@jersan@lemmy.whynotdrs.org

jersan

@jersan@lemmy.whynotdrs.org

a proponent of DRS, a proponent of GME, a proponent of the fediverse and freedom of communication.

gmetimeline.org

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Why are DRS numbers stagnant? Exploring the possibilities. Operational Efficiency shares could lower DRS numbers on reporting dates. Plan is not DRS.

Hey all. Writing this a few days after the 12/6/23 Q3 10Q release from GameStop, which showed the third consecutive stagnate reporting for DRS ownership (after controlling for Mainstar un-DRSing 1.2million shares during Q2)....

jersan,

Thanks so much Chives for writing this post. I’ve been hoping for some additional perspectives on this situation and this is the clearest one yet.

It’s a nuanced but very significant distinction. It isn’t immediately obvious when Paul Conn is speaking, the true implications of what he is saying. I don’t think at any point Paul is lying, he is just saying a bunch of true statements that don’t give the full picture. The sentiment he gives is that there is no practical difference, just some technical differences. This isn’t even necessarily inaccurate. It’s just misleading.

Initially, long before this discussion ever came up, I always assumed that “my shares are with Computershare, so they are DRSd,” a belief that was ignorant of the existence of distinction of Plan aka DSPP aka DirectStock, and DRS.

What I’ve come to learn and understand over the last year or so is that just because my shares are with Computershare does not mean that they are all in DRS. In a practical sense it might seem that way because they are all accessible through the same account.

This is a very excellent post that provides a fresh look on this topic.

DRS provides true share ownership. Plan is not DRS. Plan shares are not DRS shares.

True share ownership is with DRS. Plan shares do not provide true share ownership.

As for what Computershare is really doing with Plan shares at various times, this is something that is still unclear to me.

I like having true share ownership, and I don’t like it when then DTC or anyone else uses my investment for their own purposes. All my shares are 100% pure DRS.

jersan, (edited )

by posting it in appropriate places when we can. like this 🙂

jersan,

great post OP!

also, TIL that Lemmy in fact does support tables. It isn’t obvious how to do it, but thank you OP for demonstrating to me that it is possible.

jersan,

that’s awesome. i should have clued in earlier that markdown is valid in Lemmy

for anyone else who is curious: Markdown table: How to Create a Great Looking Table

Item Price # In stock
Juicy Apples 1.99 739
Bananas 1.89 6

you can go to the original post, or this comment for example, and click the view source button and see how markdown text can create a table

jersan,

Also, it’s pretty funny to me how some financial incumbents find this news to be “alarming”. It’s alarming to them, it scares them. It scares them because they already decided that GameStop is bad and Ryan Cohen is bad, but now Ryan Cohen has even more concentrated control to support his ability to execute his strategy.

I’ve now seen on multiple occasions, the sort of FUDdy counter narrative: now Ryan Cohen has the ability to buy assets that aren’t GME. If he had any faith in his company, he would simply use that money to do a GME share buyback.

What a giveaway.

These opponents want RC to do a GME share buy back. Almost as if, this would be a strategically poor move for GameStop at this time but a good move for GameStop’s opponents. Discussed here is why, as of this time, it would not be a good decision to do a share buyback. The only scenario in which that would actually be a good idea would be if the price of GME tanked very low. Better to hold on to that buyback money as an insurance policy, just in case the share price ever does get tanked. In that case, the waiting cash for the buyback covers the problem.

In the mean time, at current GME prices, there are probably other undervalued opportunities that RC has his sights on, and this is scary to anyone that opposes GameStop’s success.

jersan,

look at us! we’re doing a capitalism!

jersan,

That is one way of looking at it. Perspective is subjective. I for one believe in the ongoing GameStop turnaround, and that is one of the reasons I am invested in GME.

jersan, (edited )

these are all good policy propositions.

unfortunately, rules like this will never willingly be implemented by the people who get to make these rules because that would go against their interests.

jersan,

Note regarding earnings/loss per share, the stock-split was in July 2022 which is why there is a big jump between Q1 22 and Q2 22.

jersan,

In order to achieve full-year profitability, GameStop will need to achieve a net income of + $57 million in Q4 2023.

jersan,

i share this feeling. the earnings results today were very good. last week i called this a “good outcome” but i’ve changed my mind. it’s very good 🙂

I think it is indisputable: the standing and performance of the company is improving under Ryan Cohen’s leadership.

jersan,

This hit piece production video featured the following 4 paid actors:

Full transcript:

Kristina Partsinevelos:

What to bedtime stories, a bankrupt company, and memes all have in common?

Fellow Montrealer, chairman of GameStop: Ryan Cohen. Or, that’s at least the speculation on Reddit right now.

Bed Bath and Beyond filed for bankruptcy for April, was delisted in May, and now trades on the US’s main Over the Counter exchange. The shares tend to float around until the entire bankruptcy process is over, and its bonds are right now are practically free, highlighting the lack of value in Bed Bath and Beyond, especially after Overstock paid 21.5 million dollars for all of its IP, so that means that they don’t even own bedbathandbeyond.com is not part of Bed Bath and Beyond it’s Overstock now.

And yet, Bed Bath and Beyond shares have soared, what, over 300% since its delisting, which is pretty uncommon for a bankrupt business, and more uncommon, you have retail investors getting in and, even though they know they would be the last to be paid in any sale, so,

Enter the bedtime stories and meme angle.

The Reddit crowd has a theory involving Teddy Holdings, which filed trademark applications to be an online marketplace for everything from towels, picture frames, to children’s bedtime stories. It’s also registered as a bank in Delaware, the Reddit crowd noted that the address for Teddy Holdings is the same address for Teddy Publishing, which is the publisher of a series of children’s books written by: Ryan Cohen.

There’s that Cohen connection. He’s a prominent figure in the meme stock world, although he did cash out of Bed Bath and Beyond just last year, making what, over 50 million dollars, investors now though, the retail crowd, are hoping Teddy may step in to somehow find value in the bankrupt retailer.

I called and reached out, or tried to reach out to Teddy’s patent lawyer, but didn’t hear back in time for this, uh, hit. So what is this telling us?

Rumors, we know, can move names, no doubt. Meme traders are hoping to connect the dots that may or may not be there, suggesting that Teddy holdings and in turn Ryan Cohen, can help find value in a bankrupt company that is no longer really Bed Bath and Beyond.

Courtney Reagan: And obviously Bed Bath and Beyond saw these huge moves because of the meme crowd, they haven’t given up on this name, even after it’s filed for bankruptcy, even after Ryan Cohen cashed out, huh?

Kristina Partsinevelos: Precisely, and the corporate bonds are really not worth anything, so, and the value, so what’s the value right? because the IP was pretty important hence the reason why Overstock bought it, but, they believe that this company in this shell, whatever’s left of it, that hasn’t been given to Overstock, could be renamed, and be taken under Teddy’s wing.

That’s it – You’re shaking your head no.

David Faber: I mean – Well it just, it just shows you the lengths of wishful thinking that people are willing to go to to delude themselves, that anybody who wanted to get into this business needs the ‘husk’ of Bed Bath and Beyond to do it. I can, I can go back 30 years, there was a bankrupt [something] maker called LTV, and the stock traded around for years and years and years, and people shorted it naked, it was crazy, and it happens every cycle. But the fact that we had the encouragement in here of somebody who at one point saw value in a doomed retailer is… uh I mean I think we should just be clear, that, you know, these are people telling stories to themselves.

Kristina Partsinevelos: Or, this is a really confident market right now, right? You have these investors seeking out any type of profit, uh, we’re re-invigorating the meme trade again, so what does that say, when, you know, people are trying to find value in names that are pretty much dead?

Carl Quintanilla: Or were trying to find alternatives to the, what historically has been private equity coming to the rescue, right?

Courtney Reagan: Exactly, which has not always turned out very well for these retail names, of course, with the, all of the debt that they leverage, and when other crises happen, big problems sort of resurface later on.

David Faber: Fascinating.

Carl Quintanilla: It is Fascinating.

Kristina Partsinevelos: You guys are all smiling but –

Courtney Reagan: This in itself is a bedtime story, right?

Kristina Partsinevelos: Yea, let me get a glass of milk.

Courtney Reagan: “Once upon a time…”

Kristina Partsinevelos: Ryan Cohen came to the rescue, cape and all.

Courtney Reagan: He’s gonna save this damsel in distress. At least that’s the story they’re telling themselves.

Carl Quintanilla: Kristina thanks.

Kristina Partsinevelos: Thank you.

Courtney Reagan: Fascinating.

jersan,

Brenden mentioned Into the Cyberverse, a free-to-play browser-based game.

youtu.be/OjxxtfIjO1s?t=5281

[Ryan Kagy] has been working with us on a lot of things he’s in charge of our blockchain and community, and he’s built something I’m really passionate about and he’s really passionate about, he’s put a lot of labor of love into an immersive experience SLG game which is free to play we launched a a soft launch yesterday, we’ve been working with Spatial on a lot of improvements to their platform. We we’ve really been kind of pushing the boundaries of what’s able to be built, and we’ve built a free-to-play browser-based game on their platform called Into the Cyberverse which is live now.

I’m pretty proud of it. There’s lots of little Easter eggs, and we’ve got a a very passionate community that likes to kind of go down rabbit holes and have fun yeah and I think it’s a it’ll be an enjoyable experience for a lot of people and like I said it’s free to play and you know if you help spread the word us being a small startup uh you know getting the word out and showing people like hey we enjoy these types of experiences we kind of I think get a lot of people uh or brands that are you know um on the sidelines watching to see if these types of things are what people want.

jersan,

youtu.be/OjxxtfIjO1s?t=5481

pp: “One final question before you leave Brenden, alot of us in Bed Bath & Beyond, we’re super tinfoil guys, in your own opinion, again it’s speculative, is the tin foil so crazy after all or what?”

Brenden: “Um, I’ll politely decline to answer that question.”

jersan,

The blackpaper, under roadmap is stated: “Q4 2023: Live events, intensive marketing and team expansion”

On October 11, 2023, Brenden Dearie, CEO and founder of Protocol:Gemini, gives an interview on the pp show.

jersan,

Brenden mentioned Into the Cyberverse, a free-to-play browser-based game.

youtu.be/OjxxtfIjO1s?t=5281

[Ryan Kagy] has been working with us on a lot of things he’s in charge of our blockchain and community, and he’s built something I’m really passionate about and he’s really passionate about, he’s put a lot of labor of love into an immersive experience SLG game which is free to play we launched a a soft launch yesterday, we’ve been working with Spatial on a lot of improvements to their platform. We we’ve really been kind of pushing the boundaries of what’s able to be built, and we’ve built a free-to-play browser-based game on their platform called Into the Cyberverse which is live now.

I’m pretty proud of it. There’s lots of little Easter eggs, and we’ve got a a very passionate community that likes to kind of go down rabbit holes and have fun yeah and I think it’s a it’ll be an enjoyable experience for a lot of people and like I said it’s free to play and you know if you help spread the word us being a small startup uh you know getting the word out and showing people like hey we enjoy these types of experiences we kind of I think get a lot of people uh or brands that are you know um on the sidelines watching to see if these types of things are what people want.

Overlooked observation of the day

When I saw the Kevin Malone tweet earlier, I immediately did some quick math. The article he sited said gme shorts lost 1.5 billion in 5 days. GME is up $5. 1.5 billion divided by 5 is 300 million, not the 56 million or whatever they are claiming short interest is. This is an accidental addition that short interest is at least...

jersan,

I’m not sure I understand the original claim, that shorts lost 1.5 billion. How is the number calculated, and is it accurate?

One comment on reddit said: “I’m going to guess you take the confirmed short share % and multiply by the price change.”

one question i’ve not looked into too deeply is how % shares short is even calculated. i’ve heard many suggestions that the short interest is a false or manipulated number but i’ve never confirmed this for myself.

jersan,

What can be easily seen in this chart is the explosion of growth in that subreddit following the posting of the Heatlamp dd, aka DSPP Revelations https://lemmy.whynotdrs.org/pictrs/image/fb842fe9-b658-401a-aa51-bb909e55a9ca.png

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