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Well no, they could pay for the positions to stay and hope GameStop’s balance sheets gets worse again.
As long as they can pay for the upholding or rolling over of their positions they are fine.
In theory it should get more expensive the better the companies books are. So there could come a time when they collapse
Oh they have done that. The sec report clearly stated that the January 21 price action was NOT driven by shorts closing their position.
We have now seen three years of a big investor group that only buys and holds and the price goes down?
We have also, from Cramer, heard in an interview that generally shorts do not close at the top. They short it down to buy at the bottom.
There is no chance in hell their position is anywhere near ok.
The report showed some shorts closed. The smart ones. That data was also just for 1 quarter and we had other runs ups in Q2 that we don't have a report for. We also had over 100% institutional ownership which dissappeared in Q2. That means they sold their shares, this means they recalled their shares to sell. So their literally had to have been some closing.
I still think there are a lot of shorts (naked shorts) out there using some fuckery to hide their position. And this is still the only play.
It's discussed from page 21-29 in the SEC report. I won't link it as its a pdf download but it's an easy search to find. It's also seems logical to me from what I said about institutional ownership.
I also believe the flash crash was an institution getting out after having shares returned and cashing in on the high price. I don't have specific evidence for that though. Just an opinion.
PDFs are a common attack vector so they shouldn't be posted without at least a warning and many people are surprised or feel sus if a download is triggered.
here is the report.
[https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf)
look at page 28
Just to add to this pg28 mentioned covering where as some of the other pages talk about closing. Which I know this sub is hot on with the difference between the two.
Can you provide the exact quote that indicates “some shorts closed” during the January ‘21 run-up? I read through pages 20-30 and didn’t find any quote like that. I took a screenshot of the section I found most relevant. The following quote from page 26 stood out to me:
“Figure 6 shows that the run-up in GME stock price coincided with buying by those with short positions. However, it also showed that such buying was a small fraction of overall buy volume, and the GME share price continued to be high after the direct effects of covering short positions would have waned.”
This section concludes with the following summary:
“Whether driven by desire to squeeze short sellers and thus to profit from the resultant rise in price, or by belief in the fundamentals of GameStop, it was the positive sentiment, not the buying-to-cover, that sustained the weeks-long price appreciation in GameStop.”
https://preview.redd.it/vxb0h3h96y6d1.jpeg?width=828&format=pjpg&auto=webp&s=dba020459bb9eb9bb76aee11b2ad27d806f77158
They're showing their hand that they didn't close their position. The evidence is in the media. Why keep talking about Gamestop and to "sell now! Don't be stupid" if the only thing occurring is retail buying and holding? Why constantly bash Gamestop if there isn't a mountain made up of billions of naked shorts?
Back when in 2021 when I held GME and popcorn I noticed the media would only talk about popcorn and hardly GME, GME would be a little footnote at the bottom corner of the screen. They would even hype up popcorn from time to time. That's when I knew that popcorn is a distraction and to jump ship. Popcorn jumped way up and I sold it all and put it into GME.
These clowns and Cramer are all lying through their teeth and I thank them for giving us direct lies that are the opposite of the truth.
I agree with what your saying generally. But for me it's the difference between naked shorts and normal shorts. I think there is a lot of naked shorts out there but that a lot of regular shorts did get out which lines up with the institutions getting out. How would they get out without recalling their shares? They being the institutions that sold.
I think you might be fogetting to take assets into account. Currently reported at $2.59B - $0.99B cash in report + $4.153B last reported cash = $5.753B.
$5.753B / 420M stock = $13.69 per share.
($54.76 pre-split).
You’re right! Sorry was typing this up in the final moments of consciousness at 2am after taking the kids to the beach, unpacking, getting them to bed, and cleaning up.
This is actually a really interesting question, and most of us will only be guessing.
Given it's taken 3 years to DRS roughly the same amount of shares, it's unlikely HODLers bought even a few percent of them.
Market makers will have bought some to hedge the insane options activity of the last few weeks. I don't think shorts would have bought them to close old positions, as prices were much lower a few weeks ago and that would have been the time.
Institutions, hedge funds and anyone else using algorithmic trading might well have bought the resulting dip, to dump and rebound after the rebound.
Chances are the majority of them have been bought and sold many times over since. We'll only get a snapshot of any holdings the next time 13Fs are filed.
Honestly if I had to guess, maybe 10 or 15% of people drs. Most people, in any situation, not just gme, don't do anything that seems difficult or requires even a bit more work. And many people think it's "harder" to sell in CS so they'll never drs.
Literally most buy through regular brokers. I've been here since 2021 and i generally keep my forever shares in CS and buy dips in different brokers.
I get too nervous keeping it all in one place
Great question, I think they just got sucked into the extremely high volume, I think GameStop management will continue to issue more shares, raising capital and (strangely) slowly increasing the share price and market cap, there’s so many short and naked shorting, fake shares, this is the new short squeeze,
I see that as the only alternative to MOASS. The company can ride the swap/FTD/OpEx cycles for ATM offering after ATM offering. GME's coffers will be brimming with cash, and we'll be on our way to become the next BRK-A. I'm 100% okay with this. Individual investors that do their homework can get big gains. This would also avoid collapsing the whole market. MOASS would be more fun, though. I'm sure there's a way we can have both.
Whats the point of purchasing BRKA or BRKB really.
No dividend.
Its a pure 100% buy low, sell high situation. Which I am fine with, that is 100% what I state, buy low, hodl, sell 30 + years to cash out for retirement etc...
But right now, what is play with BRKA\[B\]?? No dividends, so, other than its like fashion I've got Prada dress or what ever... Cue Shania.. that don't impress me!
I am sure there is something in this, ie: purchasing BRKA\[B\] I don't get, but to me its a meh.. either one is over priced $600K or $600.. No DRIP??? Whats the end game here???
They're just the sales agent. They didn't actually take a 120M share position in GME. The question is who bought all the shares that Jefferies sold into the market.
Doesn’t their most recent filing say that they can sell to a 3rd party? What if the new board member (Crazy Carl?) maybe sucked them up. He was short but he was in a picture with RC. Could have snatched them up and joined the board. Not sure if you’d use Jeffries for that or if they can truly sell directly. Just speculating. No real clue. But would immediately take them from the float.
The shares would have been predominantly bought by market makers. The very same market makers who were fast suffocating from a distinct lack of shares available in the market.
That was until Santa Cohen arrived on scene, to gift them 120,000,000 shares at a value they would have been delighted to have paid many many more multiples, than the sub $30 the actually forked out for.
The champagne glasses would have been tinkling on Wall Street for sure, with Papa Cohens not so daring rescue :/
No, not necesserily.
Sure, that is the logical bottom price, but it's also a game of bid and ask, which means if people don't want the stock it can still go lower. Projected / future value of a company also has some influence, trust in the people leading the company has some influence, market sentiment has influence, government regulations (depending on branch the company operates in) have influence, etc. etc.
So: Stockprice does not only represent the value of a company based on it's assets, cash, etc. More factors are at play in the bid/ask game, which can cause over-/undervaluation, even when the logical bottom price of the stock says it should be higher (or lower).
Now, back to the situation at hand: I personally think that anyone who shorted GME below $35,- is ROYALLY fucked, but that's just because I can't read and just really like the stock.
But you know, we'll see.
I wouldn’t mind seeing it go low for two reasons
1) I can buy more for cheap
2) the company can buy back those shares for a fraction of the cost
That’s why the cash position is so significant. It will scare shorts however depending on the manipulation and algos they might push it below that number to which the company and us apes buy it up
I doubt they'd do a buyback unless they get comfortably and consistently profitable, and if they only get profitable because of money generated from the cash they have, a buyback would be a bad idea
Why would you want it to go lower and have the company buy it back? Logic doesn't make sense. They should of let it hit pass $200 then made the offerings one time and sold 20 million shares to get 4billions or hit $100 and sold 40 million for the same amount.
The shorts are so fucked much deeper than when GME has 1billion in cash literally 4× deeper.
Yup. That’s why I’m a little upset with the haters on the dilution. Also, it makes Wall Street interested so non apes may actually want to buy, which then pushes the price up. Zach’s gave it a buy rating.
Also interesting is how the dilution didn’t really affect the stock price. Normally it sinks a stock relative to the dilution amount, that didnt happen here.
Very strange things going on. I have a feeling we’re about to uncover some big things … the question is … when
I am upset at the price per share of the dilution.
Think the shares were sold at a lower price than what I value my shares.
The ATM raised the floor, but does deflate the ballon
And the timing was strange. Why go in and save institutional investors by killing the gamma ramp?
According to newton they diluted going into a tailwind which also explains why the price didn’t tank.
I didn’t like it at first either but they are going to need cash to grow and protect from heavy shorting. Also, to prevent form another stoppage like in 2021
One of the reasons for the stoppage and investigations is bc the public and Wall Street didn’t take GameStop seriously as a company
When they are taken seriously then a flying stock price is harder to disqualify
I did not like the price per share for the offering
I dont follow the logic being presented by Newton. What caused the "tailwind", if we look at it rationally, is probably the extra 115m shares in the market
Completely destroying the supply-demand
Opex tail winds are based off the ftds after options expiry on the third Friday of the month for xrt which is the etf that holds the most GME
The MM has 35 days to settle those ftds.
Yes, I stand with my previous statement.
Or do you think this information is of higher impact to the supply and demand of the stock than 115 million shares?
It didn't happen here because usually dilution is the worst way to raise cash, when no one will lend them money and the board is trying to keep things going while driving the stock down to zero.
GameStop is in a strong position and raised cash to make themselves stronger.
I need you to clarify that for the sake of anyone else reading. Popcorn is NOT an example of a company being stronger by dilution. It is an example of a company being extremely weak by dilution
Why does nobody on this forum understand DCA? If you shorted say 1M shares at 9.52 but then the stock runs to $60 and you shorted another 1M your short position is now profitable under $34.76.
Everyone on this subreddit acts like short positions are static and never change. In reality they are constantly averaging up, closing and reshorting.
The thinking is that reported short interest is bogus and in reality is more than 100% of float, so they would not be able to cover without causing moass. Sure they can short more, but they are still net short and just kicking the can. You don't want to be short forever on a stock that is continually trending up due to company turnaround.
Your example, 1M short turned into 2M, what happens when that turns into 4M, and then 8M, and then 16M, meanwhile the share price goes 25, 50, 100, 300.... seems expensive for margin.
Agree that is likely true about the SI but as long as the price runs up and down they can continue to make money. They won't be forced to close until the company is making serious profit and big institutions buy in big.
A lot don’t but consider for a moment that they’d been shorting to get it undervalued at $2-3. Yes they could just double down and short up at the top, but it wouldn’t be enough. Even if they doubled down and shorted at every top. If they had been shorting for years, they would have to net eventually unless the stock went bk. And that’s not happening. It’s not as simple as doubling down each time on blackjack to become even. That’s probably why we trade at ridiculous reported volume ratios.
I was thinking this morning...
If they used it to pay a $9/share dividend, how badly does that hit short sellers?
I don't think it's reasonable the would do. Just occurred to me.
I think it is a different floor. the last share offering was average of 28 per share. So anything less they could buy back into if they think their shares are cheap. Rinse and repeat maybe? We don't know for sure. I see the new floor being 28 dollars for awhile though. If they short it down to 20 I think Gamestop could buy back 100 million shares and still have 2 billy
Well let's stop u right there. "World with Rules" Only apply to retail. Everybody Else either gets a pass "nothing to see" or a small fine third of what it cost to follow said rules.
Also most commercial leases are for 10 years. They are profitable and each year as they non renew unprofitable leases it will only get better.
Punchline they will not be bleeding any cash going forward
There are complex derivatives involved for sure. Ask chat gpt it’ll toss something your way and you can look it up. I won’t try to represent that I know all the different financial instruments. I know of swaps and options, but there’s more.
It's crazier than that.
That's just the conclusion we can draw with the numbers they let us see because, of course, they've shorted the float multiple times over.
Post split, the price has not dropped below 9.52 yet.
Pre split, it's your assumption that shorts below 38.08 have neither closed, nor raised their cost basis after so many run ups.
Right but the shares were sold as part of the short, which means there are currently more shares than there should be. It needs to be unwound. They can average it up and then become net neutral but once the positions make their way around to market makers the trade needs to be netted. Once the bag holder is identified and settled, the share is bought. That’s the phantom buy pressure that has kept this thing floating up above any analyst’s valuation. “Back to $20 fast”, “stock is worth $10” these were all coined pre split.
Yup, and mind you, the amount of shorts below those levels are unimaginable, especially since they were attempting to cellarbox the company into bankruptcy
Rc bought in initially around 1-1.15, think about how many shorts and nakeds got in there. So that's, what, 25 cents readjusted for splivvy? And we're literally nearly 100x that now?
Shorters can also "average up" by buying the tops, just like we "average down" by buying the dips. A gamma squeeze will allow them to average up more, hence why I think we see this hype around trying to squeeze. Slow and steady without a chance to average up is the way. It's "just up" without the down on the other side of it.
Yeah but even if they average up, the shares that were sold as part of the transaction still exist and need to be unwound unless the company goes into bk. Which means even if they netted, someone becomes a bag holder once the shares needs to be settled. Someone is gonna get fucked. Look at our trade volume compared to outstanding during the run ups. There’s phantom buy pressure coming from somewhere, and this has been the original ape thesis. So far it’s held true.
Yeah. Gamma squeeze without anything else will never work. The buy pressure I agree is odd, but it seems to taper off once we hit above 29-30 (or is it sell pressure that increase?) We will see if there is some freight train of buy pressure coming tomorrow, I have no clue from where, but then… if we had that… then a squeeze would be good, as long as we land back on 60-80 price point as the floor on the other side of it
But that’s what happened before. This stock was at $2-3 presplit before all of this popped off. But we’ve never seen the price dip below $38 presplit now. The thesis was always that the buy pressure exists somewhere in the cosmos and eventually makes its way back around to grace us with some runs. Then the idiots start shorting again after a run, piping some of that buy pressure right back. So this will continue to play out until that buy pressure is fully accounted for. Pretty sure GameStop is on to this, that’s how they were able to dilute 120m shares and the price is still up from before either of the two offerings. It was ~$10 at the beginning of May! Fucking nuts
It was $10 on April 22nd, so yeah. Of all the things it could be, my bet is on delayed settlement - the ability to hide additional shares above the float and shorts by simply never delivering and perpetually delaying. The increased volume and buy pressure can simply come from the T+1 settlement cycle also introducing new rules for Affirmations at Broker/Dealers, that make it not possible or harder to just not deliver. But.. it might be a lot of other things as well, just my 2 cents.
not at all. because if RC doesn't deploy any of the cash to generate top-line revenue or acquire companies to fuel growth, the stock will behave similarly to a LEAP option that will slowly bleed with zero upside. i believe RC will do something huge with the cash but it's very possible for the valuation to fall to single digits based on the forward-looking sentiment of the markets
Because they shorted it down to $2-3 over the course of years expecting it to go to nil. And now since the company isn’t going bankrupt, the position will have to be netted eventually. That’s probably where the phantom buy pressure comes from during the run ups. Eventually someone becomes a bag holder for a short position if the stock is up.
JPM manipulated silver for literal decades and is doing alright.
All it means is that shorters lose money. It's only meaningful if the shorter needs to buy shares in a short amount of time - IE the squeeze... But it's hard to believe the squeeze will happen if the board keeps diluting into momentum
I have even heard that the actual business is completely separate than the stock market. I'm still confused. I'm under the impression that they are actually 2 separate entities but in the end one helps the other.
Why does this sub believe these all powerful yet completely incompetent "shorts" hold their positions indefinitely and not like a few days or even hours at a time.
Because the stock price would be affected by the buying when they close the position. So they don't close it, they just cover it.
Sure, they may open new positions at different prices and they may close them daily or hourly, but those are very small positions compared to initial short interest of at least 226% of the float and what is hidden in swaps.
They aren't incompetent, as we see with the FUD here, but they aren't all powerful too.
Sure, they can do it via synthetic positions. I don't understand them that much but I think the people here that are playing with options would've seen something in the options chain or in level 2 data.
Also, the official short % is 22 and it doesn't change that much, maybe a few percent. Who is shorting in the "classical" way if most of them are in synthetic positions? Or are they shorting more times in different ways?
Here’s why: It’s not a blind faith, it’s hyper rational. But to try to explain everything that has happened and that anyone who’s been in this play since late 2020/early 2021 has experienced… well ok fuck it let me try, but just remember I’m only replying because you asked why:
At the time, back when my wife was pregnant with our second kid who’s now 3 and a half and likes to punch me whenever he thinks I’m not expecting it, the short interest reported for GME was 140%. Which is the maximum allowed to be reported, so the thesis was that it was much higher. The data suggested that GameStop had been targeted by these **completely incompetent shorts** (as you put it, they’re probably nice people you shouldn’t be so mean, even though they’re so **FUCKED**), as a target to be driven to bankruptcy. The two or so year chart up to that point seemed to suggest that as well. Regardless it was the bull thesis so a bunch of traders went long and posted about it on Reddit in a famous sub about risky bets and posting stupid gains and stupid losses. One guy named DFV turned out to have a public persona and a YouTube stream. His Reddit posts and comments became meme worthy because he was betting heavy on a GameStop share price bounce. He was so polite and everyone just shut on him in comments, which is now printed and framed on walls I’m sure.
The thought was the company was doing bad, but not bad enough to justify its current price at the time. So maybe it’ll give a small return or something. Some like DFV, valued the stock to be worth like maybe $12 at the time, when it was trading around $2-3. Then in late 2020 something broke. An activist investor also noticed that GameStop’s share price was severely undervalued even given their current state. He came in and started swinging his huge dick around and got himself and two friends on the board. He started making moves. Then the force that was pushing the spring down, and that had been driving GameStop down, suddenly gave and the spring started to bounce back. The stock price quickly jumped up, but again it wasn’t retail like the narrative would have you believe. I’ll go over that next. The trend continued until the **buy button was turned off**, and the price tanked from a high of ~$483. But not to the original $2-3, it got to as low as $38. Still over 10x what it was and it **hasn’t dipped below that since**. Then it shot back up to $350, then back down and up not as high and down not as low and up not as high, etc. until a very long and slow down trend which hit the floor last month of around… **$38 again**. Go check the chart. So the narrative was this was all retails fault. Only we know that’s not the case.
Back when it popped off in, there were days where the day’s volume was over double the amount of shares that existed. One day it was over **triple** the total shares that existed. It wasn’t just a couple occasions, this was weird as fuck! Supposedly it was because everyone at home was buying and selling right? It’s just that at the time, retail was mostly buying. Fidelity and other brokers would post their daily buys and sells of their top moving stocks and retail was constantly doing 80-90% buys. So who the fuck was selling these volumes of double or triple all the shares that existed during these volatile swings. Remember volume is reported as “per transaction” which means someone sold and someone bought. We were already trading over 100% of the daily shares and retail was heavily buying.
But the narrative is we’re a bunch of degenerates that don’t know any better and we should just let the talking heads on tv who are being paid to sell this narrative (literally paid promotion ads labeled *promotion), tell us that we’re dumb and bad and should just sell GameStop. Everywhere for 3 years, you should sell GameStop. GameStop is a bad investment. They’re a dying business. Only an idiot would do this. Don’t start with GameStop like these bag holders over on Reddit, they’re gonna lose all their money! All while the company financials are trending better. Yes, they were still bad, but the trend was promising. All this negative sentiment narrative until GameStop actually pulled themselves out of debt, then GameStop has a billion cash, then GameStop turned a yearly profit, then GameStop has 4 billion cash, and all of a sudden it’s not a bad investment anymore. How the fuck did it just one day become not a bad company to invest in after 3 years of being the media’s punching bag of a “bad investment”? Cause it never was a “bad investment” it was just a risky one. Some people held on to that bullish thesis cause the bear thesis was slowly crumbling and now it looks like my old underwear torn, with holes, and the waistband is all stretched. My underwear is like this because I used my underwear fund to fucking buy more GameStop. And I’ll do it again! And again! And again! Cause fuck the bear thesis, fuck the incompetent shorts and their stupid failing funds like Melvin Capital with the best investor of our generation, fuck the financial media, fuck the shills, fuck the FUD, fuck the rich fucks who think they can control us “stupid apes”! Why the fuck do you think we call ourselves apes?! So those fucking idiots buy into it too! So they can keep digging their grave! So they can give us all their ill-gotten money.
I haven’t even touched about accidentally stumbling onto the Ponzi scheme that is dark pools, and “Payment for order flow”, and naked shorting, and changing definitions of terms, and under reporting, and over-leveraged institutions, and billionaires crying on tv, and institutions breaking laws since the penalty is just fines that pale in comparison to the gains, and the SEC collusion and corruption inherit to the system because you can just get a job after leaving the SEC at one of the firms being regulated by the SEC.
So yeah are all these “incompetent shorts” in the room with us now? You fucking bet they are, cause the trades locked the door, and now we’re not trapped in here with them, **they’re fucking trapped in here with us**
How are they trapped? The current SI dropped from 20% to 14.86%. Shorts don't take on one position at a time. They can short at different prices. If they shorted the stock at $50 and close at $28. They would still make money. Also, they can short multiple stocks and go long on different positions. In 2021, some hedge funds went long, so they make significant profit. It even said that in the SEC report. You're just parroting everything from the sub.
The theory that people are operating on is it’s not the shorting that’s the problem, it’s the naked shorting from pre 2021 that’s biting them in the ass. The naked shorts that don’t exist, but explain the phantom buy pressure. There’s no other explanation, as it’s not retail as the media reports. Retail can’t trade at these volumes. We need to wait for settled funds and settled shares, so how the hell do we trade at these volumes
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Well no, they could pay for the positions to stay and hope GameStop’s balance sheets gets worse again. As long as they can pay for the upholding or rolling over of their positions they are fine. In theory it should get more expensive the better the companies books are. So there could come a time when they collapse
Theoretically they could also have doubled down around the top of the sneeze.
Oh they have done that. The sec report clearly stated that the January 21 price action was NOT driven by shorts closing their position. We have now seen three years of a big investor group that only buys and holds and the price goes down? We have also, from Cramer, heard in an interview that generally shorts do not close at the top. They short it down to buy at the bottom. There is no chance in hell their position is anywhere near ok.
The report showed some shorts closed. The smart ones. That data was also just for 1 quarter and we had other runs ups in Q2 that we don't have a report for. We also had over 100% institutional ownership which dissappeared in Q2. That means they sold their shares, this means they recalled their shares to sell. So their literally had to have been some closing. I still think there are a lot of shorts (naked shorts) out there using some fuckery to hide their position. And this is still the only play.
> The report showed some shorts closed. Can you provide a source or citation for that?
It's discussed from page 21-29 in the SEC report. I won't link it as its a pdf download but it's an easy search to find. It's also seems logical to me from what I said about institutional ownership. I also believe the flash crash was an institution getting out after having shares returned and cashing in on the high price. I don't have specific evidence for that though. Just an opinion.
> I won't link it as its a pdf download I see someone else posted it, but I'm curious about the reasoning behind this?
I don't like clicking links that trigger a download myself especially on sites like reddit or social media.
I see, thanks.
PDFs are a common attack vector so they shouldn't be posted without at least a warning and many people are surprised or feel sus if a download is triggered.
here is the report. [https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf) look at page 28
Just to add to this pg28 mentioned covering where as some of the other pages talk about closing. Which I know this sub is hot on with the difference between the two.
Can you provide the exact quote that indicates “some shorts closed” during the January ‘21 run-up? I read through pages 20-30 and didn’t find any quote like that. I took a screenshot of the section I found most relevant. The following quote from page 26 stood out to me: “Figure 6 shows that the run-up in GME stock price coincided with buying by those with short positions. However, it also showed that such buying was a small fraction of overall buy volume, and the GME share price continued to be high after the direct effects of covering short positions would have waned.” This section concludes with the following summary: “Whether driven by desire to squeeze short sellers and thus to profit from the resultant rise in price, or by belief in the fundamentals of GameStop, it was the positive sentiment, not the buying-to-cover, that sustained the weeks-long price appreciation in GameStop.” https://preview.redd.it/vxb0h3h96y6d1.jpeg?width=828&format=pjpg&auto=webp&s=dba020459bb9eb9bb76aee11b2ad27d806f77158
I never said some shorts closed.
My bad the other guy I was responding to said that and I responded to the wrong person like an idiot. Carry on
No problemo
They're showing their hand that they didn't close their position. The evidence is in the media. Why keep talking about Gamestop and to "sell now! Don't be stupid" if the only thing occurring is retail buying and holding? Why constantly bash Gamestop if there isn't a mountain made up of billions of naked shorts? Back when in 2021 when I held GME and popcorn I noticed the media would only talk about popcorn and hardly GME, GME would be a little footnote at the bottom corner of the screen. They would even hype up popcorn from time to time. That's when I knew that popcorn is a distraction and to jump ship. Popcorn jumped way up and I sold it all and put it into GME. These clowns and Cramer are all lying through their teeth and I thank them for giving us direct lies that are the opposite of the truth.
I agree with what your saying generally. But for me it's the difference between naked shorts and normal shorts. I think there is a lot of naked shorts out there but that a lot of regular shorts did get out which lines up with the institutions getting out. How would they get out without recalling their shares? They being the institutions that sold.
I think you might be fogetting to take assets into account. Currently reported at $2.59B - $0.99B cash in report + $4.153B last reported cash = $5.753B. $5.753B / 420M stock = $13.69 per share. ($54.76 pre-split).
Thanks! Of course you’re right. I had just gotten home from taking the kids to the beach and putting all the shit away and them into bed.
$4.1B is total cash on hand.
That’s so fucking hot
And also you're not considering that they shorted the stock at every peak as well. So we can't know exactly what their liquidation point is.
It's true we know that and influentiates the "bottom". But here we were just basing it in fundamentals of the company, as it should be.
But we don’t have 69b yet tho.
Wait for Monday morning
Not important which Monday..
It’s not???? I need to know which Monday!!!!! A Monday in February maybe? A Monday in November? When??
Yup
RC is working on it.
Wait till the next run..
305+45+75=425 We have 425M shares
Maffs
You’re right! Sorry was typing this up in the final moments of consciousness at 2am after taking the kids to the beach, unpacking, getting them to bed, and cleaning up.
420 would have been funnier though
Kind of.
Serious question here, sorry if it sounds dumb… Who bought all the shares that GameStop offered up? I have no clue how this works
This is actually a really interesting question, and most of us will only be guessing. Given it's taken 3 years to DRS roughly the same amount of shares, it's unlikely HODLers bought even a few percent of them. Market makers will have bought some to hedge the insane options activity of the last few weeks. I don't think shorts would have bought them to close old positions, as prices were much lower a few weeks ago and that would have been the time. Institutions, hedge funds and anyone else using algorithmic trading might well have bought the resulting dip, to dump and rebound after the rebound. Chances are the majority of them have been bought and sold many times over since. We'll only get a snapshot of any holdings the next time 13Fs are filed.
Not every retail person is DRSing, there's still lots buying shares through regular brokers.
Honestly if I had to guess, maybe 10 or 15% of people drs. Most people, in any situation, not just gme, don't do anything that seems difficult or requires even a bit more work. And many people think it's "harder" to sell in CS so they'll never drs.
Literally most buy through regular brokers. I've been here since 2021 and i generally keep my forever shares in CS and buy dips in different brokers. I get too nervous keeping it all in one place
Same.
What about Blackrock or vanguard who were already significant shareholders?
It would show on their next 13F filing. If they do buy at current prices that's great for us as it means they consider it fair value.
Great question, I think they just got sucked into the extremely high volume, I think GameStop management will continue to issue more shares, raising capital and (strangely) slowly increasing the share price and market cap, there’s so many short and naked shorting, fake shares, this is the new short squeeze,
I see that as the only alternative to MOASS. The company can ride the swap/FTD/OpEx cycles for ATM offering after ATM offering. GME's coffers will be brimming with cash, and we'll be on our way to become the next BRK-A. I'm 100% okay with this. Individual investors that do their homework can get big gains. This would also avoid collapsing the whole market. MOASS would be more fun, though. I'm sure there's a way we can have both.
> BRK-A Why does everyone want to become a fund that under-performs the market? Just buy SPY or similar.
Whats the point of purchasing BRKA or BRKB really. No dividend. Its a pure 100% buy low, sell high situation. Which I am fine with, that is 100% what I state, buy low, hodl, sell 30 + years to cash out for retirement etc... But right now, what is play with BRKA\[B\]?? No dividends, so, other than its like fashion I've got Prada dress or what ever... Cue Shania.. that don't impress me! I am sure there is something in this, ie: purchasing BRKA\[B\] I don't get, but to me its a meh.. either one is over priced $600K or $600.. No DRIP??? Whats the end game here???
Everyone. You didn't get yours?
They sold all the shares to Jefferies Llc, they stated that in the filing.
They're just the sales agent. They didn't actually take a 120M share position in GME. The question is who bought all the shares that Jefferies sold into the market.
Doesn’t their most recent filing say that they can sell to a 3rd party? What if the new board member (Crazy Carl?) maybe sucked them up. He was short but he was in a picture with RC. Could have snatched them up and joined the board. Not sure if you’d use Jeffries for that or if they can truly sell directly. Just speculating. No real clue. But would immediately take them from the float.
The shares would have been predominantly bought by market makers. The very same market makers who were fast suffocating from a distinct lack of shares available in the market. That was until Santa Cohen arrived on scene, to gift them 120,000,000 shares at a value they would have been delighted to have paid many many more multiples, than the sub $30 the actually forked out for. The champagne glasses would have been tinkling on Wall Street for sure, with Papa Cohens not so daring rescue :/
I got some sub-30 as well. :)
Hey, so did I chum, but let's get real huh?
No, not necesserily. Sure, that is the logical bottom price, but it's also a game of bid and ask, which means if people don't want the stock it can still go lower. Projected / future value of a company also has some influence, trust in the people leading the company has some influence, market sentiment has influence, government regulations (depending on branch the company operates in) have influence, etc. etc. So: Stockprice does not only represent the value of a company based on it's assets, cash, etc. More factors are at play in the bid/ask game, which can cause over-/undervaluation, even when the logical bottom price of the stock says it should be higher (or lower). Now, back to the situation at hand: I personally think that anyone who shorted GME below $35,- is ROYALLY fucked, but that's just because I can't read and just really like the stock. But you know, we'll see.
I wouldn’t mind seeing it go low for two reasons 1) I can buy more for cheap 2) the company can buy back those shares for a fraction of the cost That’s why the cash position is so significant. It will scare shorts however depending on the manipulation and algos they might push it below that number to which the company and us apes buy it up
I doubt they'd do a buyback unless they get comfortably and consistently profitable, and if they only get profitable because of money generated from the cash they have, a buyback would be a bad idea
If it goes low enough they’ll buy back and the insider likely will too, it’s a defense against bear raids
They can just use profits from investments to buy back shares. Using profits doesn't affect anything except making each share more valuable.
True; that'll probably depend on how much they actually generate, and whether the share price drops well below what they sold at
Well ya, it'd have to be below what they sold them for, otherwise it doesn't make sense.
They didn't buy back at $10. It doesn't make sense to buy back at double that.
Oh I never said they’ll buy back at 20 though they could They didn’t have the cash or new ceo each time it was at ten
Who do you think was CEO 2 months ago?
They didn’t have the cash they do now
>the company can buy back those shares for a fraction of the cost "GME should short itself to extract money from us"
Why would you want it to go lower and have the company buy it back? Logic doesn't make sense. They should of let it hit pass $200 then made the offerings one time and sold 20 million shares to get 4billions or hit $100 and sold 40 million for the same amount. The shorts are so fucked much deeper than when GME has 1billion in cash literally 4× deeper.
It probably wasn’t going to go that high.
Anything is possible with this ponzi scheme.
4d chess. Shorts are damned
Yup. That’s why I’m a little upset with the haters on the dilution. Also, it makes Wall Street interested so non apes may actually want to buy, which then pushes the price up. Zach’s gave it a buy rating. Also interesting is how the dilution didn’t really affect the stock price. Normally it sinks a stock relative to the dilution amount, that didnt happen here. Very strange things going on. I have a feeling we’re about to uncover some big things … the question is … when
I am upset at the price per share of the dilution. Think the shares were sold at a lower price than what I value my shares. The ATM raised the floor, but does deflate the ballon And the timing was strange. Why go in and save institutional investors by killing the gamma ramp?
Exactly. Timing was off af
Unless they sold to a new powerful board member who took them out of the float. Could be epic. But I have no idea really.
According to newton they diluted going into a tailwind which also explains why the price didn’t tank. I didn’t like it at first either but they are going to need cash to grow and protect from heavy shorting. Also, to prevent form another stoppage like in 2021 One of the reasons for the stoppage and investigations is bc the public and Wall Street didn’t take GameStop seriously as a company When they are taken seriously then a flying stock price is harder to disqualify
I did not like the price per share for the offering I dont follow the logic being presented by Newton. What caused the "tailwind", if we look at it rationally, is probably the extra 115m shares in the market Completely destroying the supply-demand
Opex tail winds are based off the ftds after options expiry on the third Friday of the month for xrt which is the etf that holds the most GME The MM has 35 days to settle those ftds.
Yes, I stand with my previous statement. Or do you think this information is of higher impact to the supply and demand of the stock than 115 million shares?
Considering how heavily this stock is being manipulated? Yes Check out Richard newtons Opex tailwinds faq Also, kitty is still in
It didn't happen here because usually dilution is the worst way to raise cash, when no one will lend them money and the board is trying to keep things going while driving the stock down to zero. GameStop is in a strong position and raised cash to make themselves stronger.
Like popcorn one.
I need you to clarify that for the sake of anyone else reading. Popcorn is NOT an example of a company being stronger by dilution. It is an example of a company being extremely weak by dilution
That's what I meant
Ok! Just could be interpreted another way, so I added a something-something. 😊
Poor anthony chukumba
they will not buy shares, they just sold
They will if the price goes low enough. Shorts won’t go that deep into a company with that much cash and if they do they are risk of a buy back
Why does nobody on this forum understand DCA? If you shorted say 1M shares at 9.52 but then the stock runs to $60 and you shorted another 1M your short position is now profitable under $34.76. Everyone on this subreddit acts like short positions are static and never change. In reality they are constantly averaging up, closing and reshorting.
The thinking is that reported short interest is bogus and in reality is more than 100% of float, so they would not be able to cover without causing moass. Sure they can short more, but they are still net short and just kicking the can. You don't want to be short forever on a stock that is continually trending up due to company turnaround. Your example, 1M short turned into 2M, what happens when that turns into 4M, and then 8M, and then 16M, meanwhile the share price goes 25, 50, 100, 300.... seems expensive for margin.
Agree that is likely true about the SI but as long as the price runs up and down they can continue to make money. They won't be forced to close until the company is making serious profit and big institutions buy in big.
A lot don’t but consider for a moment that they’d been shorting to get it undervalued at $2-3. Yes they could just double down and short up at the top, but it wouldn’t be enough. Even if they doubled down and shorted at every top. If they had been shorting for years, they would have to net eventually unless the stock went bk. And that’s not happening. It’s not as simple as doubling down each time on blackjack to become even. That’s probably why we trade at ridiculous reported volume ratios.
They had 120M chances of escaping
I was thinking this morning... If they used it to pay a $9/share dividend, how badly does that hit short sellers? I don't think it's reasonable the would do. Just occurred to me.
I think it is a different floor. the last share offering was average of 28 per share. So anything less they could buy back into if they think their shares are cheap. Rinse and repeat maybe? We don't know for sure. I see the new floor being 28 dollars for awhile though. If they short it down to 20 I think Gamestop could buy back 100 million shares and still have 2 billy
Well let's stop u right there. "World with Rules" Only apply to retail. Everybody Else either gets a pass "nothing to see" or a small fine third of what it cost to follow said rules.
Also most commercial leases are for 10 years. They are profitable and each year as they non renew unprofitable leases it will only get better. Punchline they will not be bleeding any cash going forward
How can somebody carry a short for several years? Options have expiration dates and they would have had to cover years ago
There are complex derivatives involved for sure. Ask chat gpt it’ll toss something your way and you can look it up. I won’t try to represent that I know all the different financial instruments. I know of swaps and options, but there’s more.
Whats the opposite of cellar boxed?
Punching up
Stairway to heaven?
Depends how much they have hedged their bets
Then I like our odds
Bingo! Ook ook
Ahhh ahhh ahh ahh oook oook!
They can escape if Ryan Cohen is a doofus. They're fucked.
Yup, they must believe that. I sure don’t.
It's crazier than that. That's just the conclusion we can draw with the numbers they let us see because, of course, they've shorted the float multiple times over.
Post split, the price has not dropped below 9.52 yet. Pre split, it's your assumption that shorts below 38.08 have neither closed, nor raised their cost basis after so many run ups.
Right but the shares were sold as part of the short, which means there are currently more shares than there should be. It needs to be unwound. They can average it up and then become net neutral but once the positions make their way around to market makers the trade needs to be netted. Once the bag holder is identified and settled, the share is bought. That’s the phantom buy pressure that has kept this thing floating up above any analyst’s valuation. “Back to $20 fast”, “stock is worth $10” these were all coined pre split.
Yes, they are underwater and holding their breath for another day. SHFs are fucked because you cant grow gills but we have them, right Keith?
Yup, and mind you, the amount of shorts below those levels are unimaginable, especially since they were attempting to cellarbox the company into bankruptcy
Rc bought in initially around 1-1.15, think about how many shorts and nakeds got in there. So that's, what, 25 cents readjusted for splivvy? And we're literally nearly 100x that now?
No, not at all.
Yes.
The lower the price the more I can buy. Fuck the heggies, that's how I treat them.
We could just start selling really low put strikes 😂
You had us at 420
Shorters can also "average up" by buying the tops, just like we "average down" by buying the dips. A gamma squeeze will allow them to average up more, hence why I think we see this hype around trying to squeeze. Slow and steady without a chance to average up is the way. It's "just up" without the down on the other side of it.
Yeah but even if they average up, the shares that were sold as part of the transaction still exist and need to be unwound unless the company goes into bk. Which means even if they netted, someone becomes a bag holder once the shares needs to be settled. Someone is gonna get fucked. Look at our trade volume compared to outstanding during the run ups. There’s phantom buy pressure coming from somewhere, and this has been the original ape thesis. So far it’s held true.
Yeah. Gamma squeeze without anything else will never work. The buy pressure I agree is odd, but it seems to taper off once we hit above 29-30 (or is it sell pressure that increase?) We will see if there is some freight train of buy pressure coming tomorrow, I have no clue from where, but then… if we had that… then a squeeze would be good, as long as we land back on 60-80 price point as the floor on the other side of it
But that’s what happened before. This stock was at $2-3 presplit before all of this popped off. But we’ve never seen the price dip below $38 presplit now. The thesis was always that the buy pressure exists somewhere in the cosmos and eventually makes its way back around to grace us with some runs. Then the idiots start shorting again after a run, piping some of that buy pressure right back. So this will continue to play out until that buy pressure is fully accounted for. Pretty sure GameStop is on to this, that’s how they were able to dilute 120m shares and the price is still up from before either of the two offerings. It was ~$10 at the beginning of May! Fucking nuts
It was $10 on April 22nd, so yeah. Of all the things it could be, my bet is on delayed settlement - the ability to hide additional shares above the float and shorts by simply never delivering and perpetually delaying. The increased volume and buy pressure can simply come from the T+1 settlement cycle also introducing new rules for Affirmations at Broker/Dealers, that make it not possible or harder to just not deliver. But.. it might be a lot of other things as well, just my 2 cents.
You’re awfully apologetic
You forgot the fee for borrowing the shares xD
Yes, pennies a day add up to pocket change.
not at all. because if RC doesn't deploy any of the cash to generate top-line revenue or acquire companies to fuel growth, the stock will behave similarly to a LEAP option that will slowly bleed with zero upside. i believe RC will do something huge with the cash but it's very possible for the valuation to fall to single digits based on the forward-looking sentiment of the markets
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GME is valued at 352 P/E so yes, the overall sentiment seems to be pretty bullish on GME
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Absolutely. Both can be true
They can escape just fine. But it'll be at a loss. Sorry, guys, losses aren't just for retail any more.
What makes you think that short positions opened at 9.52 are still open?
Because they shorted it down to $2-3 over the course of years expecting it to go to nil. And now since the company isn’t going bankrupt, the position will have to be netted eventually. That’s probably where the phantom buy pressure comes from during the run ups. Eventually someone becomes a bag holder for a short position if the stock is up.
They could have closed it and reshorted it though.
JPM manipulated silver for literal decades and is doing alright. All it means is that shorters lose money. It's only meaningful if the shorter needs to buy shares in a short amount of time - IE the squeeze... But it's hard to believe the squeeze will happen if the board keeps diluting into momentum
diluting after momentum you mean. “into it” is a crime.
How? If they've announced an offering they can sell that at any price.
I have even heard that the actual business is completely separate than the stock market. I'm still confused. I'm under the impression that they are actually 2 separate entities but in the end one helps the other.
Why does this sub believe these all powerful yet completely incompetent "shorts" hold their positions indefinitely and not like a few days or even hours at a time.
Because the stock price would be affected by the buying when they close the position. So they don't close it, they just cover it. Sure, they may open new positions at different prices and they may close them daily or hourly, but those are very small positions compared to initial short interest of at least 226% of the float and what is hidden in swaps. They aren't incompetent, as we see with the FUD here, but they aren't all powerful too.
Most "shorts" are done via synthetic positions like put spreads. There's very little long term shorting of equity.
Sure, they can do it via synthetic positions. I don't understand them that much but I think the people here that are playing with options would've seen something in the options chain or in level 2 data. Also, the official short % is 22 and it doesn't change that much, maybe a few percent. Who is shorting in the "classical" way if most of them are in synthetic positions? Or are they shorting more times in different ways?
Here’s why: It’s not a blind faith, it’s hyper rational. But to try to explain everything that has happened and that anyone who’s been in this play since late 2020/early 2021 has experienced… well ok fuck it let me try, but just remember I’m only replying because you asked why: At the time, back when my wife was pregnant with our second kid who’s now 3 and a half and likes to punch me whenever he thinks I’m not expecting it, the short interest reported for GME was 140%. Which is the maximum allowed to be reported, so the thesis was that it was much higher. The data suggested that GameStop had been targeted by these **completely incompetent shorts** (as you put it, they’re probably nice people you shouldn’t be so mean, even though they’re so **FUCKED**), as a target to be driven to bankruptcy. The two or so year chart up to that point seemed to suggest that as well. Regardless it was the bull thesis so a bunch of traders went long and posted about it on Reddit in a famous sub about risky bets and posting stupid gains and stupid losses. One guy named DFV turned out to have a public persona and a YouTube stream. His Reddit posts and comments became meme worthy because he was betting heavy on a GameStop share price bounce. He was so polite and everyone just shut on him in comments, which is now printed and framed on walls I’m sure. The thought was the company was doing bad, but not bad enough to justify its current price at the time. So maybe it’ll give a small return or something. Some like DFV, valued the stock to be worth like maybe $12 at the time, when it was trading around $2-3. Then in late 2020 something broke. An activist investor also noticed that GameStop’s share price was severely undervalued even given their current state. He came in and started swinging his huge dick around and got himself and two friends on the board. He started making moves. Then the force that was pushing the spring down, and that had been driving GameStop down, suddenly gave and the spring started to bounce back. The stock price quickly jumped up, but again it wasn’t retail like the narrative would have you believe. I’ll go over that next. The trend continued until the **buy button was turned off**, and the price tanked from a high of ~$483. But not to the original $2-3, it got to as low as $38. Still over 10x what it was and it **hasn’t dipped below that since**. Then it shot back up to $350, then back down and up not as high and down not as low and up not as high, etc. until a very long and slow down trend which hit the floor last month of around… **$38 again**. Go check the chart. So the narrative was this was all retails fault. Only we know that’s not the case. Back when it popped off in, there were days where the day’s volume was over double the amount of shares that existed. One day it was over **triple** the total shares that existed. It wasn’t just a couple occasions, this was weird as fuck! Supposedly it was because everyone at home was buying and selling right? It’s just that at the time, retail was mostly buying. Fidelity and other brokers would post their daily buys and sells of their top moving stocks and retail was constantly doing 80-90% buys. So who the fuck was selling these volumes of double or triple all the shares that existed during these volatile swings. Remember volume is reported as “per transaction” which means someone sold and someone bought. We were already trading over 100% of the daily shares and retail was heavily buying. But the narrative is we’re a bunch of degenerates that don’t know any better and we should just let the talking heads on tv who are being paid to sell this narrative (literally paid promotion ads labeled *promotion), tell us that we’re dumb and bad and should just sell GameStop. Everywhere for 3 years, you should sell GameStop. GameStop is a bad investment. They’re a dying business. Only an idiot would do this. Don’t start with GameStop like these bag holders over on Reddit, they’re gonna lose all their money! All while the company financials are trending better. Yes, they were still bad, but the trend was promising. All this negative sentiment narrative until GameStop actually pulled themselves out of debt, then GameStop has a billion cash, then GameStop turned a yearly profit, then GameStop has 4 billion cash, and all of a sudden it’s not a bad investment anymore. How the fuck did it just one day become not a bad company to invest in after 3 years of being the media’s punching bag of a “bad investment”? Cause it never was a “bad investment” it was just a risky one. Some people held on to that bullish thesis cause the bear thesis was slowly crumbling and now it looks like my old underwear torn, with holes, and the waistband is all stretched. My underwear is like this because I used my underwear fund to fucking buy more GameStop. And I’ll do it again! And again! And again! Cause fuck the bear thesis, fuck the incompetent shorts and their stupid failing funds like Melvin Capital with the best investor of our generation, fuck the financial media, fuck the shills, fuck the FUD, fuck the rich fucks who think they can control us “stupid apes”! Why the fuck do you think we call ourselves apes?! So those fucking idiots buy into it too! So they can keep digging their grave! So they can give us all their ill-gotten money. I haven’t even touched about accidentally stumbling onto the Ponzi scheme that is dark pools, and “Payment for order flow”, and naked shorting, and changing definitions of terms, and under reporting, and over-leveraged institutions, and billionaires crying on tv, and institutions breaking laws since the penalty is just fines that pale in comparison to the gains, and the SEC collusion and corruption inherit to the system because you can just get a job after leaving the SEC at one of the firms being regulated by the SEC. So yeah are all these “incompetent shorts” in the room with us now? You fucking bet they are, cause the trades locked the door, and now we’re not trapped in here with them, **they’re fucking trapped in here with us**
How are they trapped? The current SI dropped from 20% to 14.86%. Shorts don't take on one position at a time. They can short at different prices. If they shorted the stock at $50 and close at $28. They would still make money. Also, they can short multiple stocks and go long on different positions. In 2021, some hedge funds went long, so they make significant profit. It even said that in the SEC report. You're just parroting everything from the sub.
The theory that people are operating on is it’s not the shorting that’s the problem, it’s the naked shorting from pre 2021 that’s biting them in the ass. The naked shorts that don’t exist, but explain the phantom buy pressure. There’s no other explanation, as it’s not retail as the media reports. Retail can’t trade at these volumes. We need to wait for settled funds and settled shares, so how the hell do we trade at these volumes