Economy GameStop short squeeze: Stock dividend on the table for summer!

[rob mafia]

My OP was to alert ppl to the possibility of the upcoming stock dividend, which is very clearly bullish (Apeish) news. Unless, of course, you have an extreme grudge against GameStop, but I digress...

Lets say you take the self reported short interest on good faith and you believe it’s around 20 percent. I believe it’s a lot more, but fine lets say it’s 20 percent for now.

You and others have stated that a stock split doesn’t do anything for market cap, except maybe sparking a small amount of fomo due to the perceived increased affordability of a share.

But a split in the form of a stock DIVIDEND is a totally different animal on a highly shorted stock. You say 20 percent is not high? (Forget that SI higher than even 10 percent is considered highly shorted.)

Lets look at the Tesla squeeze in 2020.
The SI was listed at around 18 percent, very similar to GME.

August 11: They officially vote on and announce a 5:1 stock dividend. Tesla is trading at $1400
By August 28, it had touched a high of over $2300. Shorts are running for the exit.
August 31: Stock split. SP is now $442.
By the end of 2020, with many shorts effectively shaken off, Tesla’s price sees a high of over $700 ($3500 pre split) and continues running into the new year.

Look for GME’s price to ramp up closer to the vote date, likely June or July. When the dividend is announced for an official date, that’s when things get really interesting. Should see significant price jumps pre/post split as shorts cover or close.

shorts, shorts, shorts. you seriously believe that the hedgie bogeyman never closed their short positions since 1/2021, but they'd now magically care to close them.

lolz @ bringing tesla into this. again. for no apparent reason. again.

 

[mmaElite53]

https://abcnews.go.com/amp/Business...harged-massive-stock-market/story?id=84344521

Ken Griffin upon hearing what Bill Hwang is being charged with:

 

[Madmick]

Gonna cross-post this to three different threads as a public service.
GameStop reports wider loss, announces partnership with crypto exchange FTX

GameStop said Wednesday that quarterly sales declined and losses widened, as it burned through cash and inventory swelled.

The video game retailer also disclosed a new partnership with crypto exchange FTX.

Shares of the company rose about 10% in after hours trading.

In the second fiscal quarter ended July 30, the company’s total sales dropped to $1.14 billion from $1.18 billion in the year-ago period. Its losses widened to $108.7 million, or 36 cents per share, compared with a loss of $61.6 million, or 21 cents, a year prior.

GameStop’s results cannot be compared with estimates because too few analysts cover the company. It did not provide a financial outlook and hasn’t provided one since the start of the pandemic.

The brick-and-mortar retailer is trying to adapt its business to a digital world. It’s gotten new leadership, including board chair Ryan Cohen, the founder of Chewy and former activist investor for Bed Bath & Beyond, and CEO Matt Furlong, an Amazon veteran. It’s also looked to new ways to make money, including nonfungible tokens.

But the company has struggled to drive profits, leading it to trim costs and shake up leadership. Last month, it fired chief financial officer Mike Recupero and laid off employees across departments.

I still don't fathom how this became the hill for the Occupy Wall Street crowd to die on. Gamestop continues to hemorrhage money, but because it leans into the latest fad conjob cooked up by scheming suits, NFTs, while marrying itself to crypto, its stock somehow magically manages to go up despite posting a real loss of 1.5% of its net stock worth in a single quarter. Oh, but they hired a guy from Bed, Bath, and Beyond!! You know, because they're doing so great. All is well.

Also, yeah, you're reading that right. $0.36 is 1.5% of a share, right now. It's at $24.04, presently. Remember how crazy this got? How stupid? When this stock went above $500 per share in intraday trading? Meanwhile, that very week that things took off, in January 2021, I recalled reading a Wall Street Journal article where a longtime analyst who had tracked Gamestop for years pegged its truth worth around $16/share (lower than where it started). Looks like it needs to see a few more quarters like this to get there.

How many times is this corpse going to get saved? First it was Microsoft, and then it was activist investors. This is twice in the past 3 years alone. What's funniest is the people most flummoxed by the way in which this company was suddenly championed are the people who are supposed to be its customers: gamers. You could have asked any gamer in the last five years what they thought of Gamestop's business prospects, and they would have scoffed. You probably would have heard, "Who shops at Gamestop?" Like so...
Gamestop is going out of business.

I'm always amazed every time I'm reminded this company is still in business.

As relevant as Blockbuster.

Go ahead and peruse that thread if you want to see how gamers reacted to that headline back in 2019.

 

[Staph infection]

Gonna cross-post this to three different threads as a public service.
GameStop reports wider loss, announces partnership with crypto exchange FTX

I still don't fathom how this became the hill for the Occupy Wall Street crowd to die on. Gamestop continues to hemorrhage money, but because it leans into the latest fad conjob cooked up by scheming suits, NFTs, while marrying itself to crypto, its stock somehow magically manages to go up despite posting a real loss of 1.5% of its net stock worth in a single quarter. Oh, but they hired a guy from Bed, Bath, and Beyond!! You know, because they're doing so great. All is well.

Also, yeah, you're reading that right. $0.36 is 1.5% of a share, right now. It's at $24.04, presently. Remember how crazy this got? How stupid? When this stock went above $500 per share in intraday trading? Meanwhile, that very week that things took off, in January 2021, I recalled reading a Wall Street Journal article where a longtime analyst who had tracked Gamestop for years pegged its truth worth around $16/share (lower than where it started). Looks like it needs to see a few more quarters like this to get there.

How many times is this corpse going to get saved? First it was Microsoft, and then it was activist investors. This is twice in the past 3 years alone. What's funniest is the people most flummoxed by the way in which this company was suddenly championed are the people who are supposed to be its customers: gamers. You could have asked any gamer in the last five years what they thought of Gamestop's business prospects, and they would have scoffed. You probably would have heard, "Who shops at Gamestop?" Like so...
Gamestop is going out of business.

Go ahead and peruse that thread if you want to see how gamers reacted to that headline back in 2019.

Gamestop needs to just die. There business model has gotten worse with each year. Selling plushies, refurb phones and gaming computers was not smart of them.

 

[rob mafia]

Gamestop needs to just die. There business model has gotten worse with each year. Selling plushies, refurb phones and gaming computers was not smart of them.

...wait til you see what they're selling now.

eta: obviously, this thread aged like milk. if only someone could have foreseen that this would pump & dump again.

 

[Blayt7hh]

So wait, did @Wadtucket make a bunch on GameStop stocks?

 

[Blayt7hh]

Gamestop needs to just die. There business model has gotten worse with each year. Selling plushies, refurb phones and gaming computers was not smart of them.

I finally got a ps5 off Sonys site the other day and I was out doing something else and was like I should swing into GameStop and check out the ps5 shit. They didn’t have anything. It was a tiny section on the wall. The store is mostly filled with garbage.

I honestly can’t remember the last time I went into a GameStop before last week. Might have been precovid…

 

[Cuauhtemoc]

Gme is bad. Hedge funds shorted it. People realized they could fuck them up by buying the stock. A few people made tons of money with leveraged long positions. Everybody else lost money, the hedge funds and the retail investors.
Because GME is bad.