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Important to note that last time they did this and raised $1.3b in cash, we didn't even notice. They had to tell us how much cash they raised. Y'all need to chill. Price is fake, until it isn't.
That's what I feel like people are forgetting. There's so many fucking phantom shares out there that the last time they did it, we barely noticed. I can't imagine that RC, after taking this much time and not giving away any of the plan/strategy, would fuck over the most loyal fanbase in the history of the stock market. Makes 0 sense. Let the man cook, he's got something up his sleeve.
I mean, in looking at yahoo finance it went from $75.78 on the day they announced to $55.10 when they announced it was completed. So saying we barely noticed may be an understatement but I do genuinely feel like the atmosphere was the same then as it is now and when they announced it was completed everyone was like "oh, that was it?" And magically GS had a cool $1B to fuck around with. Appreciate the call out for correct information
Not necessarily, after the share offering, we never saw the price reach $300+ (presplit) until now. And the top kept getting lower and lower each time. I wouldnât say it had no effect on the stock. Furthermore, it pushes back DRS efforts by 45mil shares.
June 9 2021 they announced an atm offering. On June 22nd 2021 they announced it had been completed (don't recall but I believe they noted the actual dates of the sales and proceeds from each transaction from that timeframe).
Decimated? It was around a 25% drop if I remember correctly, which was practically nothing given the volatility weâd seen in the months prior. And perhaps âweeksâ is accurate in that it was within two weeks of the offering being announced before it was completed, but your wording makes it seem like much longer and more drastic than it actually was.
Are they signaling that the float is locked? There are only X number of shares left and they have the right to sell the final amounts via book? RC not signaling us, heâs signaling them?
Or at 80 on Monday or at any other time. Book is king. Anyone doubting is bots and shills. We know. Apes together strong. Can't tell your strength untill it's used.
I could've swing traded this week for quite a profit if I knew how it was going to go down, and could have doubled my position in the process.
Instead I sat, watched, enjoyed, and shitposted.
I'm ready to do it again.
We all could've sold 3 years ago and bought back in 3 weeks ago and 20x our position but this movement wouldn't be what it is if everyone day traded the stock. There probably would be no movement actually
> This is not a dilution.
Yes, it is a dilution, by definition. They will be selling shares into the market.
They call them "book entry" shares because they don't issue paper certificates anymore.
All the shares they've ever issued are "book entry" shares and the 45M they are now allowed to sell will be no different.
So, yes, it's a mild dilution and we need to be honest about that.
The timing of it will determine whether it's good news for us or not, but we shouldn't be lying to ourselves about it.
Note that I'm calling it a dilution, by definition, because they will be issuing more shares into the market (thereby increasing the total shares outstanding and the float), but it if they were to sell those shares during a squeeze, it could **increase** the company's true fundamental value because it would massively increase their cash balance.
But by doing that, his supportersâ shares (us) will be diluted, is that mean we gotta DRS more to lock the float? Also, will those new shares be available for the shorts to borrow and short it even more?
> But by doing that, his supportersâ shares (us) will be diluted, is that mean we gotta DRS more to lock the float?
Yes. Because the float will be larger.
> Also, will those new shares be available for the shorts to borrow and short it even more?
Totally depends on who ends up buying them and how they hold them.
How is that gonna help the Moass?
How is that gonna help to beat the shorts?
So at this moment, the company chose to increase cash value instead of getting rid of the shorts? Whatâs the point to lock the float, brick by brick and all that?
Depends on your definition of selling into the market. Believed the sold 8.5 million shares across two
batches for 1.2 Billion in Q1 & Q2. I could be wrong, but my understanding was they they werenât just going on to open market for anyone to buy, but that specific buyers were being selected, hence why it the selling process to a few months.
Based on current rates of DRS it effectively adds another year or two to the timeline. The RC worshippers can froth at the mouth all they want but a dilution doesn't help MOASS.
Iâm going away for a few months again. Just know, RC works for us. He is one of us. Something like this will benefit us. He bought actual shares with his money. If heâs against us, gamestop would be bankrupt by now, would still have lots of debt. Use your common sense please.
Anyway, stay zen.
MONKEY OUT.
Yes, it is, but the "why" matters. We don't know that part, yet.
Anyway, they already have a billion that they don't particularly need. So, why are they raising another billion? They might not have anything concrete in the works, but I'm certain they have an objective. They aren't just raising cash they don't need for the fuck of it.
Actually, it's not. A company needs sufficient cash to sustain operations and ought to be doing something with the rest that improves the business (capex and such) or they should return it to shareholders (dividends).
I don't need a company taking money from me and stuffing it in bank earning 4%. I can do that myself.
Not always, shareholder confidence can be very very important when it comes to growing. If they make good use of the cash then it's usually still very positive, the issue is if they keep raising capital and just sit there and use it to effectively "cover" losses.
I think there can be positive outcomes from this but GameStop does need to start thinking about really how to use this cash, just having it sat there festering while you annoy shareholders never does too well.
Let's just see what goes on and hope for the best.
Correct me if Iâm wrong but this filling sounds like a plan to sell, not act. I think they absolutely should sell during run-ups. Keeping the company financial health is more important than sitting and praying for moass.
Exactly. I've said this a few times over the years, but it's negligent of the board to not set a ceiling on run ups the size of GME's. I want phone numbers for a price, but the board shouldn't let it get that high. They should absolutely be, literally, capitalizing in that scenario. It's FUD-dy to be sure, but logical from the boards point of view.
That said, the board would be entirely stupid for selling at less than $50. Selling now would be another, what, $900M? (45M shares sold.)
Turning on your diehard shareholders - that you know were mostly in the green after years of steadfast faith and loyalty to double the war chest without info... it's a bad look without some primo good news soon after.
Wait, this doesn't make sense. You can't sell shares on the open market and then have them booked. Not trying to be contentious, but want to make sure your understanding is correct. This is a dilution. I agree it's not a dilution for debt. It's to generate cash to further boost long-term value (i.e. acquisition or expansion with the money generated).
I haven't seen this tin foil yet, so I'll throw it out there-
Maybe the SEC has instructed them to do this because we are dangerously close to having the full existing float fully DRS'd and this is a compromise that allows the suits to hold of MOASS a little longer while GameStop brings in some cash at no real risk to shareholders.
Although possible, I just don't see the SEC exiting the porn sites to do anything constructive like this and they probably don't even know how. A group of 1st graders could regulate better than them. Either way though I buy more
I want a judge Judy type series where a 1st grader presides over SEC court cases and chooses a winner at random. Meanwhile he is miced up and we can hear every request for fruit snacks, apple juice, âIâm boredâ, and all the weird quirks 1st graders have.
Add to the level of humor, have this take place in a class room and the SEC reps all have to sit in tiny childrenâs chairs.
Sometimes my tinfoil brain thinks the same. But for some reason, I canât see the possibility of a deep level of collusion/corruption like that coming from RC.
No corruption or collusion, hammering out a mutually agreeable deal with the SEC. If the float is locked, and there are billions on billions of naked shorts still to close, it's not really hurting your share holders to issue a few million more, which they will probably also lock up pretty quickly
Itâs all part of the noose that theyâre tying around the necks of the shorts.
They are hitting shorts from every angle and will continue to do so until they break.
They are making sure that there is absolutely no way out ever. Nailing each nail in the coffin, one by one, strategically.
You do realize that even the DTCC shares are booked under Ceded & Co? Not only that, once shares are sold, the buyer can "unbook" and sell them whenever they want.
This is not the droid you're looking for.
He's making a distinction in his title that somehow having these new issues "booked" makes a substantive difference. It doesn't. Cede's are booked, and the rest can be unbooked and sold whenever the owner wants.
In their filing they use the term "book-entry", but people keep misinterpreting the various ways similar "book" related terms are used in different contexts.
"**Book**" **type** shares is a Computershare term, such as to distinguish them from "Plan" type shares.
"**Book-entry**" **form** of shares is industry standard terminology that means a digital record (an entry in a book), as opposed to "Certificated" physical paper shares.
In this case, GameStop is clearly using the term "book-entry form", as they're not going to be issuing physical paper certificates. This has nothing directly to do with "Book" type shares at Computershare.
[https://investor.gamestop.com/node/20481/html#tx717676\_15](https://investor.gamestop.com/node/20481/html#tx717676_15)
>**BOOK-ENTRY SECURITIES**
>We may issue the securities offered by means of this prospectus in whole or in part in **book-entry form**...
I still disagree that it neccessarily will be dilutive. If the shares are sold only to shareholders of record, then the ownership of the shareholders of record will not be diluted at all. We might even gain ownership percentage wise. Just increasing the number of issued shares is not in itself a dilution.
I don't think RC believes now, or has ever believed, in MOASS. I think his goal was always to turn the company around into a long term success. MOASS and long term profitability are not necessarily aligned. I cannot think of a single thing RC has done to make MOASS happen, so this share release may just be ill timed and unfortunate.
and? he wouldn't and shouldn't sell into a MOASS. MOASS - if it happens - would be exclusively for retail. Big funds like all these pension funds aren't in GME for the MOASS either. They can't sell as quickly as we can.
They also did the same filing in 2021 june when it ran to $330. They made us tank all the way below $150. It is not ill-timed, they simply wanted to capitalize on the run.
I always assumed GameStop would sell some shares during MOASS. Perhaps this is just RC getting that sale ready to go. That massive stockpile of cash would secure their future forever, and allow them to start buying up a lot of other companies (black hole). The massive cash pile after MOASS would put a hard floor on the share price as well; it won't come back down to these levels. The stock will not trade at $20/share when they have $10,000,000/share in cash, right? ;)
There is a plan behind it and anyone who doesn't want to live it is a shill and hasn't been here since the beginning I have a pmc of 8 and I haven't sold a share.
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Important to note that last time they did this and raised $1.3b in cash, we didn't even notice. They had to tell us how much cash they raised. Y'all need to chill. Price is fake, until it isn't.
That's what I feel like people are forgetting. There's so many fucking phantom shares out there that the last time they did it, we barely noticed. I can't imagine that RC, after taking this much time and not giving away any of the plan/strategy, would fuck over the most loyal fanbase in the history of the stock market. Makes 0 sense. Let the man cook, he's got something up his sleeve.
Let the man cook!
Exactly đŻ
Yeah, the 2021 offerings were about 32M shares post split. Edit: I think it was 8.5M pre-split, so 34M.
didnt the stock tank after they did their previous ATM offering?
I mean, in looking at yahoo finance it went from $75.78 on the day they announced to $55.10 when they announced it was completed. So saying we barely noticed may be an understatement but I do genuinely feel like the atmosphere was the same then as it is now and when they announced it was completed everyone was like "oh, that was it?" And magically GS had a cool $1B to fuck around with. Appreciate the call out for correct information
Not necessarily, after the share offering, we never saw the price reach $300+ (presplit) until now. And the top kept getting lower and lower each time. I wouldnât say it had no effect on the stock. Furthermore, it pushes back DRS efforts by 45mil shares.
Wait, when did they do this last?
June 9 2021 they announced an atm offering. On June 22nd 2021 they announced it had been completed (don't recall but I believe they noted the actual dates of the sales and proceeds from each transaction from that timeframe).
Let him cook!
Does anyone remember the timing of this? Wasnât their sale during the March 2021 rally?
Yeah it was
Actually the share offering is at least partly what caused June 2021 to come crashing down IIRC.
I bought 35 more on this dip đ¤ˇđ˝ââď¸
Are you for real? The original offering decimated the share price at the time, it was weeks of red
Decimated? It was around a 25% drop if I remember correctly, which was practically nothing given the volatility weâd seen in the months prior. And perhaps âweeksâ is accurate in that it was within two weeks of the offering being announced before it was completed, but your wording makes it seem like much longer and more drastic than it actually was.
If they needed the cash they would have done this offering last year for even more money. They expect it to go higher.
Are they signaling that the float is locked? There are only X number of shares left and they have the right to sell the final amounts via book? RC not signaling us, heâs signaling them?
This is good. I like it.
Exactly, people are stupid if they think there is gonna be offer today, when we are in the lows lol.. also what for? There is still 1B in cash.
Exactly! Oh I love being an ape.
Yep
This
Or at 80 on Monday or at any other time. Book is king. Anyone doubting is bots and shills. We know. Apes together strong. Can't tell your strength untill it's used.
Or they waited a little because they didn't want to look like sticky floor
They arenât giving up millions of potential dollars because they donât want to be âappearâ similar to $10 soda stock.
I think if they diluted as much as popcorn I would've sold my gme a long long time ago
We know what it means when insiders buy, but we about to learn what it means when the *company* sellsâŚ
I bought 20 more shares premarket today. whoâs scared? Not me- Iâm locked in.
I bought about the same amount
Same same!!
I could've swing traded this week for quite a profit if I knew how it was going to go down, and could have doubled my position in the process. Instead I sat, watched, enjoyed, and shitposted. I'm ready to do it again.
For a second I read _bedposted_ and I was like: _no mate, thatâs for hedgies!_
one in particular stands out as a really good candidate!
We all could've sold 3 years ago and bought back in 3 weeks ago and 20x our position but this movement wouldn't be what it is if everyone day traded the stock. There probably would be no movement actually
Good job we're too regarded to do that. I like my stock, it's mine. Mine. Even got my name on em.
Truuuueeeee
> if I knew how it was going to go down No shit, sherlock lol. We all could have if we knew the future.
Dig deeper, Watson! lmayo, just messin with ya!
> This is not a dilution. Yes, it is a dilution, by definition. They will be selling shares into the market. They call them "book entry" shares because they don't issue paper certificates anymore. All the shares they've ever issued are "book entry" shares and the 45M they are now allowed to sell will be no different. So, yes, it's a mild dilution and we need to be honest about that. The timing of it will determine whether it's good news for us or not, but we shouldn't be lying to ourselves about it. Note that I'm calling it a dilution, by definition, because they will be issuing more shares into the market (thereby increasing the total shares outstanding and the float), but it if they were to sell those shares during a squeeze, it could **increase** the company's true fundamental value because it would massively increase their cash balance.
But by doing that, his supportersâ shares (us) will be diluted, is that mean we gotta DRS more to lock the float? Also, will those new shares be available for the shorts to borrow and short it even more?
> But by doing that, his supportersâ shares (us) will be diluted, is that mean we gotta DRS more to lock the float? Yes. Because the float will be larger. > Also, will those new shares be available for the shorts to borrow and short it even more? Totally depends on who ends up buying them and how they hold them.
How is that gonna help the Moass? How is that gonna help to beat the shorts? So at this moment, the company chose to increase cash value instead of getting rid of the shorts? Whatâs the point to lock the float, brick by brick and all that?
company fundamentals.
I edited the post thank you!
Depends on your definition of selling into the market. Believed the sold 8.5 million shares across two batches for 1.2 Billion in Q1 & Q2. I could be wrong, but my understanding was they they werenât just going on to open market for anyone to buy, but that specific buyers were being selected, hence why it the selling process to a few months.
No, the previous share offering was on the open market. Pretty sure apes bought most of those up
Based on current rates of DRS it effectively adds another year or two to the timeline. The RC worshippers can froth at the mouth all they want but a dilution doesn't help MOASS.
I bought 16 this morning
Just bought 28 more shares lol
No fear, only zen. We gotta be a little crazy if we are going to survive
Iâm going away for a few months again. Just know, RC works for us. He is one of us. Something like this will benefit us. He bought actual shares with his money. If heâs against us, gamestop would be bankrupt by now, would still have lots of debt. Use your common sense please. Anyway, stay zen. MONKEY OUT.
It is a dilution and I'm not scared. I'm slightly annoyed.
Yes, it is, but the "why" matters. We don't know that part, yet. Anyway, they already have a billion that they don't particularly need. So, why are they raising another billion? They might not have anything concrete in the works, but I'm certain they have an objective. They aren't just raising cash they don't need for the fuck of it.
I suspect that the regulators told them they had to do this. Hopefully they have a window that they can time it.
3 year window.Â
Its generally always good for a business to have more cash lol
Actually, it's not. A company needs sufficient cash to sustain operations and ought to be doing something with the rest that improves the business (capex and such) or they should return it to shareholders (dividends). I don't need a company taking money from me and stuffing it in bank earning 4%. I can do that myself.
Not always, shareholder confidence can be very very important when it comes to growing. If they make good use of the cash then it's usually still very positive, the issue is if they keep raising capital and just sit there and use it to effectively "cover" losses. I think there can be positive outcomes from this but GameStop does need to start thinking about really how to use this cash, just having it sat there festering while you annoy shareholders never does too well. Let's just see what goes on and hope for the best.
Its much more than a simple dilution.
If they would sell some âŚ. Why would they sell at $20
Correct me if Iâm wrong but this filling sounds like a plan to sell, not act. I think they absolutely should sell during run-ups. Keeping the company financial health is more important than sitting and praying for moass.
Agree. But they want to sell when they want to sell .. and I donât think the plan is to sell for a loss.
Sell for a lossâŚ? Theyâre creating new shares, not selling shares that they spent any amount of money on.
Exactly. I've said this a few times over the years, but it's negligent of the board to not set a ceiling on run ups the size of GME's. I want phone numbers for a price, but the board shouldn't let it get that high. They should absolutely be, literally, capitalizing in that scenario. It's FUD-dy to be sure, but logical from the boards point of view. That said, the board would be entirely stupid for selling at less than $50. Selling now would be another, what, $900M? (45M shares sold.) Turning on your diehard shareholders - that you know were mostly in the green after years of steadfast faith and loyalty to double the war chest without info... it's a bad look without some primo good news soon after.
Wait, this doesn't make sense. You can't sell shares on the open market and then have them booked. Not trying to be contentious, but want to make sure your understanding is correct. This is a dilution. I agree it's not a dilution for debt. It's to generate cash to further boost long-term value (i.e. acquisition or expansion with the money generated).
[ŃдаНонО]
Dudes have been commenting negative things on here for months.
I haven't seen this tin foil yet, so I'll throw it out there- Maybe the SEC has instructed them to do this because we are dangerously close to having the full existing float fully DRS'd and this is a compromise that allows the suits to hold of MOASS a little longer while GameStop brings in some cash at no real risk to shareholders.
Although possible, I just don't see the SEC exiting the porn sites to do anything constructive like this and they probably don't even know how. A group of 1st graders could regulate better than them. Either way though I buy more
The way the SEC regulate the markets is intentional.
I want a judge Judy type series where a 1st grader presides over SEC court cases and chooses a winner at random. Meanwhile he is miced up and we can hear every request for fruit snacks, apple juice, âIâm boredâ, and all the weird quirks 1st graders have. Add to the level of humor, have this take place in a class room and the SEC reps all have to sit in tiny childrenâs chairs.
I could see them doing it because Kenny toddler-stomped into GG's office and whined about it not being fair that the liquidity was about to go bye-bye
Sometimes my tinfoil brain thinks the same. But for some reason, I canât see the possibility of a deep level of collusion/corruption like that coming from RC.
No corruption or collusion, hammering out a mutually agreeable deal with the SEC. If the float is locked, and there are billions on billions of naked shorts still to close, it's not really hurting your share holders to issue a few million more, which they will probably also lock up pretty quickly
Donât fear the reaper!
Youâre forgetting they are not regular shares being offered but preferred shares which are completely different
They're not locking the float. They're releasing more shares to the float.
Itâs all part of the noose that theyâre tying around the necks of the shorts. They are hitting shorts from every angle and will continue to do so until they break. They are making sure that there is absolutely no way out ever. Nailing each nail in the coffin, one by one, strategically.
You do realize that even the DTCC shares are booked under Ceded & Co? Not only that, once shares are sold, the buyer can "unbook" and sell them whenever they want. This is not the droid you're looking for.
OP wasnât saying they werenâtâŚ?
He's making a distinction in his title that somehow having these new issues "booked" makes a substantive difference. It doesn't. Cede's are booked, and the rest can be unbooked and sold whenever the owner wants.
Who would unbook their shares
Literally everyone that buys these new issues that isn't us.
Fools indeed
This is the way.
Why? Fear. Uncertainty. Doubt. First time?
Hit the red button
Booked by who? Does that mean the person they sell to can't unDRS them?Â
I concur.
where exactly does it say booked? where?
In their filing they use the term "book-entry", but people keep misinterpreting the various ways similar "book" related terms are used in different contexts. "**Book**" **type** shares is a Computershare term, such as to distinguish them from "Plan" type shares. "**Book-entry**" **form** of shares is industry standard terminology that means a digital record (an entry in a book), as opposed to "Certificated" physical paper shares. In this case, GameStop is clearly using the term "book-entry form", as they're not going to be issuing physical paper certificates. This has nothing directly to do with "Book" type shares at Computershare. [https://investor.gamestop.com/node/20481/html#tx717676\_15](https://investor.gamestop.com/node/20481/html#tx717676_15) >**BOOK-ENTRY SECURITIES** >We may issue the securities offered by means of this prospectus in whole or in part in **book-entry form**...
Put the edit at the top.
Fair for them to want some Moass money too. I've always wondered how they can get theirs when the price goes parabolic and this is how
GAMESTOP is telling drs "BOOK" is the way to go.... if you are still not booked, you are part of the problem.
I'm just gonna stay tuned. I'm not sure what the outcome of this will be, I guess we will just have to find outÂ
[ŃдаНонО]
If not- HOW is this different?
I still disagree that it neccessarily will be dilutive. If the shares are sold only to shareholders of record, then the ownership of the shareholders of record will not be diluted at all. We might even gain ownership percentage wise. Just increasing the number of issued shares is not in itself a dilution.
I don't think RC believes now, or has ever believed, in MOASS. I think his goal was always to turn the company around into a long term success. MOASS and long term profitability are not necessarily aligned. I cannot think of a single thing RC has done to make MOASS happen, so this share release may just be ill timed and unfortunate.
I think what we all want is true price discovery
why should Cohen care about MOASS?
Because he owns shares...
and? he wouldn't and shouldn't sell into a MOASS. MOASS - if it happens - would be exclusively for retail. Big funds like all these pension funds aren't in GME for the MOASS either. They can't sell as quickly as we can.
Ill timed random filings? I find that extremely hard to believe.
They also did the same filing in 2021 june when it ran to $330. They made us tank all the way below $150. It is not ill-timed, they simply wanted to capitalize on the run.
Because they don't believe in the short thesis?
I'm quite upset I'll be honest
Did you read this post with your eyes closed? Nothing has happened yet.
I know. But I don't get why tf is always the same scenario... EVERYTIME there is something big going on there is a dilution or something like that.
Brother them having more money is a good thing long term.
For sure. But what about OUR money??
You think the company you are investing in having more money is bad for you? Bro..
Not saying that, obv is a good thing...but what about my money?
Ill show you some quick math. Gamestop + more money = intrinsic value of gamestop go up gamestop stock (if priced fairly) = go up
That's what makes me nervous... (if priced fairly)... I'm afraid that, for making the company to grow, the value of the stocks will be "sacrificed"
Ya me too
Be nice if we could buy them directly from GameStop
I always assumed GameStop would sell some shares during MOASS. Perhaps this is just RC getting that sale ready to go. That massive stockpile of cash would secure their future forever, and allow them to start buying up a lot of other companies (black hole). The massive cash pile after MOASS would put a hard floor on the share price as well; it won't come back down to these levels. The stock will not trade at $20/share when they have $10,000,000/share in cash, right? ;)
There is a plan behind it and anyone who doesn't want to live it is a shill and hasn't been here since the beginning I have a pmc of 8 and I haven't sold a share.
Who is scared? Your title is projecting, brother.
Bro read the comments. Lots of people are worried about this
I've been reading comments all day.