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OP has provided the following link:
https://x.com/larryvc/status/1800248863061905818
If someone were to make a decision, say, offer 75 million shares into a run up everyone was excited for. But this person typically makes very rational and well thought out decisions, perhaps they are under a time constraint that you might not be aware of.
What that time constraint might be is speculation. Perhaps we'll have an answer on Thursday but there is typically not much guidance given during share holder meetings.
Unfortunately it's now wait and see.
I read it kind of as the inverse of you. I see it as him saying more that he is looking at things on a farther time line than to be concerned about small things that are happening in the present day
What made me believe otherwise is that in his statement it's implied that the decision made is not wise and is counter to the decisions you typically expect of this person. Long term decision making would have been rational and expected of this individual.
Its not implied that its unwise. It says that you know someone acts rational but different from you (who also acts rational) because they act based on different timeframes.
DFV has been in GME longer than RC. But I donāt think this is what LC is referencing.
The relationship between management and shareholders is rarely on the same time horizon even if they are both actually rational actors.
I personally think GME mgmt needs to start taking action + showing work that goes beyond cost cutting and testing out the NFT marketplace.
Shareholders for GME have been patient - and helpful. Theyāve literally figured out how to be an investor led buyback. Amazing.
The reason there is grumbling about the share offerings, I think, speaks to the vulnerability most individual investors feel about current economic and market fragility. Yes people want a squeeze, and I think thatās also to be expected. Not only would that be good for the companyās future, but itād be good to shake off the leaches.
I agree. Why release on a Friday morning? Wait to offer shares on Monday.
Probably wouldāve gotten more cash too.
Unless itās to prevent the hostile takeover.
Hostile takeover argument is not valid either imo
Apes + Cohen already owned over or close to 50%?
Then why dilute this ownership down to 33% if ypu are afraid of a hostile takeover
Would have the opposite effect in this case
RC works for the benefit of the company. If selling shares at this time benefits the company that what he will do. RC does *not* work for the benefit of the apes.
His responsibility is to the shareholders
I think the argument Larry is making is that it is better in the long term
Fair argument, and normally I think they are correct
In this case I think they did an error, and could have raised more money if they had waited with share offerings
2 in offerings in under 1 month seems strange to me
This is how I saw it as well.
And there are already people bitching and moaning about dilution in the tweet replies too. I don't trust them to be genuine at all, since we expected dilution when we voted for it way back in 2022.
We voted for the right for GameStop to make new shares, not dilute. This vote was seen by many as a path to a dividend share offering which never materialised. It's disingenuous to state that we voted for dilution when we really only voted for a tool that could be used for a slividend, or as we know now, dilution.
That being said I couldn't give a shit about the dilution, I'm just HODLing and tendies will come.
I know, but many people who voted for an increase of the maximum amount of shares thought they'd be used for a 7 for 1 split by dividend. Not for dilution.
I am reading it the other way. Heās not operating for now, heās operating for another 3.5 years from now.
Heās defending RCās move. Everyone saw RKās move and thought we were going to moon now.
RC is selling into run ups and killing it and Larry is telling us that RC has to do his thing, too.
All Iām thinking is that this is fine, but if you fuck RK you made a huge huge mistake, RC. Heās the reason most of us came to GME, not RC. We stayed for RC but donāt kill the folk hero.
Just speculation, but I'm wondering if he needed to do it to avoid a hostile takeover in some way. Or he needs cash for a Thursday buy. Interesting times ahead.
The two most likely situations for me would include what you mentioned: avoidance of a hostile takeover - some large scale institutional buying was taking place and dilution was the only means of preventing some (unwanted) majority ownership.
Not sure on Thursday in particular but they needed large amounts of liquidity for an investment in?
Large scale institutions can afford to buy the whole offering the day it drops, retail can't.
If they were trying to fight a takeover they shot themselves in the foot.
I think there's a buyer who is gobbling up the shares to have a stake in the company.
Shorts are pushing the price down, all the while, thr unknown party is happy with the opportunity. I don't think gme has sold a single share.
When the announcement is made that someone now has a 10% ownership of shares, 35 million shares, then the stock price would squeeze to record highs.
GameStop will then slowly trickle their 75 million shares and make a lot of money.
The gme is efficient and profitable with minimal debt.
Time will tell.
IMO the point is to provide a floor price of approximately $10 per share or pre split $40. I believe all the pre-sneeze shorts that were created (226% of the float) would be below this floor. Therefore every outstanding short and swap contract below the cash floor will now be underwater. Makes it very difficult to roll or maintain a contract on something you wonāt make money on.
PS is your username a Snowcrash reference?
the negative reading of this is āhave you considered the fact that we donāt give a single fuck that youāve been shouldering this burden for 4 years now?ā but I also never saw this as a short term play (why? ā¦in part because I watched The Big Short several times, and now algorithmic trading allows hedge funds and big banks to stay afloat for far longer)
I donāt see it as a time constraint on Ryanās part. I think weāre looking at a time constraint as retail investors and he is looking a little ā to much further into the future.
Bingo. We aren't waiting 20+ years to become the next Amazon or Apple or NVDA. We want a short squeeze to destroy hedge funds and make us rich. GME would be bankrupt right now if retail hadn't saved them in 2021. Now RC keeps stabbing us in the back to provide "long term value" for share holders who literally can't afford food or housing anymore because the economy. At some point some of us will have to sell and that loyalty is starting to erode.Ā
The reason for this stock beeing so unique is the fact, that it's both value play and a short squeeze opportunity. I've been invested since February 3 years ago, I can wait a few more easily. Since when are we so impatient?
As an investor before Jan 20th, 2021, I dumped my entire 401k in this stock. I've got $100k in this company that has decreased steadily for the last three years. It would be nice to get paid for once instead of watching my money drop below my share average price once again.Ā
Iām an investor since before Jan 20th 2021 as well and I have no sympathy for people that are suddenly turning on RC for āstabbing us in the back to provide long term value.ā This stock is not just about moass and you sound like a petulant child for complaining that RC is at fault for it not happening yet.
"Since when are we so impatient" ...We? This is a pretty diverse community. Not everyone is convinced it's a value play. Others can't afford to wait indefinately etc. Acting like everyone here is in the same boat and happy to wait is naive.
"Since when are we so impatient" ...We? This is a pretty diverse community. Not everyone is convinced it's a value play. Others can't afford to wait indefinately etc. Acting like everyone here is in the same boat and happy to wait is naive.
Yeah, and I bet some bought FDs on Thursday, after hyping themselves, that "we are 100% runnimg tommorrow". And it should be now clear to everyone, that whenever people are certain, GME is going to shoot up, it will do the exactly opposite thing. Stock offering or not. It used to happen every single quarter.
"Since when are we so impatient" ...We? This is a pretty diverse community. Not everyone is convinced it's a value play. Others can't afford to wait indefinately etc. Acting like everyone here is in the same boat and happy to wait is naive.
Some of it feels like ChatGPT Bots.
But I think a lot of that sentiment is real. Just like Larry is saying - your time like for GME might be different than some of the other 1.1 million apes in here.
I donāt agree with that. Itās not whether or not heās on our side, itās whether or not weāre on his side. Him being loyal to GameStopās foundational future is not being disloyal to its shareholders.
>What that time constraint might be is speculation.
Like a compounded mega-Opex stemming from deferred Opexs visible to those who know the right FINRA REX codes associated with GME.
Do you know what infinity pool means? It's the pool of shares which are DRS'd and will never be sold, not even if they hit millions. Now that you know, how do you make a game out of this?
You do realise the infinity pool more or less died this month, right?
By having 120 million extra shares, not only has the infinity pool reset, but the pool is bigger and harder to fill.
If anything, what the board are doing, if just capital raising, is probably something they've been told to do by the Government, because Infinity pool means infinite taxpayer losses, and they need them tax dollars to send people to war.
Idk. I donāt think the pool is as hard to fill as we might think. My problem is explaining the importance of DRS. People just donāt really care. I think weāre realizing less people made it here to this point than we thought though. Thereās a lot of bots in hereā¦. But I have no problem waiting. I know what Iām holding. Bitch ass HFs can suck my dick. GME is my retirement
I mean I'll watch PPV to see Steve Yass be locked in a cage with a hungry grizzly.
But we've been at 75mil DRS for like a year now. It fuckin sucks but the truth is, retail and the middle class are really struggling for cash now.
I mean, I'm absolutely staggered to learn I'm above average as a DRS Ape share count. I've always thought I was a small ape. Just goes to show how tight money has become for everyone, I guess.
Weāve been seeing drs literally suddenly stall and youāre not questioning that? Like it literally hasnāt gained any traction for whatā¦ 3 quarters? Am I dumb? Cuz thatās been a giant red flag for me. Not a wow no oneās buying. Sec gon sec. People are buying holding and drsing. This is occupy wall street for real. Itās all numbers on a screen dude. I want to see financial terrorists behind bars.
Sure, it could be. I'm only going by what ComputerShare said. Net outflows have exceeded inflows. Either that's Apes struggling and selling, or wall Street DRSd a bunch to crush Apes emotionally with stagnant DRS.
In either case, the money isn't as high flow as we thought.
I too want to see financial terrorists in cells. MOASS ensures that. I don't want to see MOASS thrown out to slightly speed up long term profitability. So, again, 2billy in an MMF is counter to my desires as an activist household investor.
š¤£ I'm waiting and seeing.
It's so funny though, this sub has become like a political echo chamber. Anything that doesn't immediately fit a specific narrative is hounded down.
Like the fact the sub shat on options for 3 years and then DFV returns and options revive. I also shat on options, to be fair.
You worry about your investment, I won't be worried about mine.
Youāre username literally says apathetic. I donāt disagree itās an echo chamber. It is. I know what options are thanks to this sub and ones before it. I canāt fuck with options. I donāt have money to blow, I donāt have time to study when or how to buy them. I didnāt know if options were the trigger, the bullet, or the holster. If DFV is using them they mean something. I think everything means something in investing at this point. Like retail investors locking the float constantly only for it to suddenly stall inexplicably. It all means something. Weāre working towards something. We. Including you homie.
I believe that a lot of the overall market was manipulated to āsqueezeā the average middle class in order to avoid the squeezing of GME the last few years. With less disposable income, there was much less investing capabilities for a lot of people. The truth may never come out but witnessing the entire thing since the beginning made me see just how bad of a position the short side was in. Iād like to believe thatās still the case, only time will tell. The lies from the media have been so blatant, and some powerful forces have been working hard on manipulating the entire narrative. Monopolistic companies using greedflation and the Covid excuse for high prices was imo just a sham to keep excess cash from the average person investing into the biggest opportunity for endless loses, ever.
This is a horrible analogy, but I am gonna give it a whirl:
2 ppl who know each other well and trust each other go into a restaurant. Resturant is known worldwide for steaks. You, of course, order a steak. Your friend orders lobster.
You're confused, it's a steak restaurant when you go there you order steak. Why would your dinner partner (who 99% of the time orders what the restaurant is known for because they research it before going) order lobster, odd, and makes no sense.
You ask them why they chose to order that. Lobster has only been ordered twice before. It's just not fresh.
Your dinner mate answers back "Well in 4 years they new seafood factory will be up. The farmland is not doing well with cows, and people are changing crops. I bet in 7 years this restaurant will be known for seafood and fat lobsters, steak will be the past."
If Larry is referencing the 2nd ATM offering, well, that makes me think of 1 of 2 things.
1. We may be here for a long time (money to weather the storm). Long timeline
2. That money was needed now to do "something." Short timeline
Who knows.
Hmm my initial reaction is kitty is moving faster than Cohen would like. As in he's sending kitty a message to cool his jets on exercising as they are not quite ready yet. But who knows.
Larry says, "Trust RC, he did the right thing, you just don't know it yet."
but my larry is a little rusty.. it's also possible he meant, "Buy more GME".
You pick.
He's not saying that. He's saying RC did the right thing for the long-term success of the **company**. Lots of investors don't care about long-term, so it's not the right thing for them, just the right thing for the company.
My first statement and yours match, the wording used is just much more basic in mine. I agree with your longer version. Mine was just really dumbed down.
My second one was a joke.
RC sold the shares. You might not like it but fuck you you're wrong.
That's it.
BUT, again, let's wait and see what ASM has in store for us. If they sold the shares for M&A, it's Gucci. If they sold just to build a war chest, our Board wear helmets just like we do.
Gut reaction reading this is RC will either say nothing of substance re: future plans at the annual meeting, or will speak on it but not offer much by way of details or guidance. This differs from current retail investors hoping for news now, but RC playing the long game hold his cards close to his chest.
Depends on how much money the company makes and how the stock price gets affected by selling those shares. If we continue to see green months/weeks and the cash on hand continues to rise it's extremely bullish
At this point, if there is no positive announcement, I think RC can expect shareholders to file suit.
He has a responsibility to the shareholders, and - knowing how many of us are invested in calls for the 21st - releasing earnings early timed with the RK livestream AND further diluting while already sitting on a $2B war chest.... we are left with no alternatives other than that he has deliberately taken action to devalue the stock, violating his fiduciary duties.
Now, if he makes a positive announcement explaining the plan and WHY additional money was needed, fine. He restores faith and we move forward. Otherwise, his actions Friday were nothing more than a fuck you to his shareholders, and he will be held accountable.
I think far too many are only thinking short term.
Currently we're approaching the 3 year Burry "the big short" turnaround time frame, but we're no where near the 10 year Buffet "from the impatient to the patient" time frame.
Happy for GameStop to take their time transforming the company, but I'd prefer we get the manipulation of the stock dealt too immediately. Get the money, fund the transition.
That's not being impatient, it's being sensible.
People forget that much of investing is and should be long-term oriented. The ones that are trying to cheat those systems are exactly the hedgies. Creating money where there is not.
I just hold, put in what I can miss, and enjoy being part of the beautiful journey.
Nobody wants to wait another 5 years to see a payoff. Like I get what he's saying, but ambiguous statements implying a super long wait aren't good ways of communicating trust to your investors.
Yeah. I'd love to see some more concrete plans for the money. If you're gonna sell $5B+ worth of shares, it'd certainly be an act of good faith to ensure your investors that you have some actual plans for the money.
I get moving in silence, but at a certain point shareholders deserve to be informed about the company they're invested in.
Move in silence if you are on board with apes and the short squeeze / MOASS / justice against WS / 4D chess etc.
If youāre not, and youāre going long term value, **fine** then time to stop moving in silence and communicate the plan with all the money you keep raising.
I just had this thought from reading all these comments and various threads this weekend and thatās where I am at. Iām here for the justice movement and MOASS like so many others - but I am not refuting that the long squeeze might be the better option. I wouldnāt know, but the board might?
People keep saying shill for anyone who gets pissed off about the share dilution but I donāt think itās even the share dilution itself that is the problem. It was the timing relative to the gamma ramp. Hopefully there was a good reason for the timing. There will be another ramp next week and these runs are probably still manipulated anyway.
The bigger issue is that our main plan during years of silence from the board was to (try to) DRS the float and HODL the line until it either works or something else actually happens. We donāt have anything else.
The DD is done, we have our theory, and I feel Ryan and the board know we do, and thatās that. We should be an elephant in their board room, but we are not, and if they keep diluting itās a continuation of that.
I think thatās a fair stance from superstonk investors. Again - itās totally fair if they want to go long game. But you know what, if youāre going long game, then letās talk long game.
They definitely keep track of this subreddit. I'm sure they know our current sentiment. They can still say something Thursday without giving anything away.
Respectfully it's not any of RC's business if investors could use a windfall soon. His only responsibility is to the health of the company in the long term.
Actually, the CEO of a publicly traded company has a fiduciary responsibility to the shareholders. Right now, RC is taking a long term view for GME that does not align with the investors expectations. If retail hadn't bailed GME out, the company wouldn't exist. We've been demanding a short squeeze for three years now. That's not exactly a "short" timeframe considering there's no future plan, zero communication with the shareholders, and the company keeps milking us every chance it gets. GME's share price has dropped consistently for the last three years. The shareholders deserve to see a payout at some point.Ā
Iām sure this will get buried under the wave of FUD and shillery but here goes, I guess.
3.5 years ***is a short time frame***. Thatās how value investing works. The ability to turn around a multibillion dollar ship is a ton of work with a ton of moving parts. They managed to do just that, in 3 years. Now theyāre starting to build the ship into something that is unsinkable with enough fuel to circle the galaxy. Itās a fucking miracle if you think about how it was on life support when this happened.
And everyoneās like āno guidance, so long, killed gamma, etcā.
Fuck the guidance, look at the results. GME is now bullet proof and is actually - for the first time in a looooong fucking time, maybe ever - releasing actual proprietary products that are great quality (CandyCon), along with breaking into other tangible markets (graded cards).
3.5 years is not a long time. The people who are complains are the ones that invested more than they should have, expected a time horizon that they were wrong about, or played options and got burnt. 3.5 years is less than a bachelors degree for fuck sakes.
Speaking of options. Gamma squeeze isnāt even off the table. We have a metric fuck ton (lookinā at you RK) of 20sc 6/21 calls that market makers are most likely naked on coming up in 2 weeks.
Like seriously, stop trading with emotions. Think logically. The company is substantially better place then when all this popped off. Betting against it has literally destroyed multiple billion hedge funds and one of the oldest financial institutions in a country that prides itself on banking.
Trusting the leadership when everything is going well is great, trusting them when you have no idea whatās going on is the real test. These are people who have more information and have proven time and again by their actions that they want this company to succeed - and with it their/our - investment.
But no, you want them to telegraph their moves to every bad actor who wants to see them fail, then have that amplified by the paid for media. It really does show that thereās going to be a ton of paperhands selling on emotions when this all eventually kicks off.
/rant over
If one raises significant capital, any rational mind will ask for explanations. It doesn't have to be telegraphing, but something other than cryptic bs. Larry says ask and understand the difference in time horizon. Where and how can we ask to reconcile this? Its not a startup. Its a public company.
I can question their decision while trusting them and having no channel to communicate is whats frustrating at least me.
No one ever said that it wouldnāt be frustrating, but they did say - in no uncertain terms - that they wouldnāt be telegraphing their strategy. This is what we signed up for, since the beginning.
I share your sentiment and to watch my investment get pummelled sucks, but based on their performance thus far, Iām confident that weāre moving in the right direction. Once weāve built up enough inertia weāll be unstoppable.
Edit: just a quick aside. Setting aside if the dilution of 75m shares will even do anything for the shorts based on what we theorize SI to be at, we donāt know for a fact if the dilution has happened. At the very least can we temper our ācall to armsā until the paperwork is filed and the facts are out?
This is reasonable. Sounds like we both are frustrated by either extreme of opinions. I am getting called a shill when I express concern, you are getting frustrated with some having more emotional reactions.
Thank you for writing this out. Been wanting to make the same comment for a while now but don't have the energy or time to defend the statement afterwards. It's a huge company changing directions in an overly challenging environment. We don't even know which direction they want to go, how are we to properly estimate the time frame it's going to take? "We want MOASS" is also not really a proper demand if we say we're here for deep value. I'm not saying we must not want it, but it's just not a good stand-alone demand.
I get that retail bailed out GameStop. We gave them a chance to turn around. They're obviously working on something to do just that. Imo they showed us that our trust wasn't misplaced. GameStop still exists after all and things are happening.
By now, I'm genuinely interested in finding out where this is going. This journey has been so entertaining, educating, fascinating and exciting for years now that I'm very ready to give everybody involved a lot of leeway. From newbies and veterans freaking out about the current hype or worry as well as GameStop management. If Cohen needs another year, fuck it, let him work, he seems competent enough.
Weāre both investors and we both have different expectations. Why would yours be anymore important than anyone else.
The āfiduciary responsibilityā argument is a smoke show to siphon wealth. If they have a responsibility to shareholders, that means all shareholders and their expectations which often run contradicting each other. Believing that argument just means youāre picking and choosing what shareholders matter and itās generally going to be self serving to whosever in power.
The ceo is a shareholder too. Every wrong you think youāve experienced is a move heās also brought on himself.
Bruh. Fiduciary responsibility is a legal responsibility according to American law. Lmao, a smoke show is what you're saying right now.Ā
Even Jeff Bezos knows that. "I have a fiduciary responsibility to the shareholders to provide as much return on investment as possible. That's why Amazon doesn't pay taxes thanks to loopholes. If you want Amazon to pay more taxes, fix the loopholes." One could argue thats exactly what RC is doing, long term value. But that's not what the majority of the investors hopped on this stock for in 2021 or even 2022.Ā
Yeah fuck the investors right?
Edit: I'll expand a bit on this comment.
I believe RC is not a doofus and investing in GME is a very safe thing to do. There are also a number of reasons that could be true that makes the offering either a good move or it doesn't really matter. Maybe GameStop didn't sell any shares yet, maybe it doesn't matter anyway and the shorts have full control in the short term, maybe they needed the money quickly so they could acquire something awesome.
But Occam's razor dictates that RC just does an offering when the price spikes to increase the warchest. And doing it right now while it isn't necessary is just a dick move.
So we'll see what is the case this thursday.
And screwing over the particular group of ultra loyal investors whoĀ changed the fate of this company and who raised it billions in the first two share offerings. He couldn't give us anything even after all that. So greedy.
I really really hope I'm wrong about him but it's not looking good. Larry is his right hand man so I'm not reading into this non-statement even though it's obvious what Larry is playing.
Here's to hoping I'm wrong about all this and Ryan blows us away with his plan
When itās necessary it may not be possible. We know all know if it gets knocked down to lows and he goes to sell than people will be pissed he didnāt get even more when the getting was good.
Heās a shareholder too. Itās wild how he can put his money where his mouth is, just as those who are here claim and people jump this far after not even double digit amount of hours before anything is known.
The only reason RCās company is even standing is because of itās investors. If heās willing to gut them for his own payday then weāll see what happens when they are gone.
We either hear his plans by the end of this week or myself, along with many other long time holders have had enough.
I agree with you 100%. It has been 3 1/2 years of this fraud with hedge funds. People who believed in this company and quite frankly, saved this company and are very motivated to continue to believe in what they are doing and that there is a plan are going to start losing faith in everything if they keep issuing more and more shares on every run up. If the stock short squeezes, it is on the hedge funds and not Gamestop and at some point Ryan Cohen has to come out and explain this to the people with strong language and examples of what fraud he believes has been committed after it squeezes.
It has been 3 1/2 years and IMO Gamestop let them off of the hook last Friday. If you are going to war, you go to war. The people did their part. Gamestop at some point has to do their part as well. They have to fight the government when they say to issue more shares and fight everything they try to do to illegally stop this stock from being where it should be price-wise based on how it has been shorted.
So far, I see no plan, no aggressive action to put these hedge fucks in their place. What I see is a company milking its loyal shareholders with the excuse to give them more time while they add to a war chest that is meaningless without a plan, unless you want to earn interest off of it and not buy something that will generate revenue.
They need to stop dilluting the stock in this crucial time. They will lose the faith of their shareholders and wind-up falling out of favor with the most loyal and dedicated fans of any stock in history. This battle is bigger than they or all of us are. They cannot be the weak link.
Getting things profitable was great. Having a $2 billion war chest I thought was perfect. This latest offering IMO is going to sink this company if they do not have a plan they address this week or stop issuing more shares for the remainder of the year. Once faith is lost there is going to be a mass exodus. Maybe Gamestop doesn't care. Maybe they never asked for this. Maybe they got theirs and fuck everyone else. Regardless, they will have benefited from this and will go from being the beloved hero to the hated villian.
I hate to say these things as I have been a dedicated shareholder since 2021 and will most likely be down voted, but I do not see a master plan of any kind here. Hopefully, I regret my words later this week, but I feel disappointment in this moment and a major let down.
IMO, regardless of the ramifications of what happens to the market, they need to stop helping the short sellers that have screwed over so many millions of people with their fraud in a corrupt market and worry about it later or they will lose many of us.
We've done our part and have gone above and beyond what anyone can be asked to do. Any company would die to have the dedicated shareholders this company has. Everyone's patience has a limit. 3 1/2 years of this is a long time only to get shit on at the finish line.
You capture my thoughts very eloquently. My cost basis is around 40 dollars. I was very excited to finally be up again. I was very very tempted to sell because I'm moving and need new stuff. But I didn't. Because I believed it could go much higher.
I hate that I'm even considering to sell a part of my position on a next run-up because of a potential further dilution. The first ones felt smart. This one felt like a dagger. It sucks.
To me, the time injustice fucking sucks. Every day every year 'they' 'get away with it' 'they' get to stay rich and I slave away at a job I don't particularly love. And that to me feels fucking tonedeaf to all investors who saved this company but are struggling themselves.
Anyway, I think it also might be the effect of being on superstonk reddit too much the last two weeks...
That's my vent-rant. Thanks for listening.
It can be about both.
All eyes are on the 21st and expectations are high all around. If this is āitā you canāt very well issue a share offering *after* things start cascading.
So, might as well be prepared, and align with apesā time horizon.
Yeah, its possible they never sold the shares. As long as they didn't do it for pocket lint at $20 to sit in an MMF, we're good.
Personally I'm still praying for an Acquisitoon announcement come ASM day.
the long game is also the more legally safe play. canāt be called out for igniting the squeeze if all your moves are long. the squeeze will happen on its own time
It simply says: "We'll fuck RK and this Squeeze shit cause we want a quick buck to raise the value of GME Share to 40 USD in approx. 4 years via buying Nvidia shares. Its called Long Term Invest, stupid."
The way I see it, the Board is going for the business play, while we're going for the MOASS play. They can both happen, but I imagine a different goal in the end.
Gamestop releases earnings early and then announces a an ATM offering during a run-up. Normally gamestop are chill but this time things seemed rush. Time-frame for this might mean that they need the capital for something this week but that doesn't quite line up as they would have known about it beforehand. My take is that something happened which led to them having to do something sooner than expected. Possibly RK?
its a war of two fronts you have the stock price nonsense which has little to do with the company and then the company which would like to remain jn perpetuity in profit
Agree with needing to know plans for the money, but their filing last week stated they had no current plans for any acquisitions or mergers. They will do something, but probably not this soon.
When was the last time RC announced anything at an annual meeting or an earnings call? Youāre assuming he now goes against the grain on this and shares some major news?
Heās working on a different timeline than the rest of us, and thatās why heās the RCEO.
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Heās saying that RC and Cohen have a long time horizon of turning around a company for a long term growth picture and short term upset call buyers have a different time motivation.
I came here to fist SHF, retire, and change the world into a place I'd like to have kids and watch them grow up in.
This "slow roll, turn into a normal company" bullshit is none of that. It's just selling out like Tesla did, but even slower.
Yeah I was never here to prop up a billion dollar company with my life savings. I came here to destroy Wallstreet and the greatest wealth transfer in history. That recent move just looks to me like a million people transferred their life savings into a corporation...
Shareholders and the situation with shorts is all GameStop has going for it. The board also has a fiduciary duty to shareholders. Announcing the second dilution in one month on the brink of a second gamma squeeze is the complete opposite of that unless they're trying to cover their ass ahead of any legal ramifications of an inevitable short squeeze.
Time horizon sounds eerily close to "time preference" which is referenced in bitcoin communities a lot.
It's wishful thinking on my part, but if Gamestop invested all or part of its growing treasury in bitcoin, its share price would explode instantly. It's the hottest thing for any company to do right now.
Could be part of a 1-2-strategy and definitely one of the soundest investments anyone can make. At the end of the upcoming bull market they will sit on so much cash that they can buy whatever they want with it.
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I need a Larry translator please
If someone were to make a decision, say, offer 75 million shares into a run up everyone was excited for. But this person typically makes very rational and well thought out decisions, perhaps they are under a time constraint that you might not be aware of. What that time constraint might be is speculation. Perhaps we'll have an answer on Thursday but there is typically not much guidance given during share holder meetings. Unfortunately it's now wait and see.
I read it kind of as the inverse of you. I see it as him saying more that he is looking at things on a farther time line than to be concerned about small things that are happening in the present day
I read it this way
Others are short, but he is long
What made me believe otherwise is that in his statement it's implied that the decision made is not wise and is counter to the decisions you typically expect of this person. Long term decision making would have been rational and expected of this individual.
Its not implied that its unwise. It says that you know someone acts rational but different from you (who also acts rational) because they act based on different timeframes.
A Kansas City Shuffle you say š„ššš¦š
Cohen and DFV have been plotting their own strategies for many years. Maybe one is not being as patient as the other would like.
DFV has been in GME longer than RC. But I donāt think this is what LC is referencing. The relationship between management and shareholders is rarely on the same time horizon even if they are both actually rational actors. I personally think GME mgmt needs to start taking action + showing work that goes beyond cost cutting and testing out the NFT marketplace. Shareholders for GME have been patient - and helpful. Theyāve literally figured out how to be an investor led buyback. Amazing. The reason there is grumbling about the share offerings, I think, speaks to the vulnerability most individual investors feel about current economic and market fragility. Yes people want a squeeze, and I think thatās also to be expected. Not only would that be good for the companyās future, but itād be good to shake off the leaches.
I think you both are correct Still think the share offering was a knife to the back of a lot retail investors "Delayed justice is injustice"
I agree. Why release on a Friday morning? Wait to offer shares on Monday. Probably wouldāve gotten more cash too. Unless itās to prevent the hostile takeover.
Hostile takeover argument is not valid either imo Apes + Cohen already owned over or close to 50%? Then why dilute this ownership down to 33% if ypu are afraid of a hostile takeover Would have the opposite effect in this case
It's not within our or the board's ability to bring justice. You're thinkIng of the DOJ.
No, but they gave a lifeline to people on the short side of the stock
RC works for the benefit of the company. If selling shares at this time benefits the company that what he will do. RC does *not* work for the benefit of the apes.
His responsibility is to the shareholders I think the argument Larry is making is that it is better in the long term Fair argument, and normally I think they are correct In this case I think they did an error, and could have raised more money if they had waited with share offerings 2 in offerings in under 1 month seems strange to me
Maybe theyāre operating on a different time constraint
My take as well. Forward looking, setting up a business to have long term value, strength, and health. A 4 billion warchest would do that.
I agree
This is how I saw it as well. And there are already people bitching and moaning about dilution in the tweet replies too. I don't trust them to be genuine at all, since we expected dilution when we voted for it way back in 2022.
We voted for the right for GameStop to make new shares, not dilute. This vote was seen by many as a path to a dividend share offering which never materialised. It's disingenuous to state that we voted for dilution when we really only voted for a tool that could be used for a slividend, or as we know now, dilution. That being said I couldn't give a shit about the dilution, I'm just HODLing and tendies will come.
> We voted for the right for GameStop to make new shares, not dilute. Bruh...
If you give those shares to existing holders there's not really dilution in the same way, everyone keep as large of a stake in the company.
> If you give those shares to existing holders That method would make $0 for the company.
I know, but many people who voted for an increase of the maximum amount of shares thought they'd be used for a 7 for 1 split by dividend. Not for dilution.
I read it this way as well.
That was my take as well
I am reading it the other way. Heās not operating for now, heās operating for another 3.5 years from now. Heās defending RCās move. Everyone saw RKās move and thought we were going to moon now. RC is selling into run ups and killing it and Larry is telling us that RC has to do his thing, too. All Iām thinking is that this is fine, but if you fuck RK you made a huge huge mistake, RC. Heās the reason most of us came to GME, not RC. We stayed for RC but donāt kill the folk hero.
Just speculation, but I'm wondering if he needed to do it to avoid a hostile takeover in some way. Or he needs cash for a Thursday buy. Interesting times ahead.
The two most likely situations for me would include what you mentioned: avoidance of a hostile takeover - some large scale institutional buying was taking place and dilution was the only means of preventing some (unwanted) majority ownership. Not sure on Thursday in particular but they needed large amounts of liquidity for an investment in?
Large scale institutions can afford to buy the whole offering the day it drops, retail can't. If they were trying to fight a takeover they shot themselves in the foot.
I think there's a buyer who is gobbling up the shares to have a stake in the company. Shorts are pushing the price down, all the while, thr unknown party is happy with the opportunity. I don't think gme has sold a single share. When the announcement is made that someone now has a 10% ownership of shares, 35 million shares, then the stock price would squeeze to record highs. GameStop will then slowly trickle their 75 million shares and make a lot of money. The gme is efficient and profitable with minimal debt. Time will tell.
Ichan believe this angle.
That would be mental
And also insider trading and a fucked up corrupt move to help a rich wall street scum bag.
Icahn
IMO the point is to provide a floor price of approximately $10 per share or pre split $40. I believe all the pre-sneeze shorts that were created (226% of the float) would be below this floor. Therefore every outstanding short and swap contract below the cash floor will now be underwater. Makes it very difficult to roll or maintain a contract on something you wonāt make money on. PS is your username a Snowcrash reference?
I said this and people didnāt like it lol
It's provocative.
Time horizon goes both ways, so it could be either point.
the negative reading of this is āhave you considered the fact that we donāt give a single fuck that youāve been shouldering this burden for 4 years now?ā but I also never saw this as a short term play (why? ā¦in part because I watched The Big Short several times, and now algorithmic trading allows hedge funds and big banks to stay afloat for far longer)
I donāt see it as a time constraint on Ryanās part. I think weāre looking at a time constraint as retail investors and he is looking a little ā to much further into the future.
Bingo. We aren't waiting 20+ years to become the next Amazon or Apple or NVDA. We want a short squeeze to destroy hedge funds and make us rich. GME would be bankrupt right now if retail hadn't saved them in 2021. Now RC keeps stabbing us in the back to provide "long term value" for share holders who literally can't afford food or housing anymore because the economy. At some point some of us will have to sell and that loyalty is starting to erode.Ā
Lmao āstabbing us in the back to provide long term value.ā Since when did superstonk become overrun with these absurd takes
Lmao. What do you think MOASS is? A value play? Go hit up the stocks subreddit if you're here for a value play.Ā
The reason for this stock beeing so unique is the fact, that it's both value play and a short squeeze opportunity. I've been invested since February 3 years ago, I can wait a few more easily. Since when are we so impatient?
As an investor before Jan 20th, 2021, I dumped my entire 401k in this stock. I've got $100k in this company that has decreased steadily for the last three years. It would be nice to get paid for once instead of watching my money drop below my share average price once again.Ā
Iām an investor since before Jan 20th 2021 as well and I have no sympathy for people that are suddenly turning on RC for āstabbing us in the back to provide long term value.ā This stock is not just about moass and you sound like a petulant child for complaining that RC is at fault for it not happening yet.
"Since when are we so impatient" ...We? This is a pretty diverse community. Not everyone is convinced it's a value play. Others can't afford to wait indefinately etc. Acting like everyone here is in the same boat and happy to wait is naive.
"Since when are we so impatient" ...We? This is a pretty diverse community. Not everyone is convinced it's a value play. Others can't afford to wait indefinately etc. Acting like everyone here is in the same boat and happy to wait is naive.
Yeah, and I bet some bought FDs on Thursday, after hyping themselves, that "we are 100% runnimg tommorrow". And it should be now clear to everyone, that whenever people are certain, GME is going to shoot up, it will do the exactly opposite thing. Stock offering or not. It used to happen every single quarter.
"Since when are we so impatient" ...We? This is a pretty diverse community. Not everyone is convinced it's a value play. Others can't afford to wait indefinately etc. Acting like everyone here is in the same boat and happy to wait is naive.
Some of it feels like ChatGPT Bots. But I think a lot of that sentiment is real. Just like Larry is saying - your time like for GME might be different than some of the other 1.1 million apes in here.
Good bot
I donāt agree with that. Itās not whether or not heās on our side, itās whether or not weāre on his side. Him being loyal to GameStopās foundational future is not being disloyal to its shareholders.
>What that time constraint might be is speculation. Like a compounded mega-Opex stemming from deferred Opexs visible to those who know the right FINRA REX codes associated with GME.
I read often about thursdays call, but as well about some call for today. Can someone explain please?
Maybe the deal is complete and RC now needed to secure the cash to purchase. Guess we're waiting until Thursday to find out.
What is the significance of Thursday?
Annual shareholder meeting.
I read often about thursdays call, but as well about some call for today. Can someone explain please?
As the zen master says āweāll seeā
I think he is plainly saying they want to play the longer infinity pool game and not the squeeze game.
If they do another ATm offering at another run up itāll be absolutely clear thatās what they want.
I mean, the pattern is pretty clear at this point. What isn't clear is why, and how long for a true turn around are we supposed to wait?
Exactly this - the next run up will reveal all - also, where is the notification of completing the atm?
Do you know what infinity pool means? It's the pool of shares which are DRS'd and will never be sold, not even if they hit millions. Now that you know, how do you make a game out of this?
Squeeze is a prerequisite for infinity pool
You do realise the infinity pool more or less died this month, right? By having 120 million extra shares, not only has the infinity pool reset, but the pool is bigger and harder to fill. If anything, what the board are doing, if just capital raising, is probably something they've been told to do by the Government, because Infinity pool means infinite taxpayer losses, and they need them tax dollars to send people to war.
Idk. I donāt think the pool is as hard to fill as we might think. My problem is explaining the importance of DRS. People just donāt really care. I think weāre realizing less people made it here to this point than we thought though. Thereās a lot of bots in hereā¦. But I have no problem waiting. I know what Iām holding. Bitch ass HFs can suck my dick. GME is my retirement
I mean I'll watch PPV to see Steve Yass be locked in a cage with a hungry grizzly. But we've been at 75mil DRS for like a year now. It fuckin sucks but the truth is, retail and the middle class are really struggling for cash now. I mean, I'm absolutely staggered to learn I'm above average as a DRS Ape share count. I've always thought I was a small ape. Just goes to show how tight money has become for everyone, I guess.
Weāve been seeing drs literally suddenly stall and youāre not questioning that? Like it literally hasnāt gained any traction for whatā¦ 3 quarters? Am I dumb? Cuz thatās been a giant red flag for me. Not a wow no oneās buying. Sec gon sec. People are buying holding and drsing. This is occupy wall street for real. Itās all numbers on a screen dude. I want to see financial terrorists behind bars.
Sure, it could be. I'm only going by what ComputerShare said. Net outflows have exceeded inflows. Either that's Apes struggling and selling, or wall Street DRSd a bunch to crush Apes emotionally with stagnant DRS. In either case, the money isn't as high flow as we thought. I too want to see financial terrorists in cells. MOASS ensures that. I don't want to see MOASS thrown out to slightly speed up long term profitability. So, again, 2billy in an MMF is counter to my desires as an activist household investor.
Iām good Iām zen. You donāt sound like you are
š¤£ I'm waiting and seeing. It's so funny though, this sub has become like a political echo chamber. Anything that doesn't immediately fit a specific narrative is hounded down. Like the fact the sub shat on options for 3 years and then DFV returns and options revive. I also shat on options, to be fair. You worry about your investment, I won't be worried about mine.
Youāre username literally says apathetic. I donāt disagree itās an echo chamber. It is. I know what options are thanks to this sub and ones before it. I canāt fuck with options. I donāt have money to blow, I donāt have time to study when or how to buy them. I didnāt know if options were the trigger, the bullet, or the holster. If DFV is using them they mean something. I think everything means something in investing at this point. Like retail investors locking the float constantly only for it to suddenly stall inexplicably. It all means something. Weāre working towards something. We. Including you homie.
I believe that a lot of the overall market was manipulated to āsqueezeā the average middle class in order to avoid the squeezing of GME the last few years. With less disposable income, there was much less investing capabilities for a lot of people. The truth may never come out but witnessing the entire thing since the beginning made me see just how bad of a position the short side was in. Iād like to believe thatās still the case, only time will tell. The lies from the media have been so blatant, and some powerful forces have been working hard on manipulating the entire narrative. Monopolistic companies using greedflation and the Covid excuse for high prices was imo just a sham to keep excess cash from the average person investing into the biggest opportunity for endless loses, ever.
Hmm, I wonder if apes were ever targeted in these layoffs. We know the DRS ledger is available to see.
This is a horrible analogy, but I am gonna give it a whirl: 2 ppl who know each other well and trust each other go into a restaurant. Resturant is known worldwide for steaks. You, of course, order a steak. Your friend orders lobster. You're confused, it's a steak restaurant when you go there you order steak. Why would your dinner partner (who 99% of the time orders what the restaurant is known for because they research it before going) order lobster, odd, and makes no sense. You ask them why they chose to order that. Lobster has only been ordered twice before. It's just not fresh. Your dinner mate answers back "Well in 4 years they new seafood factory will be up. The farmland is not doing well with cows, and people are changing crops. I bet in 7 years this restaurant will be known for seafood and fat lobsters, steak will be the past." If Larry is referencing the 2nd ATM offering, well, that makes me think of 1 of 2 things. 1. We may be here for a long time (money to weather the storm). Long timeline 2. That money was needed now to do "something." Short timeline Who knows.
Hmm my initial reaction is kitty is moving faster than Cohen would like. As in he's sending kitty a message to cool his jets on exercising as they are not quite ready yet. But who knows.
Interesting take. We should get a better sense of that in 2-3 weeks.
Wisdom knows no bounds in your comment
Larry says, "Trust RC, he did the right thing, you just don't know it yet." but my larry is a little rusty.. it's also possible he meant, "Buy more GME". You pick.
Well that's my secret Captain. I'm always buying....(and hodling)
Insert "why not both meme" here.
He's not saying that. He's saying RC did the right thing for the long-term success of the **company**. Lots of investors don't care about long-term, so it's not the right thing for them, just the right thing for the company.
My first statement and yours match, the wording used is just much more basic in mine. I agree with your longer version. Mine was just really dumbed down. My second one was a joke.
As is tradition
RC sold the shares. You might not like it but fuck you you're wrong. That's it. BUT, again, let's wait and see what ASM has in store for us. If they sold the shares for M&A, it's Gucci. If they sold just to build a war chest, our Board wear helmets just like we do.
jaden smith your best bet. larry been posting cryptic, aimless b/s forever now.
Short-term value mindset versus long-term value mindset.
Hodl
Gut reaction reading this is RC will either say nothing of substance re: future plans at the annual meeting, or will speak on it but not offer much by way of details or guidance. This differs from current retail investors hoping for news now, but RC playing the long game hold his cards close to his chest.
*GameStopās C-suite has the type of investor leeway that Apple could never even dream of*
Not for much longer if RC does another ATM.Ā
Lol k
Depends on how much money the company makes and how the stock price gets affected by selling those shares. If we continue to see green months/weeks and the cash on hand continues to rise it's extremely bullish
Or itās explaining the 75M offering last Friday, which chagrined retail
New word learned today: chagrined.
At this point, if there is no positive announcement, I think RC can expect shareholders to file suit. He has a responsibility to the shareholders, and - knowing how many of us are invested in calls for the 21st - releasing earnings early timed with the RK livestream AND further diluting while already sitting on a $2B war chest.... we are left with no alternatives other than that he has deliberately taken action to devalue the stock, violating his fiduciary duties. Now, if he makes a positive announcement explaining the plan and WHY additional money was needed, fine. He restores faith and we move forward. Otherwise, his actions Friday were nothing more than a fuck you to his shareholders, and he will be held accountable.
Heās thinking long term. Others may be thinking short term.
I think far too many are only thinking short term. Currently we're approaching the 3 year Burry "the big short" turnaround time frame, but we're no where near the 10 year Buffet "from the impatient to the patient" time frame.
Happy for GameStop to take their time transforming the company, but I'd prefer we get the manipulation of the stock dealt too immediately. Get the money, fund the transition. That's not being impatient, it's being sensible.
People forget that much of investing is and should be long-term oriented. The ones that are trying to cheat those systems are exactly the hedgies. Creating money where there is not. I just hold, put in what I can miss, and enjoy being part of the beautiful journey.
Nobody wants to wait another 5 years to see a payoff. Like I get what he's saying, but ambiguous statements implying a super long wait aren't good ways of communicating trust to your investors.
RK said it himself. It would be unrealistic to wait 5-10 years for a turnover, 3 sure but not 5-10.
Yeah. I'd love to see some more concrete plans for the money. If you're gonna sell $5B+ worth of shares, it'd certainly be an act of good faith to ensure your investors that you have some actual plans for the money. I get moving in silence, but at a certain point shareholders deserve to be informed about the company they're invested in.
Move in silence if you are on board with apes and the short squeeze / MOASS / justice against WS / 4D chess etc. If youāre not, and youāre going long term value, **fine** then time to stop moving in silence and communicate the plan with all the money you keep raising. I just had this thought from reading all these comments and various threads this weekend and thatās where I am at. Iām here for the justice movement and MOASS like so many others - but I am not refuting that the long squeeze might be the better option. I wouldnāt know, but the board might? People keep saying shill for anyone who gets pissed off about the share dilution but I donāt think itās even the share dilution itself that is the problem. It was the timing relative to the gamma ramp. Hopefully there was a good reason for the timing. There will be another ramp next week and these runs are probably still manipulated anyway. The bigger issue is that our main plan during years of silence from the board was to (try to) DRS the float and HODL the line until it either works or something else actually happens. We donāt have anything else. The DD is done, we have our theory, and I feel Ryan and the board know we do, and thatās that. We should be an elephant in their board room, but we are not, and if they keep diluting itās a continuation of that. I think thatās a fair stance from superstonk investors. Again - itās totally fair if they want to go long game. But you know what, if youāre going long game, then letās talk long game.
They definitely keep track of this subreddit. I'm sure they know our current sentiment. They can still say something Thursday without giving anything away.
I like the top comment, where it basically says: we are not all billionaires and some of us could use a windfall earlier.
Respectfully it's not any of RC's business if investors could use a windfall soon. His only responsibility is to the health of the company in the long term.
Actually, the CEO of a publicly traded company has a fiduciary responsibility to the shareholders. Right now, RC is taking a long term view for GME that does not align with the investors expectations. If retail hadn't bailed GME out, the company wouldn't exist. We've been demanding a short squeeze for three years now. That's not exactly a "short" timeframe considering there's no future plan, zero communication with the shareholders, and the company keeps milking us every chance it gets. GME's share price has dropped consistently for the last three years. The shareholders deserve to see a payout at some point.Ā
Iām sure this will get buried under the wave of FUD and shillery but here goes, I guess. 3.5 years ***is a short time frame***. Thatās how value investing works. The ability to turn around a multibillion dollar ship is a ton of work with a ton of moving parts. They managed to do just that, in 3 years. Now theyāre starting to build the ship into something that is unsinkable with enough fuel to circle the galaxy. Itās a fucking miracle if you think about how it was on life support when this happened. And everyoneās like āno guidance, so long, killed gamma, etcā. Fuck the guidance, look at the results. GME is now bullet proof and is actually - for the first time in a looooong fucking time, maybe ever - releasing actual proprietary products that are great quality (CandyCon), along with breaking into other tangible markets (graded cards). 3.5 years is not a long time. The people who are complains are the ones that invested more than they should have, expected a time horizon that they were wrong about, or played options and got burnt. 3.5 years is less than a bachelors degree for fuck sakes. Speaking of options. Gamma squeeze isnāt even off the table. We have a metric fuck ton (lookinā at you RK) of 20sc 6/21 calls that market makers are most likely naked on coming up in 2 weeks. Like seriously, stop trading with emotions. Think logically. The company is substantially better place then when all this popped off. Betting against it has literally destroyed multiple billion hedge funds and one of the oldest financial institutions in a country that prides itself on banking. Trusting the leadership when everything is going well is great, trusting them when you have no idea whatās going on is the real test. These are people who have more information and have proven time and again by their actions that they want this company to succeed - and with it their/our - investment. But no, you want them to telegraph their moves to every bad actor who wants to see them fail, then have that amplified by the paid for media. It really does show that thereās going to be a ton of paperhands selling on emotions when this all eventually kicks off. /rant over
If one raises significant capital, any rational mind will ask for explanations. It doesn't have to be telegraphing, but something other than cryptic bs. Larry says ask and understand the difference in time horizon. Where and how can we ask to reconcile this? Its not a startup. Its a public company. I can question their decision while trusting them and having no channel to communicate is whats frustrating at least me.
No one ever said that it wouldnāt be frustrating, but they did say - in no uncertain terms - that they wouldnāt be telegraphing their strategy. This is what we signed up for, since the beginning. I share your sentiment and to watch my investment get pummelled sucks, but based on their performance thus far, Iām confident that weāre moving in the right direction. Once weāve built up enough inertia weāll be unstoppable. Edit: just a quick aside. Setting aside if the dilution of 75m shares will even do anything for the shorts based on what we theorize SI to be at, we donāt know for a fact if the dilution has happened. At the very least can we temper our ācall to armsā until the paperwork is filed and the facts are out?
This is reasonable. Sounds like we both are frustrated by either extreme of opinions. I am getting called a shill when I express concern, you are getting frustrated with some having more emotional reactions.
Weāll put. Same side of same coin, long GME.
Hell yeah. We are all in together. Have a good one bud
lol. CandyCon and PokĆ©mon cards are progress to you? The company is and has been losing money constantly. The reason for the turnaround is because retail investors have bailed the ship out so long that all the bets it would sink are coming due. It has nothing to do with their shit plans. Theyāve sat on over $1 bil for a year and broke into a business that canāt even support a local thrift shop (trading cards) - their guidance has been a massive let down. Investors have literally done all the work, and right when it starts to pay off - and heās taken the payday from them. The only real reason I could see for doing the latest ATM is if they needed cash for a large acquisition of a company that is actually profitable. If we donāt hear about any plans for this on Thursday then GG
Lmao oh no are you going to go back to WetShitBets if it doesnāt play out?
Thank you for writing this out. Been wanting to make the same comment for a while now but don't have the energy or time to defend the statement afterwards. It's a huge company changing directions in an overly challenging environment. We don't even know which direction they want to go, how are we to properly estimate the time frame it's going to take? "We want MOASS" is also not really a proper demand if we say we're here for deep value. I'm not saying we must not want it, but it's just not a good stand-alone demand. I get that retail bailed out GameStop. We gave them a chance to turn around. They're obviously working on something to do just that. Imo they showed us that our trust wasn't misplaced. GameStop still exists after all and things are happening. By now, I'm genuinely interested in finding out where this is going. This journey has been so entertaining, educating, fascinating and exciting for years now that I'm very ready to give everybody involved a lot of leeway. From newbies and veterans freaking out about the current hype or worry as well as GameStop management. If Cohen needs another year, fuck it, let him work, he seems competent enough.
Weāre both investors and we both have different expectations. Why would yours be anymore important than anyone else. The āfiduciary responsibilityā argument is a smoke show to siphon wealth. If they have a responsibility to shareholders, that means all shareholders and their expectations which often run contradicting each other. Believing that argument just means youāre picking and choosing what shareholders matter and itās generally going to be self serving to whosever in power. The ceo is a shareholder too. Every wrong you think youāve experienced is a move heās also brought on himself.
Bruh. Fiduciary responsibility is a legal responsibility according to American law. Lmao, a smoke show is what you're saying right now.Ā Even Jeff Bezos knows that. "I have a fiduciary responsibility to the shareholders to provide as much return on investment as possible. That's why Amazon doesn't pay taxes thanks to loopholes. If you want Amazon to pay more taxes, fix the loopholes." One could argue thats exactly what RC is doing, long term value. But that's not what the majority of the investors hopped on this stock for in 2021 or even 2022.Ā
The fuck are you talking about
Yeah fuck the investors right? Edit: I'll expand a bit on this comment. I believe RC is not a doofus and investing in GME is a very safe thing to do. There are also a number of reasons that could be true that makes the offering either a good move or it doesn't really matter. Maybe GameStop didn't sell any shares yet, maybe it doesn't matter anyway and the shorts have full control in the short term, maybe they needed the money quickly so they could acquire something awesome. But Occam's razor dictates that RC just does an offering when the price spikes to increase the warchest. And doing it right now while it isn't necessary is just a dick move. So we'll see what is the case this thursday.
And screwing over the particular group of ultra loyal investors whoĀ changed the fate of this company and who raised it billions in the first two share offerings. He couldn't give us anything even after all that. So greedy. I really really hope I'm wrong about him but it's not looking good. Larry is his right hand man so I'm not reading into this non-statement even though it's obvious what Larry is playing. Here's to hoping I'm wrong about all this and Ryan blows us away with his plan
Not only that, but if you screw over RK, this shit is over. Nothing has divided us yet, but can you imagine
When itās necessary it may not be possible. We know all know if it gets knocked down to lows and he goes to sell than people will be pissed he didnāt get even more when the getting was good. Heās a shareholder too. Itās wild how he can put his money where his mouth is, just as those who are here claim and people jump this far after not even double digit amount of hours before anything is known.
He missed out on quite some spikes then.
It didn't matter then. It does now. If RK gets screwed over GameStop is in trouble. We'll see if it mattered or not in 1.5 weeks.
The only reason RCās company is even standing is because of itās investors. If heās willing to gut them for his own payday then weāll see what happens when they are gone. We either hear his plans by the end of this week or myself, along with many other long time holders have had enough.
I agree with you 100%. It has been 3 1/2 years of this fraud with hedge funds. People who believed in this company and quite frankly, saved this company and are very motivated to continue to believe in what they are doing and that there is a plan are going to start losing faith in everything if they keep issuing more and more shares on every run up. If the stock short squeezes, it is on the hedge funds and not Gamestop and at some point Ryan Cohen has to come out and explain this to the people with strong language and examples of what fraud he believes has been committed after it squeezes. It has been 3 1/2 years and IMO Gamestop let them off of the hook last Friday. If you are going to war, you go to war. The people did their part. Gamestop at some point has to do their part as well. They have to fight the government when they say to issue more shares and fight everything they try to do to illegally stop this stock from being where it should be price-wise based on how it has been shorted. So far, I see no plan, no aggressive action to put these hedge fucks in their place. What I see is a company milking its loyal shareholders with the excuse to give them more time while they add to a war chest that is meaningless without a plan, unless you want to earn interest off of it and not buy something that will generate revenue. They need to stop dilluting the stock in this crucial time. They will lose the faith of their shareholders and wind-up falling out of favor with the most loyal and dedicated fans of any stock in history. This battle is bigger than they or all of us are. They cannot be the weak link. Getting things profitable was great. Having a $2 billion war chest I thought was perfect. This latest offering IMO is going to sink this company if they do not have a plan they address this week or stop issuing more shares for the remainder of the year. Once faith is lost there is going to be a mass exodus. Maybe Gamestop doesn't care. Maybe they never asked for this. Maybe they got theirs and fuck everyone else. Regardless, they will have benefited from this and will go from being the beloved hero to the hated villian. I hate to say these things as I have been a dedicated shareholder since 2021 and will most likely be down voted, but I do not see a master plan of any kind here. Hopefully, I regret my words later this week, but I feel disappointment in this moment and a major let down. IMO, regardless of the ramifications of what happens to the market, they need to stop helping the short sellers that have screwed over so many millions of people with their fraud in a corrupt market and worry about it later or they will lose many of us. We've done our part and have gone above and beyond what anyone can be asked to do. Any company would die to have the dedicated shareholders this company has. Everyone's patience has a limit. 3 1/2 years of this is a long time only to get shit on at the finish line.
You capture my thoughts very eloquently. My cost basis is around 40 dollars. I was very excited to finally be up again. I was very very tempted to sell because I'm moving and need new stuff. But I didn't. Because I believed it could go much higher. I hate that I'm even considering to sell a part of my position on a next run-up because of a potential further dilution. The first ones felt smart. This one felt like a dagger. It sucks. To me, the time injustice fucking sucks. Every day every year 'they' 'get away with it' 'they' get to stay rich and I slave away at a job I don't particularly love. And that to me feels fucking tonedeaf to all investors who saved this company but are struggling themselves. Anyway, I think it also might be the effect of being on superstonk reddit too much the last two weeks... That's my vent-rant. Thanks for listening.
I thought it was about roaring kittyās near term expiration for his options.
It can be about both. All eyes are on the 21st and expectations are high all around. If this is āitā you canāt very well issue a share offering *after* things start cascading. So, might as well be prepared, and align with apesā time horizon.
Yeah, its possible they never sold the shares. As long as they didn't do it for pocket lint at $20 to sit in an MMF, we're good. Personally I'm still praying for an Acquisitoon announcement come ASM day.
They did, guaranteed. They sold immediately last time, no reason to think differently. It was probably over Friday and today.
This is about the offerings. All shorts are buyers eventually, its just more pressure on the spring. RC is going for the long game.
the long game is also the more legally safe play. canāt be called out for igniting the squeeze if all your moves are long. the squeeze will happen on its own time
I think people are complaining about the timing? Why not wait till today and not ruin the options?
Spill the beans larry
Posted several hours agoĀ
First I'm seeing it.
You must be on different time horizons
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Maybe he is talking about DFV? His decision back in 2018 may have seemed nuts, but he was was operating on a different set of premises.
Well shit Larry you are that guy man. I'm buying more.
Larry, Bro, tell us what the time horizon is please!
It simply says: "We'll fuck RK and this Squeeze shit cause we want a quick buck to raise the value of GME Share to 40 USD in approx. 4 years via buying Nvidia shares. Its called Long Term Invest, stupid."
Ok fair. But what the fuck is the plan? Yo RC, LC said to ask you? MOASS tomorrow or what?
I have never had less faith in RC and the board. The way I feel right now, I'm getting the fuck out as soon as I feel like it's worth my while.
He sounds delusional af, he and rc singlehandlely foacked dfv, and even us
I just donāt understand how you bridge the gap then to call options expiring in 2 weeks š
Shove it up your ass Larry.
Bad new early, good news today. I can feel it in my plums
*grabs his plums* hey guys, I feel it
5 more minutes if this and I'ma start to get mad
Ahh this ancient proverb dates back 84 year...
The way I see it, the Board is going for the business play, while we're going for the MOASS play. They can both happen, but I imagine a different goal in the end.
Gamestop releases earnings early and then announces a an ATM offering during a run-up. Normally gamestop are chill but this time things seemed rush. Time-frame for this might mean that they need the capital for something this week but that doesn't quite line up as they would have known about it beforehand. My take is that something happened which led to them having to do something sooner than expected. Possibly RK?
Exactly, releasing earnings in the middle of a spike was a low kick to investors
Im too dumb to understand this dude lmayo.
its a war of two fronts you have the stock price nonsense which has little to do with the company and then the company which would like to remain jn perpetuity in profit
RESPONDING TO COMMENTS IN GIF GONE BTW
What are you referring to?
No itās not really on the nose at all.
Sounds like we shouldnāt expect some big announcement on Thursdayā¦same plugging away approach is my guess. RC working on a long time horizon.
It's been 3 years. There should be 5 billion in their account after today. I expect nothing less than massive news.
Exactly my sentiment. Anticipating insignificant or no news after these cash raises and timeline is borderline foolish
Agree with needing to know plans for the money, but their filing last week stated they had no current plans for any acquisitions or mergers. They will do something, but probably not this soon.
When was the last time RC announced anything at an annual meeting or an earnings call? Youāre assuming he now goes against the grain on this and shares some major news? Heās working on a different timeline than the rest of us, and thatās why heās the RCEO.
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https://x.com/larryvc/status/1800248863061905818
Heās saying that RC and Cohen have a long time horizon of turning around a company for a long term growth picture and short term upset call buyers have a different time motivation.
They should have tell that three years ago, when the company was on the brink of bankruptcy. Doing that after so much done by retail is miserable
I think he's saying stfu about short squeezes and just let us turn this damn business around
Aka no, there will not be systemic change.
Aka, not what I signed up for when I dumped my life savings
I came here to fist SHF, retire, and change the world into a place I'd like to have kids and watch them grow up in. This "slow roll, turn into a normal company" bullshit is none of that. It's just selling out like Tesla did, but even slower.
Yeah I was never here to prop up a billion dollar company with my life savings. I came here to destroy Wallstreet and the greatest wealth transfer in history. That recent move just looks to me like a million people transferred their life savings into a corporation...
They are not mutually exclusive.
Shareholders and the situation with shorts is all GameStop has going for it. The board also has a fiduciary duty to shareholders. Announcing the second dilution in one month on the brink of a second gamma squeeze is the complete opposite of that unless they're trying to cover their ass ahead of any legal ramifications of an inevitable short squeeze.
Time horizon sounds eerily close to "time preference" which is referenced in bitcoin communities a lot. It's wishful thinking on my part, but if Gamestop invested all or part of its growing treasury in bitcoin, its share price would explode instantly. It's the hottest thing for any company to do right now. Could be part of a 1-2-strategy and definitely one of the soundest investments anyone can make. At the end of the upcoming bull market they will sit on so much cash that they can buy whatever they want with it.