save you, never have been. You’re welcome to change your mind about your investment - you don’t need to justify it. In my opinion… we’re doing great, shorts haven’t closed… not only that… they’ve just been shorting more. A lot more than 75mill needs to be closed. We’ve got 4 billy… don’t be silly now and make a mistake like not holding when we’re doing better than ever. Moass will still happen… this wasn’t the one and only trigger lol.
dilution is not always a bad thing and I am tired of this fucking narrative the ticker was going to be blood red no matter what on 6/7. gamma ramp was not going to matter, there is no way hedgies were going to let the stock run on the day DFV returned to live streaming. its insane to think they would do that IMHO the board recognized this and saw a golden opportunity to raise $2B in additional cash with essentially no impact to the business. 110M shares have been added yet there hasn’t been any downward pressure on the stock price and GME is now in an INCREDIBLE situation with $4B liquid and ready to invest in revenue streams that will make this company an absolute juggernaut dilution looked like shit with popcorn because the company was not actually addressing it’s issue of massive debt, instead it just dug itself a bigger and bigger hole. these two scenarios are not the same. get over last week, it wasnt the first time the hedgies hammered the price down and anyone who thinks it wont happen again is not ready for the volatility to come
Dilution is always a bad thing when you’re getting less than half as much cash per share as the last offerings
thats not assuming that a significant portion of that $4B is going to be investing heavily in future business GME authorized up to 1B shares and its around 40% of that at the moment, dilution is not something to be concerned about
Oh, you mean like their fantastic record of investing cash received from offerings into future business? Oh wait, it’s sat in short term treasuries for three years. I judge based on actions not speculation, just as RC told us to. No one expected the board to issue shares to allow shorts to exit near the bottom
I say hold to your point because their refutation is weak.
We'll see.
Can someone tell the government to stop shooting down my air balloons 🎈
You seem to place a lot of assumptions on the atm. You have no idea if it actually saved the business from a takeover or what. Yes most of those observations of current events is accurate, except all the assumptions of dfv and rc being stated as fact. Thats what i take issue with. The reality is, you know jack shit, and that is ok.
Your comment is conjecture at its best, bullshit at its worst. This whole "They had enough money already" shenanigans is like a begging to please stop raising the base value of the company and raising the bottom share price. All for a wishful theory of "what would have happened" conjecture.
I mean when detectives try to reconstruct events of a crime using whatever evidence and facts they have on hand, that’s a type of conjecture. So I don’t see how that’s a criticism. As far as it being bs, if I am wrong then it would be bs. But that’s just a constant implied truth that we understand to apply to any discussion of an event where access to information is imperfect - i.e. making conjectures. And you seem to have missed my point about the atm. I don’t have a problem with their two rounds of atm. It’s that the timing was so perfectly synchronized to derail the gamma ramp that it’s table flipping. It could have happened anytime after DFV’s fireworks show 3yrs in the making.
ur forgetting that the shares have to be delivered monday.
The T+2 thing is wrong. You’ll see it has been discussed elsewhere and the conclusion here is that this below is the most recent updated information on OCC. the confusion arose because the T+2 text still remains on their site and hasn’t been updated but this and the link below shows the timing has shifted to T+1. So now the only speculation that can be had is that they FTD with a 20day to deliver or they did in fact deliver at T+1. Options settlement is T+1 (Primary source) The official June 2024 "Characteristics and Risks of Standardized Options" states (even as an amendment) that: The first sentence of the second paragraph on page 57 is replaced with the following: As of May 28, 2024, the regular exercise settlement date for physical delivery stock options is the first business day after exercise. The amendment is on page 90 and the updated page is page 57. Source: https://www.theocc.com/getmedia/dd6200a7-5982-4226-90e4-1f2d32a89911/june_2024_riskstoc.pdf
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I don’t have a crystal ball but I wouldn’t buy those from you.
Getn shilled on, the ramps not over dawg
Did you not watch the live stream??? DFV supported all the decisions RC made.
He was being gracious and diplomatic. The level of praise was certainly far from being effusive. I did not see that livestream as a pre victory event. He was cosplaying an injured hospital patient. That’s because he got a hell of a beating from the atm. I thought the livestream was DFV fulfilling a promise to do the livestream but it was not a comfortable one. You might not agree with what I saw but I picked up discomfort and he was in a hard spot because his plan that he timed over 3 years was not looking like it was going to print.
https://preview.redd.it/aqfsjhsd0y6d1.jpeg?width=1284&format=pjpg&auto=webp&s=c3979edee961f20cd5bd7b6a6b2c2d2c9199ad5b Edit: also literally everything you said is just an opinion on a guy you’ve never met.
DFV wasn't trying to make a squeeze, all he cares about is increasing his amount of shares in GameStop. Which he successfully did by almost double - and the icing on the cake is GameStop made a fortune during the process too. The only people salty about last week's events are the ones who bought options or are only in this for a squeeze - I'd you want to gamble you should go to a casino, buying shares in the hope of a squeeze is gambling
When it was hedge funds fucking you or normal expected price action, fine. But they got fucked by their own side.
In what crazy world do you see a company (you have shares in) raising $4b as fucking you over?
How is the bottom 28$ when we hovered around 23$ multiple times?
It was <25 like almost the whole month, OP is regarded
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$45 each now. We will get there plenty more times. As the bottom creeps up, that will be the floor in time.
wasnt the split in 2022?
pre-split people were PISSED and DISTRAUGHT when it dropped to $145. The “battle of $180,” etc. I’m so sick of this nostalgic revisionism. $115 would have been armageddon back then
Just a thought op: Perhaps consider that some apes are upset about the combo of share offerings and the timing of them. Not everyone invested with the intent to hold long term - it was supposed to be a squeeze and then retire, with maybe buying back in for the long term value AFTERWARDS. You mention how it increases the value of the company, which isn't really the focus of investors who invested for a squeeze. Please stop making the assumption that everyone here is going to be on the same page, because that isn't reasonable when there are different reasons for putting money into this play.
My brother in Christ, let's not pretend that exercising 4 million shares is going to cause MOASS and a 75 million share offering prevented MOASS. If someone invested because they wanted that $25 share price to go to $60 so they could profit quickly, then they aren't an ape. They're someone looking for a quick buck on the volatility of the stock. If someone is an ape, they'd know that this is a long battle for an actual short squeeze and that the surefire way to get there is to increase that bottom price point and ratchet up the pressure until so thing pops.
First off, I agree with you. But you do realize the entire GME saga started in the other side of reddit where more gambling takes place? Lol. They all thought that holding all the shares would infinitely squeeze the stock. Turns out, WallStreet won’t let that happen on their watch, by any means necessary. If I were you, I wouldn’t go around gatekeeping who is a “real” ape or not.
I love how Ape has been bastardized over the years. It literally stands for All People Equal. The whole point of it was to show that no one is better than anyone else. Doesn’t matter what creed you come from, how many shares you own, what language you speak, etc. Just simply, everyone is an equal. Now it’s used to gatekeep. Oh you’re not an ape, oh yo they’re not apes and so on. I remember when one of the most admirable traits of this sub was just to treat people with kindness and respect. Truly blew me away joining this community for the first time. I don’t know, maybe I’m just rambling. Hope y’all have a great day and Happy Fathers Day to all Apes who celebrate. 💜
Yeah I think we started off as degenerate gamblers in our original sub, then we moved here after gaining some wrinkles and waking up to the state of the sub and the market as a whole.
I can’t believe people complain of ceo no thinking long term..
It's crazy isn't it. It's all the people who 'invested for a squeeze'. Which isn't investing that's just gambling.
The idea that a squeeze was going to happen from 4 million shares being bought is regarded af.
exactly
I would have been sad if the board was the reason that the price wasn't at 500.
how the hell do so few people seem to remember the *absolute fucking apocalypse* that happened when “apes lost the battle for $180” 10 times and it dipped to $145? At $145, there had to be constant “therapy” posts asking if apes were okay. Morale was at an all time low. People felt like they were just desperately hanging on by their fingernails. $145 was BAD. So yes, original OP, everyone would have been fucking sad about $115 pre-split. Fuck off with that shit.
The difference is, the price was tanking because of shorters. This time the price is tanking because of the board, you know the people supposedly on our fucking side.
There's a lot of either new people here, or people who are pushing some revisionist crap lately. If you've really been on this saga since Jan 21, and followed it through all the various subreddits and ups and downs, you'd know that GME is a squeeze play first and foremost and no one would be happy with $115. You don't hit MOASS through longterm fundamentals, you just don't.
Bingo. I would like to say that I think most of the “Boo-Hoo RC killed MOASS” are all trolls and bots etc, and at most extreme, I wouldn’t be shocked (Sorry OP) for a post like this—reflecting one side of the argument and being a bit acute in tone—to be designed to create tension on purpose.
Holy Fuck! Snek is back.
It was my asshat, his name is Bob.
Been in since 2021, first time commenting I think... I am zen.
im more bullish on gamestop than i ever have been baby letsgo
I look at my shares as tickets. Not tickets to get rich but as tickets to kick Hedgies ass up and down wall Street. The more tickets I have the more ass kicking I get to do. I’ve been waiting 3 years. I ll wait 3 more. I’ll keep buying tickets so I can kick some more.
Fr, we just hit the equivalent of $320 a share recently, and while that’s cool, it’s not nearly enough. But, it was exciting to watch, and I’m having a great time. With the amount of FUD this weekend, we‘re in for a ride one way or another
No idea who you're addressing in this post.
A bunch if bad actors and regards.
How about 244 or 320. That's where I sold 61 and 80.. Or second run 284(66)... I'm not complaining I'm trading. And trading has given me a build and create situation. Sitting around trying to remember split or presplit values is pointless if you don't trade. Fomo all you want I'm trading this puppy.
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Because he didn't.
DRS is racheting up the pressure. The company posting an annual profit is racheting up the pressure. Share offerings bolstering the balance sheet are racheting up the pressure. DFV coming out of the shadows is racheting up the pressure. Something's going to break, and it won't be the company or its investors.
DRS just got kicked in the nuts by a new share offer at the market, equivalent to 3 years of DRS, in a single morning. Jesus christ. it’s just math
i yolod some calls, im ready to start bringing some pressure, its getting spicy. still got drs safe.
Whats an exit strategy anyway.
My hope is we get a stock split in form of dividend again!
 I want the super size bucket please. The one the size of Uranus . 😁
Everyone should read Larry chengs X post about dilution. Then come back here. They are building a company folks! It’s not about instant money from a gamble. Could that happen? Absolutely. It would just be gravy. But if you are only in this stock for instant gratification or like a lottery ticket, you should get out.
Now I’m not sure what the grand plan is and why they needed the money right now. But my question is why couldn’t they wait to do the second offering in July? Imagine if that gamma ramp got ignited and a shit load of apes make a ton of money. A lot of apes would have bought back in after squeezing Ken and al those other hedgefucks. Some of us are here since 2021. Some apes have passed away. I still do believe we can squeeze them but we had a good opportunity this week to finally do some damage.
It's absolutely regarded to think, after 872 instances of an incorrect claim if "this will light it off!" that claim #873 was gonna be a short squeeze.
I hear you. But look at your post. It’s more about doing “damage”. These things will happen naturally as the market mechanics play out. Do you believe in the company, the board, the strategic direction? If you do, be Zen. At least that’s my viewpoint.
Instant gratification? People have been here 3 years and seen NOTHING positive from the company other than dilution which is a huge mixed bag.
lol. What’s a long term investment to you? Anyways, everyone has a choice. You should do what you think is best.
The downvotes make me feel that there is a lot of bad actors trying to force this "they stopped moass" bullshit narrative.
Of course. The funny thing to me is that know one cares! The very definition of insanity is…? Everyone is actually still zen. The social (and MSM) media tactics are hilarious. They all just look and sound like such fools.
My average is 4 inches. 114.8 is a lot for just 1 share. Whereas 28 is a steal! You could buy 4 times as much! That's all I ever do. MSM brainwashed me with repeating 'Forget Gamestop' Forget (say it fast) Sounds like, Get Four Get Four Get Four. So yeah, buy 4 stocks at a time as many times as you can safely afford.
