Bob Sacamano
Footballguy
They should have scheduled the meeting for 4:20 and things would have gone totally different.
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Stock Thread (29 Viewers)
- Thread starter St. Louis Bob
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JB Breakfast Club
Footballguy
What is the SEC looking for? From Gamestop: "the retailer said it received a request from the Securities and Exchange Commission on May 26 for a "voluntary production of documents" linked to an ongoing investigation concerning "trading activity".
"We are in the process of reviewing the request and producing the requested documents and intend to cooperate fully with the SEC Staff regarding this matter," GameStop said. "This inquiry is not expected to adversely impact us."
"We are in the process of reviewing the request and producing the requested documents and intend to cooperate fully with the SEC Staff regarding this matter," GameStop said. "This inquiry is not expected to adversely impact us."
JB Breakfast Club
Footballguy
I almost picked up some GME AH shares in the 260s. I think it rebounds to 300 quickly with plenty of gamma squeezing to do. The pattern with the stonks has been dipping on share issue announcements and ripping once they are done.
According to this article, it seems like potential multiple up to 5M share offerings, so about 7% dilution every so often when they feel like it:
https://www.investors.com/news/gme-stock-gamestop-earnings-q1-2021/?src=A00220
The company also said it may sell up to 5 million shares from time to time, in "at-the-market" offerings.
Bob Sacamano
Footballguy
They beat top line expectations. That's always a good start. YoY rev growth of 25% is good, but that prior year number is heart of pandemic. I was curious how it compares to the same quarter previous years.
'21 - $1.28B
'20 - $1.02B
'19 - $1.54B
'18 - $1.78B
'17 - $2.04B
Less encouraging.
Did anybody listen to the call? Anything they emphasized about business performance to feel good about?
Caveman33
Footballguy
They are almost certainly looking into collusion on the part of pumpers. It probably won't amount to anything. The hodlers are predictably spinning this to mean evil shorts are being investigated. I think you are right that shares will rebound to 300 at some point.
Bob Sacamano
Footballguy
That is the definition of insanity when it comes to investing. Secondary offerings for stocks that just went public is very common, but well established companies that aren’t issuing stock for acquisitions, is typically not a good thing. When an established company is making money, you want them to buy back shares not dilute. GME is definitely not an IPO company.
Oh, I agree. They know the price is ridiculous and the best part is retail investors are actually handling over their money out of the goodness of their hearts, bless them.
Also, more importantly, two new consoles were introduced in Q4. That has way more to do with the growth than the business doing well. Due to the sell outs, people were buying consoles from anywhere they had them and that very likely rolled over into Q1.
Q3 revenue was about $1B, Q4 was over $2B and Q1 was $1.28B. The release of new consoles in Q4 was the only positive impact.
I did love how Ryan Cohen basically said that they don’t want to give away any secret plans they’re hatching up. Easy way to not say anything about the future that could ding the stock while they try to suck as much out of their stock offerings as they can.
Caveman33
Footballguy
https://finance.yahoo.com/news/u-sec-chair-signals-sweeping-170716701.html
I was likely very wrong with my previous assumption. I do think the brokers and exchanges screw us over on execution prices. Certainly don't like reading stories like this when I am short. Just more fuel for the hodlers fire.
Capella
Footballguy
Bob Sacamano
Footballguy
Desert_Power
Footballguy
It's really only back to its SPAC deal value. Still, not sure how much is being driven by the WSBs crew....may shed some to buy back cheaper if it has another day like this.
wilked
Footballguy
I got a buddy we nicknamed “almost”. Classic on the stock group text we got. “I almost grabbed 20 shares of…”
JB Breakfast Club
Footballguy
David Dodds
Administrator
I remain extremely bullish. I already have a zillion shares so I will not be buying more.
Love the CEO and CFO hires.
Love that they smashed all the estimates and are predicting May up 27% year over year as well.
The apes own the float despite what is being said. The laws are written that really handcuff announcing more votes than the float (if the company wants to proceed as a company - ie announce Ryan Cohen as the chairman and announce their CEO/CFO). There is a lot written about it on Reddit.
The media can keep saying there is no plan to turn this company around, but Ryan Cohen continues to get top notch talent for stock compensation only. I am guessing these hires have heard the plan. At Chewy, Ryan never announced a plan either, but his team executed his vision. I expect the same strategy at GameStop.
I still expect the MOASS, but if it never comes, I am content in watching what this dream team builds. Ryan Cohen owns 9 million shares and is drawing no salary. I think he will be highly motivated to return shareholder value.
On 3/30/20, this stock traded at $2.80. It is up 10,000% in 15 months. I can give Ryan another 15 months to reassess my investment.
Diamond hands forged in the process. I like the stock.
Love the CEO and CFO hires.
Love that they smashed all the estimates and are predicting May up 27% year over year as well.
The apes own the float despite what is being said. The laws are written that really handcuff announcing more votes than the float (if the company wants to proceed as a company - ie announce Ryan Cohen as the chairman and announce their CEO/CFO). There is a lot written about it on Reddit.
The media can keep saying there is no plan to turn this company around, but Ryan Cohen continues to get top notch talent for stock compensation only. I am guessing these hires have heard the plan. At Chewy, Ryan never announced a plan either, but his team executed his vision. I expect the same strategy at GameStop.
I still expect the MOASS, but if it never comes, I am content in watching what this dream team builds. Ryan Cohen owns 9 million shares and is drawing no salary. I think he will be highly motivated to return shareholder value.
On 3/30/20, this stock traded at $2.80. It is up 10,000% in 15 months. I can give Ryan another 15 months to reassess my investment.
Diamond hands forged in the process. I like the stock.
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matuski
Footballguy
I love the emotional/meme argument backed up by the illusion of real business acumen.
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David Dodds
Administrator
I love my bank account that keeps growing with this so called meme stock.
MEME - Making Everyone Money Easily.
Just Buy and Hold and let the business acumen of Ryan Cohen do the rest.
kevzilla
Footballguy
How come you haven't mentioned those laws for the last several weeks, as you told us repeatedly that there were all kinds of shenanigans that would be exposed today? Followup: how is this any different for that Qanon bilgewater?
I’m so tempted to sell some Amazon and buy some GME and AMC and end this insanity once and for all.
steelerfan1
Footballguy
Actually thank you @Whyatt. Honestly I couldn't recall the spelling of your name and keep trying to shove a N into it.
McBokonon
Footballguy
I just can’t understand why you and other GME conspirators aren’t just happy embracing this price action without attaching all of the other nonsense to it.
Massive share recall! (Oops, that’s not how that works). No, wait, they bought a defunct toy store - you can tell from this webpage symbol! (no, wait, that symbol is on many unrelated webpages.) They’re going to expose more votes than shares even though that makes zero logistical sense! (no, wait, there’s some laws all of a sudden I never mentioned before or something).
ICE CREAM CONE!!!
matuski
Footballguy
No I get it, you have done well. So have I on a small scale.
But everyone thinks they are a genius and give credit to their own prowess when they are ahead in vegas as well.
Just don't pretend anything about this is tied to AMC/GME/DOG/whatever leadership, acumen, or plan, or "vision" - it simply isn't. Which kind of pulls the rug out from any attempt at real "analysis".....
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matuski
Footballguy
Charlie Harper
Footballguy
So 55 million votes isn't more than 70 million shares...but it still doesn't rule out over shorting. We know some institutions didn't vote, some retail couldn't vote, and some retail just didn't vote. I mean for presidential elections only half the country votes? So I do still think retail still owns the float.
I am worried about the changing goalposts though and the fact that they mentioned selling more shares. If this gets into $300 again I may sell 1/2 of my free roll.
I am worried about the changing goalposts though and the fact that they mentioned selling more shares. If this gets into $300 again I may sell 1/2 of my free roll.
If you don’t attach nonsense to it, then the scheme doesn’t work. At some point fundamentals will come back and there will be bag holders but you can’t have these types of price actions when short volume isn’t close to what it was in January. The only way you get this price action is to draw in tons of people who need a reason to feel like they are part of the greater good.
It’s kind of like a social media Ponzi scheme. It’s been orchestrated to a T and it requires people to believe in something more and Dodds is providing that. How many people has he pulled in just from this thread.
On the one hand, it’s annoying to those of us who want to invest and hear about companies who are growing or doing something that could net great returns. On the other hand, it is really a great show. I’m torn between watching something interesting and maybe a bit of the car accident slower down because we know a company like AMC is going to probably lose 90% of its value and the people mainly holding shares now probably didn’t buy it at $5-10 a share.
The gamma squeeze is a con. The short % is in the 15-20% of shares range and that’s been reported tons of times recently. That’s not a huge amount considering how high the stock price is compared to where analysts think it should be.
It’s your money but if I was free rolling around $300, I’d bank it and find something else I could sink it into for long term gains (I know that’s grandparent investing). The stock isn’t worth close to $300 a share so it’ll be luck that you get a higher price. Good luck.
McBokonon
Footballguy
And they’re doing it “at the market” which likely means there’s no institutional interest in any offering because institutions don’t typically invest in secondary offerings from declining companies.
There’s no institution buying at $300 a share. The retail investor (not all) will be the big losers in this game. The early adopter “retail” investors that pushed the meme stocks will make out like bandits and the institutional holders that already had skin in the game will as well. Some of those whales (like on AMC) have already bailed so the huge volume from retail investors is driving the prices and filling the dilution orders. It’s truly incredible that they don’t see it happening. Again, that’s what the nonsense is for and it’s working.
JB Breakfast Club
Footballguy
Gamma squeeze is about the options market though, right? Pushing far out of money options into the money to force covering, which is more buying pressure to the next level.
I know the stonks aren't worth 300/50, but my read is that they are still capable of popping from 3 things: gamma, short squeeze, and FOMO buying. However, I agree that those wells seem to be drying up. There's too much distraction going to things like CLOV.
Very long-term, I do really like Gamestop's potential with this management team and the amount of cash they will have on hand. I'll keep it on my watch list even after I sell.
Wild Young Billy
A Crazy Cat
Todem
Footballguy
Love that stock “long” term. I would look to buy or add on weakness. They are lagging this year. They probably will lag next year. But we are not thinking about the second half of 2021 or even 2022 with this stock. We are thinking 5-7-10 years out. They are content kings.
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I think so. I think the idea, which might be considered manipulation, was that if you could get enough people to push the price up that it could trigger call options to hit. The fuzzier part was that I think there was this synthetic share topic floating around that meant that those call triggers would force people with synthetic/naked options would be forced to buy shares to fulfill the options and that it would spin the shares up and up.
I have no clue on GME’s long term potential, but the problem for long term investors is that it’s priced to perfection. Revenue overall is declining, regardless of how you read the YoY because you still have trouble finding the new consoles so their revenue in Q4 and Q1 was directly tied to being a vendor selling hot consoles. That’s not an every year occurrence so their revenue is still on track for around $4-5B which is half of what it was a few years ago. You see topics about how people will want to be in person, tactile, etc. but they were pretty clear that their focus is online and the only reason their loss is less is because they continue to close stores.
If I were to value their future, I’m not going to use a fad like NFTs (NBA top shots thread seems to indicate a fad) to do that but I’d use BestBuy as a retailer turn around. They are pushing online a lot and still have a physical presence. They’ve had a great stock turn around the past 5 years and are worth $28B. Their revenue has increased and their holiday quarter also had a huge bump (I’m sure some was console related). Their revenues are at $50B and their are profitable but they are valued as a retailer so only $28B. GME has declining revenue of $4-5B and is worth $20B. If GME was profitable and growing (real, not new console launch growth), their revenue would value them at 10-15% of their current valuation and that’s ignoring the risk that it hasn’t fully turned around.
JAA
Footballguy
Got out of all my $GME. Made some money, certainly no moon shot.
I've lost my patience with the
. I had over 10% of my TD account in it.
Ill consider buying some dips, but with all the meme-craziness Im glad I didnt lose out.
FWIW I did a lot better with BB than GME. I had sell orders with BB which is what I should have done with GME. Lesson learned.
I've lost my patience with the
. I had over 10% of my TD account in it.Ill consider buying some dips, but with all the meme-craziness Im glad I didnt lose out.
FWIW I did a lot better with BB than GME. I had sell orders with BB which is what I should have done with GME. Lesson learned.
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Bob Sacamano
Footballguy
Pretty sure I was just told recently that institutions own >>>> 100% of outstanding shares, no matter what reporting on the matter says. So who REALLY owns it?
Dwayne Hoover
Footballguy
Would be great if people could take their profits here and walk home winners. I agree that a day of reckoning is coming but definitely your money.
There was a lot of pure fantasy involved here. Didn't mean that money didn't get made but definitely not in the way it was described.
There was a lot of pure fantasy involved here. Didn't mean that money didn't get made but definitely not in the way it was described.
Capella
Footballguy
ConstruxBoy
Kate's Daddy
Dwayne Hoover
Footballguy
https://seekingalpha.com/news/3704942-sea-upgraded-at-bofa-on-shopee-free-fall-strength?utm_source=mystocksportfolio.app&utm_medium=referral
Bank of America upgrades SE to buy with target price of $340. Yes, please. That would be a 350% growth for my investment.
Bank of America upgrades SE to buy with target price of $340. Yes, please. That would be a 350% growth for my investment.
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JB Breakfast Club
Footballguy
Really like seeing VGAC/23andME pick up steam ahead of next week's conversion.
McBokonon
Footballguy
There's also an article out that they're expanding to Chile. And look at this chart from that BofA upgrade you posted showing Shopee growth in Brazil.
I love these guys,
Bob Sacamano
Footballguy
It's not necessarily. Just another, "this is going to be the major catalyst that takes it to $1k/sh or more" moment that didn't pan out.
Dwayne Hoover
Footballguy
Hey, that’s a bit harsh. I’d say The CYDY of meme stocks is AMC. I mean Nader would definitely have thought about quintupling the outstanding shares, definitely been fine getting cash from a investor and let them sell those shares immediately and he absolutely would have thrown out a free popcorn offer if people buy the stock.
David Dodds
Administrator
Well I guess I was destined to buy more GME afterall. I never thought I would see 240 again with max pain at 250. OBV has stayed the same. Loving me some dip.
