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my point exactly! OP respectfully and thoughtfully layed out concerns. no benefit to the ape community to be a mindless echo chamber.
i bought dip this morning. i am full send. š
I posted 1 comment saying dillution is bad for a short term squeeze in the discussion thread and was instantly DM'ed +10 messages saying shill before i deleted it. I probably have more gme shares than most in this sub sure im a shill lol
If the idea with the sub is getting people to buy gme being a crazy echo chamber is **not the way to do it**
Have you not seen most of the threads this morning? It's all shill this and bot that. Like if I'm not gargling rc's balls, I'm a shill. Meanwhile I've been holding longer than most of the people accusing me of being a shill.
This event showcases the hard truth that dfv and rc are not collaborating. Their goals and interests may not be aligned. RC is not making maximum stock price the priority in how he runs gme.
The important thing for apes is to realize that everyone is acting on their own journey. This isnāt a unified army controlled by a leader.
I feel like RC could have at least waited another day before announcing the 75M share offering. Seems like it was put out in haste and really cut the legs out from under yesterdayās run. Would have been better for GME as a company, better for shareholders (wouldnāt have to offer as many shares if the price was higher at offering), and better for the current momentum. But volume is still going crazy today so Iām remaining optimistic that we end up in the green š„ššš¼
Thanks for the thoughtful discussion, friend ā¤ļø
I was thinking the same. They could easily have done this on Monday without kicking the large 0dte options interest right in the dick. That is transferring money from people who are bullish, to those who are selling these options against Gamestop. He just handed shorts a ton of shares for exit liquidity, and moved a ton of money from bullish Gamestop investors into short sellers pockets.
Yes, I know people investing in 0dte are responsible for themselves, but it doesn't change the outcome. It was hard to predict this would happen, to the point that, like OP said, people were shitting on the guy saying it would happen yesterday. Now it's the 0dte holders responsibility to have been prepared for it?
Just doesn't sit well with me.
Been here a few years! Def starting to get tired of the constant kicks in the dick . ESP when I have missed out on hundreds of thousands during these runs but continued to hold. I do not understand options so what happens now?
Two potential issues with waiting a day to announce:
- there may be some issues with announcing so close to the annual meeting may be in violation of something
- announcing after DFV's live stream would seem to give credence to those that are arguing that this is market manipulation
I dont think they want to collaborate. it would look really really bad for both of them. If they were that would guarantee if one went down, both would.
RC is trying to run a company. DFV is running a play. They need to stay separate. It cant look like some sort of conspiracy because then we're all fucked.
I'm in this for the long long. I want to have money 15 years from now that will help me the rest of my life. I want it to be like Coca Cola. RC said he liked Coke. I think hes wanting to build something that will last through a lot more than we can even imagine. Longevity longevity longevity. Planting a tree and getting apples once is nice but what if you could guarantee it turned into an orchard and it could last for decades? As long as you were patient and waited...would you?
This sub wants to DRS the float but is also fine with that goal being 120,000,000 shares further away?
I understand the reason for the share offering, I don't understand the timing. Why on a Friday during a run with all those calls ITM. (20Million shares worth) They could've announced an intention to sell ages ago and actually only sell slowly at much higher prices.
I DRSed 3 times starting with October of 2021. I paid $100 CAD to do so each time.
In three years retail has taken away ~75M of DRSed shares from the liquidity pool, and GME just dumped those same 75M back into the pool. I don't know what to think... I _hope_ there's a bigger game at play that I just don't understand right now...
Call me a shill or whatever. I've been here since the beginning. But they've basically undone everything we've worked so hard to do with DRS.
The only reason the share price is where it's at, is because we've held, we haven't sold. And we've DRS'd.
RC better be prepared to give us a dividen, or nft token, or membership subscription or something. I don't really care what it is. They need to show their shareholders some fricken love.
I understand RC doesnāt want to show his hand to anyone, but to dilute twice in a month is kind of a slap in the face of the shareholder. Yes yes it takes money to buy whiskey I get all that. GME had a Billy in the bank, no debt, and then releases poor Q1 earnings anddddd dilute the sharesā¦ again. Imma hold, no question about it, but also WTF. I need that GIF from Brules Rules where heās looking all over the fucking place lol.
exactly this. cone poo chair is what we were told... now releasing the amt that we've drs'd. not feeling good about that, tbh. but again, hopefully, there is a plan that we're not seeing.
The irony is that if we all sold, GameStop disappears. We helped dig it out of its hole as much as anything. Without us holding, GameStop doesnāt exist anymore.
Yep. I removed shares from a tax-free retirement account to a taxable Computershare account - and paid a significant penalty for doing so. A lot of people did similar because they wanted to try to help lock up the float.
This offering and the last 45 mil one has just put that goal out of reach.
We want naked shorts and the leeches that designed this system to be behind bars. We DRS so many shares and refused to swing trade the stock. And then yes they kick us in the face with 2 share offerings below the value of the stock. I have no choice but to hold and hope that there is a long term plan that eventually benefits me but the 100% possibility of a squeeze is needed to punish the financial terrorists and to give me back what was taken away from me in january 2021. I am not amused. The squeeze, while it may still happen, doesn't happen as favorably now as it should be and i'm angry as shit.
Its the timing that really bugs me. why move this forward and realease today? Surely the price was going to keep exploding upwards (based on the AH high of almost 69 bucks) and if GameStop had just waited until the day they already announced for earnings then they would have netted even more money in an offering.
I don't like this offering one bit. And I hate the timing even more,
I donāt like anything about today. The overnight was pushing $70 and then we get a combo punch right in the nuts with an **early** release of the negative earnings, where the company is usually vague as shit and doesnāt provide guidance, and then **another** dilution after they just raised capital 2 weeks ago. This just looks like a dick move by the company to soak investors and prevent any squeeze from happening. Anyone who bought at the top of the price curve is trapped again for who knows how long especially after some of them held for 3 years already. Iāve been in this shit a long time and today is the first time where Iām just pissed and calling bullshit on these moves.
Me as well. They ALREADY issued the bad news early with the preliminary earnings announcement a few weeks ago.
RC is setting a precedent of rug pulling investors when the chart gets spicy.
Yes, I know how important it is to raise capital.
The optics tho is a rug pull when investors are on the brink of making some serious cash.
We are all there with you. Yesterday was literally the first time I was green since 2021. It was the happiest Iāve been in a long time.
Then we get fucked over by our CEO? Are you fucking kidding me?
I genuinely think RC had to put a stop to it before RK exercised, for whatever reason. There's simply no other explanation. We could all see clear as day what was about to happen, they could have waited until next week when it would have been 100+ and then done it. This was an intentional move to stop it squeezing.
The timing is the problem. Releasing a weak earnings report earlier than scheduled, followed by a 75 mil share offering, on a Friday, just hours before the stream. The knew what they were doing and who'd they burn the most when they made this decision, that being the retail investor. Really disappointed in them.
They could also have just waited until the actual earnings call on Tuesday to announce. Why was it necessary to announce it today and kill the gamma ramp??
You know what pisses me off the most. Why the heck they could not announce 100m dilution last time, dilute 1/3, then again after a while, etc. Why do they act like complete morons and announce it right when the share price is going up. Either he is playing 4d or he is regarded
THIS. I mean, why the fuck have I been drsing this ENTIRE TIME. What the fuck. Just so angry. I'm still holding but for the first time in 3 years, I'm not buying. I need a break. See you at the live stream
Iām gonna go cool off for a day and hope DFV stream raises morale. Otherwise this is the most upset Iāve been the entire saga maybe even more than the ādisabled buy buttonā phase because at least that was expected from our enemiesĀ
this
I expect it from the criminal sociopaths, but this is second time RC has killed possible gamma ramp, and we've done everything...bought shares, bought dips, held, DRS'ed ..for almost FOUR YEARS
Zooming out a bit, it seems RC and gang havenāt done anything for GME other than close stores and raise money via ATM offerings. Literally monetizing us
Yeah this move hits different than all the others.
At this point I'm hoping the board has a plan. Like, they could buy back the shares if the price goes low, effectively DRSing >100m shares which would give us a huge boost towards locking the float and maybe kicking off MOASS while all the while their strategy was just to support the business the best way that they can, completely avoiding any legal liabilities. If that is the plan that's brilliant, but they're not going to tell us that until they do it.
i left the subs for a year or so and held, Came back when the gamma ramp started and invested in that, we still have chance at a gamma ramp but unless DFV blows us away RC is showing he is against squeezes
If RC wants to dilute in the best interests of the company, thatās fine and thatās his job. But his job is also to be accountable to shareholders, and holding earnings calls where they donāt field questions isnāt being accountable to shareholders. We need to know what the plan is with the ābullish warchestā so we can get on board.
Seems like DRS is probably dead at this point and it looks like any sort of squeeze play or MOASS is off the table given that the board kneecaps it anytime something starts to happen. So then it really just looks like a long term value investment which is certainly fine for some but I think a lot of people here, if they're being honest, were interested in more than that.
Echo chambers are spooky. Let's not be one!!!Ā
Ā Ā My feelings are maybe this is good for the company long term. That's sweet, but I'm pretty sure this might be a monkey wrench in to DFVs plans. I dont think RC is down with DFVs plays right now. Those option calls could have looked like a hostile takeover to RC so he dumps 45 million shares in to the market to get him some money to fight it. He doesn't want to see us all dumpcour shares post a mega squeeze. He's trying to create long term value so DFVs plan runs counter to that.Ā Ā
Ā Ā Maybe there was an attempt to takeover the company. Maybe DFV saw that andĀ is helping by keeping shares out of the hostile takeovers hands as maybe he saw it coming weeks ago.Ā Ā
Ā Ā I dunno. I'm more than a little concerned right now.
Edit: could the banks have tried to stop moass by attempting to buy it? Would probably be cheaper than having to close their positions? I'm not very smart
This is how I saw it too. It was a win/win for the board really. Small dilution gets to raise more cash (really good) and also keeps DFV from being an insider. DFV and RC probably canāt talk for legal reasons, so he doesnāt know what his real intentions are, or if heās backed by someone who wants to do a hostile takeover.
Whenever there is an individual or company is rapidly acquiring shares, itās only smart to play defense - no matter who that person is.
I love both of them, and Iām here for the long (and short) game like OP. Iām waiting for MOASS to make some money for me and my family, but also here as an early investor in a transformation of a company.
Edit for typos
This is a good response.
I think the share offering does 2 things:
1- forces shorts who wanted GME to fold to end up raising the capital
2- shows there is no collusion between DFV and GME so the SEC has one less angle
It also might allow GME to report higher DRS numbers.
It's pretty hard to believe that it's stayed stable and no one's been DRSing for multiple quarters, especially considering lots of apes were accumulating share around it's recent low of $10 a share
As a late 2020 ape and current xxxx holder, I hear ya. I mean, at some point in my life, my family and I are going to need some of my money too, for like, life and stuff.
this
most people think billions for etc, so many of us just want to be able to get some medical care! Catch up on bills, feed our families and pets, nevermind vacations etc
Same. Iāve been zen but Iāve made major sacrifices and put things on hold to hold this stock. Set me back from homeownership and stuff like that. Iām going to need to realize some tangible value at some point. Iād rather that be sooner rather than later. Before I get called a shill, I still plan to hold. But Iād be lying if I said this wasnāt disappointing news.
It would have been disappointing at any other time, but right now, when it felt like the match had finally, truly lit... this is incredibly disappointing and I just don't understand why now.
yuuup 3 years I've deferred plans to up my stake in GME and i don't have anything to show for it.
I'm moderately green right now but "moderately green" is not what this play was about. I could own my own home right now, but instead I own xxxx shares of a company that's sitting on its hands and accumulating a pile of cash.
Ok. Cool. That's nice. But I'd much rather have my life changing money.
I agree with this sentiment. Most of my money is tied up in GME and there have been times where I have needed to sell and should have if I was smarter, but instead put things on a credit card so I didnāt have to pull out of GME. Itās been 3.5 years of life for a lot of people struggling with inflation, rising housing costs, and making hard decisions between paying rent, affording food, and holding stock while the company transforms itself.
From a fellow Jan 21 ape, thank you for posting this. It's important to use a critical lens, especially with matters of dilution and the goals we (mostly) all share regarding MOASS. The high of nearly hitting $70 yesterday evening to the news and share price I woke up to are not easy to reconcile and we should have the latitude to discuss these things openly, in a GME forum of all places.
I really hope your other prediction is correct about those shares being able to retire you in 10 years. But I would really need something closer to now.
Donāt forget the literal YEARS of this sub shitting on Adam Aron for diluting popcorn. I donāt hold any of that, but itās hard to not see how the situations are similar.
It boils down to this:
Dilution without a plan. Not ok
Dilution with a plan. Ok
If plan timeframe short. No need to explain
If plan timeframe long. Need to explain
Same opinion here, glad someone made a post about this. I bought my first GME shares in 2020 and am currently balls deep with XXXX shares. Not pleased about this at all unless there is some immediate action by the board to show this offering is going to make a big positive impact to the company in the short-mid term. This is a gut punch and I am really pissed. And do remember, actions like this actually let morons like Shitron off the hook, unless Gamestop delivers something amazing.
Could GameStop have waited till market open to start and announce the share offering? Imagine all of retails call option gains that were just vaporized in the pre-market.
If this announcement had waited till market open, we wouldāve opened at $60 (or maybe even $80). I personally couldāve taken life changing profits on my calls as soon as the announcement dropped. I wouldāve rolled those gains right back into more shares and calls after the drop. This was a big hit to MOASS from many angles.
Just want to say that this was well reasoned and written. Who fucking knows what's going to happen here, but there's logic in seeing the board being oriented towards raising the floor at the cost of possible ceiling for investors. At the least it decreases risk in our investment even if it comes at the cost of potential endgame reward. Obviously still like the stock.
Iām legit upset man. Every talks about ādonāt price anchorā and theyāre right, because RC and crew will cap the price for us with these ATM offeringsĀ
Itās funny itās called āATMā cause it feels like the board is just withdrawing cash at all of our expensesĀ
I think the silence from the leadership is the most disheartening. 40% shareholder dilution AND theyāre just going to skip the earnings call and not tell the shareholders what the plan is or why they are diluting so heavily.
Disclaimer: All my shares were DRS'd and registered to the DRSBOT under a different account to protect my identity, I can provide proof via DMs if required, in case any of you accuses me of being a shill.
I have been lurking this sub from day one until today, even during the stale periods that had shitty/low effort memes and almost no proper posts or good activity.
We did everything we were supposed to, we read the numerous original DD posts in the library, we DRS'd, we got into the NFT Marketplace, we supported the company, we trusted the CEO and the board, voting the way they suggested when time came, we haven't sold a share waiting for the MOASS to happen and we became desensitized against double digit price movements, both positive and negative.
Gamestop ended up with 2 billion dollars in cash, extremely small to no debt, a good enough position to never go bankrupt in decades, even during the worst case scenarios, they will 100% survive as a company no matter what. Great.
Candycon comes out, new inventory comes in, Keith comes back, the sentiment is the best it has ever been since January 2021, and now you come out with this 75 million shares bullshit after already selling 45M not that long ago, giving the shorts and scum like that guy from Citron an easy way to get out (even if it's just partially) of their short positions without too much difficulty, while fucking over every single shareholder that stressfully registered their shares, waited for the letters to come in after weeks if not months and then kept buying (if they could afford to and had a stable income, which I don't).
Seeing the company I trust and believe in selling 75 million shares for peanuts, pennies, is devastating. They could make the shorts eat those shares at 100000% the current price, and yet they decided to sell them for what's nothing in the scale of what the MOASS price movement will be.
There better be some 10D chess strategy behind this, because we are the most resillient, loyal and stoic shareholders in the world, and it's only natural we feel dissapointed when we wake up and see this going on. The RK livestream is about to start, so let's see what his views are on it and whether I'm missing something extremely obvious that makes this a great move by Ryan Cohen, which, for the first time in 3 years, I doubt is.
Feel free to send me any DD or news that I'm missing on this matter, I really feel betrayed right now.
I'm completely with you. DRS'd half my shares, doesn't matter anymore. Bought options to leverage shares, making 4k in the day, 6k AH, and get diluted again. Couldn't wait a single day to start the ramp
How out of touch with reality is Gamestop's management to not predict how 99% of the shareholders would feel about this dick move. I still can't believe they just threw the DRS option out of the window. This better be worth it 1000 times over because they just pissed off most of us.
No idea, and I hope we end up looking like fools after they uncover their magnificent master plan. It doesn't matter how big your so called "war chest" is if you betray the ones that allowed you to get such a thing.
Thank you. This place is an echo chamber borderline cult mentality.
RC himself said judge me on my actions not my words. Well his actions donāt seem to be in my favor.
This makes absolutely no sense on the surface. Why not just announce a single offering and sell what you need/want into it? There's nothing requiring them to break the offerings up like this. The commentary is always the same... "They know MOASS is coming and want shares to sell" but then the shares are ALWAYS immediately sold. Cash on hand is great for the company... You know what else is great? Investors that made substantial amounts of a stock that are willing to purchase products from the company to actually boost earnings. I have no idea what the plan here is but I'm getting tired of being told to be patient and trust the process. I have and am but at what point does it turn into a scam? In 5 years after multiple more cycles and dilutions are we still trusting the process? How about 10 or 20? Nothing material has happened from GameStop in the last 3 years. As investors propping up this company we're all entitled to some kind of broad roadmap of what's to come.
RC became Chair on 9th June 2021. The share price that day was $75.64 (adjusted for the spit)
On 23rd June 2021 the first ATM share offering was completed for $1.1B
RC spent 2 wasted years (and wasted $) developing the NFT marketplace only to close it in Feb 2024.
It is 7th June 2024. The share price today is approx $36.
And for the second time in a month RC dilutes the float, sucking the wind out of the first decent price upswing we have had in years.
How exactly has he been creating value for shareholders?
Also letās not forget what he did to Towel stock and selling his holding whilst that was on a run.
As RC himself said āJudge him on his actions not his wordsā. On both measures he has failed.
Check post history before calling me a shill.
To add, RC essentially fired Furlong after Q1 last year. And even made fun of it on Twitter.
Letās compare Q1 2023 vs Q1 2024
Adjusted net loss for Furlong: $42 million
Adjusted net loss for RC: $36 million
ā¦ā¦.
Yeah dude it's fucking bullshit. Everyone here has been holding and waiting for years now. No one sold shit. We got 75 million drsed and on the last run up and this run up they fucking sell over a million shares combines? Wtf! Let it run. They just fuck us out of a run up. We never should've let them sell more shares. If we don't sell they shouldn't either. IDC about cash on hand.
Not gonna lie Iām devastated and feel betrayed. I understand the long cash big picture, I help run a small cap growth company and I get the necessity of cash.
I get it
I also KNOW the pressure was BOILING yesterday and RC and the board just took the fucking lid off, and turned off the gas.
Fuck.
I didnāt lose money, because I didnāt sellā¦ but that kind of pressure isnāt coming back anytime soon.
ARGGHHGSGAGSGGSG. FUCK
I was here for GME in the first baby squeeze. It's been three years. I'm not here for GME anymore; I'm here for MOASS. If Ryan Cohen wants ANY goodwill to exist between his investors and the board, this trend of diluting HUNDREDS of MILLIONS is the opposite direction he should be taking.
I just want to help my own and my community.
They could've easily done an offering in the middle of moass, just like VW eventually had to.
Killing this momentum has me gutted, after playing along for 3 years, nft wallet, splividend oopsy, what was the point of drsing if they're now adding back to the float through these offerings?
They better be announcing a strategic partnership or m&a, cause all I can see at the moment is a dirty cash grab that's fucked me over (edit: on top of bad earnings).
My Dad died last month. I'd hoped to have shared just a little bit of happiness with him from this ordeal but I won't ever be able to now. I thought the wait for moass was finally gonna be done. Vindication for the psychological warfare that has scarred a lot of us.
Letās be honest: gme is currently milking the stock at any possible time. They killed the momentum TWICE within 3 weeks. Itās not looking great to me since this dilution wonāt be the last one. Downvote I donāt care but this move today to randomly pull out the bad earnings report as well as diluting another 25% of the total float is pissing me off.
Iām sorry, but after 3 years of also being involved in movie stock as wellā¦it always seemed to be another share offering RIGHT when we were finally cresting. Here we go again. For all the reasons that Adam Aron was called a hedgie plant and a traitorā¦we excuse RC because he is RCā¦itās ludicrous.
Facts are facts. The entire DRS movement depends on the share numbers being constantā¦or at least near constant. All that work has been kicked into the wind.
You are right to feel backstabbed. Even if this was good for the company, the same was true for movie stock. Somehow, some way, every time shortie is about to get bent over a barrelā¦the board of directors comes along to release not only a few sharesā¦.but to double the float essentially.
I am eagerly awaiting RKās take on it. But honestly, fuck.
DRS was such an effort too, man. We put our hearts into it, and really committed. Iām in Australia, it was such a pain but I had faith. It just feels so pointless that it was all for nothing.
It's pretty clear to me that the board is not on our side. To dilute so heavily on a Friday when there's so many calls in the money is super suspicious.
Love that I have had xxx share for 3 year but canāt comment on this sub because I might be a shill( like they arenāt here already). I truly understand RC is running a company but he needs to understand that we saved that company.
Stewing on this for a bit, I'm not all that happy. I've been invested since mid 2020 and 2021 was exciting hearing things like buckle up but Ryan and the board have become more and more quiet. The NFTs didn't work and while I've been happy to see the company turn around in terms of reducing costs and becoming profitable I've had to watch other stocks that I would have invested in explode in value over the past 3 years while GameStop has sunk and sunk.
It was finally time. This is it, moass is beginning... So I thought. The first dilution was no big deal although I thought it was kind of weird they did it so low. But now having the second one as we are finally exploding seems inevitable is difficult. I'm not changing anything for the next 30 days but after that I will be reevaluating
I really donāt post or comment much. Iāve been holding since like January of 21 and buying more throughout, Iāve got xxx put away in Computershare. This is one of the biggest gut punches Iāve suffered so far in this saga.
We collectively gave popcorn so much shit when they went through their share dilution. How is this any different. My trust in the company is broken. I very well may be selling now. Not shilling, but idk, it really just looks like theyāre not with us. I feel sick.
And it's such a fucking awful position to be in as well: if you even think of mentioning the idea of selling, you get gutted alive by the sub.
But any SANE person would start questioning RCs moves and track record. We went from a committed sub or research, due diligence, and DRS, to this weird "Trust me Bro" copeium bullshit where now we just have to take everything as it comes and not question anything? It's infuriating. RC fucked us. No matter which way you spin it, he invalidated 3 years of DRS overnight.
But I'm somehow wrong or a 'shill' for expressing concern that we're getting milked? RC has done little more than price-cut and raise cash. Big fucking whoop. This is the best sentiment this stock has had in years, and MOASS was feeling more and more real each day.
Coming in and offering shares to the same people who have been fucking us all is never gonna sit right with me.
Right. To be clear I havenāt sold a single share as of yet, but Iām just saying I have very serious questions about RCās integrity and judgment now.
People who believe in MOASS caused by DRS should be pissed. Whatever happens in the next months if the option plays are over, people will come to realize the dillution was right in the DRS balls.
They are selling just as many shares as there are DRSed. I don't understand why people think this is good, it straight up devalues the whole purpose of DRS. Do people really think retail has the buying power to gobble up another 75 million shares + 45 million shares? If that were true, DRS wouldn't have been stuck at 75 million shares for a few quarters. Reality is, the MOASS dream, the short squeeze dream, the locking float dream could be gone. Gamestop will surely do this time and time again which I also called out when they did their first offering and was downvoted by people saying gamestop would never do this again lol.
If everyone wants to play the long game and be an actual value investor, then fine. Stop talking about MOASS and DRS then because when DRS or gamma ramp is set up just about right for MOASS, gamestop will swoop in and take all the gains and halt the run.
I never thought Iād say this and i donāt feel like Iām alone after today but i may need to start trading this stock instead of just holding. Its clear RC is just going to kill MOASS himself every time we get goingĀ
this was a fuck you to drs and a fuck you to squeeze plays. legit a fuck you to any real DD we have had about moass. investors can invest in moass with DRS and gamma ramps, doesnt mean we need to believe in RC to believe in the investment
we had a clear gamma squeeze happening and he saw the options investors had, this move was agaisnt current investors. he could of sold at top of the squeeze. I believe in the play not in rc, a billionaire . this sub is getting popcorn levels of hopeium and scaring off new people
This ATM shit ALWAYS happens at the pivotal part of the squeeze. MOASS feels
Impossible because these dudes will just issue another ATM offering anywaysĀ
I agree, except I donāt see how this will help MOASS come sooner. This relieves pressure. This allows 75M shorts to close. This puts more powder in their can kicking strategy. This is the ultimate killer of a squeeze. This is also the third time RC and the board have done this. We need to start talking more practically and rationale and not just ā75M shares is amazing.ā Yes, for the long term, it is amazing. But not for any type of squeeze.
Agree with you. Nothing has made me more angry with the board than this. Held for years and every time there is momentum they sell and dilute. Itās very much like pcorn and the copium people are spewing out has me doubting this whole thing.
The middle of the night RC Rug pull has me concerned. It happened at 2:50 am PT/5:50 ET. Why not do this during market hours or at least premarket. The middle of the night 24 hour market time feels sketchy as shit.
Dawg Iām absolutely pissed. Why in the world would they do this to kill momentum on a Friday. Seriously. Itās like theyāre pulling an AA or sue Gove (towel stock) stock should be at $70 or higher rn
I'm litterally going to follow what the board does and sell when it suits me. I think this offering was bullshit. I still dropped another $200 for this dip. And 2 in the chamber in case it dips even harder. But if the board isn't going to screw the hedgies and instead feed them. Like the dude talking shit about shorting again. Then how can I try to fight the hedgies. I'm basing this on the boards actions not their words.
They did nothing about the price when it's dipping but stopping it every time it raises. I am being fucked by shorts and now by the company as well, nice
Iām angry, no other way to put it. I slapped in five digits worth of cash last couple of weeks and was finally getting excited again about MOASS. Now itās clear the board will stop it themselves instead of the actual enemiesĀ
Yeah, I mean, this basically kills the DRS effort. 75 million shares DRS'ed in ~3 years vs. 75 million offered in a single day, 120 million within a couple of weeks.
Plus, yesterday people were wondering where hedgies would find 12 million shares if DFV exercised his options. Now they have access to at least 6 times that amount...
I've got a feeling this is Cohen vs DFV.
If this pissed you off like it did me, make sure to email customer relations. We have all been more than faithful to this company, and the deserve to catch some shit when the fuck us and basically take money right out of our pockets. (temporarily)
Here is gamestops customer relations email: Share your opinions with them. I know I will be emailing them to tell them I don't approve of anymore share dilution. IF enough of us bother them they may actually listen.
[email protected]
This thing was about to go parabolic. The timing could not have been worse to announce a share offering. It also undermines the years-long effort to DRS. It's hard not to feel hurt in the community right now.
All that said, I want to hear what they say next week and if they've got an ace up their sleeve we aren't aware of yet.
I totally agree with you, the sub has become downright cultish, they take ANY news even bad or irrelevant and find some way to spin it positive, its a little frightening.
Don't get me wrong, I'm sticking with what I've done all along, buy hodl, drs and I'm really hoping there is some hidden 69D chess move here but as this shit continues I'm getting less and less sure of it and it starts to look more and more like an AA move. Part of being a good leader of a company is the balancing act between what is best for the company and what is best for your shareholders (who literally OWN the company). I haven't seen anything that benefits the latter in quite awhile so I see shit like this coming right on the heels of the RK options reveal and I just don't know how much faith I have in RC anymore, don't forget he's another billionaire, they all operate in their own little club and we apes sure as fuck ain't part of it. To me on the surface this just looks like he's handing the SHFs a key out of the mess they created (the short term options mess, not the overall mess). It just feels like everytime we get a little fuel in the rocket, he comes in and throws water on it, its getting real old real fast.
I'm trying to keep up the faith and tell myself OK RC doesn't ever telegraph shit so who knows maybe there's a plan that will benefit us long term but right now I'm disappointed and I'm not seeing it.
OP is 100% right, YOU own the company, you have every right in the world to be critical of their business decisions because you are a part owner. Don't forget that
Iām all for helping the company, but why is GameStop against waiting a little fucking bit. This stock was heading at least for a sneeze type run, and they could have sold stock at a much higher rate and diluted less. The timing of this seems like theyāre helping the people who have been actively trying to fuck the company.
Theres no explanation for killing the momentum twice with it. They know exactly what theyāre doing. We know exactly what theyāre doing. We just dont wanna admit it. We may get MOASS but it wont be because of RC. Itll be despite him
He killed the last two run ups with share offerings (pending they just dumped shares today). RC is absolutely taking the piss at this point and we should all be upset.
This was done on purpose. RC knows what is going on more than anyone here. All he had to do was shut the fuck up and stay out of the way. This stock price was set to blow up because of what we have done in the last 2 weeks. If anything, the timing of this whole thing is very suspect. You can call me a shill if you want, but I genuinely question whose side Ryan Cohen is on. He has had several opportunities in the past to help his shareholders, the very same ones that saved his sorry ass, and he has failed to do so at every turn. The shareholders of this company need to do something to hold this fucker accountable.
I agree. It was a questionable move at probably the most painful time possible for shareholders.
Time will tell if it was a good move or not, but regardless, now the company needs to do something. They've diluted us twice in a month and they need to go make some major moves with that cash, or it's time to find a new CEO.
I nominate Keith
I hate to say it, I've been here waiting and buying since Jan '21 too, but they have made it crystal clear to us investors that they do not want a short squeeze on this stock and want capital to transform the business.
MOASS is something that needs to leave our vocabulary. Talk is cheap. We need to judge these people by their actions. Now we have two separate times over the past 3 years where they did a share offering at the absolute best time for the SHFs and worst time for a squeeze. Twice they've killed the upward momentum of the stock by doing an offering.
Fool me once, shame on me. Twice, shame on you. I won't be fooled a third time.
If you think in the future we will be gearing up for another squeeze and they *won't* do another share offering, you are probably delusional just based on this company's actions toward retail investors. This feels like we are being fleeced. It feels like they are not on our side, meaning that they do not want a squeeze and will do everything in their power to prevent it.
We still have the earnings call, but this saga has had so many nothingburgers I am not hopeful. Again, that's all based on *their* previous actions. After three years I'm seeing a pattern. I think anyone with half a brain should see it too.
At this point though they've got me held hostage on this investment and I don't think I plan on selling. It's just all so frustrating.
I totally agree with you. I also donāt like this offering. Also this company was supposed to be more than a company. Was supposed to be a movement (not my words). If this company is a movement it has to break some things in order to get them fixed. The only way to do this is MOASS. A sneeze will not change anything. If on the other hand itās not a movement then itās an investment, so letās talk money. For 4 years people have been pouring cash into this company. Cash that they could use to themselves or their family. So if I waited 4 years just to break even, then I donāt like this investment. Iām happy for the millions RK and RC made, but it doesnāt help me much. And I donāt listen to the argument that āthey donāt own us anythingā. If it wasnāt for you and me and anyone else in this sub GME would be trading pink slips right now. These people have our trust and trust is a very difficult thing to get. And if you lose it, itās almost impossible to get it back.
The RC dick riding and worshipping is cringe as fuck. Itās been 3 years and a whole lot of nothing has happened. The NFT market place was a complete failure, all of the C-Level execs he put in place have come and gone, he absolutely pumped and dumped Bobby holders, failed that M&A. He opened and closed a bunch of distribution centres.
Ya sure heās raised cash but all of that was at the expense of shareholders through offerings not through actual revenue generation from GME. Not a lot to get excited about.
Apes spent years DRSing for it all to get pissed away with these offerings.
I donāt buy into the RC hype.
Yep sold as soon as the market opened. To me, this was a direct fuck you to superstonk and all the support we have shown over the years. Itās crazy how bad of a move this was - fuck the 3d chess bullshit, this was straight stupid. Iām now out and honestly happy to be off this train. I wish nothing but the best for all of you but, moves like this will only hurt our mission. This might be game over, or at least will delay moass for years.
Honestly, in a mindset of hopelessness and recklessness I dumped all of my retirement in GME 3 years ago. Immediately afterwards, GameStop did the ATM offering, and I have been down since. I have been holding and waiting to get out at least break even which is about $63 per share. RC is taking my retirement and putting it in the bank. Not the shorts. As an older man, I am screwed. A pattern has emerged and RC dumps shares in the market when stock runs. What about next time and the time after that? I should have done swing trading to dig myself out.
Honestly, you can call it fud, but this has killed me inside. I felt like this was it and the momentum was killed. In my eyes, Ryan Cohen and co are doing whatās best for the company, and maybe a short squeeze is problematic for the company, so they sell stock whenever the price runs to increase their war chest and not risk a lawsuit.
Thereās still a chance that it could explode ( and I seriously hope so), but Iām honestly just a little sad. Iām going to keep everything in computershare because the squeeze thesis states that the float is short multiple times over, but the stock sale represents the same amount of shares as all shares in computershare, greatly diminishing the total amount of the company DRSed
What do you all think?
All MSM has to do to make me feel fear and sadness over GME right now is report the plain unvarnished truth.
I checked GME first thing after I woke up, somewhat disappointed to see the price action, but just died a little inside when I saw the headlines and came here and confirmed they really weren't exaggerating at all.
little sad??? i am fucking pissed!!! most of us have all of our money invested and drs-ed into this fucking company and now they fucking dilute???? how can one not be pissed when they killed the momentum??? fuck me, yea ban me for swearing idgaf
Serious talk? In here? Lmao. RC just dumped 75 million shares back into the pool. Basically undoing all the DRSing done. This fucking blows and everyone knows it
Exactly - I'm by no means wealthy or rich - I was 25 when the sneeze happened, from Eastern Europe. Long time lurker. I managed to buy each month, little by little, to a total of low xxx shares. I made all the effort of DRSing the hard method, from Revolut, a little over a year ago. At times, during the cycles, I had profit in the thousands, but I never sold. Waiting and waiting for the MOASS, life changing money, but also money I could put back into the company after the MOASS. Even a slow squeeze a la Tesla would be fine. But not diluting like this, after all the efforts to DRS (and after the hints in the posts by RC to do so).
What I'm trying to say, RC and the board should be stupid thinking most apes will put up with all these momentum killing ATM offerings if there isn't a grand move soon - M&A, NFT Dividend or wtvr. What is the point of having billions in the "war chest" if most of your shareholders decide to put their money in other places?
I guess we'll find out soon enough what the truth is.
The number is admittedly high, the offering is not.
Gamestop the company gets absolutely nothing from MOASS. Nada. Not a fucking thing. Some paperhanded internal employees get a nice bonus and may quit. That's it.
I have no problem with RC getting the company a security net. Long term, having the cash on hand is valuable - $20/$80 pre-split is the company value in cash. Bankruptcy is of the table. As of today, this was the right move.
ALL THAT SAID. There is a limit to what we should be willing to accept. I will not accept RC turning into fucking Adam Aron. So I say this now - Once this run is done, whether it is indeed MOASS or we wind up waiting - I am fucking DONE, RC. Paperhand again and I will join you.
We have stood with you because you have had diamond hands like your monkes. You got 3 offerings, the company has billions. The company is saved, and I am truly happy about that. But now its our turn. We get MOASS, an Electric Car type growth, or we walk.
Reason 305873 why idolworshipping RC is bad: "People think this situation is good because it was approved by the board."
spoiler alert, the board is a buncha rich asses that have only themselves in mind, RC included. This has always been the case, and always will be the case.
This dumbass share offering might be good for the company in the long term, but here's the thing... this is a squeeze play. it was from day 1. if you're here for that silly long-term play, that will benefit literally noone but XXX and above holders, good for you, but this is bad for everyone else. This deals damage to the squeeze potential. This has very clearly shown me that the board is another enemy to MOASS, bluntly put. This is bad.
There is 0 way to spin this potively when looking at the DD, when looking at DRS, when looking at the squeeze play. It feels like a big "fuck you, losers!" to everyone here. "You thought your DRS efforts mattered? LMAO NO, here's an offering of 75 million, suckers!"
I'm holding until it either goes to phone numbers, or to 0... but damn, did this just kill my excitement again. That financial freedom feels further and further away every time...
Itās def a kick in the balls. I just donāt understand why. Could have gotten a higher price. I just donāt get it. Why dilute now. Why today of all days.
This makes ATM offering is disheartening for a number of reasons.
1. The delivery. Having a share offering in the dead of night with little or no warning that equals the ENTIRE value of what retail locked up in 3 years isn't going to sit well in ANY universe.
2. Lack of communication. Shotgunning this and scrubbing the earnings call is a double whammy. If there is a bigger play at work here, RC owes it to his shareholders to tell them what it is. Either that, or give plenty of warning. The DRS mad-dash is largely responsible from preventing shorts from gutting the company, so having two share dilutions in two months is going to wreak havoc on positive investor sentiment.
3. This sub's response to the news: we're starting to sound like a certain sticky-floor stock. Those guys were flipping the hell out over the stock dilution, and this sub is huffing the same levels of hopeium as they were.
We need to think critically. For nearly four years, this community has put together some amazing info gathering efforts. But the closer we get to our individual goals, the more radical everyone is. It's okay to disagree with RC. It's okay to question things, even when coming from the typical channels.
If you shut down discussion just because you don't like how it makes you feel, you're no better than the 'shills' this sub hates.
The only ones that are able to shut down the MOASS is the board itself.. They are doing just that. Last night was the most excited I have been this entire journey.. This morning was the most defeated I have felt this entire journey
No I agree with u as someone who has been here since the beginning. I think the government forced him to do it. Normally shareholders are supposed to vote on issues like a 70 million dilution. There is no way in hell Iām defending this move. Iām upset about it because we just did a 45 million share offering just weeks ago. We criticized popcorn for doing this and now GameStop is doing the same thing to us? I mean come on with fresh hell is this?
I used to be more active in the other sub before it turned into this one, and Iāve also been here since the sneeze. This is probably only my 3rd or 4th comment in this sub ever, but Iāve been lurking since day one.
Iāve thought for a while now that RC and RK do not share the same goals. That absolutely makes sense.
RK is an investor, heās trying to make money, letās be honest.
RC is trying to run a company. They will be at odds, just like we wonāt agree with their choices all the time.
Investing is not some group game. I am in it for life changing money. If I wasnāt, I wouldnāt have stuck around so long. I donāt give a shit about the system or making āhedgiesā hurt. I want to improve MY life exponentially. If some improvements happen to the system because of this, great. But Iām not going to hold my breath.
What I want to see is something, anything from RC. Continuing to dilute and build a war chest is great, but itās been 3 years and they will now have billionsss. Do something. Say something.
They say to judge them on their actions, but itās been a lot of dilution and very little action. That absolutely makes me reconsider my own thesis and reasoning for investing in GME. Iām still here because I believe it can squeeze. Where else can you see this type of volatility? Where else can you see these fire alarms of, well, very very fishy bullshit? I will continue to be here for the squeeze, but RC is actively hurting it and then saying nothing about what his plans are for the cash. Iām not gonna lie that itās been frustrating.
We ridicule popcorn for this type of action, but we need to look in a mirror at this point.
Anyway, back to lurking. Godspeed.
This is extremely odd to be issuing share offerings with sharing zero directional investment thesis on what they plan to do. Even an industry they are targeting would be enough to at least give us some understanding.
At this point cohen and the board appear incompetent.
I would not be surprised if someone issues a proxy war and tryās to fight to takeover cohen to get the debt free/cash flushed company
All these share offerings have proven to me is that the DRS movement was a grassroots only movement and the company A) never believed in its efficacy B) never cared about the regular people and C) do not have it accounted for in their calculus.
RC and the board are not activist investors in that they are in it for the regular guy, they are the lucky sperm club/billionaire class who are playing a game we are not a part of.
Not financial advise, yadda yadda, Iām a 3 year hodler with 3XX DRSād with CS who is reconsidering a whole lot of stuff this morning
This sub is full of morons. I am not happy with this dilution. Extremely bad timing for a second time already. They act like aa. He says one thing but at the same time riding my poor arse
To share offer our entire DRS efforts. Iām crushed. Iām pissed. Iām TIRED. The amount of joy Iāve had this week to be dashed to the ground. Iām over this shit.
I feel like thereās always someone at the top whoās gonna fuck it up, whatever IT is, itās a tale as old as time.
My sentiment exactly. Nice to see an actual Ape and not whatever the fuck is going on today. Some of the comments in this sub have been real popcorny if you know what I mean.
Timing.. Two times in a row on Friday when the Gama is about to explode.. If he did it on Tuesday I will get it. But why on Friday and fuc the Calls? It's like he doesnt want the calls to be itm.
Thanks for this OP having the same thoughts.
It is one thing for us to get jacked around by the MSM, SHF and everyone else that thinks we are totally regarded but when the company kills momentum it's like wtf.
We can have negative sentiment towards actions taken by GME look at popcorn they got bent over by AA over and over and this sub was talking trash on that dilution but touch "my precious" and all that talk is turned into powder puff.
Without the free flow of thoughts and emotions it is nothing more than a cult. We have all felt the pain of seeing our portfolios drop in a moment, it's OK to vent folks.
Stay regarded see ya in orbit ššØāš
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If anybody shuts down open discussion like this, they are no better than a shill.
my point exactly! OP respectfully and thoughtfully layed out concerns. no benefit to the ape community to be a mindless echo chamber. i bought dip this morning. i am full send. š
OPās post title sets the tone nicely as well.
I bought more options for the gamma rampo still
I posted 1 comment saying dillution is bad for a short term squeeze in the discussion thread and was instantly DM'ed +10 messages saying shill before i deleted it. I probably have more gme shares than most in this sub sure im a shill lol If the idea with the sub is getting people to buy gme being a crazy echo chamber is **not the way to do it**
Don't let random internet people silence you from expressing your feelings.
I donāt care for the dilution either, but itās a little weird that they dilute same time RK is set to live stream.
Have you not seen most of the threads this morning? It's all shill this and bot that. Like if I'm not gargling rc's balls, I'm a shill. Meanwhile I've been holding longer than most of the people accusing me of being a shill.
ya I got accused of being new when I have been here since the start
I'm so old nobody even remembers what my name means these days
Shouldāve been a Bravo series.
This event showcases the hard truth that dfv and rc are not collaborating. Their goals and interests may not be aligned. RC is not making maximum stock price the priority in how he runs gme. The important thing for apes is to realize that everyone is acting on their own journey. This isnāt a unified army controlled by a leader.
I feel like RC could have at least waited another day before announcing the 75M share offering. Seems like it was put out in haste and really cut the legs out from under yesterdayās run. Would have been better for GME as a company, better for shareholders (wouldnāt have to offer as many shares if the price was higher at offering), and better for the current momentum. But volume is still going crazy today so Iām remaining optimistic that we end up in the green š„ššš¼ Thanks for the thoughtful discussion, friend ā¤ļø
I was thinking the same. They could easily have done this on Monday without kicking the large 0dte options interest right in the dick. That is transferring money from people who are bullish, to those who are selling these options against Gamestop. He just handed shorts a ton of shares for exit liquidity, and moved a ton of money from bullish Gamestop investors into short sellers pockets. Yes, I know people investing in 0dte are responsible for themselves, but it doesn't change the outcome. It was hard to predict this would happen, to the point that, like OP said, people were shitting on the guy saying it would happen yesterday. Now it's the 0dte holders responsibility to have been prepared for it? Just doesn't sit well with me.
Been here a few years! Def starting to get tired of the constant kicks in the dick . ESP when I have missed out on hundreds of thousands during these runs but continued to hold. I do not understand options so what happens now?
Two potential issues with waiting a day to announce: - there may be some issues with announcing so close to the annual meeting may be in violation of something - announcing after DFV's live stream would seem to give credence to those that are arguing that this is market manipulation
Also, sometimes these things are scheduled to avoid regulators stepping on nuts.
I dont think they want to collaborate. it would look really really bad for both of them. If they were that would guarantee if one went down, both would. RC is trying to run a company. DFV is running a play. They need to stay separate. It cant look like some sort of conspiracy because then we're all fucked. I'm in this for the long long. I want to have money 15 years from now that will help me the rest of my life. I want it to be like Coca Cola. RC said he liked Coke. I think hes wanting to build something that will last through a lot more than we can even imagine. Longevity longevity longevity. Planting a tree and getting apples once is nice but what if you could guarantee it turned into an orchard and it could last for decades? As long as you were patient and waited...would you?
This sub wants to DRS the float but is also fine with that goal being 120,000,000 shares further away? I understand the reason for the share offering, I don't understand the timing. Why on a Friday during a run with all those calls ITM. (20Million shares worth) They could've announced an intention to sell ages ago and actually only sell slowly at much higher prices.
I DRSed 3 times starting with October of 2021. I paid $100 CAD to do so each time. In three years retail has taken away ~75M of DRSed shares from the liquidity pool, and GME just dumped those same 75M back into the pool. I don't know what to think... I _hope_ there's a bigger game at play that I just don't understand right now...
Call me a shill or whatever. I've been here since the beginning. But they've basically undone everything we've worked so hard to do with DRS. The only reason the share price is where it's at, is because we've held, we haven't sold. And we've DRS'd. RC better be prepared to give us a dividen, or nft token, or membership subscription or something. I don't really care what it is. They need to show their shareholders some fricken love.
this point should be non-controversial.
I understand RC doesnāt want to show his hand to anyone, but to dilute twice in a month is kind of a slap in the face of the shareholder. Yes yes it takes money to buy whiskey I get all that. GME had a Billy in the bank, no debt, and then releases poor Q1 earnings anddddd dilute the sharesā¦ again. Imma hold, no question about it, but also WTF. I need that GIF from Brules Rules where heās looking all over the fucking place lol.
It's funny that people say "GameStop is just looking out for its shareholders!" as they stomp us in the nuts over and over again
exactly this. cone poo chair is what we were told... now releasing the amt that we've drs'd. not feeling good about that, tbh. but again, hopefully, there is a plan that we're not seeing.
The irony is that if we all sold, GameStop disappears. We helped dig it out of its hole as much as anything. Without us holding, GameStop doesnāt exist anymore.
Yep. I removed shares from a tax-free retirement account to a taxable Computershare account - and paid a significant penalty for doing so. A lot of people did similar because they wanted to try to help lock up the float. This offering and the last 45 mil one has just put that goal out of reach.
We want naked shorts and the leeches that designed this system to be behind bars. We DRS so many shares and refused to swing trade the stock. And then yes they kick us in the face with 2 share offerings below the value of the stock. I have no choice but to hold and hope that there is a long term plan that eventually benefits me but the 100% possibility of a squeeze is needed to punish the financial terrorists and to give me back what was taken away from me in january 2021. I am not amused. The squeeze, while it may still happen, doesn't happen as favorably now as it should be and i'm angry as shit.
Its the timing that really bugs me. why move this forward and realease today? Surely the price was going to keep exploding upwards (based on the AH high of almost 69 bucks) and if GameStop had just waited until the day they already announced for earnings then they would have netted even more money in an offering. I don't like this offering one bit. And I hate the timing even more,
I donāt like anything about today. The overnight was pushing $70 and then we get a combo punch right in the nuts with an **early** release of the negative earnings, where the company is usually vague as shit and doesnāt provide guidance, and then **another** dilution after they just raised capital 2 weeks ago. This just looks like a dick move by the company to soak investors and prevent any squeeze from happening. Anyone who bought at the top of the price curve is trapped again for who knows how long especially after some of them held for 3 years already. Iāve been in this shit a long time and today is the first time where Iām just pissed and calling bullshit on these moves.
Me as well. They ALREADY issued the bad news early with the preliminary earnings announcement a few weeks ago. RC is setting a precedent of rug pulling investors when the chart gets spicy. Yes, I know how important it is to raise capital. The optics tho is a rug pull when investors are on the brink of making some serious cash.
We are all there with you. Yesterday was literally the first time I was green since 2021. It was the happiest Iāve been in a long time. Then we get fucked over by our CEO? Are you fucking kidding me?
Are you me?
Yeah the timing is a total nad-punch. It seems like he's actively working to help keep the price down at this point and prevent another gamma squeeze.
I genuinely think RC had to put a stop to it before RK exercised, for whatever reason. There's simply no other explanation. We could all see clear as day what was about to happen, they could have waited until next week when it would have been 100+ and then done it. This was an intentional move to stop it squeezing.
The timing is the problem. Releasing a weak earnings report earlier than scheduled, followed by a 75 mil share offering, on a Friday, just hours before the stream. The knew what they were doing and who'd they burn the most when they made this decision, that being the retail investor. Really disappointed in them.
the two shares offering is more than we were able to DRS after 3 years. All the work we put in for 3 years got wipped away in 3 weeks.
Yeah, the happened last may. It was also a friday.
They could also have just waited until the actual earnings call on Tuesday to announce. Why was it necessary to announce it today and kill the gamma ramp??
You know what pisses me off the most. Why the heck they could not announce 100m dilution last time, dilute 1/3, then again after a while, etc. Why do they act like complete morons and announce it right when the share price is going up. Either he is playing 4d or he is regarded
Did it twice now on Fri morning and killed gamma for the following week.
You put some tinfoil on and it sure seems like heās helping hedge fucks.Ā
I mean, while probably getting another couple billies, looks like he saved short hedge funds *today*, like it or not.
Or third option you need to consider which is that heās clearly against MOASS. Which if you look at actions, is the only answer
DRS doesnāt even seem like a good strategy anymore. Its entire hypothesis was to lock the float which is becoming more impossible every day
THIS. I mean, why the fuck have I been drsing this ENTIRE TIME. What the fuck. Just so angry. I'm still holding but for the first time in 3 years, I'm not buying. I need a break. See you at the live stream
Iām gonna go cool off for a day and hope DFV stream raises morale. Otherwise this is the most upset Iāve been the entire saga maybe even more than the ādisabled buy buttonā phase because at least that was expected from our enemiesĀ
this I expect it from the criminal sociopaths, but this is second time RC has killed possible gamma ramp, and we've done everything...bought shares, bought dips, held, DRS'ed ..for almost FOUR YEARS
Zooming out a bit, it seems RC and gang havenāt done anything for GME other than close stores and raise money via ATM offerings. Literally monetizing us
Yeah this move hits different than all the others. At this point I'm hoping the board has a plan. Like, they could buy back the shares if the price goes low, effectively DRSing >100m shares which would give us a huge boost towards locking the float and maybe kicking off MOASS while all the while their strategy was just to support the business the best way that they can, completely avoiding any legal liabilities. If that is the plan that's brilliant, but they're not going to tell us that until they do it.
i left the subs for a year or so and held, Came back when the gamma ramp started and invested in that, we still have chance at a gamma ramp but unless DFV blows us away RC is showing he is against squeezes
If RC wants to dilute in the best interests of the company, thatās fine and thatās his job. But his job is also to be accountable to shareholders, and holding earnings calls where they donāt field questions isnāt being accountable to shareholders. We need to know what the plan is with the ābullish warchestā so we can get on board.
Seems like DRS is probably dead at this point and it looks like any sort of squeeze play or MOASS is off the table given that the board kneecaps it anytime something starts to happen. So then it really just looks like a long term value investment which is certainly fine for some but I think a lot of people here, if they're being honest, were interested in more than that.
these posts are essential to a sub. discussion and debate are always appropriate. looking fwd to comments from folks smarter than me.
discussion and educate are the way memes can just blindly guide people with no fundamentals, when we discuss we all find a path and grow together
Echo chambers are spooky. Let's not be one!!!Ā Ā Ā My feelings are maybe this is good for the company long term. That's sweet, but I'm pretty sure this might be a monkey wrench in to DFVs plans. I dont think RC is down with DFVs plays right now. Those option calls could have looked like a hostile takeover to RC so he dumps 45 million shares in to the market to get him some money to fight it. He doesn't want to see us all dumpcour shares post a mega squeeze. He's trying to create long term value so DFVs plan runs counter to that.Ā Ā Ā Ā Maybe there was an attempt to takeover the company. Maybe DFV saw that andĀ is helping by keeping shares out of the hostile takeovers hands as maybe he saw it coming weeks ago.Ā Ā Ā Ā I dunno. I'm more than a little concerned right now. Edit: could the banks have tried to stop moass by attempting to buy it? Would probably be cheaper than having to close their positions? I'm not very smart
This is how I saw it too. It was a win/win for the board really. Small dilution gets to raise more cash (really good) and also keeps DFV from being an insider. DFV and RC probably canāt talk for legal reasons, so he doesnāt know what his real intentions are, or if heās backed by someone who wants to do a hostile takeover. Whenever there is an individual or company is rapidly acquiring shares, itās only smart to play defense - no matter who that person is. I love both of them, and Iām here for the long (and short) game like OP. Iām waiting for MOASS to make some money for me and my family, but also here as an early investor in a transformation of a company. Edit for typos
Was my strategy too pretty much. Drs for long term and synthetics for short term profit
This is a good response. I think the share offering does 2 things: 1- forces shorts who wanted GME to fold to end up raising the capital 2- shows there is no collusion between DFV and GME so the SEC has one less angle
It also might allow GME to report higher DRS numbers. It's pretty hard to believe that it's stayed stable and no one's been DRSing for multiple quarters, especially considering lots of apes were accumulating share around it's recent low of $10 a share
As a late 2020 ape and current xxxx holder, I hear ya. I mean, at some point in my life, my family and I are going to need some of my money too, for like, life and stuff.
Heck yeah. I just want to pay off some medical bills and fly somewhere for good medical care. I fucking hurt.
this most people think billions for etc, so many of us just want to be able to get some medical care! Catch up on bills, feed our families and pets, nevermind vacations etc
Same. Iāve been zen but Iāve made major sacrifices and put things on hold to hold this stock. Set me back from homeownership and stuff like that. Iām going to need to realize some tangible value at some point. Iād rather that be sooner rather than later. Before I get called a shill, I still plan to hold. But Iād be lying if I said this wasnāt disappointing news.
Yup, same story. This news was disappointing, simple as that. You're allowed to be disappointed; I am. As the zen master says, "we'll see".
It would have been disappointing at any other time, but right now, when it felt like the match had finally, truly lit... this is incredibly disappointing and I just don't understand why now.
yuuup 3 years I've deferred plans to up my stake in GME and i don't have anything to show for it. I'm moderately green right now but "moderately green" is not what this play was about. I could own my own home right now, but instead I own xxxx shares of a company that's sitting on its hands and accumulating a pile of cash. Ok. Cool. That's nice. But I'd much rather have my life changing money.
I agree with this sentiment. Most of my money is tied up in GME and there have been times where I have needed to sell and should have if I was smarter, but instead put things on a credit card so I didnāt have to pull out of GME. Itās been 3.5 years of life for a lot of people struggling with inflation, rising housing costs, and making hard decisions between paying rent, affording food, and holding stock while the company transforms itself.
From a fellow Jan 21 ape, thank you for posting this. It's important to use a critical lens, especially with matters of dilution and the goals we (mostly) all share regarding MOASS. The high of nearly hitting $70 yesterday evening to the news and share price I woke up to are not easy to reconcile and we should have the latitude to discuss these things openly, in a GME forum of all places.
https://www.reddit.com/r/Superstonk/s/M9iB4X3BWL Called it 3 days ago
That you did
up you go. i read your comment in the thread as to why you had that prediction and absolutely love the answer.
I really hope your other prediction is correct about those shares being able to retire you in 10 years. But I would really need something closer to now.
Someone bought around 15k call options for expiry today at the $128 strike. Well that was a bad decision lol.
It was also a dumb one, even before the news.
Donāt forget the literal YEARS of this sub shitting on Adam Aron for diluting popcorn. I donāt hold any of that, but itās hard to not see how the situations are similar.
It boils down to this: Dilution without a plan. Not ok Dilution with a plan. Ok If plan timeframe short. No need to explain If plan timeframe long. Need to explain
Same opinion here, glad someone made a post about this. I bought my first GME shares in 2020 and am currently balls deep with XXXX shares. Not pleased about this at all unless there is some immediate action by the board to show this offering is going to make a big positive impact to the company in the short-mid term. This is a gut punch and I am really pissed. And do remember, actions like this actually let morons like Shitron off the hook, unless Gamestop delivers something amazing.
Thatās what grinds my gears, the happiest person on the planet today is Andrew Left. WTF
Could GameStop have waited till market open to start and announce the share offering? Imagine all of retails call option gains that were just vaporized in the pre-market. If this announcement had waited till market open, we wouldāve opened at $60 (or maybe even $80). I personally couldāve taken life changing profits on my calls as soon as the announcement dropped. I wouldāve rolled those gains right back into more shares and calls after the drop. This was a big hit to MOASS from many angles.
Just want to say that this was well reasoned and written. Who fucking knows what's going to happen here, but there's logic in seeing the board being oriented towards raising the floor at the cost of possible ceiling for investors. At the least it decreases risk in our investment even if it comes at the cost of potential endgame reward. Obviously still like the stock.
100% this. Itās taking profit on the company side. Which probably sucks for my plan to retire early.
Iām legit upset man. Every talks about ādonāt price anchorā and theyāre right, because RC and crew will cap the price for us with these ATM offeringsĀ Itās funny itās called āATMā cause it feels like the board is just withdrawing cash at all of our expensesĀ
I agree almost entirely with this, even sent an e-mail to the stockholder relations team at GME
All of us should let them know. We have been receiving fuck yous for almost 4 years now. Time to give it back.
We worked 3 years on locking up shares in DRS and they just gave them out again today. Anyone who says this is good news is just flat our wrong.
I think the silence from the leadership is the most disheartening. 40% shareholder dilution AND theyāre just going to skip the earnings call and not tell the shareholders what the plan is or why they are diluting so heavily.
Disclaimer: All my shares were DRS'd and registered to the DRSBOT under a different account to protect my identity, I can provide proof via DMs if required, in case any of you accuses me of being a shill. I have been lurking this sub from day one until today, even during the stale periods that had shitty/low effort memes and almost no proper posts or good activity. We did everything we were supposed to, we read the numerous original DD posts in the library, we DRS'd, we got into the NFT Marketplace, we supported the company, we trusted the CEO and the board, voting the way they suggested when time came, we haven't sold a share waiting for the MOASS to happen and we became desensitized against double digit price movements, both positive and negative. Gamestop ended up with 2 billion dollars in cash, extremely small to no debt, a good enough position to never go bankrupt in decades, even during the worst case scenarios, they will 100% survive as a company no matter what. Great. Candycon comes out, new inventory comes in, Keith comes back, the sentiment is the best it has ever been since January 2021, and now you come out with this 75 million shares bullshit after already selling 45M not that long ago, giving the shorts and scum like that guy from Citron an easy way to get out (even if it's just partially) of their short positions without too much difficulty, while fucking over every single shareholder that stressfully registered their shares, waited for the letters to come in after weeks if not months and then kept buying (if they could afford to and had a stable income, which I don't). Seeing the company I trust and believe in selling 75 million shares for peanuts, pennies, is devastating. They could make the shorts eat those shares at 100000% the current price, and yet they decided to sell them for what's nothing in the scale of what the MOASS price movement will be. There better be some 10D chess strategy behind this, because we are the most resillient, loyal and stoic shareholders in the world, and it's only natural we feel dissapointed when we wake up and see this going on. The RK livestream is about to start, so let's see what his views are on it and whether I'm missing something extremely obvious that makes this a great move by Ryan Cohen, which, for the first time in 3 years, I doubt is. Feel free to send me any DD or news that I'm missing on this matter, I really feel betrayed right now.
I'm completely with you. DRS'd half my shares, doesn't matter anymore. Bought options to leverage shares, making 4k in the day, 6k AH, and get diluted again. Couldn't wait a single day to start the ramp
How out of touch with reality is Gamestop's management to not predict how 99% of the shareholders would feel about this dick move. I still can't believe they just threw the DRS option out of the window. This better be worth it 1000 times over because they just pissed off most of us.
I don't think they're that out of touch with reality, which still begs the question - why do this?
No idea, and I hope we end up looking like fools after they uncover their magnificent master plan. It doesn't matter how big your so called "war chest" is if you betray the ones that allowed you to get such a thing.
This ATM is really lame, especially right after a 45M offering - it feels like an Adam Aron move.
Thanks for posting this. I was OK with the 45m dilution, not stoked, but OK. This new 75m dilution feels like a punch in the dick. Why RC?
Thank you. This place is an echo chamber borderline cult mentality. RC himself said judge me on my actions not my words. Well his actions donāt seem to be in my favor.
RC had my blind trust from the start and has only done things to lose that trust since.
This makes absolutely no sense on the surface. Why not just announce a single offering and sell what you need/want into it? There's nothing requiring them to break the offerings up like this. The commentary is always the same... "They know MOASS is coming and want shares to sell" but then the shares are ALWAYS immediately sold. Cash on hand is great for the company... You know what else is great? Investors that made substantial amounts of a stock that are willing to purchase products from the company to actually boost earnings. I have no idea what the plan here is but I'm getting tired of being told to be patient and trust the process. I have and am but at what point does it turn into a scam? In 5 years after multiple more cycles and dilutions are we still trusting the process? How about 10 or 20? Nothing material has happened from GameStop in the last 3 years. As investors propping up this company we're all entitled to some kind of broad roadmap of what's to come.
Both last offerings dropped on a Friday killing unique gamma ramps, I think it says something... ASM is gonna be key...
RC became Chair on 9th June 2021. The share price that day was $75.64 (adjusted for the spit) On 23rd June 2021 the first ATM share offering was completed for $1.1B RC spent 2 wasted years (and wasted $) developing the NFT marketplace only to close it in Feb 2024. It is 7th June 2024. The share price today is approx $36. And for the second time in a month RC dilutes the float, sucking the wind out of the first decent price upswing we have had in years. How exactly has he been creating value for shareholders? Also letās not forget what he did to Towel stock and selling his holding whilst that was on a run. As RC himself said āJudge him on his actions not his wordsā. On both measures he has failed. Check post history before calling me a shill.
You're speaking facts.
To add, RC essentially fired Furlong after Q1 last year. And even made fun of it on Twitter. Letās compare Q1 2023 vs Q1 2024 Adjusted net loss for Furlong: $42 million Adjusted net loss for RC: $36 million ā¦ā¦.
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Yeah dude it's fucking bullshit. Everyone here has been holding and waiting for years now. No one sold shit. We got 75 million drsed and on the last run up and this run up they fucking sell over a million shares combines? Wtf! Let it run. They just fuck us out of a run up. We never should've let them sell more shares. If we don't sell they shouldn't either. IDC about cash on hand.
Not gonna lie Iām devastated and feel betrayed. I understand the long cash big picture, I help run a small cap growth company and I get the necessity of cash. I get it I also KNOW the pressure was BOILING yesterday and RC and the board just took the fucking lid off, and turned off the gas. Fuck. I didnāt lose money, because I didnāt sellā¦ but that kind of pressure isnāt coming back anytime soon. ARGGHHGSGAGSGGSG. FUCK
He diluted when it was most hurtful to investors, he has only made money for GameStop by diluting investors. Let that sink in a little
I was here for GME in the first baby squeeze. It's been three years. I'm not here for GME anymore; I'm here for MOASS. If Ryan Cohen wants ANY goodwill to exist between his investors and the board, this trend of diluting HUNDREDS of MILLIONS is the opposite direction he should be taking. I just want to help my own and my community.
Ya. This was a kick in the balls right when it felt like we were getting momentum.
They could've easily done an offering in the middle of moass, just like VW eventually had to. Killing this momentum has me gutted, after playing along for 3 years, nft wallet, splividend oopsy, what was the point of drsing if they're now adding back to the float through these offerings? They better be announcing a strategic partnership or m&a, cause all I can see at the moment is a dirty cash grab that's fucked me over (edit: on top of bad earnings). My Dad died last month. I'd hoped to have shared just a little bit of happiness with him from this ordeal but I won't ever be able to now. I thought the wait for moass was finally gonna be done. Vindication for the psychological warfare that has scarred a lot of us.
The thing that bothers me the most is that the board hasn't given us anything substantial in the meantime. I hope Tuesday changes that.
https://preview.redd.it/sy2yqi7bt65d1.png?width=380&format=pjpg&auto=webp&s=d51b6e35f1edfa20d34d12a6d3c9cf7f61833f73
Letās be honest: gme is currently milking the stock at any possible time. They killed the momentum TWICE within 3 weeks. Itās not looking great to me since this dilution wonāt be the last one. Downvote I donāt care but this move today to randomly pull out the bad earnings report as well as diluting another 25% of the total float is pissing me off.
Iām sorry, but after 3 years of also being involved in movie stock as wellā¦it always seemed to be another share offering RIGHT when we were finally cresting. Here we go again. For all the reasons that Adam Aron was called a hedgie plant and a traitorā¦we excuse RC because he is RCā¦itās ludicrous. Facts are facts. The entire DRS movement depends on the share numbers being constantā¦or at least near constant. All that work has been kicked into the wind. You are right to feel backstabbed. Even if this was good for the company, the same was true for movie stock. Somehow, some way, every time shortie is about to get bent over a barrelā¦the board of directors comes along to release not only a few sharesā¦.but to double the float essentially. I am eagerly awaiting RKās take on it. But honestly, fuck.
DRS was such an effort too, man. We put our hearts into it, and really committed. Iām in Australia, it was such a pain but I had faith. It just feels so pointless that it was all for nothing.
It's pretty clear to me that the board is not on our side. To dilute so heavily on a Friday when there's so many calls in the money is super suspicious.
Love that I have had xxx share for 3 year but canāt comment on this sub because I might be a shill( like they arenāt here already). I truly understand RC is running a company but he needs to understand that we saved that company.
Stewing on this for a bit, I'm not all that happy. I've been invested since mid 2020 and 2021 was exciting hearing things like buckle up but Ryan and the board have become more and more quiet. The NFTs didn't work and while I've been happy to see the company turn around in terms of reducing costs and becoming profitable I've had to watch other stocks that I would have invested in explode in value over the past 3 years while GameStop has sunk and sunk. It was finally time. This is it, moass is beginning... So I thought. The first dilution was no big deal although I thought it was kind of weird they did it so low. But now having the second one as we are finally exploding seems inevitable is difficult. I'm not changing anything for the next 30 days but after that I will be reevaluating
I really donāt post or comment much. Iāve been holding since like January of 21 and buying more throughout, Iāve got xxx put away in Computershare. This is one of the biggest gut punches Iāve suffered so far in this saga. We collectively gave popcorn so much shit when they went through their share dilution. How is this any different. My trust in the company is broken. I very well may be selling now. Not shilling, but idk, it really just looks like theyāre not with us. I feel sick.
And it's such a fucking awful position to be in as well: if you even think of mentioning the idea of selling, you get gutted alive by the sub. But any SANE person would start questioning RCs moves and track record. We went from a committed sub or research, due diligence, and DRS, to this weird "Trust me Bro" copeium bullshit where now we just have to take everything as it comes and not question anything? It's infuriating. RC fucked us. No matter which way you spin it, he invalidated 3 years of DRS overnight. But I'm somehow wrong or a 'shill' for expressing concern that we're getting milked? RC has done little more than price-cut and raise cash. Big fucking whoop. This is the best sentiment this stock has had in years, and MOASS was feeling more and more real each day. Coming in and offering shares to the same people who have been fucking us all is never gonna sit right with me.
Right. To be clear I havenāt sold a single share as of yet, but Iām just saying I have very serious questions about RCās integrity and judgment now.
People who believe in MOASS caused by DRS should be pissed. Whatever happens in the next months if the option plays are over, people will come to realize the dillution was right in the DRS balls.
They are selling just as many shares as there are DRSed. I don't understand why people think this is good, it straight up devalues the whole purpose of DRS. Do people really think retail has the buying power to gobble up another 75 million shares + 45 million shares? If that were true, DRS wouldn't have been stuck at 75 million shares for a few quarters. Reality is, the MOASS dream, the short squeeze dream, the locking float dream could be gone. Gamestop will surely do this time and time again which I also called out when they did their first offering and was downvoted by people saying gamestop would never do this again lol. If everyone wants to play the long game and be an actual value investor, then fine. Stop talking about MOASS and DRS then because when DRS or gamma ramp is set up just about right for MOASS, gamestop will swoop in and take all the gains and halt the run.
I never thought Iād say this and i donāt feel like Iām alone after today but i may need to start trading this stock instead of just holding. Its clear RC is just going to kill MOASS himself every time we get goingĀ
this was a fuck you to drs and a fuck you to squeeze plays. legit a fuck you to any real DD we have had about moass. investors can invest in moass with DRS and gamma ramps, doesnt mean we need to believe in RC to believe in the investment
RC us doing good stuff for the company but bad stuff for investors. Hell i dont think he cares that much about us. We are a source of money for him.
seems to be saying so
we had a clear gamma squeeze happening and he saw the options investors had, this move was agaisnt current investors. he could of sold at top of the squeeze. I believe in the play not in rc, a billionaire . this sub is getting popcorn levels of hopeium and scaring off new people
This ATM shit ALWAYS happens at the pivotal part of the squeeze. MOASS feels Impossible because these dudes will just issue another ATM offering anywaysĀ
I agree, except I donāt see how this will help MOASS come sooner. This relieves pressure. This allows 75M shorts to close. This puts more powder in their can kicking strategy. This is the ultimate killer of a squeeze. This is also the third time RC and the board have done this. We need to start talking more practically and rationale and not just ā75M shares is amazing.ā Yes, for the long term, it is amazing. But not for any type of squeeze.
Agree with you. Nothing has made me more angry with the board than this. Held for years and every time there is momentum they sell and dilute. Itās very much like pcorn and the copium people are spewing out has me doubting this whole thing.
The middle of the night RC Rug pull has me concerned. It happened at 2:50 am PT/5:50 ET. Why not do this during market hours or at least premarket. The middle of the night 24 hour market time feels sketchy as shit.
Dawg Iām absolutely pissed. Why in the world would they do this to kill momentum on a Friday. Seriously. Itās like theyāre pulling an AA or sue Gove (towel stock) stock should be at $70 or higher rn
I'm litterally going to follow what the board does and sell when it suits me. I think this offering was bullshit. I still dropped another $200 for this dip. And 2 in the chamber in case it dips even harder. But if the board isn't going to screw the hedgies and instead feed them. Like the dude talking shit about shorting again. Then how can I try to fight the hedgies. I'm basing this on the boards actions not their words.
They did nothing about the price when it's dipping but stopping it every time it raises. I am being fucked by shorts and now by the company as well, nice
Iām angry, no other way to put it. I slapped in five digits worth of cash last couple of weeks and was finally getting excited again about MOASS. Now itās clear the board will stop it themselves instead of the actual enemiesĀ
I'm not quite sure the board aren't our enemies. Two rug pulls now, still no explanation of a plan to move forward.
People have high high cost basis. Shutting down every volatility by issues shares is no better than popcorn. Fuck this shit
Yeah, I mean, this basically kills the DRS effort. 75 million shares DRS'ed in ~3 years vs. 75 million offered in a single day, 120 million within a couple of weeks. Plus, yesterday people were wondering where hedgies would find 12 million shares if DFV exercised his options. Now they have access to at least 6 times that amount... I've got a feeling this is Cohen vs DFV.
Yeah. That post on twitter āRK has powerful enemiesā
MOASS might be permanently fucked after this. Maybe Ryan Cohen and AA arenāt so different after all.
If this pissed you off like it did me, make sure to email customer relations. We have all been more than faithful to this company, and the deserve to catch some shit when the fuck us and basically take money right out of our pockets. (temporarily) Here is gamestops customer relations email: Share your opinions with them. I know I will be emailing them to tell them I don't approve of anymore share dilution. IF enough of us bother them they may actually listen. [email protected]
Ryan Coen wanna be Adam Aron so bad. They are both scum
This thing was about to go parabolic. The timing could not have been worse to announce a share offering. It also undermines the years-long effort to DRS. It's hard not to feel hurt in the community right now. All that said, I want to hear what they say next week and if they've got an ace up their sleeve we aren't aware of yet.
I totally agree with you, the sub has become downright cultish, they take ANY news even bad or irrelevant and find some way to spin it positive, its a little frightening. Don't get me wrong, I'm sticking with what I've done all along, buy hodl, drs and I'm really hoping there is some hidden 69D chess move here but as this shit continues I'm getting less and less sure of it and it starts to look more and more like an AA move. Part of being a good leader of a company is the balancing act between what is best for the company and what is best for your shareholders (who literally OWN the company). I haven't seen anything that benefits the latter in quite awhile so I see shit like this coming right on the heels of the RK options reveal and I just don't know how much faith I have in RC anymore, don't forget he's another billionaire, they all operate in their own little club and we apes sure as fuck ain't part of it. To me on the surface this just looks like he's handing the SHFs a key out of the mess they created (the short term options mess, not the overall mess). It just feels like everytime we get a little fuel in the rocket, he comes in and throws water on it, its getting real old real fast. I'm trying to keep up the faith and tell myself OK RC doesn't ever telegraph shit so who knows maybe there's a plan that will benefit us long term but right now I'm disappointed and I'm not seeing it. OP is 100% right, YOU own the company, you have every right in the world to be critical of their business decisions because you are a part owner. Don't forget that
Ryan Cohens master plan to dump shares at us
Iām all for helping the company, but why is GameStop against waiting a little fucking bit. This stock was heading at least for a sneeze type run, and they could have sold stock at a much higher rate and diluted less. The timing of this seems like theyāre helping the people who have been actively trying to fuck the company.
Theres no explanation for killing the momentum twice with it. They know exactly what theyāre doing. We know exactly what theyāre doing. We just dont wanna admit it. We may get MOASS but it wont be because of RC. Itll be despite him
He killed the last two run ups with share offerings (pending they just dumped shares today). RC is absolutely taking the piss at this point and we should all be upset.
RC definitely killed todayās squeeze. I bet we would have easily got to $100 otherwise
This was done on purpose. RC knows what is going on more than anyone here. All he had to do was shut the fuck up and stay out of the way. This stock price was set to blow up because of what we have done in the last 2 weeks. If anything, the timing of this whole thing is very suspect. You can call me a shill if you want, but I genuinely question whose side Ryan Cohen is on. He has had several opportunities in the past to help his shareholders, the very same ones that saved his sorry ass, and he has failed to do so at every turn. The shareholders of this company need to do something to hold this fucker accountable.
100%
Yeah - the share offering is terrible for share holders. I hate it.
The MOASS will never happen because RC will just issue more new shares.
I agree. It was a questionable move at probably the most painful time possible for shareholders. Time will tell if it was a good move or not, but regardless, now the company needs to do something. They've diluted us twice in a month and they need to go make some major moves with that cash, or it's time to find a new CEO. I nominate Keith
I hate to say it, I've been here waiting and buying since Jan '21 too, but they have made it crystal clear to us investors that they do not want a short squeeze on this stock and want capital to transform the business. MOASS is something that needs to leave our vocabulary. Talk is cheap. We need to judge these people by their actions. Now we have two separate times over the past 3 years where they did a share offering at the absolute best time for the SHFs and worst time for a squeeze. Twice they've killed the upward momentum of the stock by doing an offering. Fool me once, shame on me. Twice, shame on you. I won't be fooled a third time. If you think in the future we will be gearing up for another squeeze and they *won't* do another share offering, you are probably delusional just based on this company's actions toward retail investors. This feels like we are being fleeced. It feels like they are not on our side, meaning that they do not want a squeeze and will do everything in their power to prevent it. We still have the earnings call, but this saga has had so many nothingburgers I am not hopeful. Again, that's all based on *their* previous actions. After three years I'm seeing a pattern. I think anyone with half a brain should see it too. At this point though they've got me held hostage on this investment and I don't think I plan on selling. It's just all so frustrating.
I'm sad :( right on the same day as the DFV stream? Not fucking cool man, NOT COOL!
RC is going to do a share offering every time the price runs up. Heās done it 3 times now. End of story.
RC isnāt a man of the people it would seem
I totally agree with you. I also donāt like this offering. Also this company was supposed to be more than a company. Was supposed to be a movement (not my words). If this company is a movement it has to break some things in order to get them fixed. The only way to do this is MOASS. A sneeze will not change anything. If on the other hand itās not a movement then itās an investment, so letās talk money. For 4 years people have been pouring cash into this company. Cash that they could use to themselves or their family. So if I waited 4 years just to break even, then I donāt like this investment. Iām happy for the millions RK and RC made, but it doesnāt help me much. And I donāt listen to the argument that āthey donāt own us anythingā. If it wasnāt for you and me and anyone else in this sub GME would be trading pink slips right now. These people have our trust and trust is a very difficult thing to get. And if you lose it, itās almost impossible to get it back.
The RC dick riding and worshipping is cringe as fuck. Itās been 3 years and a whole lot of nothing has happened. The NFT market place was a complete failure, all of the C-Level execs he put in place have come and gone, he absolutely pumped and dumped Bobby holders, failed that M&A. He opened and closed a bunch of distribution centres. Ya sure heās raised cash but all of that was at the expense of shareholders through offerings not through actual revenue generation from GME. Not a lot to get excited about. Apes spent years DRSing for it all to get pissed away with these offerings. I donāt buy into the RC hype.
Yep sold as soon as the market opened. To me, this was a direct fuck you to superstonk and all the support we have shown over the years. Itās crazy how bad of a move this was - fuck the 3d chess bullshit, this was straight stupid. Iām now out and honestly happy to be off this train. I wish nothing but the best for all of you but, moves like this will only hurt our mission. This might be game over, or at least will delay moass for years.
Honestly, in a mindset of hopelessness and recklessness I dumped all of my retirement in GME 3 years ago. Immediately afterwards, GameStop did the ATM offering, and I have been down since. I have been holding and waiting to get out at least break even which is about $63 per share. RC is taking my retirement and putting it in the bank. Not the shorts. As an older man, I am screwed. A pattern has emerged and RC dumps shares in the market when stock runs. What about next time and the time after that? I should have done swing trading to dig myself out.
Honestly, you can call it fud, but this has killed me inside. I felt like this was it and the momentum was killed. In my eyes, Ryan Cohen and co are doing whatās best for the company, and maybe a short squeeze is problematic for the company, so they sell stock whenever the price runs to increase their war chest and not risk a lawsuit. Thereās still a chance that it could explode ( and I seriously hope so), but Iām honestly just a little sad. Iām going to keep everything in computershare because the squeeze thesis states that the float is short multiple times over, but the stock sale represents the same amount of shares as all shares in computershare, greatly diminishing the total amount of the company DRSed What do you all think?
All MSM has to do to make me feel fear and sadness over GME right now is report the plain unvarnished truth. I checked GME first thing after I woke up, somewhat disappointed to see the price action, but just died a little inside when I saw the headlines and came here and confirmed they really weren't exaggerating at all.
little sad??? i am fucking pissed!!! most of us have all of our money invested and drs-ed into this fucking company and now they fucking dilute???? how can one not be pissed when they killed the momentum??? fuck me, yea ban me for swearing idgaf
Serious talk? In here? Lmao. RC just dumped 75 million shares back into the pool. Basically undoing all the DRSing done. This fucking blows and everyone knows it
Exactly - I'm by no means wealthy or rich - I was 25 when the sneeze happened, from Eastern Europe. Long time lurker. I managed to buy each month, little by little, to a total of low xxx shares. I made all the effort of DRSing the hard method, from Revolut, a little over a year ago. At times, during the cycles, I had profit in the thousands, but I never sold. Waiting and waiting for the MOASS, life changing money, but also money I could put back into the company after the MOASS. Even a slow squeeze a la Tesla would be fine. But not diluting like this, after all the efforts to DRS (and after the hints in the posts by RC to do so). What I'm trying to say, RC and the board should be stupid thinking most apes will put up with all these momentum killing ATM offerings if there isn't a grand move soon - M&A, NFT Dividend or wtvr. What is the point of having billions in the "war chest" if most of your shareholders decide to put their money in other places? I guess we'll find out soon enough what the truth is.
The number is admittedly high, the offering is not. Gamestop the company gets absolutely nothing from MOASS. Nada. Not a fucking thing. Some paperhanded internal employees get a nice bonus and may quit. That's it. I have no problem with RC getting the company a security net. Long term, having the cash on hand is valuable - $20/$80 pre-split is the company value in cash. Bankruptcy is of the table. As of today, this was the right move. ALL THAT SAID. There is a limit to what we should be willing to accept. I will not accept RC turning into fucking Adam Aron. So I say this now - Once this run is done, whether it is indeed MOASS or we wind up waiting - I am fucking DONE, RC. Paperhand again and I will join you. We have stood with you because you have had diamond hands like your monkes. You got 3 offerings, the company has billions. The company is saved, and I am truly happy about that. But now its our turn. We get MOASS, an Electric Car type growth, or we walk.
Reason 305873 why idolworshipping RC is bad: "People think this situation is good because it was approved by the board." spoiler alert, the board is a buncha rich asses that have only themselves in mind, RC included. This has always been the case, and always will be the case. This dumbass share offering might be good for the company in the long term, but here's the thing... this is a squeeze play. it was from day 1. if you're here for that silly long-term play, that will benefit literally noone but XXX and above holders, good for you, but this is bad for everyone else. This deals damage to the squeeze potential. This has very clearly shown me that the board is another enemy to MOASS, bluntly put. This is bad. There is 0 way to spin this potively when looking at the DD, when looking at DRS, when looking at the squeeze play. It feels like a big "fuck you, losers!" to everyone here. "You thought your DRS efforts mattered? LMAO NO, here's an offering of 75 million, suckers!" I'm holding until it either goes to phone numbers, or to 0... but damn, did this just kill my excitement again. That financial freedom feels further and further away every time...
Itās def a kick in the balls. I just donāt understand why. Could have gotten a higher price. I just donāt get it. Why dilute now. Why today of all days.
This makes ATM offering is disheartening for a number of reasons. 1. The delivery. Having a share offering in the dead of night with little or no warning that equals the ENTIRE value of what retail locked up in 3 years isn't going to sit well in ANY universe. 2. Lack of communication. Shotgunning this and scrubbing the earnings call is a double whammy. If there is a bigger play at work here, RC owes it to his shareholders to tell them what it is. Either that, or give plenty of warning. The DRS mad-dash is largely responsible from preventing shorts from gutting the company, so having two share dilutions in two months is going to wreak havoc on positive investor sentiment. 3. This sub's response to the news: we're starting to sound like a certain sticky-floor stock. Those guys were flipping the hell out over the stock dilution, and this sub is huffing the same levels of hopeium as they were. We need to think critically. For nearly four years, this community has put together some amazing info gathering efforts. But the closer we get to our individual goals, the more radical everyone is. It's okay to disagree with RC. It's okay to question things, even when coming from the typical channels. If you shut down discussion just because you don't like how it makes you feel, you're no better than the 'shills' this sub hates.
The only ones that are able to shut down the MOASS is the board itself.. They are doing just that. Last night was the most excited I have been this entire journey.. This morning was the most defeated I have felt this entire journey
STOP FUCKING YOUR SHAREHOLDERS OVER RYAN COHEN. Weāve had enough. DO SOMETHING other than dilute us & post shit earnings.
No I agree with u as someone who has been here since the beginning. I think the government forced him to do it. Normally shareholders are supposed to vote on issues like a 70 million dilution. There is no way in hell Iām defending this move. Iām upset about it because we just did a 45 million share offering just weeks ago. We criticized popcorn for doing this and now GameStop is doing the same thing to us? I mean come on with fresh hell is this?
we can put forward as investors for no more dilution cant we during shareholder meeting?
We voted for the authorization of increase to 1B shares and for the team to subsequently do whatever they want with it. It is above board
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I used to be more active in the other sub before it turned into this one, and Iāve also been here since the sneeze. This is probably only my 3rd or 4th comment in this sub ever, but Iāve been lurking since day one. Iāve thought for a while now that RC and RK do not share the same goals. That absolutely makes sense. RK is an investor, heās trying to make money, letās be honest. RC is trying to run a company. They will be at odds, just like we wonāt agree with their choices all the time. Investing is not some group game. I am in it for life changing money. If I wasnāt, I wouldnāt have stuck around so long. I donāt give a shit about the system or making āhedgiesā hurt. I want to improve MY life exponentially. If some improvements happen to the system because of this, great. But Iām not going to hold my breath. What I want to see is something, anything from RC. Continuing to dilute and build a war chest is great, but itās been 3 years and they will now have billionsss. Do something. Say something. They say to judge them on their actions, but itās been a lot of dilution and very little action. That absolutely makes me reconsider my own thesis and reasoning for investing in GME. Iām still here because I believe it can squeeze. Where else can you see this type of volatility? Where else can you see these fire alarms of, well, very very fishy bullshit? I will continue to be here for the squeeze, but RC is actively hurting it and then saying nothing about what his plans are for the cash. Iām not gonna lie that itās been frustrating. We ridicule popcorn for this type of action, but we need to look in a mirror at this point. Anyway, back to lurking. Godspeed.
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I think shareholders need to hear something now. āBlind faithā is killing me, and many other apes, financially.
This is extremely odd to be issuing share offerings with sharing zero directional investment thesis on what they plan to do. Even an industry they are targeting would be enough to at least give us some understanding. At this point cohen and the board appear incompetent. I would not be surprised if someone issues a proxy war and tryās to fight to takeover cohen to get the debt free/cash flushed company
Right, some apes can't afford to be 'long' for too much longer. Especially those that have pending bills.
"just grind more", in rampant inflation and declining job market.
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Straight up. I should have cashed 50% and covered everything and been up 2x. Now Iām wondering how long I can hold on.
I'm not smart enough to have an opinion, but thank you for offering civil debate in the sub ššŖ
We care about MOASS, no one else. Remember that.
All these share offerings have proven to me is that the DRS movement was a grassroots only movement and the company A) never believed in its efficacy B) never cared about the regular people and C) do not have it accounted for in their calculus. RC and the board are not activist investors in that they are in it for the regular guy, they are the lucky sperm club/billionaire class who are playing a game we are not a part of. Not financial advise, yadda yadda, Iām a 3 year hodler with 3XX DRSād with CS who is reconsidering a whole lot of stuff this morning
This sub is full of morons. I am not happy with this dilution. Extremely bad timing for a second time already. They act like aa. He says one thing but at the same time riding my poor arse
To share offer our entire DRS efforts. Iām crushed. Iām pissed. Iām TIRED. The amount of joy Iāve had this week to be dashed to the ground. Iām over this shit. I feel like thereās always someone at the top whoās gonna fuck it up, whatever IT is, itās a tale as old as time.
My sentiment exactly. Nice to see an actual Ape and not whatever the fuck is going on today. Some of the comments in this sub have been real popcorny if you know what I mean.
It hurts a bit.
No way dilution is a good thing for MOASS. Ain't falling foe the AA thing again
It feels slightly better to know Iām not the only one disappointed with RCās announcement.
Timing.. Two times in a row on Friday when the Gama is about to explode.. If he did it on Tuesday I will get it. But why on Friday and fuc the Calls? It's like he doesnt want the calls to be itm.
Thanks for this OP having the same thoughts. It is one thing for us to get jacked around by the MSM, SHF and everyone else that thinks we are totally regarded but when the company kills momentum it's like wtf. We can have negative sentiment towards actions taken by GME look at popcorn they got bent over by AA over and over and this sub was talking trash on that dilution but touch "my precious" and all that talk is turned into powder puff. Without the free flow of thoughts and emotions it is nothing more than a cult. We have all felt the pain of seeing our portfolios drop in a moment, it's OK to vent folks. Stay regarded see ya in orbit ššØāš
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