Hey it’s completely normal for members of the media to completely fabricate articles.
Nothing to see here!
Nothing to see here!
Gamestop
- Thread starter Bonerfarts
- Start date
He’s cashed in a little before. I believe he’s sold some calls for $2 million and letting the rest roll. He’s set no matter happen from here.Another reason why "Roaring Kitty" has earned the respect of his peers is that unlike so many traders who make a buck on a trade and move on, Gill has demonstrated true diamond hands, and not only that but he is now literally doubling down on the company that brought him stardom and riches by exercising his call options and buying even more shares.
"Deep****ingValue" posted a screenshot of his portfolio showing that he has exercised 500 GameStop call options expiring Friday at a strike price of $12, giving him 50,000 more shares of a stock that closed at $154.69 on Friday, but will likely blast off on Monday once the Reddit animal spirits are reignited.
There's more: in addition to exercising his options, Gill also bought another 50,000 shares of the video-game retailer, doubling his holdings to 200,000 shares from 100,000 at the beginning of the month. His total investment in GameStop is now worth more than $30 million, giving him a profit of nearly $20 million. Bloomberg reached out to Gill’s mother, Elaine Gill at his childhood home in Massachusetts, who confirmed the Reddit screenshots were posted by her son.
Despite having earned the praise and admiration of most of his peers for executing what many have said has been the most astute short squeeze since Volkswagen, there were haters too and roughly around the time Gill was explaining to Maxine Waters how investing works, he was hit with a lawsuit that accused him of misrepresenting himself as an amateur investor. The suit alleged that he was actually a licensed securities professional who manipulated the market for profit, which he denied.
To be sure, it wasn't just Gill: some argue that the true mastermind behind the Gamestop squeeze was not Roaring Kitty at all but hedge fund Senvest which started buying GME shares all the way back in September - roughly around the time the post "The REAL Greatest Short Burn of the Century" appeared on Reddit and which made over $700 million on its GME position which has given it the top position in the HSBC hedge fund ranking for the third month in a row
Meanwhile, on Friday GameStop CEO George Sherman who is expected to leave, sold almost $12 million in shares. The company is looking for a new CEO as part of a shake-up spurred by activist investor and Chewy.com co-founder Ryan Cohen, Bloomberg notes.
While shares of GameStop are up 721% YTD, though they are less than half of the peak level in January. However, now that Roaring Kitty has shown his Reddit peers that he is not only in it for the long run but doubling down, expect another squeeze on Monday as the latest generation of shorts which have entered the stock in recent weeks, is steamrolled, and as Reddit excitement in GME which had fizzled in recent weeks...
... explodes afresh.
And speaking of Chewy, we remind readers that the reason why the stock rose as high as the mid-$400s in February is not only the presence of Chewy founder Ryan Cohen, but that as the September Reddit write up noted, "if GME was trading at the same P/S multiple as $CHWY, the share price would be $420."
In short, GME may be about to double all over again.
Which begs another question: is the daytrading, gamma-squeeze mania that shook markets in late January, about to send GME - and the whole batch of most shorted names - soaring higher all over again?
Fabricated. Calls legitimacy of the entire article and the author into question.
The yahoo article made a correction from Sells to “disposes of”
“(Corrects details of transaction starting in first paragraph.)”
Why is that? Sounds like they got called out for publishing a completely fabricated news article.
The shares weren’t sold, they were turned back over to Gamestop due to shit performance and the value of the positions was ~$12M.
Again these articles are fiction.
Again these articles are fiction.
Thanks for the clarification. What does the company do with the stock?
It was restricted stock that was based on performance, basically they don’t issue the shares/turn them over to him and they are never bought or sold.
The intent of the articles are to deceive people who don’t know the difference. Either that or the article authors both have no clue about which they are reporting. Which should be a fireable offense in itself.
Incompetence or willful intent to deceive readers.
If his 12 million RSUs were already in some analysts official share count, it could also mean the float is now 12 million shares lower which also means short interest is higher... but I’m not sure about how strict the rules are or even interpretations allowed over counting the outstanding shares.
To be clear, it is not 12 million shares, it is $12M value of shares. It is in the filing I linked from Domo Capital. 33,012 shares + 43,085 shares. Totaling ~$12,000,000 value at the time of reporting. They were not sold on the open market. They were basically withdrawn as compensation from Sherman. He performed poorly, ergo no soup for you.
What IS notable however is that Keith Gill not only exercised all of his $12 Call options, turning them into shares, he bought 50,000 more shares on the open market this past week around $155/share.
I mean the guy must really like the stock.
I mean the guy must really like the stock.
Ah was good on Friday. Hoping this is the week it ticks back up.
the Reddit drama over GME is enough to turn me off from trying to read to much over there anymore though. WSB people hate the GME people, the GME sub split into two, and some of those people are cultish.
I like the idea of the stock still- I think the company is setup with good people for a turnaround. I think the valuation comparison to Chewy is valid, once they transition.
I think there’s some short exposure still, but I don’t believe the squeeze is going to happen just because the game is rigged.
the Reddit drama over GME is enough to turn me off from trying to read to much over there anymore though. WSB people hate the GME people, the GME sub split into two, and some of those people are cultish.
I like the idea of the stock still- I think the company is setup with good people for a turnaround. I think the valuation comparison to Chewy is valid, once they transition.
I think there’s some short exposure still, but I don’t believe the squeeze is going to happen just because the game is rigged.
This is pretty much where I’m at, along with the firm belief that Citadel and those like them are financial terrorists and collude together in a criminal syndicate manner. I do not believe they should be allowed to operate in the manner they have been for the last decade and many of their officers should being doing long stretches in prison and their ill gotten profits should be clawed back and returned to shareholders all
over the globe. In a just world it would be so.
You mean the price isn't going to 10 million a share and all of retail aren't going to be able to name their price and sell at the peak?
All the echo chamber, confirmation bias, everything is tied to GME sentiment is a bit much, although I do enjoy reading some of the tinfoil hat stuff over there.
Ha, yeah. One thread in particular had me rolling my eyes. It was like “things to do after you become a millionaire”, followed by legitimate suggestions like getting a lawyer and not disclosing your positions and sales and stuff.
😂
Just looked today and COIN is at $299.28 as of this moment.
I want in on this but not sure of the right number to buy in at. It's been at a high of $429.54 and a low of $282.07 in just this short time. $300 might not be a bad spot to buy in at.
I plan to get in but I heard someone on TV talking about it before it went live and he was saying based on all the factors he thought it should be about $240-250, so when it went crazy I stayed on the sidelines. It's coming back to reality and then will be a good place to buy and hold.
GME opened at $150 and is up to $186 after hours!
Is the MOASS finally starting???
Is the MOASS finally starting???
Probably - because I sold my WeBull position today because I finally got back to even. So figures it will take off now.
Hopefully it moons above 220 so I can get out of my other position in CashApp 😂
I saw it hit 197 at one point in after hours. Blood began rushing to my penus.
You can’t even buy Dogecoin on COIN. They are about as related as saying you don’t trust Fidelity because penny stocks are terrible when you can’t even buy them on Fidelity.
A pretty small percentage of people are buying cryptocurrency but that number is growing. A lot of transaction fees.
I wouldn’t buy the stock in the 300s. Maybe in a few weeks if the excitement wears off and the price drops to a better entry level. If it doesn’t, oh well.
So what was the deal with the sale of GME shares the other day to raise capital? What was it 3.5m shares?
It wasn't a super high volume day by GEM standards, but it moved ~30-40 points? Is that correleated to the actual sale of 'real' shares and not recycled fake shit thats been shorted and re-traded over and over to manipulate the price?
It wasn't a super high volume day by GEM standards, but it moved ~30-40 points? Is that correleated to the actual sale of 'real' shares and not recycled fake shit thats been shorted and re-traded over and over to manipulate the price?
GameStop announced that the sale had been completed at an average price of $157/share. So these were real shares issued by the company but they weren’t dumped into the market all at once, they were massaged in over a few weeks to avoid hammering the price with a flood of supply.
Speculation was that the price jumped up because that was a counterpoint used that could hold GME back if it is on its way to the moon. For example, if it was spiking to $200/share, then $300, etc, if they released 3.5M shares, that could stall out the rocket and allow some shorts to cover.
Or the other theory is that as they released these shares into the market over the last few weeks, it was suppressing the buy volume with new supply. And that jump yesterday was the result of that buying pressure not having that resistance.
Either way, to the moon it goes.
I think the price spike represents the fact that GME no longer has any long term debt after paying it back early coupled with the news they raised $550M in order to fund their transformation to an e-commerce business. Those are dramatically different positions to be in as a business.
The long term debt had several conditions attached to it that prohibited growth. That debt and those terms/conditions are gone. Gamestop’s turnaround path looks more clear now. It is very hard to make the case for bankruptcy anymore and the only question is how far and how fast is Ryan Cohen going to take this company? The guy is a winner who recruited sharks into management.
The long term debt had several conditions attached to it that prohibited growth. That debt and those terms/conditions are gone. Gamestop’s turnaround path looks more clear now. It is very hard to make the case for bankruptcy anymore and the only question is how far and how fast is Ryan Cohen going to take this company? The guy is a winner who recruited sharks into management.
These “glitches” are probably nothing...
Oh and...
https://www.reddit.com/r/Superstonk/comments/nhyzk0/been_waiting_for_this_opportunity_trade_****ery/
Oh and...
Don't look now but GME is over $207 and rising today! How many lives does it have?
It’s was a good day of holding. Sounds like GameStop is introducing a crypto (crypto dividend) and NFTs to create a digital resale market.
I assume margin is making some phone calls to some big players in the short space. Banks are nearly at the cap of the reverse repo market with the feds so liquidity is going to take a tumble.
All signs point to the moon for GME.
I assume margin is making some phone calls to some big players in the short space. Banks are nearly at the cap of the reverse repo market with the feds so liquidity is going to take a tumble.
All signs point to the moon for GME.
up $7 in AH boyz
can’t wait to get those crypto divvy tendies! and Citadel gets to figure out how to pay those dividends to the millions of rehypothecated IOU shares worldwide. LMAO they are fuked!
can’t wait to get those crypto divvy tendies! and Citadel gets to figure out how to pay those dividends to the millions of rehypothecated IOU shares worldwide. LMAO they are fuked!
haha, never my friend. I am watching GME pre right now, hoping those who held on make it big.
I've eaten my loss there, and playing around with OTC things more now. Trying to find something I'm good at, and its still not working
I've eaten my loss there, and playing around with OTC things more now. Trying to find something I'm good at, and its still not working
