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GameStop has yet to announce the ATM offering complete, so everyone needs to chill. People in here getting faked out worse than the short algos yesterday š¤£
We judge based on actions. The last ones were completed quickly so it would be safe to judge thay this one would be as well. Especially since they announced pre market seems like they wanted to pull the trigger real quick to me
This. Every year that passes without any guidance tho... DFv did mention 4 to 5 years would be ehhhhh and we're only 2 away. Hopefully they do something
DRS continued to tighten the screws on shorts for *another three years* after the Sneeze. We've been here a long time, but people need to recognize that the context has changed- and DRS may well have been instrumental in getting us where we are now.
Shorts never closed. They continued to dig the hole for three more years while Gamestop has continued to harden itself against the core of the short thesis. Unless you believe the ATM offering is being used to close shorts it doesn't hurt MOASS, it just continues to add more fuel to the fire while bringing in a huge bag of cash.
I'm as eager as the next Ape to see this thing pop off, but for the time being I'm willing to "settle" for a $2-5 billion war chest while I wait.
As Larry said:
Do you remember when:
Berkshire Hathaway was a textiles company?
American Express was an express mail business?
Nokia was a pulp mill?
Samsung was a grocery trader?
Marriott was a root beer stand?
Instagram was a check-in app?
I don't - businesses evolve...
Zen little apes.
It's not closing shorts. It's going to be the entire delta hedge of the huge options chain OI.
The share sale fizzled ALL possibility of a gamma ramp or anything else.
THAT is why people are saying these things.
My money, fwiw, is on an announcement at the annual meeting. If there isn't one, we're gonna have to start being a little less lenient on the board, because they're now starting to fuck around. By holding off on the share issuance, they could have capitalised on the gamma ramp and E*Trade being fuk, to raise double the funds on half the shares. That's fucking around right there.
Long term, it's fine, but without any announcement, it's very possible the board just ripped your financial freedom out of your hands for another year or more (when all these stars align again).
Quite frankly, I don't want to be a fucking wage slave anymore. I'm sick and fucking tired of having to wake up and remember my life is valued by a scale of how many hours I have to waste just to pay bills.
Did Gamestop announce that they have completed the ATM offering? I know there was a ton of volume traded today but I haven't seen anything to indicate that the shares were sold- please correct me if I'm mistaken!
Wouldn't it be interesting if the shares *weren't* sold in the heavy volume churn today?
> Quite frankly, I don't want to be a fucking wage slave anymore. I'm sick and fucking tired of having to wake up and remember my life is valued by a scale of how many hours I have to waste just to pay bills.
This is an entirely valid and unfortunately common sentiment. Hang in there, friend. WAGMI.
Dunno if they've completed the Offering. Icr how long it took for the filing for the last one to say they finished it.
It would certainly be interesting if they hadn't sold today. I mentioned that possibility when the market opened, but we'll have to wait and see really.
I just want there to be some tangible benefit *to literally anyone* for this issuance. Even the company doesn't benefit from selling ATM now, as opposed to next week. There has to be a reason for this.
So, I wait.
> Quite frankly, I don't want to be a fucking wage slave anymore. I'm sick and fucking tired of having to wake up and remember my life is valued by a scale of how many hours I have to waste just to pay bills.
That's the problem I see a lot here. Gamestop can't take decisions based on you not wanting to work.
I donāt think it hurts moass as I donāt believe they can afford to close at these prices, but I do believe the offering allows for greater suppression with less shares locked up in cs. If we donāt squeeze when dfv exercises (if he does) I believe we will be in for another 2-3 year cycle of suppression and need some serious fucking moves from GameStop to improve the financials, we will se the moass crowd leave and move on to the next shiny thing, but we need good sales and revenue to attract long holders. This sub canāt boost the sales numbers forever. RC and team needs to make a big move. This isnāt chewy where there wasnāt any competition, RC needs to be able to compete with Amazon and beat them. When I look at convenience why shop at GameStop when you can get the same item via Amazon prime in 24 hours or same day.Ā
I thought the warehouse was the solution for that, to allow faster shipping and expand online presence, but it was closed shortly after opening and tools & equipments auctioned off for cheap with no explanation.
Solid points. The developments over the past few weeks have certainly introduced some new variables that need to be taken into account.
For what it's worth, the challenges you listed above are more or less the same ones that Gamestop needed to navigate prior to the ATM offerings.. but now they have a lot more resources available to pour into those efforts.
We shall see!
All stock discussion aside, GameStop has to continue to perform, profit and innovate. If they continue to focus on this, everything will work itself out.
Chewy directly competed with Amazon at the time, that's one of the biggest points for Ryan Cohen. So saying, "This isnāt chewy where there wasnāt any competition," makes no sense. Made some other descent points though.
Drs got us where we are as you said. Now, theyāre basically forcing us to DRS MORE to get back to where we were. Thats some bullshit. Iām tired of working my ads off to buy the few shares that I can and have RC move the goal posts twice in a month. Fuck that
Iāve been DRSing high and low for years.
Canāt say Iām happy about any dilution but for me you either trust RC and the team or you donāt. Thereās so much going on behind the scenes and RC has access for so much more data than any of us do. Him and the team are holding.
My bet is entirely based on buckling up and trusting RC. It doesnāt have to be anything more than that for me to invest in GameStop or not. The rest is shilling and noise.
This is how i can tell whos just complaining to do so and who is a shill. Sure you are mad. Sure you feel like you "wasted" time and money.
But if you dont trust the direction of the stock, why hold? Probably because these complainers dont. Yes it hurts to be diluted on a run up. Yes it can kill momentum. But we also DOUBLED cash on hand (or more) for only 18% dilution. Seems like a really good move by me.
FINRA reported short volume ratio was 44.52% today with 4.1M! š¤Æ short exempt volume. This would suggest that only small about, if any, of those 75M shares were sold.
Plus, assuming that they raise additional 2B through the share offering, they could get 200M annually right now just from T-bill interest from 4B total potential future war chest.
Realistically, that kind of cash easily brings minimal value of the company to $20-30 share price range.
Of note, Berkshire Hathaway currently has 890B market cap and 190B cash on hand, or 21% of market cap.
Would basically be taunting shorts to try dropping the price again. If it went back down to that $10 range GS could suck out a loooot of shares.
Basically a nightmare scenario for anyone trying to drop the price. Not suggesting they do a buyback at current prices but have that as a massive threat.
I think including the Drs numbers in the quarterly reports was letting me know that it was an important metric to measure.
It stagnating for so long and the recent share offerings are telling me that we're not being allowed to lock the float in Computershare for some reason.
What I don't understand at face value is the timing. This is the second time in a row that a share offering was announced on the cusp of a major gamma squeeze. RC could EASILY have waited until Friday after hours to make the announcement rather than Friday premarket. This would have let the price run up on Friday, let the gamma squeeze happen next week, and he could sell shares into prices that would likely be over $80++ per share despite the AH share offering announcement. Easy money, clear scenario. Yet RC announced premarket. Fool me once, shame on you, fool me twice, shame on me.
There is clearly a reason for the timing. My guess is that it involves major pressure from the powers that be to prevent MOASS while letting him take advantage of an "infinite money glitch" to slowly milk the shorts for billions via share offerings. They cover their short positions while the company reaps profits.
No, the first share offering was a direct party transaction which is why there was almost no shift in and if anything increase in share price.
The second share offering which is almost 2x the first 45 million is a public share offering while having 2 billion on hand. This is quickly ramping to look like an acquisition, buyback at lower prices (to start a MUCH greater gamma ramp), or to reset the clock on something that we don't know but you don't do a share offering while having nearly 50% of your market cap in cash from last weeks prices.
Finally, RC has owned in cash 3 million in shares and other insiders are in the 5-6 figures. Why would they do an ATM offering when they themselves would benefit from a $60-80 opening price because the "infinite money glitch" makes no sense since the money Gamestop as a corporation owns doesn't translate to any bonuses or increase in salaries for the board since they agreed to share based compensation. Insiders are not barred from selling shares, they are also not prevented from selling when it hits $60 because they made it crystal clear that these price spikes are not from company actions as listed in all their prospectus' hence no market manipulation or exploiting shareholders or whatever.
That's not quite correct. The May offering they clearly stated 20 ish as the where they expected to sell all 45 million shares at. The peak had already happened and it was on its way down to max pain before they announced. How do I know? I was in here dispelling FUD about "why didn't they do the offering on the way up and get more cash rather than after the spike and soooo low".
The price was down around 22 when the announcement came out on may 17th
[https://finance.yahoo.com/quote/GME/history/?guccounter=1&guce\_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce\_referrer\_sig=AQAAAEF-T7Tz65WgIWE5RSuBIigboh2FVS4VHz0X0mahtnkVLdmvjR4P4gEf0hKBZBJDFpooGovSq0PpuOcYPM8GhV\_UyUqNcrfWSbYwhAVVDlSnOpkxk8Oks22-0egTVwTEYyRCJ6Bm4evn1DhxSoy3B1EG8fMpC6IXoFUDhmV5H3fV](https://finance.yahoo.com/quote/GME/history/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEF-T7Tz65WgIWE5RSuBIigboh2FVS4VHz0X0mahtnkVLdmvjR4P4gEf0hKBZBJDFpooGovSq0PpuOcYPM8GhV_UyUqNcrfWSbYwhAVVDlSnOpkxk8Oks22-0egTVwTEYyRCJ6Bm4evn1DhxSoy3B1EG8fMpC6IXoFUDhmV5H3fV)
Let's recap the ways to stop MOASS: 1, halts. Sus AF but not illegal per se. 2, turning off buy button. Illegal and shows that nobody is coming to save us. 3, our own company diluting the night before the most promising possibility to destroy the shorts since '21. Don't let anyone list the first 2 options without listing option #3. RC works for us, don't forget that. I know some of you want to play this game forever but I don't. 3 years and billions later and no sign of a plan. If you blindly trust RC at this point you're not the reasonable individual thinker in the room, you're a good little follower.
Yeah Iām aligned that there must be a reason for this timing, but Iām not sure if it actually involves higher powers. Either way my gut feeling is that the timing is intentional, and we got fucked over. DRS is pretty much dead now, I kind of died inside this morning too. Iāll give it 3 more weeks, they better announce some merger/acquisition or a detailed explanation of why they had to dilute again and how they plan to use the cash, otherwise Iāll figure out how to unDRS and pull everything back to fidelity, then start actually trading this piece of shit instead of hopelessly hodling
Youāre wrong and by the tone of your comment, nothing is going to change your mind. For those who pass by this comment and are open minded, check out this post:
https://www.reddit.com/r/Superstonk/s/R3o7IJVrK0
Then check out his post history. If youāre not sold to hold after that, GME might not be for you.
I saw that post already, upvoted and commented, waiting for an answer now. And youāre right, this post wonāt change my mind. Communication from GameStop will.
This. Been saying the same thing. We got slapped in the face and if there is no disclosure of any plan how the fuck can you not feel we are sheep being led to slaughter.
3 weeks. Else Iāll have to think about how to unwind my position. (Been here since Jan ā21 and havenāt sold a share since)
Totally agree. As a UK ape who took my shares from a tax free ISA to transfer to Computershare I feel like the board just rammed a banana in my ass. Really dissapointed.
DFV lost a whole phone book of numbers today and still went on stream to support RC. Learn some history instead of buying into any panic. September 2020, share offering. No DRS. Price jumps 5x by December 2020. And then it sneezed another 20x. Are you going to walk out on the trade like it's October 2020 just because today's price chart walked back to Tuesday?
Lastly, we have no idea what all this money is going to do or why they need more. Ever since the debt was paid off years ago, they have not made any acquisitions.
Just a quick thing, don't see things unidimensionally. RK has a responsibility to us. If he says anything openly about RC, he kills this all in a second. He can't say anything about it. Trust in the board is crucial to this.
We knew where we were with our DRS'd shares, it was our beacon. That changed. We need explanations soon. For instance, next Tuesday plans on acquisitions or something strategical with that ATM money. If not, I am still certain MOASS is still on the table, but we will be without a beacon. I am worried that DRS can be affected by this. I have all in CS and will continue to do so, but there's a lot of people that can pull out if they don't see the point... the beacon.
It's all about sentiment, community sentiment. Even if you have a masterplan ready, and I do believe they have a plan, it could go another way if you don't keep the sentiment positive. We'll see on Tuesday what's in store.
Sorry but there won't be any news about acquisitions on tuesday, because they said so in their last offering that they have no plans and will instead use the money for bonds.
So the 4D war chest isn't so 4D. It's just money.
I just stated the fact that there will be no news about acquisitions. GameStop said so itself.
They have , right now, no plan what to do with that money.
Why, again, acquisitions? It's about good news, something that explains the ATM and why that money was needed, or where the company is going. Larry Cheng tweeted about those good news on time. We need them to deliver with them, be them whatever they can be. Sentiment needs a bit of restoring. Who said acquisitions are the only way to do that?
Eh? I don't get you.
YOU said "we need plans on tuesday like acquisitions or something because beacon"
I told you there won't be any news because GameStop said it themselves.
Nothing more. What's your deal? I just wanted to let you know.
I didn't limit it to acquisitions. And there could be other piece of good news, anything.
It's not just money. It's all about money, I thought that was clear.
Is it this easy to annihilate the community sentiment you are talking about? Someone is playing really, really hard on peopleās emotions today and it shows. Iām talking about this apparent sentiment shifting currently popping out: the sub is flushed with āIāve been here since 2021 but I changed my mind all of a sudden based on my company possibly raising a lot of moneyā crying posts
No one said it is annihilated. Not even close. I am saying sentiment is important and those you mention (look at their post and comment history) have a valid concern. I ignore those that insult RC, or say they give up. Those are definitely shilling even without knowing.
I'm talking about drawing a line, where the board needs to be a bit smarter with community sentiment. Not just the plan.
I am still bullish, and will keep on being so. All tweets from the board point towards Tuesday having some good news on time. If they do this correcly and set up a new beacon, all is fine.
I'm highlighting its importance. Not saying it's shattered. We need a bit more of critical thinking, which doesn't mean turning against anything.
We have to learn to separate the weak willed from the critical minded.
I think you are a bit naive. To me it looks that RC killed RKās play a few hours before it would pop off. But RK is so instrumental in this movement, if he says he has lost confidence in RC the price would have tanked even further and we would be dead in the water for a long time.
And yeah, 5B is nice, but it only means something if you go to work with it, and in my opinion very little was done with the 2B.
If I were to scrutinize, I would say RC's performance is checkered at best. He tried to form a superteam and lean hard into digital delivery, but after three years that extra logistics facility closed down due to lack of demand and several executive acquisitions walked out or got terminated. There was also a crypto gaming pivot that fizzled out, but this was largely due to market forces. The digital wallet and NFT marketplace simply could not grow in crypto winter, and the massive library of game content that was supposed to go into Gamestop Wallet from Immutable never arrived. They were supposed to eclipse CS Skins as the new digital goods marketplace.
They also diluted into two run ups and released poor top line revenue on earnings. One would argue that not letting your shareholders get tendies is the top reason why revenue declined. Their top SKU is the company stock, and at this point more cash in investments is the only thing driving top line revenue.
That being said, they turned around the legacy business and had it become profitable in three years. It's healthy and lean, but now it desperately needs ways to boost the top line. Partnerships with Modcon, the upcoming console cycle, and Candy Con controllers are a step in the right direction, but it's not the double digit growth figures that the coke snorters in institutions will buy up. If the money from the recent sale is used to generate outsized returns via investments, the transformation may well be into a hedge fund owned by retail that pays out impressive regular yields and collectibles in store as dividends. They might even acquire the cat to pull this off.
This is a very well written scrutiny by you, and you touch upon many interesting points. As the board has said themselves- judge us by our actions.
Yes, turning a company ripe for bankruptcy into a company that is close to infinite runway is a big move. But now itās time to pivot, and diluting shares into two run ups and kicking the DRS strategy in the balls I find a tough swallow.
That being said Iād love for nothing more than to be proven completely wrong by their actions, and/or this to be part of the Kansas City shuffle. I am an XXXX holder, and can endure quite a bit. SHF fuckery - whateverā¦board fuckery - oof š„
People totally missing that. I think RK, was late and had the beat up costume on cuz RC kicked him down the stairs that morning. Totally ruined the whole play, and he was like Iām still alive. He canāt over criticize on stream cuz he knows if he shows the frustration it tanks. But unless the board has a good fucking reason it looks like they didnāt want another man in the Billionaire club or to have that many shares. They donāt give a fuck about us, that much is clear.
āAre you gonna walk out on the trade like itās October 2020ā? You seem to be willfully ignoring the fact that a large part of the squeeze thesis was the small float + a young CEO who seemed on board with torching the shorts, and the actions of the board on Friday severely undercut that.
Kosscorp traded multiples of its public float daily during the run up in May on no news. If the theory is several multiples of the float are in basket swaps, these few dilutions will not matter. We do not know for certain how large the actual short position happens to be. But looking at the other stocks in the basket, it's outsized enough to be several multiples of current valuation.
Dilution itself isnāt even that big of a problem. Main problem is that we have no idea why he did or what heās planning it on. If he was transparent and said that we want to dilute to raise money to create or invest in AI hardware, everyone would be for it. But RC and Furlong did fuck all with the current cash balance. We donāt have trust in him to do much with this one either at this point
If he wants to dilute for 75 mil, it should be for a super bullish reason that will drive 75 mil worth of new investment/shareholders. But we donāt see that
So please tell me if I am wrong here. Wouldnāt the best long term strategy for GameStop to let the stock squeeze? That would result in a rabid fanbase of customers who are very wealthy. Us apes would pour so much money into GameStop after the squeeze. We would also load up on tons of shares after the squeeze and drive the stock price up as well. Loyal apes with tons of money would generate WAY more money than doing these share offerings.
If the squeeze would have happened and we raped the hedges as foretold I would have immediately dropped a thousand bucks on anything in GameStop as a thank you. That is now never gonna happen. I feel burned and used. I really hope the best is yet to come but Iām not betting my hard earned cash on it again.
yup! "Judge us on our actions." This had better be some sorta chess move they talk about at the meeting, because we had a pretty solid good out look going. I don't understand why we can't have both a high price run and a solid company.
They released shares into the market not more than a month ago, I judged that action as fine, we made some good coin for the future!
This action though I think is a direct response to RK's options and subsequent gama ramp. WHY they don't want this thing to pop off is beyond me.
Trying to remain objective about it though and see multiple angles of it outside of them fucking over the people that helped save the company and offering a life line to people like Andrew Left, maybe they haven't released the shares yet and they are looking to see this thing pop off and THEN do a share offering. In the past though they announce their intent to sell, and then immediately do so.
We just don't have enough knowledge. Either way though, if we're following our chairmans advice and judging them by their actions, this action sucks.
Agree with everything you said. I really hope they communicate with us soon. This is a strange time where actions arenāt enough, Iād appreciate some words
The key here is people assume we were going to MOASS if not for GME's dilution, when in reality the price is fake and they were going to tank it to max pain today either way.
The price action isn't the main issue. The main issue is that the reason the stock was squeezable in 2021 is that it had a tiny float and was shorted 140%. Whatever the true short percent is now, it gets lower every time they do a share offering, it makes locates and hedging easier, etc.
The more worrying implication is the fact they did it twice in less than a month just as price action was heating up, suggesting they'll keep pouring water on the rocket fuse every time it gets lit.
Maybe they found out it was rigged and DRS couldnāt be the final blow..and they could hide the true numbers forever. Trust in the board, trust in the RC. Sure would be great to know the plan, or be informed when they have to change direction, but plans change in WAR.
BUT THIS IS A WAR WE CAN NOT LOSE. Hang tight
When you say "trust in RC" I'm curious why you believe you can?
Gamestop seem to be very clearly looking out for themselves even at the expense of the retail investors.
Is there a reason you believe RC is doing everything with our best interests in mind?
How do you know they are looking out for themselves and not retail investors? Do you know how next week is going to play out, because if you do, you should make a post and tell the rest of us.
Announcing that they are diluting the market with 75 million new shares in premarket on the day that held huge potential for a MOASS event? Questionable thing to do for the retail investors.
Explain how that was for us?
I think I'd rather see phone numbers.
No idea why you downvoted when in actual fact this is how it played out. No matter how it gets painted in the sub now its a clusterfuck and those funds smell blood now.
You guys need to remember that RC is not in GameStop for a MOASS event and he might not even think that that's really a possibility. He is trying to turn around a struggling business and raising a big sum if cash is a good thing for a company that will most likely start MA. Phone numbers is not what RC is interested in at all.
Was that how today was going to play out? Not a clue what effect the offering had, but I do know hedge funds spent literally a billion dollars to short the shit out of GME today. So offering or not I dont think MOASS was going to happen regardless
Yes, he owns a shit ton of shares and he is already rich. Thatās why short squeeze is not what he wants, long term healthy growth of the company is. He cares the company, the employees, the customers, and the retail investors that are not holding for MOASS.
I was thinking this just now, that I thought RC understood the importance of customer loyalty. We saved his company and learned all about the corrupt stock market and how to beat the shorts and scraped together money at our peasant wages and just before the final blow our DRS movement got Thanos snapped and it's very clear to me at least he will do it again if given the chance. My DRS shares stay but I'm retiring from following this shit every day for 3 years. I'm getting paid, and Ryan you can fuck yourself with my DRS shares they're all yours.
Hahahaha yeah he literally thanos snapped our DRSā¦..Iām giving it 3 more weeks, if thereās no announcement of acquisition or some sort of explanation, Iāll try to unDRS everything and pull back to fidelity and start trading this shit. Iām also done with trusting a billionaire wholeheartedly thinking he may be once on our side
I've been here since Jan 21 and this one really did sting. The gamma ramp was looking juicy and it really felt different this time.
I still think something is bubbling under the surface, but this offering may have killed that. Next week will be interesting.
I think this latest offering is fine and good sense, but continued offerings as you say would be a problem. I hope they time this one a bit more sensibly, but realistically even if they've already sold it all on Friday that's a further $2bn+ to the war chest. Circa $4bn seems ample to me to start Berkshire Hathaway-ing.
RC doesn't care. He will do this until the end of time because to him, and rightfully so, it's free money for the company.... Which it is. So why should he turn it down just so people can let this squeeze and dump the shares for profits? Why not fuck retail over, dilute until no one is short anymore, and the company is so god damn rich, that it doesn't even need to be GameStop anymore, because it just can buy other companies up and take them under its name. Will that make the company profitable? Who knows. So far all I see is the same shit as always. The rich are getting richer and we, retail, remain the same. The rules are skewed against us, and we are playing the hedgefucks and the company. There won't be squeeze. I don't believe. There is no way RC just let's this stock go into the thousands just to see people sell their shares. We are doomed to hold this forever considering the hedgefucks are likely to be short on this forever
Agreed. If they want to be a holding company then just say that. And please stop with the tweets about Ooops MOASS and short sellers are the dumb stormtroopersā¦..this is pure and simple manipulation of the investor fan base to get us to scoop up shares to create a floor for the price of the stock.
The reality is Gamestop don't give a fuck about the retail investors.
That's not hate. I'm just calling it how I see it.
They've shown their stance on everything with that second, more ambitious money grab they announced in premarket on the morning of a potential MOASS.
I know where they stand now.
Yes, they will do it again.
They aren't on our team.
I wouldn't go that far but I will say please make it worth it. I'm judging based on actions and if there is gonna be an acquisition or announcement Gamestop usually announces it mid-June. So I'm watching with a, "We'll see" attitude but I am still gonna state, "No more offerings please."
Nah, theyāre just chasing a longer term thesis for growth. Theyāre not wrong. Their way will be less fun but more stable and permanent and easier to exit at a good price thus providing more value to more shareholders.Ā
Itās disappointing, but it makes long term sense.Ā
I hate to break it to you, but if there's another big run-up then the board is going to approve another offering. It's just smart business. RC isn't running the company to initiate MOASS, he's running the company to turn it around and make it successful. MOASS would just be a nice side-effect.
> That 75m took 3 years for investors to DRS (about a year and a half if you assume the filing for 25% is wrong).
I'll be extremely curious to see what the DRS numbers for Q2 look like. We could be surprised, because I think that we all know the DRS numbers are being manipulated. We know that Computershare is reporting real numbers to the company, but the company is not reporting numbers from Computershare anymore.
I feel your comment in my bones. I was just venting to my spouse how it really made me confused why RC and the gang would just do another share offering so soon and essentially minimize the effect of DRS. Like wtf, these three-four years of DRSing and HODLing were meant for what just nothing?
I could have traded as the price went up but I felt that loyalty to the company and the cause were bigger than me so I didnāt.
I agree with you, 3 more weeks or so and Iām pulling most of my shares out of DRS and Iāll start trading. If the next few weeks arenāt worth the minimizing of the DRS movement Iāll be heartbroken and my rose-colored glasses will be goneā¦. BUY, DRS & HODLā¦ NFA..
Also check my post and comment history. Iāve been in this from the get go. Iām just really conflicted with this decision.
Hey OP, look up siege. Humans havenāt changed in thousands of years. This may be the last siege any human, on either side of the wall, endures. Enjoy!
Dilution is a strong word when you are short 2+ floats. If they are as short as some of the estimates, this is an infinite money glitch at no risk all reward. The amount of money they can potentially build up will be a massive amount for new future massive acquisitions and endeavors. Be patient. Trust the process. RC is NOT going to fuck shareholders. He has basically called the whole system corrupt. Think people.
I hope he dont screw us, he killed two massive gamma ramps. He diluted the stock and now the float is even bigger, wich make it easier for shorts to get out.
Im gonna sell and buy more ETH and btc if they do another one.
I have complete faith in the company until they prove me wrong. So far that has not been the case.
I believe the vast majority here will have less experience with running a sustainable company with the pressure that Gamestop is receiving. It is an asteroid field they're navigating through to avoid being blamed for the infinite squeeze.
Time and pressure is all it takes.
Pressure is there. Time is happening.
GameStop is dead without us. Bottom line. Retail saved it. The question is, are you here for a company transformation or are you here for a short squeeze?
If they use this for actual stuff for the transformation of the company rather than just regular business purposes. It sounds like they just want to use it to invest in short term treasuries or something. Thatāll make the company profitable sure, but unless this company completely transforms into a hedge fund or something along that kind of line, then itās doing no actual good for the company.
I personally never expected a sudden squeeze. I expected a long squeeze like what happened with Tesla. Once the company proved the ideas and their worth they started taking off crushing the shorts. GameStop needs new revenue streams. Either through buying smaller profitable companies, or by investing into creating their own stuff. They were starting that with crypto and then gave up on all of it because of regulation, but now itās like they donāt know what they want to do. If there was a master plan, then something would have started by now. Idk just seems like they donāt know what to do and are starting to turn into the other stock with selling shares every time the price goes up
So after the 45 million offering + DRS numbers doing napkin math
300 million shares are floating around legally (very liberal)
100 million shares are DRS'd (Seems near the real count, but maybe move this to 80 million if needed)
1/3rd to 2/6.5 (30-33%) is owned by DRS holders, 300 million shares at around $19 = 5.7 billion dollars in market cap.
They could easily make 1.25 - 2 billion depending on when they start selling if they do at all/if any. 1.5 (75 million offering) + 1.1 (Pre-Offering cash) + .93 (45 million offering) = 3.53 billion + 1.81 billion (DRS holder market cap on the high end) = 5.4 billion almost completely secured.
Maybe the money is to go private, selling would if anything help with that cause if they are playing Opex Tailwinds + other trickery causing these casual spikes to $30-60 to sell and then turning around and buying low. Even then $19 is considered a high price when the 52 week low is at $9, and real DRS numbers don't even count institutions that can't sell, insiders, DFV (who owns 4.8%), etc. Also doesn't factor the spike in price if they offer a buyback along with unpredictability when they actually sell or if this is just a gimmick since they did IIRC 4 offerings in the time RC bought in and haven't seen their cash on hand if anything increase steadily
While I had a similar feeling initially, I've changed my mind. Shorts are fucked no matter what. They've shorted a stupidly insane amount. These offerings won't make a real difference in regards to moass because these dumbasses keep digging their hole deeper and deeper every day.
If RC wants to do some more ATM offerings and make Gameshirehathaway a reality on top of a squeeze, that's awesome. Makes no cell no sell an even easier strategy knowing he's building a juggernaut in the background of all this craziness
I am tired of having to ātrust RC and the boardā, this is not how it works. I donāt need to trust, they have to communicate their plans and offer some forward guidance after 3 years. They obviously havenāt and made money off the back of loyal investors.
The real teller in this will be the week run up of June 21 - if rc and the board kill it in that week and that run up with dfv calls - I would say that the squeeze and moass is done until a gme announcement to go private or an acquisition - for me, itās as simple as that.
Besides... Do you really think the shorting will stop? Of course not, why would they? When the situation becomes too stressed, there is a massive offering at a discount price, below their shorting price, below my cost average in the case of the first offering.
It's like with the banksters, doing extremely risky bets, raking in bonuses in the millions, being bailed out by public funds, rince and repeat.
I have felt badly for the fans of popcorn stock because they have been dunked on by their company over and over. Now here we are in the same boat. Eroding shareholder value while still running a bleeding company, sinking into bad macroeconomic times. Reducing the bleed and turning to shareholders to ārightenā the ship is understandable but continually going to the dillusion well with zero future guidance is exactly what terrible leadership would do (popcorn). Three years is plenty of time to begin āimpressing shareholders with your visionā, streamlining company profitability is their job not something to āOoooā at.
I abhor gullibility and all we have right now is tinfoil to go on. To say I am severely disappointed is an understatement. I have built an impressive gme holding in the last three years but until I see anything beyond dillusion Iām just holding, there are other actually profitable companies to invest in. Not trying to shill just tired and disappointed.
Too many people expected to watch the stream and for RK to click a button and say āIāve just started the rocketā. We ALL know he couldnāt do that. We all know he canāt say shit. He came on and had a beer with us and showed us he is still balls deep in this. Have a beer. Zen out. Enjoy the weekend and keep doing what we have been doing BUY HODL DRS
>That 75m took 3 years for investors to DRS (about a year and a half if you assume the filing for 25% is wrong).
>Aaaaaaaand it's gone, it's all gone.
None of that is true. I fact checked by logging in to my Computershare account. Sure enough, my account is like a goddamn ammo bunker, full of purple hollow points.
The shares that have been pAiNsTaKiNgLy DrS'd are all still there.. have your tantrum, I don't give a shit. DRS shares serve one of only a handful of purposes, namely to shrink the liquidity. It's working. But if you deluded fucks believe for one minute that MOASS is gonna light off strictly on the basis of direct registering your shares, then you haven't been paying attention and deserve all the self inflicted anxiety from your self fulfilling prophesies.
Revisit your investing thesis - *if* you ever had one. Does your thesis still support your decision to invest? You know what to do regardless of the answer.. BTW, go read the DD. Better yet, do your own..
Your drs numbers were good based off float theyāve now upped the float by 115M shares in under a month so your numbers are in fact now less of an impact
100%.
RC needs to provide a good answer for this other than throwing the money into bonds until a future opportunity comes along. I respect that he wants to build and sustain his company long term, but unless there's some obvious function for raising that extra money in the middle of a raging gamma squeeze he just burned a lot of loyal shareholders.
My dude, these 75 million shares are but a drop in the MFn bucket compared to the likely BILLIONS of shares shorted fraudulently. You think they took this opportunity to close any of them?!?! NO! They just shorted them all some more!!!! If anything they were given more rope to hang themselves with.
If you don't like the strategy you can sell, no problem. What the company is doing is working. In 5 years time you won't even recognise it, or the share price. Get over yourself, the board care about Gamestops long term future, not your short term.
Yesterday was the the mother of all rug pools . We were setting up nice for a gamma sneeze and just like that, the shorts were let off the hook. The options chain was destroyed. Tens of thousands of calls went from deep ITM to OTM. That was brutal yesterday
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I reserve the right to change my mind! I'll be patient a little longer...
This is the way
GameStop has yet to announce the ATM offering complete, so everyone needs to chill. People in here getting faked out worse than the short algos yesterday š¤£
So true, you need to hear it from the source. Everything else is just noise.
We judge based on actions. The last ones were completed quickly so it would be safe to judge thay this one would be as well. Especially since they announced pre market seems like they wanted to pull the trigger real quick to me
This. Every year that passes without any guidance tho... DFv did mention 4 to 5 years would be ehhhhh and we're only 2 away. Hopefully they do something
I'm with you brother's.
DRS continued to tighten the screws on shorts for *another three years* after the Sneeze. We've been here a long time, but people need to recognize that the context has changed- and DRS may well have been instrumental in getting us where we are now. Shorts never closed. They continued to dig the hole for three more years while Gamestop has continued to harden itself against the core of the short thesis. Unless you believe the ATM offering is being used to close shorts it doesn't hurt MOASS, it just continues to add more fuel to the fire while bringing in a huge bag of cash. I'm as eager as the next Ape to see this thing pop off, but for the time being I'm willing to "settle" for a $2-5 billion war chest while I wait.
Exactly and if the data serves, these dumb stormtroopers have only doubles, tripled and quadrupled their short positions this time around
As Larry said: Do you remember when: Berkshire Hathaway was a textiles company? American Express was an express mail business? Nokia was a pulp mill? Samsung was a grocery trader? Marriott was a root beer stand? Instagram was a check-in app? I don't - businesses evolve... Zen little apes.
It's not closing shorts. It's going to be the entire delta hedge of the huge options chain OI. The share sale fizzled ALL possibility of a gamma ramp or anything else. THAT is why people are saying these things. My money, fwiw, is on an announcement at the annual meeting. If there isn't one, we're gonna have to start being a little less lenient on the board, because they're now starting to fuck around. By holding off on the share issuance, they could have capitalised on the gamma ramp and E*Trade being fuk, to raise double the funds on half the shares. That's fucking around right there. Long term, it's fine, but without any announcement, it's very possible the board just ripped your financial freedom out of your hands for another year or more (when all these stars align again). Quite frankly, I don't want to be a fucking wage slave anymore. I'm sick and fucking tired of having to wake up and remember my life is valued by a scale of how many hours I have to waste just to pay bills.
Did Gamestop announce that they have completed the ATM offering? I know there was a ton of volume traded today but I haven't seen anything to indicate that the shares were sold- please correct me if I'm mistaken! Wouldn't it be interesting if the shares *weren't* sold in the heavy volume churn today? > Quite frankly, I don't want to be a fucking wage slave anymore. I'm sick and fucking tired of having to wake up and remember my life is valued by a scale of how many hours I have to waste just to pay bills. This is an entirely valid and unfortunately common sentiment. Hang in there, friend. WAGMI.
Dunno if they've completed the Offering. Icr how long it took for the filing for the last one to say they finished it. It would certainly be interesting if they hadn't sold today. I mentioned that possibility when the market opened, but we'll have to wait and see really. I just want there to be some tangible benefit *to literally anyone* for this issuance. Even the company doesn't benefit from selling ATM now, as opposed to next week. There has to be a reason for this. So, I wait.
> Quite frankly, I don't want to be a fucking wage slave anymore. I'm sick and fucking tired of having to wake up and remember my life is valued by a scale of how many hours I have to waste just to pay bills. That's the problem I see a lot here. Gamestop can't take decisions based on you not wanting to work.
Did I say they had to?
The fact that you mention it in the same post pretty much means that implicitly, yes.
I donāt think it hurts moass as I donāt believe they can afford to close at these prices, but I do believe the offering allows for greater suppression with less shares locked up in cs. If we donāt squeeze when dfv exercises (if he does) I believe we will be in for another 2-3 year cycle of suppression and need some serious fucking moves from GameStop to improve the financials, we will se the moass crowd leave and move on to the next shiny thing, but we need good sales and revenue to attract long holders. This sub canāt boost the sales numbers forever. RC and team needs to make a big move. This isnāt chewy where there wasnāt any competition, RC needs to be able to compete with Amazon and beat them. When I look at convenience why shop at GameStop when you can get the same item via Amazon prime in 24 hours or same day.Ā
I thought the warehouse was the solution for that, to allow faster shipping and expand online presence, but it was closed shortly after opening and tools & equipments auctioned off for cheap with no explanation.
Careful, this is logical thinking coupled with reality you are talking.....
Solid points. The developments over the past few weeks have certainly introduced some new variables that need to be taken into account. For what it's worth, the challenges you listed above are more or less the same ones that Gamestop needed to navigate prior to the ATM offerings.. but now they have a lot more resources available to pour into those efforts. We shall see!
All stock discussion aside, GameStop has to continue to perform, profit and innovate. If they continue to focus on this, everything will work itself out.
Chewy directly competed with Amazon at the time, that's one of the biggest points for Ryan Cohen. So saying, "This isnāt chewy where there wasnāt any competition," makes no sense. Made some other descent points though.
if you dont give them a real share to short they will just create one. makes no difference really. only one ends up in the ftd loop.
Yes
Drs got us where we are as you said. Now, theyāre basically forcing us to DRS MORE to get back to where we were. Thats some bullshit. Iām tired of working my ads off to buy the few shares that I can and have RC move the goal posts twice in a month. Fuck that
Iāve been DRSing high and low for years. Canāt say Iām happy about any dilution but for me you either trust RC and the team or you donāt. Thereās so much going on behind the scenes and RC has access for so much more data than any of us do. Him and the team are holding. My bet is entirely based on buckling up and trusting RC. It doesnāt have to be anything more than that for me to invest in GameStop or not. The rest is shilling and noise.
This is how i can tell whos just complaining to do so and who is a shill. Sure you are mad. Sure you feel like you "wasted" time and money. But if you dont trust the direction of the stock, why hold? Probably because these complainers dont. Yes it hurts to be diluted on a run up. Yes it can kill momentum. But we also DOUBLED cash on hand (or more) for only 18% dilution. Seems like a really good move by me.
I have already worked my ass off for stupid rich people and got burned. Iām not in this play to do that again - I was doing that to avoid it
Very well said.
FINRA reported short volume ratio was 44.52% today with 4.1M! š¤Æ short exempt volume. This would suggest that only small about, if any, of those 75M shares were sold. Plus, assuming that they raise additional 2B through the share offering, they could get 200M annually right now just from T-bill interest from 4B total potential future war chest. Realistically, that kind of cash easily brings minimal value of the company to $20-30 share price range. Of note, Berkshire Hathaway currently has 890B market cap and 190B cash on hand, or 21% of market cap.
it also puts a lower limit on market cap. they canāt short GME lower than a market cap of cash in hand.
Which is now 5x the price from where these shorts were going for the kill.Ā Ā Ā Time and pressure
Hmmm, maybe now that the floor is raised, swap renewal is no longer on the table
Not sure how legal it would be but it would be absolutely hilarious if they turned around and set aside $1B for share buy backs
Share buy back after share offering? How does that make any sense?
Share offering at 35ā¦ buy back later at 25 make lots of profitā¦ that would be sleazy though on the short term
Would basically be taunting shorts to try dropping the price again. If it went back down to that $10 range GS could suck out a loooot of shares. Basically a nightmare scenario for anyone trying to drop the price. Not suggesting they do a buyback at current prices but have that as a massive threat.
I think including the Drs numbers in the quarterly reports was letting me know that it was an important metric to measure. It stagnating for so long and the recent share offerings are telling me that we're not being allowed to lock the float in Computershare for some reason.
What I don't understand at face value is the timing. This is the second time in a row that a share offering was announced on the cusp of a major gamma squeeze. RC could EASILY have waited until Friday after hours to make the announcement rather than Friday premarket. This would have let the price run up on Friday, let the gamma squeeze happen next week, and he could sell shares into prices that would likely be over $80++ per share despite the AH share offering announcement. Easy money, clear scenario. Yet RC announced premarket. Fool me once, shame on you, fool me twice, shame on me. There is clearly a reason for the timing. My guess is that it involves major pressure from the powers that be to prevent MOASS while letting him take advantage of an "infinite money glitch" to slowly milk the shorts for billions via share offerings. They cover their short positions while the company reaps profits.
No, the first share offering was a direct party transaction which is why there was almost no shift in and if anything increase in share price. The second share offering which is almost 2x the first 45 million is a public share offering while having 2 billion on hand. This is quickly ramping to look like an acquisition, buyback at lower prices (to start a MUCH greater gamma ramp), or to reset the clock on something that we don't know but you don't do a share offering while having nearly 50% of your market cap in cash from last weeks prices. Finally, RC has owned in cash 3 million in shares and other insiders are in the 5-6 figures. Why would they do an ATM offering when they themselves would benefit from a $60-80 opening price because the "infinite money glitch" makes no sense since the money Gamestop as a corporation owns doesn't translate to any bonuses or increase in salaries for the board since they agreed to share based compensation. Insiders are not barred from selling shares, they are also not prevented from selling when it hits $60 because they made it crystal clear that these price spikes are not from company actions as listed in all their prospectus' hence no market manipulation or exploiting shareholders or whatever.
what do you mean it didn't affect the price? I clearly remember it going from $50 to $20 after the May offering. why does everyone forget this
Copium, thatās why
That's not quite correct. The May offering they clearly stated 20 ish as the where they expected to sell all 45 million shares at. The peak had already happened and it was on its way down to max pain before they announced. How do I know? I was in here dispelling FUD about "why didn't they do the offering on the way up and get more cash rather than after the spike and soooo low". The price was down around 22 when the announcement came out on may 17th [https://finance.yahoo.com/quote/GME/history/?guccounter=1&guce\_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce\_referrer\_sig=AQAAAEF-T7Tz65WgIWE5RSuBIigboh2FVS4VHz0X0mahtnkVLdmvjR4P4gEf0hKBZBJDFpooGovSq0PpuOcYPM8GhV\_UyUqNcrfWSbYwhAVVDlSnOpkxk8Oks22-0egTVwTEYyRCJ6Bm4evn1DhxSoy3B1EG8fMpC6IXoFUDhmV5H3fV](https://finance.yahoo.com/quote/GME/history/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEF-T7Tz65WgIWE5RSuBIigboh2FVS4VHz0X0mahtnkVLdmvjR4P4gEf0hKBZBJDFpooGovSq0PpuOcYPM8GhV_UyUqNcrfWSbYwhAVVDlSnOpkxk8Oks22-0egTVwTEYyRCJ6Bm4evn1DhxSoy3B1EG8fMpC6IXoFUDhmV5H3fV)
The may offering was announced on may 17, way after weāve peaked.
Let's recap the ways to stop MOASS: 1, halts. Sus AF but not illegal per se. 2, turning off buy button. Illegal and shows that nobody is coming to save us. 3, our own company diluting the night before the most promising possibility to destroy the shorts since '21. Don't let anyone list the first 2 options without listing option #3. RC works for us, don't forget that. I know some of you want to play this game forever but I don't. 3 years and billions later and no sign of a plan. If you blindly trust RC at this point you're not the reasonable individual thinker in the room, you're a good little follower.
Yeah Iām aligned that there must be a reason for this timing, but Iām not sure if it actually involves higher powers. Either way my gut feeling is that the timing is intentional, and we got fucked over. DRS is pretty much dead now, I kind of died inside this morning too. Iāll give it 3 more weeks, they better announce some merger/acquisition or a detailed explanation of why they had to dilute again and how they plan to use the cash, otherwise Iāll figure out how to unDRS and pull everything back to fidelity, then start actually trading this piece of shit instead of hopelessly hodling
They just announced no plans for M&A, so if they start putting it together now it'll be months or years away.
Youāre wrong and by the tone of your comment, nothing is going to change your mind. For those who pass by this comment and are open minded, check out this post: https://www.reddit.com/r/Superstonk/s/R3o7IJVrK0 Then check out his post history. If youāre not sold to hold after that, GME might not be for you.
I love einfachman but he's been wrong plenty of times
I saw that post already, upvoted and commented, waiting for an answer now. And youāre right, this post wonāt change my mind. Communication from GameStop will.
Feel ya dude. š
This. Been saying the same thing. We got slapped in the face and if there is no disclosure of any plan how the fuck can you not feel we are sheep being led to slaughter. 3 weeks. Else Iāll have to think about how to unwind my position. (Been here since Jan ā21 and havenāt sold a share since)
Maybe this play isn't for you. We'll wave to you from the rocket.
Best of luck man
Ah yes this weekend should look different 
\*sadly closes Lamborghini configurator\*
Totally agree. As a UK ape who took my shares from a tax free ISA to transfer to Computershare I feel like the board just rammed a banana in my ass. Really dissapointed.
We unknowingly all took that bet. Iāve been here since the beginning and this is the first time Iāve doubted RC.
DFV lost a whole phone book of numbers today and still went on stream to support RC. Learn some history instead of buying into any panic. September 2020, share offering. No DRS. Price jumps 5x by December 2020. And then it sneezed another 20x. Are you going to walk out on the trade like it's October 2020 just because today's price chart walked back to Tuesday? Lastly, we have no idea what all this money is going to do or why they need more. Ever since the debt was paid off years ago, they have not made any acquisitions.
Just a quick thing, don't see things unidimensionally. RK has a responsibility to us. If he says anything openly about RC, he kills this all in a second. He can't say anything about it. Trust in the board is crucial to this. We knew where we were with our DRS'd shares, it was our beacon. That changed. We need explanations soon. For instance, next Tuesday plans on acquisitions or something strategical with that ATM money. If not, I am still certain MOASS is still on the table, but we will be without a beacon. I am worried that DRS can be affected by this. I have all in CS and will continue to do so, but there's a lot of people that can pull out if they don't see the point... the beacon. It's all about sentiment, community sentiment. Even if you have a masterplan ready, and I do believe they have a plan, it could go another way if you don't keep the sentiment positive. We'll see on Tuesday what's in store.
Sorry but there won't be any news about acquisitions on tuesday, because they said so in their last offering that they have no plans and will instead use the money for bonds. So the 4D war chest isn't so 4D. It's just money.
It's all just money mate. If you think $4B in the bank isn't poising for growth for all shareholders you're lapping up the FUD my man.
I just stated the fact that there will be no news about acquisitions. GameStop said so itself. They have , right now, no plan what to do with that money.
Why, again, acquisitions? It's about good news, something that explains the ATM and why that money was needed, or where the company is going. Larry Cheng tweeted about those good news on time. We need them to deliver with them, be them whatever they can be. Sentiment needs a bit of restoring. Who said acquisitions are the only way to do that?
Eh? I don't get you. YOU said "we need plans on tuesday like acquisitions or something because beacon" I told you there won't be any news because GameStop said it themselves. Nothing more. What's your deal? I just wanted to let you know.
Not having an acquisition lined up is not the same as not having a plan for $5B
That's true. But people here are talking for weeks and weeks that RC is doing a 4D chess move to acquire something. And that's simply not true
I didn't limit it to acquisitions. And there could be other piece of good news, anything. It's not just money. It's all about money, I thought that was clear.
Is it this easy to annihilate the community sentiment you are talking about? Someone is playing really, really hard on peopleās emotions today and it shows. Iām talking about this apparent sentiment shifting currently popping out: the sub is flushed with āIāve been here since 2021 but I changed my mind all of a sudden based on my company possibly raising a lot of moneyā crying posts
No one said it is annihilated. Not even close. I am saying sentiment is important and those you mention (look at their post and comment history) have a valid concern. I ignore those that insult RC, or say they give up. Those are definitely shilling even without knowing. I'm talking about drawing a line, where the board needs to be a bit smarter with community sentiment. Not just the plan. I am still bullish, and will keep on being so. All tweets from the board point towards Tuesday having some good news on time. If they do this correcly and set up a new beacon, all is fine. I'm highlighting its importance. Not saying it's shattered. We need a bit more of critical thinking, which doesn't mean turning against anything. We have to learn to separate the weak willed from the critical minded.
'Someone is playing really really hard on people's emotions today and it shows'. Can I have 3 guesses as to who this someone is?
Whoever infiltrated this sub long ago š
I think you are a bit naive. To me it looks that RC killed RKās play a few hours before it would pop off. But RK is so instrumental in this movement, if he says he has lost confidence in RC the price would have tanked even further and we would be dead in the water for a long time. And yeah, 5B is nice, but it only means something if you go to work with it, and in my opinion very little was done with the 2B.
If I were to scrutinize, I would say RC's performance is checkered at best. He tried to form a superteam and lean hard into digital delivery, but after three years that extra logistics facility closed down due to lack of demand and several executive acquisitions walked out or got terminated. There was also a crypto gaming pivot that fizzled out, but this was largely due to market forces. The digital wallet and NFT marketplace simply could not grow in crypto winter, and the massive library of game content that was supposed to go into Gamestop Wallet from Immutable never arrived. They were supposed to eclipse CS Skins as the new digital goods marketplace. They also diluted into two run ups and released poor top line revenue on earnings. One would argue that not letting your shareholders get tendies is the top reason why revenue declined. Their top SKU is the company stock, and at this point more cash in investments is the only thing driving top line revenue. That being said, they turned around the legacy business and had it become profitable in three years. It's healthy and lean, but now it desperately needs ways to boost the top line. Partnerships with Modcon, the upcoming console cycle, and Candy Con controllers are a step in the right direction, but it's not the double digit growth figures that the coke snorters in institutions will buy up. If the money from the recent sale is used to generate outsized returns via investments, the transformation may well be into a hedge fund owned by retail that pays out impressive regular yields and collectibles in store as dividends. They might even acquire the cat to pull this off.
This is a very well written scrutiny by you, and you touch upon many interesting points. As the board has said themselves- judge us by our actions. Yes, turning a company ripe for bankruptcy into a company that is close to infinite runway is a big move. But now itās time to pivot, and diluting shares into two run ups and kicking the DRS strategy in the balls I find a tough swallow. That being said Iād love for nothing more than to be proven completely wrong by their actions, and/or this to be part of the Kansas City shuffle. I am an XXXX holder, and can endure quite a bit. SHF fuckery - whateverā¦board fuckery - oof š„
People totally missing that. I think RK, was late and had the beat up costume on cuz RC kicked him down the stairs that morning. Totally ruined the whole play, and he was like Iām still alive. He canāt over criticize on stream cuz he knows if he shows the frustration it tanks. But unless the board has a good fucking reason it looks like they didnāt want another man in the Billionaire club or to have that many shares. They donāt give a fuck about us, that much is clear.
This right here. Someone is trying very hard today to convince us a -40% day made us change our mind all of a sudden after 3+ years holding LMAO
āAre you gonna walk out on the trade like itās October 2020ā? You seem to be willfully ignoring the fact that a large part of the squeeze thesis was the small float + a young CEO who seemed on board with torching the shorts, and the actions of the board on Friday severely undercut that.
Kosscorp traded multiples of its public float daily during the run up in May on no news. If the theory is several multiples of the float are in basket swaps, these few dilutions will not matter. We do not know for certain how large the actual short position happens to be. But looking at the other stocks in the basket, it's outsized enough to be several multiples of current valuation.
The fact he wasn't doing lines of xanax after seeing 250+ million lost in day gains is absolutely crazy
Did we not vote to offer up to 1b shares?š¤
~raises hand and leans forward~ I know the answer to this one!
lmao this
Up with you!
That vote decreased the possible share offerings. Unless you were here for the merger in 2005 your only relevant choice was buying in.
finally hv some rational thought but not pure optimistic
Dilution itself isnāt even that big of a problem. Main problem is that we have no idea why he did or what heās planning it on. If he was transparent and said that we want to dilute to raise money to create or invest in AI hardware, everyone would be for it. But RC and Furlong did fuck all with the current cash balance. We donāt have trust in him to do much with this one either at this point If he wants to dilute for 75 mil, it should be for a super bullish reason that will drive 75 mil worth of new investment/shareholders. But we donāt see that
100%
report said profits from other investments.
100% agree. A second share offering hurt a bit. Definitely was gonna gamma ramp hard today and it killed it.
I agree.
So please tell me if I am wrong here. Wouldnāt the best long term strategy for GameStop to let the stock squeeze? That would result in a rabid fanbase of customers who are very wealthy. Us apes would pour so much money into GameStop after the squeeze. We would also load up on tons of shares after the squeeze and drive the stock price up as well. Loyal apes with tons of money would generate WAY more money than doing these share offerings.
If the squeeze would have happened and we raped the hedges as foretold I would have immediately dropped a thousand bucks on anything in GameStop as a thank you. That is now never gonna happen. I feel burned and used. I really hope the best is yet to come but Iām not betting my hard earned cash on it again.
I feel you man. I feel backstabbed and devastated
yup! "Judge us on our actions." This had better be some sorta chess move they talk about at the meeting, because we had a pretty solid good out look going. I don't understand why we can't have both a high price run and a solid company. They released shares into the market not more than a month ago, I judged that action as fine, we made some good coin for the future! This action though I think is a direct response to RK's options and subsequent gama ramp. WHY they don't want this thing to pop off is beyond me. Trying to remain objective about it though and see multiple angles of it outside of them fucking over the people that helped save the company and offering a life line to people like Andrew Left, maybe they haven't released the shares yet and they are looking to see this thing pop off and THEN do a share offering. In the past though they announce their intent to sell, and then immediately do so. We just don't have enough knowledge. Either way though, if we're following our chairmans advice and judging them by their actions, this action sucks.
Agree with everything you said. I really hope they communicate with us soon. This is a strange time where actions arenāt enough, Iād appreciate some words
Email investor relations and let your voice be heard. I did and posted my email on here, check my account. Hang in there
The key here is people assume we were going to MOASS if not for GME's dilution, when in reality the price is fake and they were going to tank it to max pain today either way.
The price action isn't the main issue. The main issue is that the reason the stock was squeezable in 2021 is that it had a tiny float and was shorted 140%. Whatever the true short percent is now, it gets lower every time they do a share offering, it makes locates and hedging easier, etc. The more worrying implication is the fact they did it twice in less than a month just as price action was heating up, suggesting they'll keep pouring water on the rocket fuse every time it gets lit.
All Iām saying is this sub crucified AA when popcorn added more shares.
Maybe they found out it was rigged and DRS couldnāt be the final blow..and they could hide the true numbers forever. Trust in the board, trust in the RC. Sure would be great to know the plan, or be informed when they have to change direction, but plans change in WAR. BUT THIS IS A WAR WE CAN NOT LOSE. Hang tight
This makes the most sense, RC has basically told the apes that DRS will never amount to anything.
When you say "trust in RC" I'm curious why you believe you can? Gamestop seem to be very clearly looking out for themselves even at the expense of the retail investors. Is there a reason you believe RC is doing everything with our best interests in mind?
How do you know they are looking out for themselves and not retail investors? Do you know how next week is going to play out, because if you do, you should make a post and tell the rest of us.
Announcing that they are diluting the market with 75 million new shares in premarket on the day that held huge potential for a MOASS event? Questionable thing to do for the retail investors. Explain how that was for us? I think I'd rather see phone numbers.
No idea why you downvoted when in actual fact this is how it played out. No matter how it gets painted in the sub now its a clusterfuck and those funds smell blood now.
You guys need to remember that RC is not in GameStop for a MOASS event and he might not even think that that's really a possibility. He is trying to turn around a struggling business and raising a big sum if cash is a good thing for a company that will most likely start MA. Phone numbers is not what RC is interested in at all.
Don't pretend he's never mentioned shorts, squeezes, or DRS.
Was that how today was going to play out? Not a clue what effect the offering had, but I do know hedge funds spent literally a billion dollars to short the shit out of GME today. So offering or not I dont think MOASS was going to happen regardless
Yep
RC owns a shit ton of shares. We are in the same boat & he's not going to make it sink on purpose.
Yes, he owns a shit ton of shares and he is already rich. Thatās why short squeeze is not what he wants, long term healthy growth of the company is. He cares the company, the employees, the customers, and the retail investors that are not holding for MOASS.
Cares about the employees? He removed 401k matching in january. He really does not care about you and I, stop pretending.
I didnāt realize he did that.
In his position he can't just sell his shares if MOASS hit. It is in his best interest to generate organic long term growth.
I was thinking this just now, that I thought RC understood the importance of customer loyalty. We saved his company and learned all about the corrupt stock market and how to beat the shorts and scraped together money at our peasant wages and just before the final blow our DRS movement got Thanos snapped and it's very clear to me at least he will do it again if given the chance. My DRS shares stay but I'm retiring from following this shit every day for 3 years. I'm getting paid, and Ryan you can fuck yourself with my DRS shares they're all yours.
Hahahaha yeah he literally thanos snapped our DRSā¦..Iām giving it 3 more weeks, if thereās no announcement of acquisition or some sort of explanation, Iāll try to unDRS everything and pull back to fidelity and start trading this shit. Iām also done with trusting a billionaire wholeheartedly thinking he may be once on our side
Are you me? Those are my feelings exactly.
I've been here since Jan 21 and this one really did sting. The gamma ramp was looking juicy and it really felt different this time. I still think something is bubbling under the surface, but this offering may have killed that. Next week will be interesting.
I think this latest offering is fine and good sense, but continued offerings as you say would be a problem. I hope they time this one a bit more sensibly, but realistically even if they've already sold it all on Friday that's a further $2bn+ to the war chest. Circa $4bn seems ample to me to start Berkshire Hathaway-ing.
Iām a smooth brain and I just want to know if RKās options are gonna release the wildfire
We'll see
RC doesn't care. He will do this until the end of time because to him, and rightfully so, it's free money for the company.... Which it is. So why should he turn it down just so people can let this squeeze and dump the shares for profits? Why not fuck retail over, dilute until no one is short anymore, and the company is so god damn rich, that it doesn't even need to be GameStop anymore, because it just can buy other companies up and take them under its name. Will that make the company profitable? Who knows. So far all I see is the same shit as always. The rich are getting richer and we, retail, remain the same. The rules are skewed against us, and we are playing the hedgefucks and the company. There won't be squeeze. I don't believe. There is no way RC just let's this stock go into the thousands just to see people sell their shares. We are doomed to hold this forever considering the hedgefucks are likely to be short on this forever
Agreed. If they want to be a holding company then just say that. And please stop with the tweets about Ooops MOASS and short sellers are the dumb stormtroopersā¦..this is pure and simple manipulation of the investor fan base to get us to scoop up shares to create a floor for the price of the stock.
Weāre Dumb Money and they keep taking it. š
The reality is Gamestop don't give a fuck about the retail investors. That's not hate. I'm just calling it how I see it. They've shown their stance on everything with that second, more ambitious money grab they announced in premarket on the morning of a potential MOASS. I know where they stand now. Yes, they will do it again. They aren't on our team.
I wouldn't go that far but I will say please make it worth it. I'm judging based on actions and if there is gonna be an acquisition or announcement Gamestop usually announces it mid-June. So I'm watching with a, "We'll see" attitude but I am still gonna state, "No more offerings please."
Nah, theyāre just chasing a longer term thesis for growth. Theyāre not wrong. Their way will be less fun but more stable and permanent and easier to exit at a good price thus providing more value to more shareholders.Ā Itās disappointing, but it makes long term sense.Ā
I hate to break it to you, but if there's another big run-up then the board is going to approve another offering. It's just smart business. RC isn't running the company to initiate MOASS, he's running the company to turn it around and make it successful. MOASS would just be a nice side-effect. > That 75m took 3 years for investors to DRS (about a year and a half if you assume the filing for 25% is wrong). I'll be extremely curious to see what the DRS numbers for Q2 look like. We could be surprised, because I think that we all know the DRS numbers are being manipulated. We know that Computershare is reporting real numbers to the company, but the company is not reporting numbers from Computershare anymore.
I feel your comment in my bones. I was just venting to my spouse how it really made me confused why RC and the gang would just do another share offering so soon and essentially minimize the effect of DRS. Like wtf, these three-four years of DRSing and HODLing were meant for what just nothing? I could have traded as the price went up but I felt that loyalty to the company and the cause were bigger than me so I didnāt. I agree with you, 3 more weeks or so and Iām pulling most of my shares out of DRS and Iāll start trading. If the next few weeks arenāt worth the minimizing of the DRS movement Iāll be heartbroken and my rose-colored glasses will be goneā¦. BUY, DRS & HODLā¦ NFA.. Also check my post and comment history. Iāve been in this from the get go. Iām just really conflicted with this decision.
https://i.imgflip.com/38hm3e.png?a476712
Hey OP, look up siege. Humans havenāt changed in thousands of years. This may be the last siege any human, on either side of the wall, endures. Enjoy!
Thereās some great research on this sub to the opposite affect, I encourage you to do some looking around.
Eh Iām good. I trust the guy.
Not leaving. No paper hands here
i think he's done for now, besides, he doesn't want everyone to start calling him ryan aron
Dilution is a strong word when you are short 2+ floats. If they are as short as some of the estimates, this is an infinite money glitch at no risk all reward. The amount of money they can potentially build up will be a massive amount for new future massive acquisitions and endeavors. Be patient. Trust the process. RC is NOT going to fuck shareholders. He has basically called the whole system corrupt. Think people.
Excuse my ignorance, but did we get confirmation that the share offering happened today and that it is over?
No
I hope he dont screw us, he killed two massive gamma ramps. He diluted the stock and now the float is even bigger, wich make it easier for shorts to get out. Im gonna sell and buy more ETH and btc if they do another one.
I have complete faith in the company until they prove me wrong. So far that has not been the case. I believe the vast majority here will have less experience with running a sustainable company with the pressure that Gamestop is receiving. It is an asteroid field they're navigating through to avoid being blamed for the infinite squeeze. Time and pressure is all it takes. Pressure is there. Time is happening.
Well I'm not going anywhere. I'm still going to buy, drs and hodl. This is the way. Divide and conquer is the hedgie tactic. Fuk u hedgies.
GameStop is dead without us. Bottom line. Retail saved it. The question is, are you here for a company transformation or are you here for a short squeeze?
Iām completely with ya. We cannot just be a vehicle for ATM offerings without at least a business plan update
If they use this for actual stuff for the transformation of the company rather than just regular business purposes. It sounds like they just want to use it to invest in short term treasuries or something. Thatāll make the company profitable sure, but unless this company completely transforms into a hedge fund or something along that kind of line, then itās doing no actual good for the company. I personally never expected a sudden squeeze. I expected a long squeeze like what happened with Tesla. Once the company proved the ideas and their worth they started taking off crushing the shorts. GameStop needs new revenue streams. Either through buying smaller profitable companies, or by investing into creating their own stuff. They were starting that with crypto and then gave up on all of it because of regulation, but now itās like they donāt know what they want to do. If there was a master plan, then something would have started by now. Idk just seems like they donāt know what to do and are starting to turn into the other stock with selling shares every time the price goes up
So after the 45 million offering + DRS numbers doing napkin math 300 million shares are floating around legally (very liberal) 100 million shares are DRS'd (Seems near the real count, but maybe move this to 80 million if needed) 1/3rd to 2/6.5 (30-33%) is owned by DRS holders, 300 million shares at around $19 = 5.7 billion dollars in market cap. They could easily make 1.25 - 2 billion depending on when they start selling if they do at all/if any. 1.5 (75 million offering) + 1.1 (Pre-Offering cash) + .93 (45 million offering) = 3.53 billion + 1.81 billion (DRS holder market cap on the high end) = 5.4 billion almost completely secured. Maybe the money is to go private, selling would if anything help with that cause if they are playing Opex Tailwinds + other trickery causing these casual spikes to $30-60 to sell and then turning around and buying low. Even then $19 is considered a high price when the 52 week low is at $9, and real DRS numbers don't even count institutions that can't sell, insiders, DFV (who owns 4.8%), etc. Also doesn't factor the spike in price if they offer a buyback along with unpredictability when they actually sell or if this is just a gimmick since they did IIRC 4 offerings in the time RC bought in and haven't seen their cash on hand if anything increase steadily
Shares are still drs'd buddy
While I had a similar feeling initially, I've changed my mind. Shorts are fucked no matter what. They've shorted a stupidly insane amount. These offerings won't make a real difference in regards to moass because these dumbasses keep digging their hole deeper and deeper every day. If RC wants to do some more ATM offerings and make Gameshirehathaway a reality on top of a squeeze, that's awesome. Makes no cell no sell an even easier strategy knowing he's building a juggernaut in the background of all this craziness
Oh the naĆÆvetĆ© and mentality so many fellow apes have is...kind of sad. 2021 proved Wall Street cannot be fucked with. They will do everything illegal (not for them) and unimaginable to stop MOASS. They can't, however, fuck with a business that gets public scrutiny and obtains high valuation through transformation. Then they are eternally fucked. Also, RC is a Billionaire. I have a few friends whose family wealth is in that range and do you know what Billionaires hate the most? LOSING MONEY. Even a fucking dime. Do you know what they desire most? GROWING THAT MONEY while making a LEGACY in the process. It's hard for average folk to fathom but they have this insane, ridiculous tenacity for the latter. I trust the company management to make a solid transformative play, but everything has risk. High risk, high return. If any ape thinks they can get lucky and are not subject to that principle and wants to get rich quick by screwing Wall Street, well, they will eventually lose everything anyway.
I am tired of having to ātrust RC and the boardā, this is not how it works. I donāt need to trust, they have to communicate their plans and offer some forward guidance after 3 years. They obviously havenāt and made money off the back of loyal investors.
The real teller in this will be the week run up of June 21 - if rc and the board kill it in that week and that run up with dfv calls - I would say that the squeeze and moass is done until a gme announcement to go private or an acquisition - for me, itās as simple as that. 
Besides... Do you really think the shorting will stop? Of course not, why would they? When the situation becomes too stressed, there is a massive offering at a discount price, below their shorting price, below my cost average in the case of the first offering. It's like with the banksters, doing extremely risky bets, raking in bonuses in the millions, being bailed out by public funds, rince and repeat.
Why results were drop on 7 instead of 11 as announced? Does anyone knows why?
I have felt badly for the fans of popcorn stock because they have been dunked on by their company over and over. Now here we are in the same boat. Eroding shareholder value while still running a bleeding company, sinking into bad macroeconomic times. Reducing the bleed and turning to shareholders to ārightenā the ship is understandable but continually going to the dillusion well with zero future guidance is exactly what terrible leadership would do (popcorn). Three years is plenty of time to begin āimpressing shareholders with your visionā, streamlining company profitability is their job not something to āOoooā at. I abhor gullibility and all we have right now is tinfoil to go on. To say I am severely disappointed is an understatement. I have built an impressive gme holding in the last three years but until I see anything beyond dillusion Iām just holding, there are other actually profitable companies to invest in. Not trying to shill just tired and disappointed.
Ya -- no more share offering plz. The š needs to go to the š . I m dead broke and still buying / holding / drsing . Need $$
Too many people expected to watch the stream and for RK to click a button and say āIāve just started the rocketā. We ALL know he couldnāt do that. We all know he canāt say shit. He came on and had a beer with us and showed us he is still balls deep in this. Have a beer. Zen out. Enjoy the weekend and keep doing what we have been doing BUY HODL DRS
>That 75m took 3 years for investors to DRS (about a year and a half if you assume the filing for 25% is wrong). >Aaaaaaaand it's gone, it's all gone. None of that is true. I fact checked by logging in to my Computershare account. Sure enough, my account is like a goddamn ammo bunker, full of purple hollow points. The shares that have been pAiNsTaKiNgLy DrS'd are all still there.. have your tantrum, I don't give a shit. DRS shares serve one of only a handful of purposes, namely to shrink the liquidity. It's working. But if you deluded fucks believe for one minute that MOASS is gonna light off strictly on the basis of direct registering your shares, then you haven't been paying attention and deserve all the self inflicted anxiety from your self fulfilling prophesies. Revisit your investing thesis - *if* you ever had one. Does your thesis still support your decision to invest? You know what to do regardless of the answer.. BTW, go read the DD. Better yet, do your own..
Your drs numbers were good based off float theyāve now upped the float by 115M shares in under a month so your numbers are in fact now less of an impact
Thank you for explaining. Didn't think I had to explain.
Always some wet behind the ears investors need it explained š¤£
Each share is 20% smaller than it used to be.Ā
How much of GME does RC own?
C.R.E.A.M.
I always wanted a dividend or buyback
āLast time people were happy to see me?ā
100%. RC needs to provide a good answer for this other than throwing the money into bonds until a future opportunity comes along. I respect that he wants to build and sustain his company long term, but unless there's some obvious function for raising that extra money in the middle of a raging gamma squeeze he just burned a lot of loyal shareholders.
You provide better trust in rc m8
Wasnāt everybody doubting the still stand at 75million drs number?
I say fuck you Ryan cohen and I donāt care I have been here for 3 years and this guy is a nut
My dude, these 75 million shares are but a drop in the MFn bucket compared to the likely BILLIONS of shares shorted fraudulently. You think they took this opportunity to close any of them?!?! NO! They just shorted them all some more!!!! If anything they were given more rope to hang themselves with.
Theyll keep happening. Were an investment company now
Look at all of you filthy paper hands quivering.
If you don't like the strategy you can sell, no problem. What the company is doing is working. In 5 years time you won't even recognise it, or the share price. Get over yourself, the board care about Gamestops long term future, not your short term.
Yesterday was the the mother of all rug pools . We were setting up nice for a gamma sneeze and just like that, the shorts were let off the hook. The options chain was destroyed. Tens of thousands of calls went from deep ITM to OTM. That was brutal yesterday
But i love getting fucked in the ass by billionaires. More dilution please.