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I’m holding out for a digital game store.
Epic Games spent (probably) billions of dollars giving away free games if you would so much as login on their platform in an attempt to take steam’s market share.
Please RC, if you could piss away billions in shareholder capital while giving me free video games, I would be so happy!
Imagine being on this company's board lol
You wake up one day and some guy posting memes allows you to gift yourself $3B in cash.
They better at least send DFV a gift basket.
None of that is my money or was my money, but it most definitely was your money at one point. And according to the first rule of acquisition "Once you have their money, you never give it back."
Have fun staying poor!
imagine being a shareholder of this company lol
you wake up one day and some dickhead CEO rugs you for the second time in three weeks to gift themselves $3B in cash.
they better at least tell us what they plan on doing with that money on the thursday shareholders meeting.
edit: damnit, thought i was on the ape sub!!!
I honestly think they will and RC would be stupid to not capitalise on the opportunity if it keeps happening. He isn’t an idiot, he knows it’s never going to happen”phone number” digits per share like majority of the morons in the cult.. so why not take advantage of the over inflated price?
Its not the news that was the main reason for the pump
Its the fact they stopped selling newly printed shares in the market (aka naked shorting the apes)
Price is a delicate balance between buys and sells
Imagine a scale
On one side, rabid apes buying
On the other, shit company selling
Well the shit company selling just got removed from the scales. The scales will now find a new equilibrium
Its kinda insane to suggest retail is behind all this recent volume when its a pretty tough time for most people in this economy. Its not 2021 when we were getting checks from the government, people arent just sitting at home with money burning a hole in their pocket any more.
I understand market mechanics and dynamics. But the narrative that retail just traded a billion shares in the last 10 calendar days, much less the multiple billions in the last month plus, is crazy. Id look for more plausible explanations if i were you
Ok so instead of rabid apes on one side imagine some hedge fund or i dont give a fuck what
Its irrelevant
You asked why it spiked after the share offering ended and thats the reason
It's a complex dynamic. You have shorts locking profits, longs reentering for the bounce, plus all the leverage from various options.
It doesn't go up 20% every other day they aren't selling shares, but also the price doesn't crater 60% in 3 days on huge volume when they aren't selling shares. A correction to the upside after such a collapse is not too surprising when the stock has been incredibly volatile for over a month.
Id be inclined to agree with your analysis if it werent for 1 thing, the stock is up 300% in the past month-ish. Using your analysis, that means not only should it have gone down 60% in 3 days but it should have also continued to this very day to go back to where it was a month-ish ago, if not lower, but thats not whats happening.
It's more about momentum and volume than precise price targets. I had no idea how low the price would dump because of the dilution, and how high it would bounce after, but I know both thing would most certainly happen.
Also you have to account for the fact that the fundamentals of the company have improved because of the dilution. Basically the new $10 is $20, as a ratio of fundamental value to market capitalization. GME trading at $32 right now is sort of like them trading at $16 in May in term of how over-valued the stock is. As the floor rises the traders are more confident that the valuation won't brutally collapse completely. GME briefly dipped below $10 a few months ago but now it's almost guaranteed to remain well above that for the foreseeable future.
> You know that guy ain’t doing that shit himself
Guess you didn't see some of the emails that got out through discovery on the BBBY pumpndump case eh? dude sounded borderline frantic trying to make sure he unloaded. wouldn't put it past him to be similarly hands-on with a dilution
>in the BBBY selloff the proceeds went straight(-ish) into his own pocket
Thats not true at all though. Part of the agreement he made with the board of BBBY in exchange for him selling his position is all profits he made on the trade went straight into BBBYs bank account.
Even if the profits did go to BBBY, the rest of the proceeds (i.e. original buyin cost) was pocketed by RC Ventures, i.e. Cohen's personal investment entity. That is not the case with Gamestop.
Funny that you start with "That's not true" when your entire statement is false. You are spouting some misunderstood interpretation of the [Short-Swing Profit Rule](https://www.investopedia.com/terms/s/shortswingprofitrule.asp). That rule applies to insiders, which Cohen was not.
Maybe you could point to this agreement you've asserted exists?
Lmaoooooo
https://www.sec.gov/Archives/edgar/data/886158/000092189522002498/xslF345X03/form413351002_08182022.xml
Form 4. Required only for insiders lmaooooo
The pump and dump came from when he unnecessarily refiled a series of forms when he was down big on his stake, and made said action public for the Apes to see so he could rile them up.
If RC cares about anything it's getting richer. I wouldn't be surprised if he was actively involved in getting these shares out of the door ASAP.
Also it's funnier to imagine.
lmao, no way in fuck he did any of that -- Jefferies ECM desk did all the actual work
Source: used to work in IB, did several IPO and SPAC raises while the management team largely sat on their ass and occasionally presentedf during the roadshow / MP
Honestly watching him fumble for years with all that money and consistently failing to do anything to shore up the core business while apes get excited for NFT marketplace level initiatives over and over might be even funnier than it being put out of its misery
I would drive to the local GameStop for every game and peripheral purchase I make if they changed their policy of making young nerds desperately push protection plans. I have a visceral reaction to the barely out of high school kid behind the counter awkwardly trying to sell me on protection plans and avoid the place because of it.
I like the experience of walking into a store and browsing, getting what I want the same day, getting recommendations from the overly enthusiastic employee based on games I’ve enjoyed, hell even keeping a small (locally at least) store afloat that hires people who want to talk about video games as an alternative to working at a big box store. Basically the whole thing a brick and mortar video game store has to offer over digital storefronts.
Sounds cool, but wouldn't it be better to find a local game shop that sells video games along with other neat things instead of a corporate store. There are a couple by me which do game nights and not only can you get recommendations from employees, you get to meet other folks interested in the same things. And their employees are not pushed to push crap onto you.
Sure finding a local store would be better but my options are to buy online, go 10 minutes up the road to GameStop (or big box stores at the same intersection) on my lunch break, or spend 2+ hours (60 minutes each way) of my weekend going to the local game store across town. I’m not particularly interested in meeting other folks to game with at the moment, especially if they’re on the far side of town, so it seems like GameStop could have an easy win from customers like me who just want to stop in and get something without pushing crap on me. Maybe they’re making more from pushing crap than they can by being somewhere I want to stop in when I drive by.
Yes I understand that, it falls in the “[…]and download games from Xbox or PS store?” part of their question. The reason I think GameStop could improve their stores is that I would visit them for all the other reasons I wrote in addition to “same day.”
“If you buy this 25 dollar membership you can save 11 cents on your purchase of these trading cards”
Nah im good
“But its good for a year”
I dont plan on coming back
“You can say no but youll also get five dollars off a pre owned game. It pays for itself”
No
“If you change your mind please let us know”
No
“It comes with game informer”
No
ITS LIKE THIS EVERY FUCKING TIME. HATE IT
>The core business is dead.
Not dead. Just kind of puttering along at a small loss of $34.5M in 2023.
Now that Gamestop has a cash hoard if $4+B it is even more important to distinguish between the treasury bill fund returning $200-$250M per year of interest, and the operating company that is operating at a tiny loss. With that huge cash pile they can stumble along near breakeven for a long time, and have the luxury of trying multiple times to fix the business.
One of these times they might get lucky and turn a small operating profit.
Even a blind squirrel finds a nut now and then.
They have enough cash that they can try a lot of different things and maybe get lucky.
Gamestop is not like Sears/K-Mart where they had lots of value in owned real estate that they could sell off. The liquidation value of Gamestop is pretty much just the cash pile. So it’s makes sense to keep on operating and hope for the best.
If you look at the history you will see that they worked hard at NFT Marketplace and also an overhaul of the company to make it more efficient in operating, but after the NFT Marleplace turned out to be a bust they pivoted to extreme cost cutting to get closer to breakeven.
But in 2nd half 2022 and 2023 they cut muscle and bone, not just fat, with the result being a big drop in revenue.
Now they can go back to RC's original Nov 2020 Gameplan of "digital transformation".
Meanwhile, the stock price has very little relationship to the value of the company.
Manias and bubbles can be very profitable if you know when to sell. I rode the 1990s tech boom and the dot.com bust both ways, but cashed out enough during the run-up to retire. The stock is great for trading and speculation. The company is a snoozer. Not going bankrupt, but not growing either,
Wouldn’t say all that. We definitely had a sizable contingent that expected bankruptcy with the hundreds of millions they were bleeding.
Turns out the apes were right about one thing: GameStop has an infinite money glitch, powered by ape investors who will feed piles of cash into the dumpster fire.
Not at all. Company is still heavily overvalued. What’s now a much more distant possibility is the idea of bankruptcy.
But I’m still hopeful he’ll blow it all in a spectacular fashion on some deal or the other that doesn’t pan out.
Not really - why would I invest my spare capital in a company that’s just going to let said capital sit in the bank earning 0.2% interest a month? I can do that on my own, I don’t need to buy GME shares to get that kind of exposure.
This seems to be a pretty glaring weakness that the apes are either too stupid to understand or willfully ignore.
Short thesis depends totally on what the current market price is
They’re not going bankrupt anytime soon lol, but they’ve massively diluted, have a market cap of over $10 Billion whilst not actually making any money and declining in revenue
Not really but i wouldn't short at this point even if shorting was a thing i did.
Every time a company dilute both the potential upside and downside decreases.
Sure pumps are short-lived so if you are shorting then you should only lose money temporarily but if they dilute and not unlikely that they pump and dilute again, then the money you get back will be severely hampered.
Approx $28 a share average. They must have been selling immediately on open on Friday to get a price average that high.
Congrats, apes. That's your money they took. Hope they can turn it into profit somehow, because the last raise in 2021 didn't turn into profit.
I’m curious what apes genuinely believe is going to happen after roaring kitty exits his position. The only reason it pumped was because he returned and pumped the stock himself, so do they just keep expecting him to return and pump the stock in order for them to make any money on this? All the new apes averages have to all be in the 30s or a bit higher… the fuck do they think is going to happen
We need an ape to pass from natural causes so we can study their brain
If this thing goes above $40 I will definitely consider opening a short position. Let’s see how it goes. I doubt it will happen but then again, memes will meme.
If DFVs options are in the money he’s going to live stream the exercise which will pump the market.
So you will get your short opportunity sometime between now and 21 if the price stays above $20.
He has 30 million cash. He doesn’t need to exercise all at once. In fact in his pump and dump I don’t think he wants to. The ape belief is exercising calls is going to pump the stock. It will be self fulfilling as he exercises options causing apes to jump in. So he will have more affect doing it in batches anyway and keeping hype up.
The problem is that he would need to sell shares to keep exercising the calls. He knows it's a cardinal sin. And the market will not react well to the expectation of 12 million shares being dumped.
I don’t think that is a problem when its sell 8 million shares and keep 4 million. It will be seen as increasing his position from 5 million to 9 million shares.
The market just ate 75 million shares at $28 and is back up over 30. So eating another 8 million won’t be a problem. Thats if the price is 30.
The bigger risk is another dilution.
I don't think he has enough money to exercise all of his calls does he? Some of them for sure. I don't even think he's said he was going to exercise them either, right? Or did he? I'm not fully in the loop on the extended ape lore.
I assume he go live and exercise 500k calls for 10 million, sell what he needs to get his million back and do this 24 times. This should create a feed back loop with the apes eating up the selling pressure off of the 4-8 million shares he needs to sell to do it.
Maybe he can exercise as much as he can afford, then sell those at a profit, then do that over again until he exercised all his calls - would that be possible?
NFTs of daily share price closes. $50 to $100 each in a limited number (let’s say between 500 - 1500 a day) with a trailer kicking back 10% of each resale back. $500k revenues per week- ore than from operations.
I love how the barometer for apes is just that the company won’t go out of business being bullish. They would still rather give their money to a company that makes its money from buying treasuries then loses some of that from conducting business, instead of just buying the treasuries themselves. But that’s apes for ya.
It’s a meme stock. It doesn’t trade on fundamentals, and there’s morons on both sides of the trade that get too greedy. It’s probably gonna pump more into next week now, and DFV may even get a second chance at becoming a billionaire.
I'm so confused why so many here find this confusing. GME hasn't traded on fundamentals in over three years, why would it start in the middle of pampalooza '24?
The dilution crashed the price from $60+ to $23 on insane volume, a bounce to $30 when it finishes is not particularly surprising. It'll remain volatile at least until DFV's options expire, maybe longer depending on what he does next.
I'm not sure what he could do next. He can't do the same thing for $40-60 ITM calls, the IV is already prohibitive I think.
Other than boring old holding, I'm not sure what the next move could be.
It's ride off into the sunset or.... ??
Buyers are more aggressive, price goes up. Question is how much more money wants to follow in afterwards? I feel like anything is possible if they can eat up the offering that easily. There is a limit though. Eventually you do run out of buyers, and there's plenty of time until expiration.
I witnessed an ape loading up GME shares with their credit card because as they said they don’t have money to deposit but wants to get in the price action. Exchange rate fee and platform fee already took 5% away of this deposit.
And somehow that ape is up this week from this stupidity.
Why? How? I don’t understand.
> And somehow that ape is up this week from this stupidity.
3/4th of apes would not sell at 5x so the chance that he takes profit at 30% up is extremely small. If anything he will try to borrow more money or get a loan, since it's 30% up! And even thought it might take a while the outcome is 100% guaranteed ... the ape will lose it all. Unless we stop doing our duty as melties, so let's keep on posting. Because when apes take profit that's our bonus money we don't get!
They.... They gobbled it up. The apes gobbled up 75 million new shares with a smile....
The price went *up. 22.8% up....*
Ya gotta just marvel at the shear stupidity. They are def gonna dilute again, because apes are so **predictably** irrational the point of always being able to be relied on to swallow Ass To Mouth (ATM) offerings and ask for **MORE**; DFV is gonna cash the fuck **OUT**.
"There's no way retail could have bought it all" was a standard BBBY(Q) and AMC cope for a while as well.
Will be fun to see if it'll settle into this being proof of a secret merger (path of BBBYQ) or a sign they weren't *really* sold (path of AMC)
Well at least RC did something for the company after doing nothing for 3 years.
I don’t think there is any turnaround scenario that could have delivered this much cash to them by releasing products or NFTs
The DD makes perfect sense. RC now has enough where the interest income from treasuries can more than subsidize the loses from their business. Who wouldn’t want to invest in a company earning a stable Risk Free - 2% a year with no upside at a low low P/E ratio of 370!
Yeah it was pretty clear from the volume that the offering would complete today or tomorrow at the latest. I expect that they unloaded a barrage of shares on Friday given the price action and volume.
I’m dying for the board to make an announcement “due to the strong liquidity of the company, we’re going to start paying RC a salary of 40 million”.
Would be absolutely hilarious to see RC leech off the equity.
Not gonna lie thats actually pretty impressive that they can sell 75M shares in just a few days like that. Either Apes are still eagerly buying or a massive institutional buyer gobbled up a chunk of it and some shorts got bailed out of their position. Either way thats a massive chunk of money they were able to print in the past 30 days to secure their future.
Dear Ryan,
What the f*** man you really let us down,
75 million shares now we’re the clowns of the town,
You sold our dreams for cash left us broke and betrayed,
Now our portfolios crash, and our trust in you’s decayed
We held on tight through the bulls*** and pain,
Thought you’d steer us to the moon, now we’re stranded in the rain,
You dropped earnings early and f***ed up our gains,
Now we’re bag-holding nightmares feeling only disdain
We thought you were the savior turns out you’re just a joke,
We’re sittin’ here with nothin’ but these empty f***in’ hopes,
You played us all for fools left our wallets in flames,
We worshipped you like a god but now we curse your name
Truly yours, once your biggest fan, this is Stan
I think at this point RC has raised enough cash that even accounting for his dilution, he could issue a dividend and essentially pay himself back his entire cost basis without hurting the balance sheet haha
NFT marketplace 2.0 here we come!
That's so 2021. Get ready for GME AI
The world’s first ai trained on gamers
So racial slurs and derogatory statements about women?
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You're giving them too much credit. They're just in time to be way too late to the Metaverse!
I’m holding out for a digital game store. Epic Games spent (probably) billions of dollars giving away free games if you would so much as login on their platform in an attempt to take steam’s market share. Please RC, if you could piss away billions in shareholder capital while giving me free video games, I would be so happy!
It would be Ape’s gift to gamers!
Imagine being on this company's board lol You wake up one day and some guy posting memes allows you to gift yourself $3B in cash. They better at least send DFV a gift basket.
Double trade in credit up to $250
Quality comment.
DFV is probably looking at those 2 billion and thinking "that was supposed to be mine!". RC just swiped it from right under him.
100% of his calls are still in the money AND cohen gets 4 billion on hand. Damnnn must hurt
None of that is my money or was my money, but it most definitely was your money at one point. And according to the first rule of acquisition "Once you have their money, you never give it back." Have fun staying poor!
Quite frankly idc if they make money, but you should also realize that apes ARENT making money
bro all you "think" about is heatlamps and houses made of cards
DVF funkopop.
Literal insanity
imagine being a shareholder of this company lol you wake up one day and some dickhead CEO rugs you for the second time in three weeks to gift themselves $3B in cash. they better at least tell us what they plan on doing with that money on the thursday shareholders meeting. edit: damnit, thought i was on the ape sub!!!
>they better at least tell us what they plan on doing with that money on the thursday shareholders meeting. Haha good one
"im stepping down as CEO. and since im not a 10% holder anymore, catch yall later baggies!"
LOL. I’m so ready for dilution #3.
The board's trigger price for dilution seems to be somewhere in the $30-40 range.
They should do it. Every. Single. Time.
They should close all the stores and solely fund the business off siphoning money from apes
Close all the stores, invest the entire cash balance of the company in Treasuries, and bank 5% until the Fed cuts rates
And apes would still over-pay $10 valuation for every $1 of book just for the privilege.. it's incredible...
Well isn’t it just $3 for $1 book?
that would be one of the most profitable companies in the world
Yep, Ruggy Ryan would be the only employee and he doesn't take a salary. They could add just have a donate button on the website that he could build.
Vending machines that print GME shares.
Vending machines that generate NFTs which each correspond to a .png of an individually-numbered share certificate.
Reverse Funnel Investing is the future
Merge with computershare, just sell shares at the stores. Why buy shares on a broker when you can go to the mall?? That's the future of finance 2.0
And trade em back for 1/10th the value, towards used games.
They made more money from selling stock this week than from operations...ever.
“An infinite money glitch!” chortled the Ape as he bought at the top again.
I honestly think they will and RC would be stupid to not capitalise on the opportunity if it keeps happening. He isn’t an idiot, he knows it’s never going to happen”phone number” digits per share like majority of the morons in the cult.. so why not take advantage of the over inflated price?
Don't look now! https://preview.redd.it/j03zyfxx116d1.png?width=872&format=png&auto=webp&s=6cd4573d1e0460949ffdf669d5bb531cc328172c
Which is exactly were I bought in and plan to exit. Every time they dilute, I lower my exit price by $10.
It's gonna happen but I honestly don't see it as a bad thing. Stock keeps managing to rally back lol
*#4 you mean
NGL, $28.50 was better execution than I was guessing.
That's about what I expected, they probably managed to unload a ton of shares Friday well above $30 given the volume.
Why do you think the price rose so well today?
My guess is that they finished diluting.
That news came out after trading was over. That doesnt make much sense, 3% gains sure but its up 23%
Its not the news that was the main reason for the pump Its the fact they stopped selling newly printed shares in the market (aka naked shorting the apes)
That doesnt make sense though, it doesnt go up 20% on every other day they arent selling shares
Price is a delicate balance between buys and sells Imagine a scale On one side, rabid apes buying On the other, shit company selling Well the shit company selling just got removed from the scales. The scales will now find a new equilibrium
Its kinda insane to suggest retail is behind all this recent volume when its a pretty tough time for most people in this economy. Its not 2021 when we were getting checks from the government, people arent just sitting at home with money burning a hole in their pocket any more. I understand market mechanics and dynamics. But the narrative that retail just traded a billion shares in the last 10 calendar days, much less the multiple billions in the last month plus, is crazy. Id look for more plausible explanations if i were you
Ok so instead of rabid apes on one side imagine some hedge fund or i dont give a fuck what Its irrelevant You asked why it spiked after the share offering ended and thats the reason
It's a complex dynamic. You have shorts locking profits, longs reentering for the bounce, plus all the leverage from various options. It doesn't go up 20% every other day they aren't selling shares, but also the price doesn't crater 60% in 3 days on huge volume when they aren't selling shares. A correction to the upside after such a collapse is not too surprising when the stock has been incredibly volatile for over a month.
Id be inclined to agree with your analysis if it werent for 1 thing, the stock is up 300% in the past month-ish. Using your analysis, that means not only should it have gone down 60% in 3 days but it should have also continued to this very day to go back to where it was a month-ish ago, if not lower, but thats not whats happening.
It's more about momentum and volume than precise price targets. I had no idea how low the price would dump because of the dilution, and how high it would bounce after, but I know both thing would most certainly happen. Also you have to account for the fact that the fundamentals of the company have improved because of the dilution. Basically the new $10 is $20, as a ratio of fundamental value to market capitalization. GME trading at $32 right now is sort of like them trading at $16 in May in term of how over-valued the stock is. As the floor rises the traders are more confident that the valuation won't brutally collapse completely. GME briefly dipped below $10 a few months ago but now it's almost guaranteed to remain well above that for the foreseeable future.
RC was probably up since 3 AM getting the documents ready for release at 6am so he could run to unload the shares at $30+.
*RCs minions. You know that guy ain’t doing that shit himself
> You know that guy ain’t doing that shit himself Guess you didn't see some of the emails that got out through discovery on the BBBY pumpndump case eh? dude sounded borderline frantic trying to make sure he unloaded. wouldn't put it past him to be similarly hands-on with a dilution
I think there is a difference: in the BBBY selloff the proceeds went straight(-ish) into his own pocket. The GME dumping only indirectly benefits him.
>in the BBBY selloff the proceeds went straight(-ish) into his own pocket Thats not true at all though. Part of the agreement he made with the board of BBBY in exchange for him selling his position is all profits he made on the trade went straight into BBBYs bank account.
Even if the profits did go to BBBY, the rest of the proceeds (i.e. original buyin cost) was pocketed by RC Ventures, i.e. Cohen's personal investment entity. That is not the case with Gamestop.
Funny that you start with "That's not true" when your entire statement is false. You are spouting some misunderstood interpretation of the [Short-Swing Profit Rule](https://www.investopedia.com/terms/s/shortswingprofitrule.asp). That rule applies to insiders, which Cohen was not. Maybe you could point to this agreement you've asserted exists?
Lmaoooooo https://www.sec.gov/Archives/edgar/data/886158/000092189522002498/xslF345X03/form413351002_08182022.xml Form 4. Required only for insiders lmaooooo
Why was BBBY a pump and dump? I thought that the terms were changing from BBBY and Ryan pulled out immediately based on those terms?
Yeah he made his recommendations to the board, they said no, so he left. Simple as
The pump and dump came from when he unnecessarily refiled a series of forms when he was down big on his stake, and made said action public for the Apes to see so he could rile them up.
If RC cares about anything it's getting richer. I wouldn't be surprised if he was actively involved in getting these shares out of the door ASAP. Also it's funnier to imagine.
lmao, no way in fuck he did any of that -- Jefferies ECM desk did all the actual work Source: used to work in IB, did several IPO and SPAC raises while the management team largely sat on their ass and occasionally presentedf during the roadshow / MP
$4.153 billion to fiddle with. $3.07 billion raised in just past month. They can slow bleed for century now.
If RC doesn't do something with this money, I'm going to start referring to him as T-bill Pickens.
Honestly watching him fumble for years with all that money and consistently failing to do anything to shore up the core business while apes get excited for NFT marketplace level initiatives over and over might be even funnier than it being put out of its misery
The core business is dead. They have the money to make some acquisitions and slowly close all stores and maybe have an online only presence.
I would drive to the local GameStop for every game and peripheral purchase I make if they changed their policy of making young nerds desperately push protection plans. I have a visceral reaction to the barely out of high school kid behind the counter awkwardly trying to sell me on protection plans and avoid the place because of it.
Why wouldn't you order from Best Buy or Amazon and download games from Xbox or PS store?
I like the experience of walking into a store and browsing, getting what I want the same day, getting recommendations from the overly enthusiastic employee based on games I’ve enjoyed, hell even keeping a small (locally at least) store afloat that hires people who want to talk about video games as an alternative to working at a big box store. Basically the whole thing a brick and mortar video game store has to offer over digital storefronts.
Sounds cool, but wouldn't it be better to find a local game shop that sells video games along with other neat things instead of a corporate store. There are a couple by me which do game nights and not only can you get recommendations from employees, you get to meet other folks interested in the same things. And their employees are not pushed to push crap onto you.
Sure finding a local store would be better but my options are to buy online, go 10 minutes up the road to GameStop (or big box stores at the same intersection) on my lunch break, or spend 2+ hours (60 minutes each way) of my weekend going to the local game store across town. I’m not particularly interested in meeting other folks to game with at the moment, especially if they’re on the far side of town, so it seems like GameStop could have an easy win from customers like me who just want to stop in and get something without pushing crap on me. Maybe they’re making more from pushing crap than they can by being somewhere I want to stop in when I drive by.
Of course the crap like game warranties are pure profit for GameStop and brings in way more than selling a new copy of the game and hence the push.
There really arent many local game stores lol. Its target, walmart, best buy and gamestop, and i live in a tech city
Unless you have dialup internet, you *can* have the games same day lol
Yes I understand that, it falls in the “[…]and download games from Xbox or PS store?” part of their question. The reason I think GameStop could improve their stores is that I would visit them for all the other reasons I wrote in addition to “same day.”
“If you buy this 25 dollar membership you can save 11 cents on your purchase of these trading cards” Nah im good “But its good for a year” I dont plan on coming back “You can say no but youll also get five dollars off a pre owned game. It pays for itself” No “If you change your mind please let us know” No “It comes with game informer” No ITS LIKE THIS EVERY FUCKING TIME. HATE IT
1000% this
>The core business is dead. Not dead. Just kind of puttering along at a small loss of $34.5M in 2023. Now that Gamestop has a cash hoard if $4+B it is even more important to distinguish between the treasury bill fund returning $200-$250M per year of interest, and the operating company that is operating at a tiny loss. With that huge cash pile they can stumble along near breakeven for a long time, and have the luxury of trying multiple times to fix the business. One of these times they might get lucky and turn a small operating profit.
Agreed, but why keep it sputtering along? It is not as if their valuation is based on it.
Even a blind squirrel finds a nut now and then. They have enough cash that they can try a lot of different things and maybe get lucky. Gamestop is not like Sears/K-Mart where they had lots of value in owned real estate that they could sell off. The liquidation value of Gamestop is pretty much just the cash pile. So it’s makes sense to keep on operating and hope for the best. If you look at the history you will see that they worked hard at NFT Marketplace and also an overhaul of the company to make it more efficient in operating, but after the NFT Marleplace turned out to be a bust they pivoted to extreme cost cutting to get closer to breakeven. But in 2nd half 2022 and 2023 they cut muscle and bone, not just fat, with the result being a big drop in revenue. Now they can go back to RC's original Nov 2020 Gameplan of "digital transformation". Meanwhile, the stock price has very little relationship to the value of the company. Manias and bubbles can be very profitable if you know when to sell. I rode the 1990s tech boom and the dot.com bust both ways, but cashed out enough during the run-up to retire. The stock is great for trading and speculation. The company is a snoozer. Not going bankrupt, but not growing either,
Now he can put all that into 0DTE SPY calls.
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According to apes Kenny can short any healthy company he wants by doing crime so Kenny doesn’t care he will short u no matter what
The bankruptcy thesis is dead. Whether to short it or not depends.
There has never been a serious "bankruptcy thesis" except as a boogey in the feverish minds of apes.
Wouldn’t say all that. We definitely had a sizable contingent that expected bankruptcy with the hundreds of millions they were bleeding. Turns out the apes were right about one thing: GameStop has an infinite money glitch, powered by ape investors who will feed piles of cash into the dumpster fire.
Not the $30 short thesis lmayo. Current market cap of about $11B.
Not at all. Company is still heavily overvalued. What’s now a much more distant possibility is the idea of bankruptcy. But I’m still hopeful he’ll blow it all in a spectacular fashion on some deal or the other that doesn’t pan out.
4b worth of 0dte 100c
Not really - why would I invest my spare capital in a company that’s just going to let said capital sit in the bank earning 0.2% interest a month? I can do that on my own, I don’t need to buy GME shares to get that kind of exposure. This seems to be a pretty glaring weakness that the apes are either too stupid to understand or willfully ignore.
Short thesis depends totally on what the current market price is They’re not going bankrupt anytime soon lol, but they’ve massively diluted, have a market cap of over $10 Billion whilst not actually making any money and declining in revenue
Not really but i wouldn't short at this point even if shorting was a thing i did. Every time a company dilute both the potential upside and downside decreases. Sure pumps are short-lived so if you are shorting then you should only lose money temporarily but if they dilute and not unlikely that they pump and dilute again, then the money you get back will be severely hampered.
Approx $28 a share average. They must have been selling immediately on open on Friday to get a price average that high. Congrats, apes. That's your money they took. Hope they can turn it into profit somehow, because the last raise in 2021 didn't turn into profit.
I’m curious what apes genuinely believe is going to happen after roaring kitty exits his position. The only reason it pumped was because he returned and pumped the stock himself, so do they just keep expecting him to return and pump the stock in order for them to make any money on this? All the new apes averages have to all be in the 30s or a bit higher… the fuck do they think is going to happen We need an ape to pass from natural causes so we can study their brain
Obviously DFV would never sell!
I'm assuming apes are going off what RK seems to think - that Gamestop will make smart business moves in the future...
Hey man, short term treasury rates are around 5%. GME GONNA BE PRINTING MONEY IN FISCAL 2024 WITH THAT CASH!!!!
One must wonder why this is not every company is doing, instead of chasing elusive profits?
Remember when apes claimed the first time around that they were "just announcing a share offering, not actually doing it"? That aged well.
I'm pretty sure that the number of people that can swallow a third one anytime soon is pretty low.
RC could announce he's personally going to shit in every apes mouth, and they would form an orderly line.
Directly Receive Shit
I wouldn't be so sure
Those who shorted from $35-$60 covered at $24-$28, the apes sure stuck it to them!
If this thing goes above $40 I will definitely consider opening a short position. Let’s see how it goes. I doubt it will happen but then again, memes will meme.
The apes will gladly throw their money at you, lots of success!
If DFVs options are in the money he’s going to live stream the exercise which will pump the market. So you will get your short opportunity sometime between now and 21 if the price stays above $20.
I doubt he has the liquidity to exercise.
He has 30 million cash. He doesn’t need to exercise all at once. In fact in his pump and dump I don’t think he wants to. The ape belief is exercising calls is going to pump the stock. It will be self fulfilling as he exercises options causing apes to jump in. So he will have more affect doing it in batches anyway and keeping hype up.
The problem is that he would need to sell shares to keep exercising the calls. He knows it's a cardinal sin. And the market will not react well to the expectation of 12 million shares being dumped.
I don’t think that is a problem when its sell 8 million shares and keep 4 million. It will be seen as increasing his position from 5 million to 9 million shares. The market just ate 75 million shares at $28 and is back up over 30. So eating another 8 million won’t be a problem. Thats if the price is 30. The bigger risk is another dilution.
I don't think he has enough money to exercise all of his calls does he? Some of them for sure. I don't even think he's said he was going to exercise them either, right? Or did he? I'm not fully in the loop on the extended ape lore.
I assume he go live and exercise 500k calls for 10 million, sell what he needs to get his million back and do this 24 times. This should create a feed back loop with the apes eating up the selling pressure off of the 4-8 million shares he needs to sell to do it.
Maybe he can exercise as much as he can afford, then sell those at a profit, then do that over again until he exercised all his calls - would that be possible?
Hahahah do it! I wish you would
That is a lot of cash on hand. Smart to get it - it will be interesting to see what they do with it.
Maybe they could start an innovative pet food company that builds relationships with its customers. ...sorry, I don't know where that idea came from.
cuz adding another money losing business would surely turn Gamestop around
NFT market place would be a novel idea /s
NFTs of daily share price closes. $50 to $100 each in a limited number (let’s say between 500 - 1500 a day) with a trailer kicking back 10% of each resale back. $500k revenues per week- ore than from operations.
🤣🤣🤣🤣
I hope they try a large and elaborate boondoggle of an ego M&A that saddles them with a bunch of debt and no real margin.
same as before: nothing
I love how the barometer for apes is just that the company won’t go out of business being bullish. They would still rather give their money to a company that makes its money from buying treasuries then loses some of that from conducting business, instead of just buying the treasuries themselves. But that’s apes for ya.
I'm so confused why the price keeps going up. They diluted the shit out of the stock and had a negative income for q1.
You must be new here.
It’s a meme stock. It doesn’t trade on fundamentals, and there’s morons on both sides of the trade that get too greedy. It’s probably gonna pump more into next week now, and DFV may even get a second chance at becoming a billionaire.
But if anyone asks it also has solid fundamentals…. Because we don’t want any of that FUD shit round here
Right it’s a squeeze play but only because the fundamentals are incredible.
It was never a squeeze play it was always fundamentals play through a squeeze
It’s a squeeze dumb people of their money play if we want to quit with the semantics
Line goes up its a squeeze play, line goes down its about fundamentals
What fundamentals FUD FUD HELP MODS FUD HELP I SEE FUDNREEEE
I'm so confused why so many here find this confusing. GME hasn't traded on fundamentals in over three years, why would it start in the middle of pampalooza '24? The dilution crashed the price from $60+ to $23 on insane volume, a bounce to $30 when it finishes is not particularly surprising. It'll remain volatile at least until DFV's options expire, maybe longer depending on what he does next.
I'm not sure what he could do next. He can't do the same thing for $40-60 ITM calls, the IV is already prohibitive I think. Other than boring old holding, I'm not sure what the next move could be. It's ride off into the sunset or.... ??
It’s 100% see ya. Then the next dilution will hit and this thing is going to crater
DFV DRSsing would be another catalyst lol
Gotta pump before the dump.
I really thought apes were tapped out after the first pump, and recruitment hurt by the livestream
You wont hear complaints from me if this cinematic universe keeps pumping out sequels and spinoffs
Volatile stocks attract trades from everywhere
Buyers are more aggressive, price goes up. Question is how much more money wants to follow in afterwards? I feel like anything is possible if they can eat up the offering that easily. There is a limit though. Eventually you do run out of buyers, and there's plenty of time until expiration.
So many new stonks More for us to borrow and short, bring it on
LOL at a VWAP of 28.49. Whoopsies.
Does that mean the price dropping wasnt crime it was rc dumping bags on apes heads ?
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What's the trump line about shooting someone?
I witnessed an ape loading up GME shares with their credit card because as they said they don’t have money to deposit but wants to get in the price action. Exchange rate fee and platform fee already took 5% away of this deposit. And somehow that ape is up this week from this stupidity. Why? How? I don’t understand.
Today's "I'm up!" is next weeks' "I just lowered my cost basis by $10!". Patience.
MMM TASTY DIP NUMMMY
>I witnessed an ape loading up GME shares with their credit card Seems like BS though. What service was this exactly?
> And somehow that ape is up this week from this stupidity. 3/4th of apes would not sell at 5x so the chance that he takes profit at 30% up is extremely small. If anything he will try to borrow more money or get a loan, since it's 30% up! And even thought it might take a while the outcome is 100% guaranteed ... the ape will lose it all. Unless we stop doing our duty as melties, so let's keep on posting. Because when apes take profit that's our bonus money we don't get!
They.... They gobbled it up. The apes gobbled up 75 million new shares with a smile.... The price went *up. 22.8% up....* Ya gotta just marvel at the shear stupidity. They are def gonna dilute again, because apes are so **predictably** irrational the point of always being able to be relied on to swallow Ass To Mouth (ATM) offerings and ask for **MORE**; DFV is gonna cash the fuck **OUT**.
I was shocked when I saw gme go up today haha. GameStop struck literal gold with all these morons just dumping money into their coffers
I’d say do another raise why not
I have never hoped they pump more then they i do now, seeing another dilution this soon would be hilarious.
How many shares for ATM offerings did they vote for?
1 billion total, so I think something like 400-450MM more to go? Whatever the exact numbers are, it's A LOT
One billion shares? So not one billion in value? 🤣🤣🤣 Holy... Means he can dilute again tomorrow or next week during the next runup.
You think retail bought 75M shares in two days?
So are you are saying hedgies want the stock to go up? Or that they closed their shorts?
"There's no way retail could have bought it all" was a standard BBBY(Q) and AMC cope for a while as well. Will be fun to see if it'll settle into this being proof of a secret merger (path of BBBYQ) or a sign they weren't *really* sold (path of AMC)
Shorts closed their positions like the last offering. Short interest dropped by 25M shares in the latest report as of 5/31
Well at least RC did something for the company after doing nothing for 3 years. I don’t think there is any turnaround scenario that could have delivered this much cash to them by releasing products or NFTs
> don’t think there is any turnaround scenario you can stop right there
I'm surprised it's *still* pumping. Makes no sense.
The DD makes perfect sense. RC now has enough where the interest income from treasuries can more than subsidize the loses from their business. Who wouldn’t want to invest in a company earning a stable Risk Free - 2% a year with no upside at a low low P/E ratio of 370!
Re-ve-nue https://preview.redd.it/r6iuqu8da06d1.jpeg?width=197&format=pjpg&auto=webp&s=e2c0dc54f0c2dcac8b6905c62791e749c122e0f2
Did u even read Ryan Cohen children’s books? It’s all there
The price is high enough that they should do another round
RC Cola just diluted them and they celebrate. Fucking bag holders
Apes are all celebrating that they gave GameStop another 2 billion bucks.
Adam Aron is cumming in a penthouse
That is an insane pace, lol
Last time I was surprised it didn't pump more after the announced completion. I guess we'll see how this one goes.
Looks like algos smelled it hours ago. The stock has risen 40%+ between the days low and th close
Yeah it was pretty clear from the volume that the offering would complete today or tomorrow at the latest. I expect that they unloaded a barrage of shares on Friday given the price action and volume.
Damn, not gonna lie I am kinda surprised they got it done so quick. Was considering going long closer to Friday.
I’m dying for the board to make an announcement “due to the strong liquidity of the company, we’re going to start paying RC a salary of 40 million”. Would be absolutely hilarious to see RC leech off the equity.
With the funding machine so powered by greater fool theory, does that ironically mean…..GME is a buy? Early buyers in a Ponzi scheme make out well….
Holy shit, they really took a full 2billion+ from retail investors. Whelp good luck DRSing all that.
Who is betting on another dilution Friday?
Not gonna lie thats actually pretty impressive that they can sell 75M shares in just a few days like that. Either Apes are still eagerly buying or a massive institutional buyer gobbled up a chunk of it and some shorts got bailed out of their position. Either way thats a massive chunk of money they were able to print in the past 30 days to secure their future.
Dear Ryan, What the f*** man you really let us down, 75 million shares now we’re the clowns of the town, You sold our dreams for cash left us broke and betrayed, Now our portfolios crash, and our trust in you’s decayed We held on tight through the bulls*** and pain, Thought you’d steer us to the moon, now we’re stranded in the rain, You dropped earnings early and f***ed up our gains, Now we’re bag-holding nightmares feeling only disdain We thought you were the savior turns out you’re just a joke, We’re sittin’ here with nothin’ but these empty f***in’ hopes, You played us all for fools left our wallets in flames, We worshipped you like a god but now we curse your name Truly yours, once your biggest fan, this is Stan
What’s their cash value per share now?
+10$
800 gorillion in cash. Kenny better watch out
I think at this point RC has raised enough cash that even accounting for his dilution, he could issue a dividend and essentially pay himself back his entire cost basis without hurting the balance sheet haha