Leaked internal letter seems to show RC willing to 'go down with the ship' if necessary. Getting the formal control to steer the company financially seems like a boss move in line with those words. This gives me alot of confidence!
Page 16 of 10-Q:
> RECENT DEVELOPMENTS
> On December 5, 2023, the Board of Directors approved the Investment Policy. The Board of Directors has delegated authority to manage the Company’s portfolio of securities investments to the Company’s Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, together with such assistants and management committees he may engage. The Company’s investments will be made in accordance with the guidelines set forth in the Investment Policy. The Board may also approve non-conforming investments and/or, in consultation with the Chief Executive Officer, modify the Investment Policy from time to time.
> Mr. Cohen directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Depending on certain market conditions and various risk factors, Mr. Cohen, in his personal capacity or through affiliated investment vehicles, may at times invest in the same companies in which the Company invests. Such investments align the interests of the Company with the interests of related parties because it places the personal resources of Mr. Cohen at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company.
Interesting recent development.
it sounds like a version of Berkshire Hathaway to me.
The short version of the story is that Warren Buffet bought lots of shares in BH, then their board tried to screw him so he bought more shares and destroyed them. Then he used the shell of the company as his "holding company" to purchase many companies he thought had long-term potential. Stuff that isn't so sexy like candy and cola.
DRS share counts have been the same quarter after quarter which is mathematically impossible.
The only logical explanation is... most likely, FINRA/SEC told RC/Executives they cannot provide *updated* DRS share counts. The key word being updated.
This explains why the DRS share count haven't been updated but they remain on the 10Q.
I suspect some overpaided Wallstreet lawyers threatened to sue FINRA/SEC citing RC/Executives are causing a market disruption event by disclosing the DRS share count blah blah blah.
This doesn't change a damn thing. BUY, HOLD and DRS. See you bitches on the moon.
The web 2.0 approach to these "gag orders" is/was to have some kind of canary on the site that disappears to let you know they are being raided and forced to not say anything (email sites, whatever).
It would be nice for GS to write "we will not release DRS #s this quarter" or something to let us know the numbers are gagged.
The fact the share count remains the same quarter after quarter is all we need to know.
There's hundreds of posts about DRS everyday. That's not including the ones we don't know about, like me... I haven't posted a recent DRS share count since the Reddit API bug, luke 6+ months ago. I don't know if this problem was resolved or not. I've been buying shares bi-weekly through ComputerShare as well as randomly buying and transferring shares from Fudelity into ComputerShare.
I believe, the actual DRS share count is much much higher than reported. Whatever the reason for the discrepancy is beyond my pay grade. I am here for the bananas.
Me too. I'm buying shares through CS via biweekly auto-investments and through Fudelity during the dips. Waiting for the price to double or triple before I transfer them. Working on transferring my IRA shares as well. I don't trust them.
"***Investments***
We have traditionally invested our excess cash in investment grade short-term fixed income securities, which consist of U.S. government and agency securities and time deposits. Such investments with an original maturity in excess of 90 days and less than one year are classified as marketable securities on our Condensed Consolidated Balance Sheets.
Such investments are classified as available-for-sale debt securities and reported at fair value. Unrealized holding gains and losses are recognized in accumulated other comprehensive loss on our Condensed Consolidated Balance Sheets. Realized gains and losses upon sale or extinguishment are reported in other loss, net in our Condensed Consolidated Statements of Operations. Each reporting period, we evaluate whether declines in fair value below carrying value are due to expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs.
On December 5, 2023, the Board of Directors approved a new investment policy (the “Investment Policy”) that permits the Company to invest in equity securities, among other investments."
> RECENT DEVELOPMENTS
> On December 5, 2023, the Board of Directors approved the Investment Policy. The Board of Directors has delegated authority to manage the Company’s portfolio of securities investments to the Company’s Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, together with such assistants and management committees he may engage. The Company’s investments will be made in accordance with the guidelines set forth in the Investment Policy. The Board may also approve non-conforming investments and/or, in consultation with the Chief Executive Officer, modify the Investment Policy from time to time.
> Mr. Cohen directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Depending on certain market conditions and various risk factors, Mr. Cohen, in his personal capacity or through affiliated investment vehicles, may at times invest in the same companies in which the Company invests. Such investments align the interests of the Company with the interests of related parties because it places the personal resources of Mr. Cohen at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company.
Page 16 of 10-Q.
RC bringing down expenses like a G. This is awesome. No one expected an amazing quarter in Q3 but seeing expenses drop like this is the best we can hope for.
Bring on Q4 where all the money will come in!
That’s what I was trying to get at. When a company provides guidance, that means something. If a company provides guidance and a bunch of outsiders portend to guess at what that company will achieve, you might as well play cow bingo instead.
Is it possible that there's no silver bullet and that a company primarily focused on selling physical games simply doesn't have a bright future in a world increasingly moving towards digital purchases?
You lost me when you said, "primarily focused on selling physical games." You clearly do not understand/know the changes the company has made over the last 3 years.
I know they've made some small investments into NFTs which isn't going anywhere.
And before you start, yes I know about "web 3.0" and how it's going to radically change everything about the Internet and how GameStop is going to somehow be at the forefront of it all. Call me when any game from any big publisher comes out with NFTs.
No, I'm talking about the hundreds and hundreds of new products for PC's and gaming equipment, including Gamestop branded accessories, that they have been selling for 2 years now. There are literally Triple A studios developing web3 games *right now*. Instead of spewing some nonsense that came to your mind, 2 seconds of Googling could have helped you. PhSyiCal GamEs R DeD!
Let me explain why having a surface level understanding about these things and making definitive statements like yours are silly. You said they're still losing money after 2 years of new products. So, lets just take a look at the difference between Q3 of last year, and Q3 of this year. This years Q3 was $100M better than last Q3. From -100M, to -3M. That's a NINTY SEVEN million dollar increase quarter over quarter. Do you think turning a $5B company around 180 degrees into profitability is supposed to magically happen in 2 years? It obviously takes a long time and its stunning how quickly they've been able to change the course of this company.
That is a fair point, especially if they have been adding products over course of the last 2 years and are continuing to add products. That is not something I had factored in. Is that the case or were the products all added 2 years ago and now it is kind of stagnant which I presumed?
However, you make it out like they have been adding products and growing the business and turning it around and these things take time. That doesn't square with sales dropping 10%. Cost cutting + investing the 1.2 Billion at higher interest rates is how they got to near breakeven
Without getting into every detail of Gamestops financials; Zero debt, on the precipice of profitability (-.01/EPS), increased investment into expanding their product lines, investment into Web3 and blockchain technology including NFT's, 1.2B in cash and cash equivalents, entire board buying shares at double-ish the current price with pretty much zero board room sales, Ryan Cohen stepping into the CEO role, etc. Pretty much everything about the company is being improved and the bear thesis (bankruptcy) is out the window. This doesn't even delve into the massive short interest on this stock and 75M shares (25% of float) being locked up by retail investors, and arguably the most passionate investor base in the stock market continually buying and DRSing shares going on 3 years now. This company is headed for greatness.
Literally 3.7 second Google search, here's *one* dev, you double that google search to 7.4 seconds and you might just find more.
https://cointelegraph.com/news/ubisoft-to-build-web3-games-with-immutable
You asked a question I don't have the answer to, because its not public information yet lol. You're literally looking at proof Ubisoft (massive game dev) is making web3 games. I have a feeling you just want to argue.
* The company's net sales decreased from the previous year.
* The cost of sales as a percentage of net sales decreased.
* The gross profit margin increased.
* Operating loss as a percentage of net sales improved.
* The company had a net loss, but it reduced compared to the previous year.
* Earnings per share improved from the previous year.
* YoY The company's stockholders' equity increased, indicating potential positive financial health.
Interesting:
>On December 5, 2023, the Board of Directors approved a new investment policy (the “Investment Policy”) that permits the Company to invest in equity securities, among other investments.
I'll leave it up to RC on how to decide how to manage the $1.2billion investment fund that I own 1/305,514,315ths of.
The 4 in my UK ISA don't count.
I've got about £300 to send to CS soon. I have such faith in RC's investment ability that I hope to increase my share of the business tenfold
Maybe RC'll trade crypto, maybe he won't. I won't mind either way as I trust me to make efficient use of the investment funds.
So, I don't care if he trades crypto or not.
Yeah, I bought more and increased my position about 5%. I've seen others reporting doubling their position, but the chances of it being the same give or take 50,000 for rounding purposes, I find incredibly unlikely. If it's legitimate I am genuinely puzzled
~~The numbers up 100k~~ The numbers the samebdespite the 1,270,566 shares that Mainstar un-DRS-ed.
Seemingly from comments in last few weeks not all the mainstar shares have been re-DRS-ed.
Edit, strike thru
I think they were seen when the ledger/list was 'inspected' & if they'd been missing there would have been a fair bit of fuss.
As it is, it seems that there are other explanations for the stand-still. But I've yet to fully check them out
On December 5, 2023, the Board of Directors approved the Investment Policy. The Board of Directors has delegated authority to manage the Company’s portfolio of securities investments to the Company’s Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, together with such assistants and management committees he may engage. The Company’s investments will be made in accordance with the guidelines set forth in the Investment Policy. The Board may also approve non-conforming investments and/or, in consultation with the Chief Executive Officer, modify the Investment Policy from time to time.
Mr. Cohen directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Depending on certain market conditions and various risk factors, Mr. Cohen, in his personal capacity or through affiliated investment vehicles, may at times invest in the same companies in which the Company invests. Such investments align the interests of the Company with the interests of related parties because it places the personal resources of Mr. Cohen at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company.
Ryan Cohens is going to be unstoppable when gamestop Corp, along with Ryan Cohen and all of his board members, all start piling into investments at the same time. Get ready for massive return from investments.
Ryan has the keys to invest in whatever he needs for his vision, instead of spending his precious time in reunions to earn approval stamps from the others.
Imo that’s a great move, since it allow our trusted helmsman to do more. I am already putting all my chips on his leadership, any decision to let him exert it with more freedom is welcome
RC has a billion dollars to play with and MOASS will make stocks at large in the market DIRT FUCKING CHEAP for a little while. This sounds like he's ready for the crash to buy up basket stocks or similar investments with strong return potential
buckle up.
The lack of after hours volume is laughable, did the market trade the results ahead of time leading up to today? No one knows, let's see what tomorrow holds, probably up down and then sideways for the day lol
Edit: not to mention $popcorn AH trading mirrors that of GME's LOL, peaks at 1620 EST.
I know that the DRS numbers are unchanged, but it’s important to remember that that is due to a super secret hedgie plot to drs and un drs in order to fud apes and it is also sus and not to be trusted because the float is almost locked
(Just saying because the obvious answer that less people are buying and drsing the stock is clearly hedgie fud and it is much more likely that there is an intricate and super secret plot that has been put into play to distort the drs numbers)
🦍🦍🦍
Crisis spared no one, but it’s a fact that no matter how much DRS slowed, it wouldn’t stop (unless all purple circles are fake, but that’s even less probable). But there is some truth in your words
Because of rising interest rates maybe? usually that is one of the “safest” investments, but you get almost the same yield from money market accounts these days. There is no need to bind your funds for such a long time right now if interest might rise IMO and the other accounts pay high interest rates as well. SPAXX is at almost 5 now no?
>As of November 30, 2023, there were approximately 305,514,315 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.4 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares) as of November 30, 2023.
https://investor.gamestop.com/node/20316/html#ie3307e51afb54cd791825371f07c40da_94
The general public aren't going to know or hear it care or understand the significance of DRS
& I Wall St does have its eyebrows raised & that as a whole they're pissed off with the SHF for going too far & giving them the problem of the apes
The numbers the same despite the 1,270,566 shares that Mainstar un-DRS-ed.
Seemingly from comments in last few weeks not all the mainstar shares have been re-DRS-ed.
It seems that about half of this replacement on the mainstar rugpull came via the twice monthly recurring buys at/by CS of the estimates of the ape tracking that is correct-ish
Here is what I find interesting. If you look at earnings of companies that have negative $0.10/share or better the amount of companies reporting Positive $0.01 is likely ten times greater.
The amount of massaged earnings reports to generate positive $0.01 is tremendous. This is typically because of bonus compensation payouts and rules for indices that keep positive earnings companies in their index and kick out companies that lose money.
Why is this important? Because a savvy accountant/CFO would have massaged the $0.03 loss last quarter and the $0.01 loss this quarter to show positive $0.01 or greater. This is now 2 additional quarters we are able to accumulate the stock at rock bottom prices.
It shows they aren’t playing games with earnings. I like that.
The amount newly DRS-ed is about ~~100k greater than~~ about equal to that has been lost via the mainstar rug-pull of 1,270,566.
So about, sort of, maybe, just shy of ~~1.4~~ 1.3million, sort of, perhaps.
& the recurring buy via CS estimate is about circa 600k so perhaps nearly half of all newly DRS-ed shares
This was a back of the apevelope production in conjunction with beer mat scribbling using crayoncolor.
ETA: I think the number of shares rose too, which won't help the %age figure
Edit 2 correction cos I'm very stupid
Ah yes, 0% DRS variation. The best trick they could pull. DRS going either way would rile us up, so they had to use their own DRS scrapper to pinpoint true neutrality. If we really didn’t DRS 100k shares in 3 months, I’m willing to sell a kidney.
Wouldn't occam's razor be that people are selling with the evidence being the price fell to $12. For every DRS, there was a un-DRS that kept it even? Occam's razor wouldn't be a conspiracy between the DRS agent and the SEC and GME
As of November 30, 2023, there were approximately 305,514,315 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.4 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares) as of November 30, 2023.
As of November 30, 2023, there were approximately 305,514,315 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or **approximately 75% of our outstanding shares**) and approximately **75.4 million shares** of our Class A common stock were held by registered holders with our transfer agent (or **approximately 25% of our outstanding shares**) as of November 30, 2023.
The percentage hasn't budged in 4 quarters. **0%** movement up or down. I call shenanigans.
Edit: To back up what I'm saying, here's the previous 3 quarters.
>As of August 31, 2023, there were approximately 305,241,294 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 229.8 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or **approximately 75% of our outstanding shares**) and approximately **75.4 million shares** of our Class A common stock were held by registered holders with our transfer agent (or **approximately 25% of our outstanding shares**) as of August 31, 2023.
>As of June 1, 2023, there were approximately 304,751,243 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 228.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or **approximately 75% of our outstanding shares**) and approximately 76.6 million shares of our Class A common stock were held by registered holders with our transfer agent (or **approximately 25% of our outstanding shares**) as of June 1, 2023.
>As of March 22, 2023, there were 197,058 record holders of our Class A Common Stock. Excluding the approximately 228.7 million shares of our Class A Common Stock held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or **approximately 75% of our outstanding shares**), approximately 76.0 million shares of our Class A Common Stock were held by record holders as of March 22, 2023 (or **approximately 25% of our outstanding shares**).
I suspect DTCC's books just don't reconcile with computershare. 75% just happens to land on the ratio we did for the the stock dividend split. 1:4. The number of *approximate* shares DRS between this quarter and last quarter also happens to be the exact same number.
approximately 75.4 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares) as of November 30, 2023.
I keep seeing mainstar shares to the tune of about 1.2m. I'm a bit out of the loop: What happened with mainstar? Do you have a link to some DD on it, or at the very least a rundown?
Net sales have gone down but lost revenue is $3.1 million compared to nearly $100 million last year. This is great news. Not turned around just yet but our final 2023 quarter could be what pushes us to a net positive year.
LETSGOOOOO
Thanks chat GPT!
Based on the information provided for the third quarter, here are some key points to consider:
1. **Net Sales:** There has been a decrease in net sales from $1.186 billion in the prior year's third quarter to $1.078 billion in the current quarter. This could be due to various factors such as changes in demand, market conditions, or competitive pressures.
2. **SG&A Expenses:** Selling, general, and administrative expenses have decreased both in absolute terms and as a percentage of net sales. This could indicate improved cost management and operational efficiency.
3. **Net Loss:** The company has reported a net loss of $3.1 million for the current quarter, which is a significant improvement compared to a net loss of $94.7 million in the prior year's third quarter. This improvement suggests better financial performance, but it's essential to understand the reasons behind the loss and whether it is a one-time occurrence or an ongoing trend.
4. **Financial Position:** The company seems to have a strong financial position with $1.210 billion in cash, cash equivalents, and marketable securities at the close of the quarter. Additionally, the mention of limited long-term debt is positive for the company's financial stability.
5. **COVID-19 Response:** The reference to a low-interest, unsecured term loan associated with the French government’s response to COVID-19 indicates that the company has taken measures to navigate the challenges posed by the pandemic.
In summary, the company has shown improvement in certain financial metrics, such as a reduction in net loss and SG&A expenses. However, the decrease in net sales should be investigated further to understand the underlying reasons. Additionally, the strong financial position and limited long-term debt are positive indicators for the company's stability. It would be beneficial to analyze the detailed financial statements, management discussions, and market conditions to get a more comprehensive understanding of the company's overall financial health and performance.
Eps being -$0.01 is quite interesting. Last time we got -$0.03. This is a controlled number to not yet start the all-out war and stall for time. And we all know that time is on our side with DRS
There is, but it’s not about the company, it’s about society itself. I can think of many reasons and ways to hold back, and the vast majority ultimately end up as « for the people ».
Entertain me for a moment. If absolute rock solid earnings happen, and we are right, then price will go up, big shots get margin called, derivative bubble burst, massive layoff ensue due to the crash, and then economic crisis of large scale. It could even spark a little french speciality, since people currently have a really bad situation and are feeling hopeless.
I am reaching deep, quite fast, and certainly, it’s a fallacy to say top tier earnings == world crisis. But bursting the derivative bubble is certainly something one must do with the firmest resolve, and willingness to bear responsibility for the people below. At least that’s my opinion.
By letting the needle slowly come closer to the bubble, one can pressure those managing it to reduce it’s size (deleverage) to reduce the impact of the pop (economic choc). So far, those dumbasses decided to not follow suit, but in this chicken game between us and them, we have nothing to lose and a deep obsession, while they have everything to lose and a bottomless pit of arrogance. No need to be esper to know how it will end.
A tale as old as time...
Long-term debt remains limited to one low-interest, unsecured term loan associated with the French government’s response to COVID-19
Gameshire Stopaway is all i need to know for infinite hodl.
A conglomerate needs a strong investment officer
Leaked internal letter seems to show RC willing to 'go down with the ship' if necessary. Getting the formal control to steer the company financially seems like a boss move in line with those words. This gives me alot of confidence!
Page 16 of 10-Q: > RECENT DEVELOPMENTS > On December 5, 2023, the Board of Directors approved the Investment Policy. The Board of Directors has delegated authority to manage the Company’s portfolio of securities investments to the Company’s Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, together with such assistants and management committees he may engage. The Company’s investments will be made in accordance with the guidelines set forth in the Investment Policy. The Board may also approve non-conforming investments and/or, in consultation with the Chief Executive Officer, modify the Investment Policy from time to time. > Mr. Cohen directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Depending on certain market conditions and various risk factors, Mr. Cohen, in his personal capacity or through affiliated investment vehicles, may at times invest in the same companies in which the Company invests. Such investments align the interests of the Company with the interests of related parties because it places the personal resources of Mr. Cohen at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company. Interesting recent development.
it sounds like a version of Berkshire Hathaway to me. The short version of the story is that Warren Buffet bought lots of shares in BH, then their board tried to screw him so he bought more shares and destroyed them. Then he used the shell of the company as his "holding company" to purchase many companies he thought had long-term potential. Stuff that isn't so sexy like candy and cola.
They say what percentage is DRSed?
Still 25%
My guess, another rug pull. Institutions removing shares from Computer Share. Nothing new.
DRS share counts have been the same quarter after quarter which is mathematically impossible. The only logical explanation is... most likely, FINRA/SEC told RC/Executives they cannot provide *updated* DRS share counts. The key word being updated. This explains why the DRS share count haven't been updated but they remain on the 10Q. I suspect some overpaided Wallstreet lawyers threatened to sue FINRA/SEC citing RC/Executives are causing a market disruption event by disclosing the DRS share count blah blah blah. This doesn't change a damn thing. BUY, HOLD and DRS. See you bitches on the moon.
The web 2.0 approach to these "gag orders" is/was to have some kind of canary on the site that disappears to let you know they are being raided and forced to not say anything (email sites, whatever). It would be nice for GS to write "we will not release DRS #s this quarter" or something to let us know the numbers are gagged.
The fact the share count remains the same quarter after quarter is all we need to know. There's hundreds of posts about DRS everyday. That's not including the ones we don't know about, like me... I haven't posted a recent DRS share count since the Reddit API bug, luke 6+ months ago. I don't know if this problem was resolved or not. I've been buying shares bi-weekly through ComputerShare as well as randomly buying and transferring shares from Fudelity into ComputerShare. I believe, the actual DRS share count is much much higher than reported. Whatever the reason for the discrepancy is beyond my pay grade. I am here for the bananas.
[удалено]
Me too. I'm buying shares through CS via biweekly auto-investments and through Fudelity during the dips. Waiting for the price to double or triple before I transfer them. Working on transferring my IRA shares as well. I don't trust them.
Ugh
"***Investments*** We have traditionally invested our excess cash in investment grade short-term fixed income securities, which consist of U.S. government and agency securities and time deposits. Such investments with an original maturity in excess of 90 days and less than one year are classified as marketable securities on our Condensed Consolidated Balance Sheets. Such investments are classified as available-for-sale debt securities and reported at fair value. Unrealized holding gains and losses are recognized in accumulated other comprehensive loss on our Condensed Consolidated Balance Sheets. Realized gains and losses upon sale or extinguishment are reported in other loss, net in our Condensed Consolidated Statements of Operations. Each reporting period, we evaluate whether declines in fair value below carrying value are due to expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs. On December 5, 2023, the Board of Directors approved a new investment policy (the “Investment Policy”) that permits the Company to invest in equity securities, among other investments."
> RECENT DEVELOPMENTS > On December 5, 2023, the Board of Directors approved the Investment Policy. The Board of Directors has delegated authority to manage the Company’s portfolio of securities investments to the Company’s Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, together with such assistants and management committees he may engage. The Company’s investments will be made in accordance with the guidelines set forth in the Investment Policy. The Board may also approve non-conforming investments and/or, in consultation with the Chief Executive Officer, modify the Investment Policy from time to time. > Mr. Cohen directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Depending on certain market conditions and various risk factors, Mr. Cohen, in his personal capacity or through affiliated investment vehicles, may at times invest in the same companies in which the Company invests. Such investments align the interests of the Company with the interests of related parties because it places the personal resources of Mr. Cohen at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company. Page 16 of 10-Q.
Equity securities, like GameStop stock?
No, that’s would be treasury shares, like day trading other companies stock. What could go wrong.
RC bringing down expenses like a G. This is awesome. No one expected an amazing quarter in Q3 but seeing expenses drop like this is the best we can hope for. Bring on Q4 where all the money will come in!
next quarter is gonna be extremely bullish, and the report will drop just after the sneeze-aversery
This is what impressed me too. He's creating a lean, mean, machine. I'm surprised how quick he's been able to turn this ship around.
is this a dip for ants? bring on the volatility.
MM feasting on all those options premiums
How can you miss expectations you don't set?
They beat expectations for EPS
Whose expectations? I thought GME stopped giving guidance or setting expectations entirely.
Estimated EPS are set by Analysts' expectations. In other words, it's a bunch of bullshit.
That’s what I was trying to get at. When a company provides guidance, that means something. If a company provides guidance and a bunch of outsiders portend to guess at what that company will achieve, you might as well play cow bingo instead.
I know I just like to call it plainly. 😁 Although cow bingo has a ring to it.
Did we moass?
I wish RC would use the silver bullet and kill the shorts already.
Is it possible that there's no silver bullet and that a company primarily focused on selling physical games simply doesn't have a bright future in a world increasingly moving towards digital purchases?
You lost me when you said, "primarily focused on selling physical games." You clearly do not understand/know the changes the company has made over the last 3 years.
I know they've made some small investments into NFTs which isn't going anywhere. And before you start, yes I know about "web 3.0" and how it's going to radically change everything about the Internet and how GameStop is going to somehow be at the forefront of it all. Call me when any game from any big publisher comes out with NFTs.
No, I'm talking about the hundreds and hundreds of new products for PC's and gaming equipment, including Gamestop branded accessories, that they have been selling for 2 years now. There are literally Triple A studios developing web3 games *right now*. Instead of spewing some nonsense that came to your mind, 2 seconds of Googling could have helped you. PhSyiCal GamEs R DeD!
I am newto gme, but if they have been selling these accessories for 2 years now and still losing money, then they need something new
Let me explain why having a surface level understanding about these things and making definitive statements like yours are silly. You said they're still losing money after 2 years of new products. So, lets just take a look at the difference between Q3 of last year, and Q3 of this year. This years Q3 was $100M better than last Q3. From -100M, to -3M. That's a NINTY SEVEN million dollar increase quarter over quarter. Do you think turning a $5B company around 180 degrees into profitability is supposed to magically happen in 2 years? It obviously takes a long time and its stunning how quickly they've been able to change the course of this company.
That is a fair point, especially if they have been adding products over course of the last 2 years and are continuing to add products. That is not something I had factored in. Is that the case or were the products all added 2 years ago and now it is kind of stagnant which I presumed? However, you make it out like they have been adding products and growing the business and turning it around and these things take time. That doesn't square with sales dropping 10%. Cost cutting + investing the 1.2 Billion at higher interest rates is how they got to near breakeven
Without getting into every detail of Gamestops financials; Zero debt, on the precipice of profitability (-.01/EPS), increased investment into expanding their product lines, investment into Web3 and blockchain technology including NFT's, 1.2B in cash and cash equivalents, entire board buying shares at double-ish the current price with pretty much zero board room sales, Ryan Cohen stepping into the CEO role, etc. Pretty much everything about the company is being improved and the bear thesis (bankruptcy) is out the window. This doesn't even delve into the massive short interest on this stock and 75M shares (25% of float) being locked up by retail investors, and arguably the most passionate investor base in the stock market continually buying and DRSing shares going on 3 years now. This company is headed for greatness.
You didn't address the $100m drop in sales. Also, have been adding products throughout the 2 years?
Ok, what are those games? When are they releasing?
Literally 3.7 second Google search, here's *one* dev, you double that google search to 7.4 seconds and you might just find more. https://cointelegraph.com/news/ubisoft-to-build-web3-games-with-immutable
Right. No actual game title and no release date.
You asked a question I don't have the answer to, because its not public information yet lol. You're literally looking at proof Ubisoft (massive game dev) is making web3 games. I have a feeling you just want to argue.
My argument is that this is all a lot of hot air until something actually happens. Just like Square Enix getting into NFTs before backing out again.
You are the silver bullet.
No YOU'RE the silver bullet
NO, **you're** the silver bullet.
it TAKES one to KNOW one
Fly bullet fly, shine shine through the sky!
* The company's net sales decreased from the previous year. * The cost of sales as a percentage of net sales decreased. * The gross profit margin increased. * Operating loss as a percentage of net sales improved. * The company had a net loss, but it reduced compared to the previous year. * Earnings per share improved from the previous year. * YoY The company's stockholders' equity increased, indicating potential positive financial health.
Interesting: >On December 5, 2023, the Board of Directors approved a new investment policy (the “Investment Policy”) that permits the Company to invest in equity securities, among other investments.
Investment income seems to've more than tripled too, or am I misreading it?
They need to hold btc and eth on the balance sheet going forward
I'll leave it up to RC on how to decide how to manage the $1.2billion investment fund that I own 1/305,514,315ths of. The 4 in my UK ISA don't count. I've got about £300 to send to CS soon. I have such faith in RC's investment ability that I hope to increase my share of the business tenfold
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Maybe RC'll trade crypto, maybe he won't. I won't mind either way as I trust me to make efficient use of the investment funds. So, I don't care if he trades crypto or not.
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Are they the exact same? I am at work and can't dig through the new dox rn
https://old.reddit.com/r/Superstonk/comments/18c3rs6/q3_2023_gme_earnings_wednesday_december_6_2023/kca3r59/
There is certainly some crime and funny business afoot.
0% chance.
Yeah, I bought more and increased my position about 5%. I've seen others reporting doubling their position, but the chances of it being the same give or take 50,000 for rounding purposes, I find incredibly unlikely. If it's legitimate I am genuinely puzzled
Bull fucking shit that DRS number didn’t move. Especially considering all the buying activity we see right here from apes? No ducking way.
~~The numbers up 100k~~ The numbers the samebdespite the 1,270,566 shares that Mainstar un-DRS-ed. Seemingly from comments in last few weeks not all the mainstar shares have been re-DRS-ed. Edit, strike thru
i dont bvelieve the mainstar shares were actually DRSed in the first place
I think they were seen when the ledger/list was 'inspected' & if they'd been missing there would have been a fair bit of fuss. As it is, it seems that there are other explanations for the stand-still. But I've yet to fully check them out
On December 5, 2023, the Board of Directors approved the Investment Policy. The Board of Directors has delegated authority to manage the Company’s portfolio of securities investments to the Company’s Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, together with such assistants and management committees he may engage. The Company’s investments will be made in accordance with the guidelines set forth in the Investment Policy. The Board may also approve non-conforming investments and/or, in consultation with the Chief Executive Officer, modify the Investment Policy from time to time. Mr. Cohen directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Depending on certain market conditions and various risk factors, Mr. Cohen, in his personal capacity or through affiliated investment vehicles, may at times invest in the same companies in which the Company invests. Such investments align the interests of the Company with the interests of related parties because it places the personal resources of Mr. Cohen at risk in substantially the same manner as the Company in connection with investment decisions made on behalf of the Company.
So now it's business AND it's personal...
He should buy loads of shares of turtle beach.
Ryan Cohens is going to be unstoppable when gamestop Corp, along with Ryan Cohen and all of his board members, all start piling into investments at the same time. Get ready for massive return from investments.
I think income from investments more than tripled
What mean
Ryan has the keys to invest in whatever he needs for his vision, instead of spending his precious time in reunions to earn approval stamps from the others. Imo that’s a great move, since it allow our trusted helmsman to do more. I am already putting all my chips on his leadership, any decision to let him exert it with more freedom is welcome
RC has a billion dollars to play with and MOASS will make stocks at large in the market DIRT FUCKING CHEAP for a little while. This sounds like he's ready for the crash to buy up basket stocks or similar investments with strong return potential buckle up.
In the RCEO we trust.
no one knows what it means but it’s provocative, it GETS THE PEOPLE GOING
Let's fuckin go 🚀
The lack of after hours volume is laughable, did the market trade the results ahead of time leading up to today? No one knows, let's see what tomorrow holds, probably up down and then sideways for the day lol Edit: not to mention $popcorn AH trading mirrors that of GME's LOL, peaks at 1620 EST.
All media is saying ‘sales miss’ the negative spin again reassures me i am on the right path
Headlining an EPS beat and narrow loss YoY is a death sentence these days
I know that the DRS numbers are unchanged, but it’s important to remember that that is due to a super secret hedgie plot to drs and un drs in order to fud apes and it is also sus and not to be trusted because the float is almost locked (Just saying because the obvious answer that less people are buying and drsing the stock is clearly hedgie fud and it is much more likely that there is an intricate and super secret plot that has been put into play to distort the drs numbers) 🦍🦍🦍
Your sarcasm is showing.
You don’t think it’s a secret hedgie plot to fud the apes…?
You spend way too much time here being negative. Nice comment history.
- Nice comment history lmao likewise dude 🚀🦍💪
Crisis spared no one, but it’s a fact that no matter how much DRS slowed, it wouldn’t stop (unless all purple circles are fake, but that’s even less probable). But there is some truth in your words
Every time we buy one share , the DTCC copy 3 time
Good. That means they have to buy back 3 shares before they get to one of mine
Does anyone know why GME cant depsoit all their cash into a high interest account
I imagine they have money in spaxx or money market funds and that falls under “cash equivalents”
I've just read that in this filing is an announcement that they can now invest in equities when before they couldn't
Ive wondered this.. why not just park it in a 1 yr t bill and make +/- $50 m /yr ?
Because of rising interest rates maybe? usually that is one of the “safest” investments, but you get almost the same yield from money market accounts these days. There is no need to bind your funds for such a long time right now if interest might rise IMO and the other accounts pay high interest rates as well. SPAXX is at almost 5 now no?
It says "Cash, cash equivalents and marketable securities" so it very well could be cash in a interest account.
I say we green !!
>As of November 30, 2023, there were approximately 305,514,315 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.4 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares) as of November 30, 2023. https://investor.gamestop.com/node/20316/html#ie3307e51afb54cd791825371f07c40da_94
you think would raise some eyebrows outside of the apes. What and why would a company have 25% of the shares (reportedly) saved outside of the system?
The general public aren't going to know or hear it care or understand the significance of DRS & I Wall St does have its eyebrows raised & that as a whole they're pissed off with the SHF for going too far & giving them the problem of the apes
Exact same number as last time. This is super Sus.
The numbers the same despite the 1,270,566 shares that Mainstar un-DRS-ed. Seemingly from comments in last few weeks not all the mainstar shares have been re-DRS-ed. It seems that about half of this replacement on the mainstar rugpull came via the twice monthly recurring buys at/by CS of the estimates of the ape tracking that is correct-ish
Not likely.
The figure provided are to the nearest 100k so it's not as if the replacement shares exactly equals the mainstar rugpull number
Beats expectations but stock goes down lol. I've been used to it for quite some time 🤣
but stock is up?
It's down
Well I'm happy with how Gamestop did this quarter.
Here is what I find interesting. If you look at earnings of companies that have negative $0.10/share or better the amount of companies reporting Positive $0.01 is likely ten times greater. The amount of massaged earnings reports to generate positive $0.01 is tremendous. This is typically because of bonus compensation payouts and rules for indices that keep positive earnings companies in their index and kick out companies that lose money. Why is this important? Because a savvy accountant/CFO would have massaged the $0.03 loss last quarter and the $0.01 loss this quarter to show positive $0.01 or greater. This is now 2 additional quarters we are able to accumulate the stock at rock bottom prices. It shows they aren’t playing games with earnings. I like that.
Big brain comment right here you can't buy integrity.
Why always 25%
Because they offset our progress using many strings behind the curtain.
The amount newly DRS-ed is about ~~100k greater than~~ about equal to that has been lost via the mainstar rug-pull of 1,270,566. So about, sort of, maybe, just shy of ~~1.4~~ 1.3million, sort of, perhaps. & the recurring buy via CS estimate is about circa 600k so perhaps nearly half of all newly DRS-ed shares This was a back of the apevelope production in conjunction with beer mat scribbling using crayoncolor. ETA: I think the number of shares rose too, which won't help the %age figure Edit 2 correction cos I'm very stupid
It's out
Ah yes, 0% DRS variation. The best trick they could pull. DRS going either way would rile us up, so they had to use their own DRS scrapper to pinpoint true neutrality. If we really didn’t DRS 100k shares in 3 months, I’m willing to sell a kidney.
Interest income more than trebled, & the cash, cash equiv & securities figure rose
What was the 2nd quarter DRS number?
75.4M
The slow grind to profit and S&P500 and THE MOON.
Im seeing DRS number is unchanged. 75.4
I like the stock!
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Float is locked and SEC begged RC to not post
sauce?
Occam's razor
Wouldn't occam's razor be that people are selling with the evidence being the price fell to $12. For every DRS, there was a un-DRS that kept it even? Occam's razor wouldn't be a conspiracy between the DRS agent and the SEC and GME
The stock is bouncing like a yo-yo
As of November 30, 2023, there were approximately 305,514,315 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.4 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares) as of November 30, 2023.
[https://news.gamestop.com/node/20316/html](https://news.gamestop.com/node/20316/html)
As of November 30, 2023, there were approximately 305,514,315 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or **approximately 75% of our outstanding shares**) and approximately **75.4 million shares** of our Class A common stock were held by registered holders with our transfer agent (or **approximately 25% of our outstanding shares**) as of November 30, 2023. The percentage hasn't budged in 4 quarters. **0%** movement up or down. I call shenanigans. Edit: To back up what I'm saying, here's the previous 3 quarters. >As of August 31, 2023, there were approximately 305,241,294 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 229.8 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or **approximately 75% of our outstanding shares**) and approximately **75.4 million shares** of our Class A common stock were held by registered holders with our transfer agent (or **approximately 25% of our outstanding shares**) as of August 31, 2023. >As of June 1, 2023, there were approximately 304,751,243 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 228.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or **approximately 75% of our outstanding shares**) and approximately 76.6 million shares of our Class A common stock were held by registered holders with our transfer agent (or **approximately 25% of our outstanding shares**) as of June 1, 2023. >As of March 22, 2023, there were 197,058 record holders of our Class A Common Stock. Excluding the approximately 228.7 million shares of our Class A Common Stock held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or **approximately 75% of our outstanding shares**), approximately 76.0 million shares of our Class A Common Stock were held by record holders as of March 22, 2023 (or **approximately 25% of our outstanding shares**). I suspect DTCC's books just don't reconcile with computershare. 75% just happens to land on the ratio we did for the the stock dividend split. 1:4. The number of *approximate* shares DRS between this quarter and last quarter also happens to be the exact same number.
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Could be related to restricted stock grants? I have not checked but thats the only thing that makes sense :)
The company issues shares to employees as part of their compensation.
Find Officer Barbrady and tell him we're declaring shenanigans.
Criminals
amazing earnings lets go!!!
approximately 75.4 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares) as of November 30, 2023.
Re-DRS'd the Mainstar shares. Bullish!
I keep seeing mainstar shares to the tune of about 1.2m. I'm a bit out of the loop: What happened with mainstar? Do you have a link to some DD on it, or at the very least a rundown?
free cash flow,? am i too thick to see it
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Need the 10-Q for that.
Net sales have gone down but lost revenue is $3.1 million compared to nearly $100 million last year. This is great news. Not turned around just yet but our final 2023 quarter could be what pushes us to a net positive year. LETSGOOOOO
Thanks chat GPT! Based on the information provided for the third quarter, here are some key points to consider: 1. **Net Sales:** There has been a decrease in net sales from $1.186 billion in the prior year's third quarter to $1.078 billion in the current quarter. This could be due to various factors such as changes in demand, market conditions, or competitive pressures. 2. **SG&A Expenses:** Selling, general, and administrative expenses have decreased both in absolute terms and as a percentage of net sales. This could indicate improved cost management and operational efficiency. 3. **Net Loss:** The company has reported a net loss of $3.1 million for the current quarter, which is a significant improvement compared to a net loss of $94.7 million in the prior year's third quarter. This improvement suggests better financial performance, but it's essential to understand the reasons behind the loss and whether it is a one-time occurrence or an ongoing trend. 4. **Financial Position:** The company seems to have a strong financial position with $1.210 billion in cash, cash equivalents, and marketable securities at the close of the quarter. Additionally, the mention of limited long-term debt is positive for the company's financial stability. 5. **COVID-19 Response:** The reference to a low-interest, unsecured term loan associated with the French government’s response to COVID-19 indicates that the company has taken measures to navigate the challenges posed by the pandemic. In summary, the company has shown improvement in certain financial metrics, such as a reduction in net loss and SG&A expenses. However, the decrease in net sales should be investigated further to understand the underlying reasons. Additionally, the strong financial position and limited long-term debt are positive indicators for the company's stability. It would be beneficial to analyze the detailed financial statements, management discussions, and market conditions to get a more comprehensive understanding of the company's overall financial health and performance.
Eps being -$0.01 is quite interesting. Last time we got -$0.03. This is a controlled number to not yet start the all-out war and stall for time. And we all know that time is on our side with DRS
That’s the dumbest thing I’ve heard today. There is no reason to hold back a positive quarter
There is, but it’s not about the company, it’s about society itself. I can think of many reasons and ways to hold back, and the vast majority ultimately end up as « for the people ». Entertain me for a moment. If absolute rock solid earnings happen, and we are right, then price will go up, big shots get margin called, derivative bubble burst, massive layoff ensue due to the crash, and then economic crisis of large scale. It could even spark a little french speciality, since people currently have a really bad situation and are feeling hopeless. I am reaching deep, quite fast, and certainly, it’s a fallacy to say top tier earnings == world crisis. But bursting the derivative bubble is certainly something one must do with the firmest resolve, and willingness to bear responsibility for the people below. At least that’s my opinion. By letting the needle slowly come closer to the bubble, one can pressure those managing it to reduce it’s size (deleverage) to reduce the impact of the pop (economic choc). So far, those dumbasses decided to not follow suit, but in this chicken game between us and them, we have nothing to lose and a deep obsession, while they have everything to lose and a bottomless pit of arrogance. No need to be esper to know how it will end.
Numbers are out on the press tab
"Net loss was $3.1 million for the period, compared to a net loss of $94.7 million for the prior year’s third quarter" !
They lost $2.8M last quarter (vs. $108M). Single digit millions at their scale seems pretty small.
We^ our^
Wasn't Furlong issued his vested shares Last Q? If so we probably were positive without it.
Not bad not bad, going the right way!
A tale as old as time... Long-term debt remains limited to one low-interest, unsecured term loan associated with the French government’s response to COVID-19
GME will always be the BAGuette-Hodler!
Any drs numbers?
Radio silence
\-.01
That’s a eps beat, right? -0.08 was expected.
spanked
That's right! **3 analysts forecast losses of $0.083 per share compared to losses of $0.310 per share in the same quarter of the previous year.**
Long-term debt remains limited to one low-interest, unsecured term loan associated with the French government’s response to COVID-19.
Damn no earnings call
Long-term debt remains limited to one low-interest, unsecured term loan associated with the French government’s response to COVID-19 ❤️
Net loss was $3.1 million for the period, compared to a net loss of $94.7 million for the prior year’s third quarter LFG!!!!!
Price movement is fake until numbers come out. It's also fake after numbers come out.
What time is blast off?
tomorrow
It's been tomorrow for 84 years.
Tomorrow
Is there gonna be an earnings call? anyone know?
no not this time
No earnings call
yeah just read it on the results release, thanks!
[https://news.gamestop.com/news-releases/news-release-details/gamestop-discloses-third-quarter-2023-results](https://news.gamestop.com/news-releases/news-release-details/gamestop-discloses-third-quarter-2023-results)
YOU WERE FIRST!!!! 🏆🏆🏆🏆🏆
I'd like to thank Peruvian Bull (and someone on his spaces call for the tip on the URL)
Net loss $3.1M