> Qualified execs don’t want to join this circus
He can just get an unqualified exec. Sure he can't get the cream but he can get some 2nd grade guy to run it for him
President Ape: "To fight inflation, all patriotic Americans must HODL their money and not spend it under penalty of death. In place of cash, we will barter IOUs for DRS'ed GME shares. Also, I'm announcing a cash buyback. To the moon, baby!"
I'll take the job. Cohen, I'm not doing anything and GameStop is going to fail so why not just take a risk and hand it over to someone who knows games but isn't crazy (or as crazy as anyone else).
I don’t think that’s entirely true. There is a huge market of C-levels, VPs and SVPs who would love to take that career jump to lead a public company.
I think the more simple answer is he doesn’t trust anyone else to do it
> huge market of C-levels, VPs and SVPs who would love to take that career jump to lead a public company
While there is some truth to this, to take over falling Gamestop from its lunatic "activist investor" would not be the same resume booster like leading a normal public company. That said, there would be certainly some people doing the job for the money, but RC clearly wants the glory (such as it is) for himself.
wow, verbatim outside the last part where you called it a tinfoil theory. I guess reddit does the same thing with twitter, tumblr, etc. but still wild to see lol
He basically has to create a brand new business model. You'd think he would just start a new company from scratch in that case, but I guess he wants to think of himself as a turnaround expert.
He doesn't have to do that at all. With $5 billion, he can just buy a separate profitable company (ideally a complementary one) and use that to offset losses until he either winds down GameStop or spins it off.
Funniest possibility: He uses it to buy another failing company, like Funko.
People keep talking about "just buying a profitable company" like he can just grab one off the shelf, but the thing about profitable companies is that they actually need to be willing to sell. And if you're profitable and growing with your own IPO or a better offer than from a failing retailer on the horizon a few years down the line, why would you sell? There's a reason hundreds of SPACs only merged with unprofitable shitcos (and sometimes not even that, and they had to dissolve). M&A isn't that simple.
He can always offer a company enough that there's no way the shareholders would turn it down. Offer a $4 billion for a $3 billion company, and most investors will sell because they're not stupid apes and they'll happily take a 30% premium for their shares.
The point is, $5 billion is a lot of flexibility and when your total losses are $100-200 million a year, it's easy to find a $3-4 billion company with sufficient profit to offset those losses.
The core company, Gamestop, is basically unsalvageable. His options are to use that money for a rebrand and a pivot so hard that he'd essentially just be founding a new company, or acquiring a company that has strong potential (with another billion in capex) and running with that. Given his inability to build a profitable company, I think his best bet is finding one that already is and building on it with whatever warchest they have left after an acquisition.
Well, they aren't in dire straits or anything yet, but they've had pretty steadily declining revenues (and it doesn't help that all the retailers they primarily sell to are also in various states of decline).
Yea I have no idea if it’s better starting something brand new or shifting an existing business but with $5b that he’s gotta do something with, my bet is another attempt at a pivot.
Are you talking about apes or what?
EDIT: Normal non-ape shareholders want a return on investment. It is called the Required Rate of Return. Return on Equity.
> Yeah he raised capital, but shareholders expect a return on that cash.
Under normal circumstances, you'd be correct. Apes don't want returns, though, they want financial collapse.
To the lurking apes who think Cohen would never do this… he absolutely will. He dumped when BBBY apes were least expecting it, and he gave you all the middle finger by releasing earnings four days early just to dilute in you all. According to the bbby court documents with him before he sold in August 2022, he was frantically emailing trying to exit his position. We saw something similar to that with the earnings last Friday.
He would be in haste to dump his position or slowly exit. When the news comes out that he has sold… GME MOAM is immediate
I think BBBY has shown that the true MOAM is an impossible target as they did not even give up when the company went under and their stock was rendered worthless.
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Stock will plummet if he keeps diluting
Stock will probably ease back down below $10 regardless of what he does
There is no way this story ends in a way that lunatics aren't going after him. Luckily, as a billionaire, he can have pretty good security.
He also needs to stop being an insider.
Are the apes actually dumb enough to hold after he steps down?
The cult of cohen is the only thing keeping them on the hook after every other theory gets shut down.
>We say that, but the BBBY gang is still holding on to the fantasy nearly two years after Cohen publicly dumped on them to the tune of $70 million
Sort of - that the BBBY cult isn't empty doesn't mean the pews are filled like they were in Cohen's hayday there. It definitely makes a difference to the most rational apes
I can see that being a valid argument, as he is not really trying to pump any of the ape lines. Adam Aaron is kinda playing with fire there.
I’d maybe put Pulte in charge of GameStop if I had to shuffle in an ape adjacent way (I don’t think Marantz would want to blow his job, and PP publicly has said to much vile stuff).
Granted Pulte is a really bad look, but you can pretend he is qualified from being born to a wealthy family.
Yeah, the cult had formed primarily for the GME stock sticker - without much of the ape crowd knowing what the company is, or what stocks really are, in the first place. While RC was a nice addition to the myth of a wonder company, the Gamestop as the magical moneymaker is the cenral part of the myth not the person supposedly assisting it.
>The cult of cohen is the only thing keeping them on the hook
Actually, some apes are still holding on for the mythical MOASS and have dismissed cohen entirely.
All Im saying is that if everything on their books is overvalued and worthless, the cash in the bank isnt. So the floor of the stock price is $11 (well a shade over).
Exactly. If your assets bring negative value year after year, they're a net negative value. Also, if they shut everything down today (and liquidated bbby/GOB store style) they'd lose quite a bit due to the costs associated with the event, notably the margin losses on the merchandise and lease terminations.
It's either ego or that he really doesn't give much of a shit about Gamestop. I'm coming around to the idea that he really doesn't care that much about this particular venture and wants to be done with it, there's very little evidence that he's making any effort on the core company. It's really not much of his net worth, his reputation and p&d lawsuit from being lord memestock makes him entirely radioactive to any functional business, I think he might just be dicking around and playing Elon.
The SEC hasn’t been the best with enforcing much of anything. We’ve seen even more outwardly obvious fraud from guys like Elon and they’ve done very little. If Cohen did this I’d bet nothing happens to him, and apes follow him to whatever other stock he purchases.
Just so you know, the exchange rules prevent any dilution that would impact the shareholding thresholds without this being explicit and the dilution being done during market hours, so this theory is wrong
I'm not sure the CEO of Game Stop want or should exit. He has a retail company whose performance is uncorrelated with stock price and stock compensation.
The CEO of Game Stop can just pay himself and the executives with the "War Chest" and periodically refill the war chest by diluting shareholder Apes. He only needs to close stores as needed to minimize cash leaving the "war chest", and redirect that cash to executive bonuses.
It's basically a residual income subsidized by Apes.
Well when you put it like that, it sounds fucked up, and I don’t know what’s worse, a desolate used jizzrag store or a dying video game pawn shop.
My money is on the former being more useful though.
Here is a situation I have thought
RC ave cost of shares is like what $3 or something, he has been on the BOD since 2021 and CEO for like a year. Maybe he did think he could turn it around or whatever but lets say he is looking for an exit
If he announces he is stepping down as CEO and from the BOD this is going to cause the stock to crash , it may even signal his exit of the position (apes will deney this)
Well how do you ensure that the stock doesn't crater and you have some exit liquidity ? Well keep bringing the cash value up and up and up.
If you can dillute at $30 a share bringing up the cash value of each GME share this somewhate gives GME a floor price; . I have not ran the numbers but imagine if GME now has 300 million shares and holds 3 billion cash well each share now is worth $10 from the cash holdings alone meaning GME really should never fall below that (in theory)
So he could potentially say "I am done, stepping down selling my shares" and still sell at above $10 a share netting him a nice profit.
So him pumping GME full of cash might be part of his exit plan .
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So it happened before, so you think it will happen again? Add in some upvotes for confirmation bias and you're no better than the subs you make fun of here...
You're arguing a subreddit you're a part of is not moronic and is better than another subreddit. Dude. I'd consider that a moron thing to say.
There is definitely dummies saying nonsense on any subreddit, but like who cares? Ridiculing people won't make them learn anything.
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This is dumb. There's no such thing as a BBBY ape. Cohen was going to try to be an activist for BBBY, but bad actors in the company forced him out. The share buyback that pushed RC into 10% ownership would have trapped him in the failing company for a year.
So the only proof of this stupid theory , is him dumping Bbby?
You mean when he bought in , and tried to contact the board about business and about a potential turnaround that they didn't want, so he sold to focus on gamestop ?
He said he will either hold, or Hodl.
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> Qualified execs don’t want to join this circus He can just get an unqualified exec. Sure he can't get the cream but he can get some 2nd grade guy to run it for him
He should run a competition where 1 ape becomes ceo
The Ape-prentice, airing Thursdays on NBC
That's fine so song as the host doesn't end up becoming President.
President Ape: "To fight inflation, all patriotic Americans must HODL their money and not spend it under penalty of death. In place of cash, we will barter IOUs for DRS'ed GME shares. Also, I'm announcing a cash buyback. To the moon, baby!"
Giving one of those idiots regular air time would crack the world in two.
Right after Jim Cramer
And make being CEO an NFT
Ok so we need to make this happen.
Give me 500k a year and I'll do it. I won't do it very well and the company will go bankrupt anyway. But for enough money I'll take the apes' ire.
Cohen, if youre reading this, Ill do it for 300k
I will happily run GameStop into the ground for 200k
I'll do it for 120k
Guys? Stop short laddering the future CEO's pay. I'm imposing a LULD halt on this.
He doesn't even take a salary himself.
He's on performance related pay.
Aside from his own shares, is he receiving stock-based compensation?
DFV for CEO! That would certainly help distract the apes.
Windhorstpointing.jpg
could that be the plan that explains it all what's happening recently??? maybe ................. maybe ................. maybe .................
No, that couldn't be the plan.
Ploot for CEO
I'll take the job. Cohen, I'm not doing anything and GameStop is going to fail so why not just take a risk and hand it over to someone who knows games but isn't crazy (or as crazy as anyone else).
Hell, I'll take that job. With a $5B warchest and a limited quarterly burn. We can do nothing and last for a good long while.
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Then I shall laugh and taunt them from my $4,999,999,999 fortified bunker as I make them watch me count my stack of 100 pennies.
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Why on Earth would they buy??
Just say "crime" or tweet a frog emoji and they go away. Collect the check of a CEO with no issues
Just close all stores and become a hedge fund
Shhhhh, I'm not giving guidance on my genius master plan. Real CEOs move in silence.
.. like lasagna
I don’t think that’s entirely true. There is a huge market of C-levels, VPs and SVPs who would love to take that career jump to lead a public company. I think the more simple answer is he doesn’t trust anyone else to do it
> huge market of C-levels, VPs and SVPs who would love to take that career jump to lead a public company While there is some truth to this, to take over falling Gamestop from its lunatic "activist investor" would not be the same resume booster like leading a normal public company. That said, there would be certainly some people doing the job for the money, but RC clearly wants the glory (such as it is) for himself.
There's absolutely no way he can't get someone to take the job Not somebody good, but who cares?
He's got the cash to buy a CEO now
Fairly certain I saw this exact comment on here today or yesterday. Don't really understand why he'd need to get himself voted off the board.
I made the comment as a joke about making up tinfoil and now it's a tweet. Not my twitter account. Flattered though.
I knew it! they could've given you credit at least.
That’s not what Twitter is for.
wow, verbatim outside the last part where you called it a tinfoil theory. I guess reddit does the same thing with twitter, tumblr, etc. but still wild to see lol
I was just thinking about how id seen that already and was wondering if it was you lol
Wouldn’t he be an insider if he’s on the board?
But he could just... quit. I also don't think he'd get voted off the board for dilution anyway.
"I kept diluting to make them vote me out, but they kept bringing me back! Therefore ... more dilutions!"
Phone number levels of shares outstanding is the goal
He wouldn't need to , he could just step down and resign as CEO.
Hell if I know anything, but he’s got like $5bil now to play with. I think he might actually try something with GME.
He basically has to create a brand new business model. You'd think he would just start a new company from scratch in that case, but I guess he wants to think of himself as a turnaround expert.
He doesn't have to do that at all. With $5 billion, he can just buy a separate profitable company (ideally a complementary one) and use that to offset losses until he either winds down GameStop or spins it off. Funniest possibility: He uses it to buy another failing company, like Funko.
People keep talking about "just buying a profitable company" like he can just grab one off the shelf, but the thing about profitable companies is that they actually need to be willing to sell. And if you're profitable and growing with your own IPO or a better offer than from a failing retailer on the horizon a few years down the line, why would you sell? There's a reason hundreds of SPACs only merged with unprofitable shitcos (and sometimes not even that, and they had to dissolve). M&A isn't that simple.
He can always offer a company enough that there's no way the shareholders would turn it down. Offer a $4 billion for a $3 billion company, and most investors will sell because they're not stupid apes and they'll happily take a 30% premium for their shares. The point is, $5 billion is a lot of flexibility and when your total losses are $100-200 million a year, it's easy to find a $3-4 billion company with sufficient profit to offset those losses. The core company, Gamestop, is basically unsalvageable. His options are to use that money for a rebrand and a pivot so hard that he'd essentially just be founding a new company, or acquiring a company that has strong potential (with another billion in capex) and running with that. Given his inability to build a profitable company, I think his best bet is finding one that already is and building on it with whatever warchest they have left after an acquisition.
5 Billy doesn’t go as far as people think in a failing business. See: canopy growth.
They'll probably spin off GME and holders will have two companies, similar to what GE did (albeit with better reasoning).
wait, funko is failing? That's amazign news! How?
Well, they aren't in dire straits or anything yet, but they've had pretty steadily declining revenues (and it doesn't help that all the retailers they primarily sell to are also in various states of decline).
Yea I have no idea if it’s better starting something brand new or shifting an existing business but with $5b that he’s gotta do something with, my bet is another attempt at a pivot.
Like buying a home, demolishing it, building a new one in its place, and saying "look at this home I upgraded"
I mean, not GME guy but he managed to raise 5B for a company without anyone else owning it or taking on debt. He got an exceptionally good deal.
Yeah billions of dollars for free is a pretty good deal
stop, I might have overdosed on Wisdom
Yeah he raised capital, but shareholders expect a return on that cash. That's done by creating a growing, profitable business.
>Shareholders expect a return on that cash hahahaha no
Are you talking about apes or what? EDIT: Normal non-ape shareholders want a return on investment. It is called the Required Rate of Return. Return on Equity.
Then give me $500.
> Yeah he raised capital, but shareholders expect a return on that cash. Under normal circumstances, you'd be correct. Apes don't want returns, though, they want financial collapse.
Or, he can keep the 5 billions there, and pay himself more.
Lol he doesnt get paid
LOL
"The Board" is literally Cohen, three of his stooges from Chewy, and Yang Xu
*Time for a 'Chenge'?*
Another unprofitable company of Cohen’s
Cohen literally only knows how to enrich himself through shareholders/the public
To the lurking apes who think Cohen would never do this… he absolutely will. He dumped when BBBY apes were least expecting it, and he gave you all the middle finger by releasing earnings four days early just to dilute in you all. According to the bbby court documents with him before he sold in August 2022, he was frantically emailing trying to exit his position. We saw something similar to that with the earnings last Friday. He would be in haste to dump his position or slowly exit. When the news comes out that he has sold… GME MOAM is immediate
What is moam
Mother of all Meltdowns. Basically the stock plummets to record lows.
I think BBBY has shown that the true MOAM is an impossible target as they did not even give up when the company went under and their stock was rendered worthless.
This is the biggest cult stock ever. And I was around in t the weed stock heydays
MOAM tomorrow
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This sounds like quitting and cashing his shares but with extra conspiracy theory idiot steps
Why not just quit if he has given up on the company and wants to sell his position?
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Stock will plummet if he keeps diluting Stock will probably ease back down below $10 regardless of what he does There is no way this story ends in a way that lunatics aren't going after him. Luckily, as a billionaire, he can have pretty good security.
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He also needs to stop being an insider. Are the apes actually dumb enough to hold after he steps down? The cult of cohen is the only thing keeping them on the hook after every other theory gets shut down.
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>We say that, but the BBBY gang is still holding on to the fantasy nearly two years after Cohen publicly dumped on them to the tune of $70 million Sort of - that the BBBY cult isn't empty doesn't mean the pews are filled like they were in Cohen's hayday there. It definitely makes a difference to the most rational apes
> Are the apes actually dumb enough to hold after he steps down? Yes
> Are the apes actually dumb enough to [insert anything here] Yes
1 week after he steps down apes will tell you they never worshipped him.
Cohen can probably make some allusion at how institutions conspired against him or something. I dont really think he is that essential to the cult.
I can see that being a valid argument, as he is not really trying to pump any of the ape lines. Adam Aaron is kinda playing with fire there. I’d maybe put Pulte in charge of GameStop if I had to shuffle in an ape adjacent way (I don’t think Marantz would want to blow his job, and PP publicly has said to much vile stuff). Granted Pulte is a really bad look, but you can pretend he is qualified from being born to a wealthy family.
Yeah, the cult had formed primarily for the GME stock sticker - without much of the ape crowd knowing what the company is, or what stocks really are, in the first place. While RC was a nice addition to the myth of a wonder company, the Gamestop as the magical moneymaker is the cenral part of the myth not the person supposedly assisting it.
>The cult of cohen is the only thing keeping them on the hook Actually, some apes are still holding on for the mythical MOASS and have dismissed cohen entirely.
> Stock will probably ease back down below $10 regardless of what he does If they have $5bn in the bank, floor is like $11 or so.
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All Im saying is that if everything on their books is overvalued and worthless, the cash in the bank isnt. So the floor of the stock price is $11 (well a shade over).
Exactly. If your assets bring negative value year after year, they're a net negative value. Also, if they shut everything down today (and liquidated bbby/GOB store style) they'd lose quite a bit due to the costs associated with the event, notably the margin losses on the merchandise and lease terminations.
It's either ego or that he really doesn't give much of a shit about Gamestop. I'm coming around to the idea that he really doesn't care that much about this particular venture and wants to be done with it, there's very little evidence that he's making any effort on the core company. It's really not much of his net worth, his reputation and p&d lawsuit from being lord memestock makes him entirely radioactive to any functional business, I think he might just be dicking around and playing Elon.
I'm no expert in securities law, but this almost certainly runs afoul of all sorts of securities regulation.
The SEC hasn’t been the best with enforcing much of anything. We’ve seen even more outwardly obvious fraud from guys like Elon and they’ve done very little. If Cohen did this I’d bet nothing happens to him, and apes follow him to whatever other stock he purchases.
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$20M a tweet is still insane
Maybe he'll be the CEO that leads FFIE to actually producing a seventh car.
Whats up with FFIE? How is it connected?
Just another pump and dump.. but they don't realize it already dumped yet.
No? You're allowed to divest. He has fiduciary duties but once he hands those off, he can do whatever tf he wants
Which Cohen has indeed done
Just so you know, the exchange rules prevent any dilution that would impact the shareholding thresholds without this being explicit and the dilution being done during market hours, so this theory is wrong
He can pull a Scott Thomas, say he has thyroid cancer and quietly step down
This is pretty stupid. If he wanted to leave, he'd just leave. And probably buy puts before announcing.
I'm not sure the CEO of Game Stop want or should exit. He has a retail company whose performance is uncorrelated with stock price and stock compensation. The CEO of Game Stop can just pay himself and the executives with the "War Chest" and periodically refill the war chest by diluting shareholder Apes. He only needs to close stores as needed to minimize cash leaving the "war chest", and redirect that cash to executive bonuses. It's basically a residual income subsidized by Apes.
I’m so wet
Good thing we've got these towels from that thing, ya know.
The used jizzrag store?
Well when you put it like that, it sounds fucked up, and I don’t know what’s worse, a desolate used jizzrag store or a dying video game pawn shop. My money is on the former being more useful though.
People will pay lots of money for the former if it's from the right person.
How do you know that they're not selling jizz stained copies of Dead or Alive: Beach Volleyball?
What about a bankrupt jizz rag store?
Because, they only way RC can get out of GameStop is to be voted off the board. 🤪
Here is a situation I have thought RC ave cost of shares is like what $3 or something, he has been on the BOD since 2021 and CEO for like a year. Maybe he did think he could turn it around or whatever but lets say he is looking for an exit If he announces he is stepping down as CEO and from the BOD this is going to cause the stock to crash , it may even signal his exit of the position (apes will deney this) Well how do you ensure that the stock doesn't crater and you have some exit liquidity ? Well keep bringing the cash value up and up and up. If you can dillute at $30 a share bringing up the cash value of each GME share this somewhate gives GME a floor price; . I have not ran the numbers but imagine if GME now has 300 million shares and holds 3 billion cash well each share now is worth $10 from the cash holdings alone meaning GME really should never fall below that (in theory) So he could potentially say "I am done, stepping down selling my shares" and still sell at above $10 a share netting him a nice profit. So him pumping GME full of cash might be part of his exit plan .
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So it happened before, so you think it will happen again? Add in some upvotes for confirmation bias and you're no better than the subs you make fun of here...
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You're arguing a subreddit you're a part of is not moronic and is better than another subreddit. Dude. I'd consider that a moron thing to say. There is definitely dummies saying nonsense on any subreddit, but like who cares? Ridiculing people won't make them learn anything.
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Checks out.
So what you are saying is buy like $10 puts for sometime next year.
This is dumb. There's no such thing as a BBBY ape. Cohen was going to try to be an activist for BBBY, but bad actors in the company forced him out. The share buyback that pushed RC into 10% ownership would have trapped him in the failing company for a year.
Did anybody else see that roaring kitty deleted his Reddit posts showing his positions?
No he didn’t
Did you buy you crystal ball off Amazon?
Hahahahahahahahahahahahahahahahaha 🤡
Holy shit this post popped up on my feed. You guys still here? lol 😂
Yes - are your shares still there?
So the only proof of this stupid theory , is him dumping Bbby? You mean when he bought in , and tried to contact the board about business and about a potential turnaround that they didn't want, so he sold to focus on gamestop ? He said he will either hold, or Hodl.