GameStop - GME - Share Chat

So you need me to Google “chairman short sellers” for you?

I haven’t said anything about the ‘charts’ - my point was regardless of any stock you can tell someone’s opinion on short selling based on their position within the company being shorted.

Short and distort. Anyway you can’t tell who’s shorting what these days. Big problem. Look at lme. Markets are a bit broken bruv.

You can’t tell who’s buying either.

Fraud aside, shorting a stock enables a trade to happen when not everyone is looking for ‘the next fool’ to pay a higher price.

There are plenty of examples of shorting working well. Take Nikola - Hindenburg uncovered fraud and shorting the stock enabled them to do this. Guess who came out hating them - people with a financial interest in Nikola.

Back to GME -

Has anyone done an analysis of the revenue potential from the NFT marketplace. How will it compare to OpenSea?

1 Like

I would find out but I’m too busy getting drunk.

2 Likes

Kinda feel in No Man’s Land here between two deeply entrenched forces, being a long $GME investor who’s made a bit of relatively daft money on it so far but hasn’t ever really exited their position - I’m only ever ‘diamondhands’ on stocks when I’m in the red, hahaha; I’m watching the price rise with great interest currently, finger off the trigger for now in case we’re gona be flying again - full of hope and doubt and curiosity and uncertainty and a nervous focus on fundamentals and also simultaneously a gleeful whatevs attitude to the fundamentals at times like this.

I haven’t been of the belief that a “MOASS” is on the way, I haven’t even been sold on any sort of really significant (like say to $500+) squeeze still remaining on the cards for over a year now (was fully anticipating that early last year though), but I of course welcome anything that propels me deep into the green, and am more than happy to see diehard believers getting very excited as long as they don’t take anything as ‘inevitable’ or guaranteed and could comfortably laugh off any potential losses with a philosophical attitude and marriage, home, etc. intact.

This looks like rising past $200 again soon, which for me is a bit of a magic number (not quite a sell of any for me though, despite being a pretty silly price), and long may it continue to pick up steam, whatever might be behind it. Like at the start, I view any proposed substantial information, positive or negative, conspiratorial or debunking, with interest and just look to make my own mind up on it. My opinion is dynamic, in a constant state of flux because A) I know that pretty much nothing in life is certain except for death, and B) other than that I know I don’t know shit

Ah well, off to work I pop - fingers crossed I can tell them all to get to absolute fuck this time tomorrow eh!!

2 Likes

Hmmm - buy button getting removed again…

https://twitter.com/Scottish_Ape/status/1508895984872534016?s=20&t=4XaTMGv23qZMBZD7jP7vTw

1 Like

So a stock split and dividend has been announced. Can we up that £25k sell limit? :crazy_face:

4 Likes

Relevant 8-K filing.

On March 31, 2022, GameStop Corp. (the “Company” or “GameStop”) announced its plan to request stockholder approval at the upcoming 2022 Annual Meeting of Stockholders (the “Annual Meeting”) for an increase in the number of authorized shares of Class A common stock from 300,000,000 to 1,000,000,000 through an amendment to the Company’s Third Amended and Restated Certificate of Incorporation (the “Charter Amendment”) in order to implement a stock split of the Company’s Class A common stock in the form of a stock dividend and provide flexibility for future corporate needs.

GameStop also intends to request stockholder approval at the Annual Meeting for a new incentive plan (the “2022 Equity Plan”) to support future compensatory equity issuances. If the 2022 Equity Plan is approved by stockholders, it will replace the current GameStop Corp. 2019 Incentive Plan (the “2019 Plan”), and 8,000,000 shares of the Company’s Class A common stock, plus any shares subject to the 2019 Plan that expire, are forfeited, cancelled, terminated or settled in cash after the 2022 Plan is effective, will be available for issuance under the 2022 Plan. GameStop’s Board of Directors has approved both stockholder proposals, but the stock dividend will be contingent on final Board approval.

The Company’s definitive proxy statement relating to the Annual Meeting will include additional details regarding the Charter Amendment and the 2022 Equity Plan, as well as the record date, date and location of the Annual Meeting.

More important question: is Freetrade even capable of issuing a Class A stock split in the form of a stock dividend? Last time there was a corporate action we were unable to participate.

4 Likes

Stock splits happen regularly. The only times it gets more difficult is if a stock for a dividend is on an unrecognised exchange. In this instance there isn’t going to be a problem.

edit: by unrecognised I mean an exchange that Freetrade doesn’t yet support

3 Likes

As far as I understand it, a stock dividend is not the same thing as a stock split, as the former only issues additional shares to existing stockholders with the company bearing the cost, whereas a stock split dilutes the price by increasing the number of shares in the float.

I absolutely could be wrong, but I’d love to know for sure. Maybe @viktor or @acamp can advise?

1 Like

Both will dilute the price since the overall number of shares will increase, with both methods, your holdings in the company will still remain the same, percentage wise overall.

1 Like

Looking at the market cap and current stock price (at close), shouldn’t there only be 75 mil of class A shares?

From what I understand, previously, Gamestop had the option to issue up to 300m shares, but have only issued 75m. This 8-K states their intention to increase the number of shares they can issue to 1000m, but doesn’t necessarily mean they will use that entire capacity (like a credit card limit).

1 Like

Ok, so the benefit would be twofold: those holding the stock would receive an additional amount as a dividend and those shorting the stock would need to pay this percentage back or close their position?

4 Likes

Normally I would agree with this, but given the disconnect we’ve seen between the share price and alleged number of purchased/borrowed shares, I’m not confident in saying they will be aligned. Having said that, any reduction in share price in this manner would be very welcome as in my experience stock splits tend to encourage FOMO buying (eg. Tesla) :slight_smile:

4 Likes

Oh boy. Buckle up

2 Likes

Nice

Alan @ Freetrade: GME has proposed a stock dividend that would essentially split the stock. However, we’re unable to process stock dividends so a cash payment would be paid in lieu of the dividend. :pray:

and

https://reddit.com/r/superstonkuk/comments/ttjrex/gme_stock_split_freetrades_answer/

1 Like

Well they managed the Nvidia one last year so that doesn’t sound right.

1 Like

April fools?