6 ms·

This movie isn't over yet. We'll have to wait and see if GameStop goes full 80's on them with a hostile takeover attempt.

kotaKat 4mo ago
Meanwhile they're now working on getting approval to dilute out another billion or so shares: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326380/000119312526217168/d937376dpre14a.htm#toc937376_151 https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326380/0... "We are asking our stockholders to approve an amendment to our Third Amended and Restated Certificate of Incorporation, as amended by the Certificate of Amendment dated June 2, 2022 (the “Existing Charter”), to increase the number of authorized shares of our common stock to 2,500,000,000, and correspondingly increase the number of authorized shares of all classes of our stock to 2,505,000,000 for the reasons discussed below. Our Existing Charter currently authorizes the issuance of 1,000,000,000 shares of common stock and 5,000,000 shares of preferred stock."
- SwellJoe 4mo ago
  Cocaine (or whatever their CEO is on) doesn't buy itself. Edit: Also, the fact that company leadership can get away with this kind of thing, fleecing retail investors for millions/billions of dollars, and face no consequences is...I dunno. I guess it's just normal now. Lawlessness, bribery, favors to the right politicians, lying without hesitation or remorse. People in media clutching their pearls over whatever the Gen Z kids are getting up to on TikTok while this shit is going on is just the icing on the cake.
- WJW 4mo ago
  I thought their stockholders were super into direct registration to trigger the "mother of all short squeezes" when (or so the conspiracy went anyway) all the evil hedge funds would have to buy back their alleged naked shorts for infinite money. That doesn't really play well with Gamestop putting 1.5 billion extra shares on the market, which is basically exactly the reverse of a short squeeze and would surely push down prices. Or was this a 2022 thing and Gamestop investors have moved on from diamond handing?
  - SwellJoe 4mo ago
    They're in an entirely alternate reality where those evil hedge funds did not fleece them for all they're worth. They got had, by GME insiders and by institutional investors. And, lots of people warned them, but they had belief and diamond hands. I hate that this shit goes unpunished. Though, I guess the apes got mad as hell at anyone that tried to talk them down, or did anything to slow the bleeding.
    - WJW 4mo ago
      > I hate that this shit goes unpunished. The apes did get punished though? And the hedge funds correctly took advantage of irrational behavior by other actors in the market. This is how price-finding in the markets is supposed to work, I can barely call that "evil".
      - SwellJoe 4mo ago
        No, I mean the GME insiders who made a bunch of money off the apes, pretending to be on their side. They may be gullible and ignorant about the market (and very annoying online), but it's shady as hell that GME leadership hasn't been forthright about the state of things.
tclancy 4mo ago
Someone call T. Boone Pickens and the Greenwash Boys!
matwood 4mo ago
GME had already acquired ~5% of Ebay shares ahead of the offer.
- deleted 4mo ago
  [deleted]
- sirbutters 4mo ago
  Why didn't Cohen buy 100% of eBay shares. What is he, stupid?
- kentm 4mo ago
  He actually didn't. The majority of that was in options. So he "controlled" 5% via derivatives but this is not the same as owning shares.
turtlesdown11 4mo ago
I hope this happens bc they can't even get financing so it would prolong the hilaritiy

kotaKat 4mo ago

Meanwhile they're now working on getting approval to dilute out another billion or so shares: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326380/000119312526217168/d937376dpre14a.htm#toc937376_151 https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326380/0... "We are asking our stockholders to approve an amendment to our Third Amended and Restated Certificate of Incorporation, as amended by the Certificate of Amendment dated June 2, 2022 (the “Existing Charter”), to increase the number of authorized shares of our common stock to 2,500,000,000, and correspondingly increase the number of authorized shares of all classes of our stock to 2,505,000,000 for the reasons discussed below. Our Existing Charter currently authorizes the issuance of 1,000,000,000 shares of common stock and 5,000,000 shares of preferred stock."

SwellJoe 4mo ago
Cocaine (or whatever their CEO is on) doesn't buy itself. Edit: Also, the fact that company leadership can get away with this kind of thing, fleecing retail investors for millions/billions of dollars, and face no consequences is...I dunno. I guess it's just normal now. Lawlessness, bribery, favors to the right politicians, lying without hesitation or remorse. People in media clutching their pearls over whatever the Gen Z kids are getting up to on TikTok while this shit is going on is just the icing on the cake.
WJW 4mo ago
I thought their stockholders were super into direct registration to trigger the "mother of all short squeezes" when (or so the conspiracy went anyway) all the evil hedge funds would have to buy back their alleged naked shorts for infinite money. That doesn't really play well with Gamestop putting 1.5 billion extra shares on the market, which is basically exactly the reverse of a short squeeze and would surely push down prices. Or was this a 2022 thing and Gamestop investors have moved on from diamond handing?
- SwellJoe 4mo ago
  They're in an entirely alternate reality where those evil hedge funds did not fleece them for all they're worth. They got had, by GME insiders and by institutional investors. And, lots of people warned them, but they had belief and diamond hands. I hate that this shit goes unpunished. Though, I guess the apes got mad as hell at anyone that tried to talk them down, or did anything to slow the bleeding.
  - WJW 4mo ago
    > I hate that this shit goes unpunished. The apes did get punished though? And the hedge funds correctly took advantage of irrational behavior by other actors in the market. This is how price-finding in the markets is supposed to work, I can barely call that "evil".
    - SwellJoe 4mo ago
      No, I mean the GME insiders who made a bunch of money off the apes, pretending to be on their side. They may be gullible and ignorant about the market (and very annoying online), but it's shady as hell that GME leadership hasn't been forthright about the state of things.

tclancy 4mo ago

Someone call T. Boone Pickens and the Greenwash Boys!

matwood 4mo ago

GME had already acquired ~5% of Ebay shares ahead of the offer.

deleted 4mo ago
[deleted]
sirbutters 4mo ago
Why didn't Cohen buy 100% of eBay shares. What is he, stupid?
kentm 4mo ago
He actually didn't. The majority of that was in options. So he "controlled" 5% via derivatives but this is not the same as owning shares.

turtlesdown11 4mo ago

I hope this happens bc they can't even get financing so it would prolong the hilaritiy