Gamestop
- Thread starter Bonerfarts
- Start date
Bingo. And it is complete horse shit.
I was also reading about Warren buffet via Berkshire making period purchase of Chubb since November of 2023… only recently disclosed because he has some special arrangement with the SEC to keep those trades private for a period of time due the fact that many investors will follow at his first buy and pump the stock, so he wouldn’t get “fair pricing” on future buys…. What a load of horseshit!!!
And everyone wonders why people think things are rigged for the Rich. If they lose money government bailout. If they win huge tax cuts. Also any income generated from government handouts etc etc. Crazy shit man.
Full quote from Citron Research on Janurary 19, 2021. (Post since deleted)
The stock later went over $400 per share.
Makes we wonder if they are really long GME and just put out a short statement to pump it. 3d chess.
What is this?
“Last, it defines a global security as a unit trust that cannot be broken up and must be book registered, it looks like.”
Oh I like that part.
“Last, it defines a global security as a unit trust that cannot be broken up and must be book registered, it looks like.”
Oh I like that part.
One of the theories I just read is that GameStop will exchange its 315M common shares for 45M newly issuable preferred shares. It would be a 7:1 reverse split but taking a different form. The preferred shares wouldn’t be sortable and while there’d be ownership, they’d be less liquid and less subject to market maker activity.
If they were to do that or announce the action, the short sellers time is up and they would be forced to cover/close.
I bought 1000 shares at .19 this morning, now it's down to .10. Damn you FOMO! 🤣
I think the SEC made a prudent decision earlier this year in response to the "meme stocks" whose prices seem to sway wildly not based on the market, but based on market manipulation via social media. This manipulation, and these artificial, wild swings in prices are not good for the public.
Make no mistake, the people "short" on GameStop are making that decision rationally - the price of the stock is not supported by its fundamentals. It's the people who are "long" that are hoping to make a big profit off of a stock that is trading at a price not related to its value. They are hoping a bunch of lemmings will help them drive the price up, then jump off before it comes back down. The circuit breakers are in the public's interest.
Great chart on FFIE today. Was up 150% when I looked earlier this morning.
You can say this about the people shorting and driving a stock price down. Can say the same shorting stocks you don't have. The Hedge funds do all sorts of crap to manipulate the system and it's allowed.
You'd have to give a specific example. But in the case of meme stocks, the SEC is correct. They are trying to stop market manipulation.
The price action is not due to retail traders or social media. You’ve been conned.
They do not even route our Buys through the Lit market. They pool them end of day block purchase off a dark pool trade. So our buying activity specially does not affect the price.
they’ve been doing it for YEARS!
Ken Griffin literally said on camera THEY SET THE PRICES.
Jesus H Christ people.
I ended up making a few hundred on GME puts last week.. nothing to crazy. Actually surprised I came out ahead, pure luck.
I’ve been monitoring it today and put in stop limit buy orders around noon today Calls of 5/24 GME.. thinking if it did explode, I’d get it on the action, not thinking that it would. Yet, it did, I am up close to 100% based on the end of day rally. But now I gotta wait over night til 8:30 to see if I am gonna be fooked or gonna be able to buy a new driver.
I’ve been monitoring it today and put in stop limit buy orders around noon today Calls of 5/24 GME.. thinking if it did explode, I’d get it on the action, not thinking that it would. Yet, it did, I am up close to 100% based on the end of day rally. But now I gotta wait over night til 8:30 to see if I am gonna be fooked or gonna be able to buy a new driver.
GameStop Just Pulled The Biggest Reverse Uno Card On Market Manipulators Ever - GameStop (NYSE:GME)
It is no secret that Gamestop Corp (NYSE: GME) has been one of the most heavily manipulated stocks in history. Rehypothecated shorting of their company over 100% of the float, multiple brokers shutting off the buy button on the stock so that only sales could be placed, and also billion dollar...
www.benzinga.com
GameStop Just Pulled The Biggest Reverse Uno Card On Market Manipulators Ever
It is no secret that Gamestop Corp has been one of the most heavily manipulated stocks in history. Rehypothecated shorting of their company over 100% of the float, multiple brokers shutting off the buy button on the stock so that only sales could be placed, and also billion dollar company CEOs lying under oath to congress.
It is our personal opinion that under the guidance of Ryan Cohen, the company has figured out a way to fight the constant manipulation of their company.
From the Q4 Form 10-K “As of February 3, 2024, we have $101.3 million remaining under the repurchase authorization.” This means that at a share price of $15.00, GameStop could buy back 6.75 million shares of their stock and retire those shares to decrease the float. This is the first avenue that GameStop has.
Also in the Q4 Form 10-K “On December 5, 2023, the Board of Directors approved a new investment policy. The Board has delegated authority to manage the Company’s portfolio of securities investments to an Investment Committee consisting of the Company’s Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, and two independent members of the Board of Directors.
The Investment Committee will direct the investment activity of the Company in public and private markets. Mr. Cohen or other members of the Investment Committee, each in their personal capacity or through affiliated investment vehicles, may at times invest in the same securities in which the Company invests. The Board anticipates that such investments will align the interests of the Company with the interests of related parties because it places the personal resources of such directors at risk in substantially the same manner as resources of the Company in connection with investment decisions made by the Investment Committee on behalf of the Company.”
To summarize the above paraphrase from the Q4 Form 10-K, Gamestop has the ability to invest their BILLION dollars in cash into public and marketable securities in which Cohen or other members ALSO invest in. Cohen’s largest position personally is Gamestop shares and this filing allows Gamestop to buy its OWN shares without having to retire those shares like a stock buy-back. This is a genius way for a company to buy its own stock during heavily shorted downward prices or during the stock’s price cycles who have seen fast 100% gains and 50% drops. This also secures the members of the investor committee to also purchase more shares of GameStop.. This is avenue 2.
Lastly, from the Form 424B5 filed on May 17, 2024, “We have entered into an Open Market Sale AgreementSM, or Sales Agreement, with Jefferies LLC, or Jefferies, on May 17, 2024, relating to shares of our Class A common stock, par value $0.001 per share, or common stock. In accordance with the terms of the Sales Agreement, we may offer and sell shares of our common stock from time to time through Jefferies, acting as our sales agent and referred to as the “Sales Agent.” Under this prospectus supplement and the accompanying prospectus, and in accordance with the terms of the Sales Agreement, we may offer and sell up to 45,000,000 shares of our common stock from and after the date hereof.”
Avenue 3: GameStop set into place the ability to sell shares of their stock on their massive upward price swings to secure substantially more cash on their balance sheet and lead the company to an even more profitable company. This is where the Reverse Uno card comes in. GameStop can now hypothetically sell 45 million shares when their stock price jumps to $50 again which would secure $2.25 billion in cash that can THEN be used to either buy back $100 million in their shares or be used to purchase then $3.25 billion dollars of marketable securities. That much cash would be worth more than the entire market cap of the company at the end of April during their lows.
GameStop and its investing committee now has the ability to buy back $100 million of shares, purchase over $1 billion in shares to hold on their balance sheet and sell for a higher price on massive price swings, and also sell 45 million shares during extremely large price increases as well. They can now effectively battle the market makers in every direction of their price swings. Buckle Up.
I thought I saw something today that RFK jumped on #GME for 25k.
I bought back in @ $22. Looks like we could see some action in the after hours session this evening.
This source looks like a straight GME pump account.
Could be, or they could be a wrinkly brain trying to educate everyone.
The Congressional Report on Gamestop squeeze of Jan 2021 clearly stated the price action was NOT due to short covering. They shorted the company over 120% and never covered in 2021. In fact, buying was happening constantly throughout 2021 by retail. If the outstanding shares were 220% of the issuance in January 2021 and many tens of millions of more shares were sold throughout 2021 and 2022. How do you explain that?
There has to be a loophole to sell ~infinity shares as desired.
What is it?
Gamestop short positions blew up Archegos Capital, Bill Hwang. He lost $21B in 2 days.
Drove Melvin Capital into insolvency. Gabe Plotkin.
fortune.com
Archegos Capital’s bags (positions) got dumped onto Credit Suisse and bankrupted them.
www.investopedia.com
Now UBS, who assumed Credit Suisse’s bags is in trouble.
Why?
Drove Melvin Capital into insolvency. Gabe Plotkin.
Once high-flying hedge fund Melvin Capital to liquidate funds after huge losses
The once high-flying hedge fund told clients it would liquidate the funds and return cash to investors.
Archegos Capital’s bags (positions) got dumped onto Credit Suisse and bankrupted them.
What Happened at Credit Suisse, and Why Did It Collapse?
Credit Suisse collapsed and was purchased by UBS in March 2023. We provide an overview of some of the events leading to the collapse and possible repercussions.
Now UBS, who assumed Credit Suisse’s bags is in trouble.
Why?
Watched "Dumb Money" on Netflix last night. Not very good, and certainly horrible at explaining the GME ride.
Saw it was produced by the Winklevoss twins, so that tracks as to why it sucked.
Saw it was produced by the Winklevoss twins, so that tracks as to why it sucked.
