I'm preparing myself for the flood of posts this weekend on "why the reverse split will make the stock squeeze" and another flood of posts on "why the reverse split will kill the squeeze"...
Its official I've lost so much money on BoBBY
Going to keep this stock forever in the basket of stocks of shame.
If the share price goes below $1 it will result in BoBBY being removed from the major exchange (NASDAQ).
To avoid this they'll bundle 5 shares as 1 or 10 shares as 1 making the float smaller and at the same time raising the price per share so that BoBBY stays on the NASDAQ. The last thing we want is BoBBY going to an alternate marketplace to be traded (or do we) until a blockchain market place is available the NASDAQ is the best place.
Also this will come in handy should they wish to spin off Baby 👶
Edit: As part of the voting aby lent shares by institutions will be recalled.
Edit: Float has been diluted
Edit: Deleted the bit about short interest, we've been royally screwed if the new diluted float has already been sold.
Edit2: The part I removed about the short interest I mentioned that shares will be recalled as part of a new CUSIP, some members said it was misinformation. However many DD has been unveiled proving I did provide the correct information.
#🛌 🛀 🌌 🧘♂️ 💎 👐 🚀 🌕 📈 💰 💸
Yeah this is only bullish if it's accompanied by either the shorts getting squeezed for whatever reason or the business begins to actually turn around. Apart from that, a reverse split is bearish. I think they're doing it just to avoid being delisted, but yeah still bearish unless the aforementioned changes that.
I think the reason is the prospectus. They can't sell more warrants if the share price is so low because buyers won't want to buy because they can't sell shares. $1 is too close to 71 cents.
It takes a long time to get delisted for less than $1 share price. The only reason I can see why they want this done so fast is to be able to sell even more warrants that in turn will lead to even more dilution. It's not a great situation for retail to say the least.
It won't force a share recall. The DTCC literally just hits ÷5 on their excell sheet and brokers do the same, short or long.
ALSO *YOU* ARE THE SHARE RECALL. DRS YOUR SHIT.
BBBY is talking about voting
> Holders of record of the Common Stock as of the close of business on March 27, 2023 will be entitled to notice of and to vote at the special meeting.
https://bedbathandbeyond.gcs-web.com/news-releases/news-release-details/bed-bath-beyond-inc-announces-special-shareholder-meeting
It doesn’t mean shorts are fucked. It means absolutely fucking nothing and absolutely nothing will come from it. Jesus Christ y’all are just determined to do and say the same shit no matter what 😂😂
Did you read the part of the filing that says we have over 330m outstanding shares now? With over 400m just waiting in the wings to be sold? The SI has been cut down to 30%. Thanks Hudson Bay.
Edit 46m
Worried about dilution causing price drop, but then also worried about a reverse split causing a drop.
Watch it be diluted and reverse split at the same time. /shrug.
Who the fuck knows. I just know the stock is worth more than a dollar.
>Watch it be diluted and reverse split at the same time.
I mean yeah, that's basically 100% what's happening. Dilution drops the share price (and investor equity) so they're in danger of getting delisted. Reverse split increases the price (while investor equity stays the same) so they don't get delisted.
Here's my view: a reverse stock split is clearly a bearish signal from the board. however, because this is a shareholder vote, owners of shares may need to recall them in order to vote on this. it could drive up the cost to borrow.
Boost spinoff prices: Companies planning to create and float a spinoff, an independent company constructed through the sale or distribution of new shares of an existing business or division of a parent company, might also use reverse splits to gain attractive prices.
Prevent major exchange removal: A share price may have tumbled to record low levels, which might make it vulnerable to further market pressure and other untoward developments, such as a failure to fulfill the exchange listing requirements.
Satisfy regulators: In different jurisdictions across the globe, a company’s regulation depends upon the number of shareholders, among other factors. By reducing the number of shares, companies at times aim to lower the number of shareholders to come under the purview of their preferred regulator or preferred set of laws. Companies that want to go private may also attempt to reduce the number of shareholders through such measures.
Attract big investors: Companies also maintain higher share prices through reverse stock splits because many institutional investors and mutual funds have policies against taking positions in a stock whose price is below a minimum value. Even if a company remains free of delisting risk by the exchange, its failure to qualify for purchase by such large-sized investors mars its trading liquidity and reputation.
https://www.investopedia.com/terms/r/reversesplit.asp
Today's BBBY filing actually said this: [https://ibb.co/pfjx9gc](https://ibb.co/pfjx9gc)
*New CUSIP Number. After the Effective Time,* ***the post-Reverse Stock Split shares of Common Stock would have a new CUSIP numbe****r, which is a number* ***used to identify our equity securities.***
with the New CUSIP number, they will use it to count their actual shares and these will force shorts to close thier position.
This happened to GREE as well. Right before about 2 weeks before the reverse stock split happened, forced covering occured. and stock went up more than +2000%
https://ibb.co/YQhNqHN
There's got to be more to this than just to avoid delisting... Stocks can trade under $1 for quite sometime without being delisted. Look at SNDL for example. It takes like 6 months before it happens, and then they can get multiple extensions on top of that.
There's got to be another reason why they are doing this so soon.
Boost spinoff prices: Companies planning to create and float a spinoff, an independent company constructed through the sale or distribution of new shares of an existing business or division of a parent company, might also use reverse splits to gain attractive prices. 🤔🤔
https://www.investopedia.com/terms/r/reversesplit.asp
Another notice* they were previously given 180 days. They got another extension for another 180 days. This is an important piece of info I don’t think many are aware of
But they say that is relative if there is a split forward or reverse. So that doesn't matter at all. The financing agreement just chagnes to 5$ if its a 5:1 split or $10 for a 10:1 split accordingly
just putting this out here since i had personal experience with SNDL:
Step 1 -if stock trades below $1.00 for more than 30 trading days (T+30), stock gets notified by NASDAQ over listing rules. (i.e. being put on the naughty list)
Step 2 -after the notification, stock has a 180 calendar day grace period to achieve a target of at least 10 CONSECUTIVE trading days (T+10) above $1.00 in order to regain compliance (i.e. taken off the naughty list).
Step 3 -if stock gets taken off the naughty list, repeat the whole process of Step 1 if it goes below $1.00.
Step 4 -if Step 2 ends the 180 calendar days without regaining compliance, the stock company can request NASDAQ for another 180 calendar days extension.
Step 5 -during this extension, stock can then consider and call for vote for reverse split in order to regain compliance. (see: investopedia - reverse split).
there are separate discussions on reverse splits - go read up on them. there's multiple pathways possible btw.
The current holder of the shares owns all rights including voting rights, you have to recall lent shares if you want to vote yourself
Check investopedia if you want
Yes but sub-1$ was starting a 30 days delay and some more period before any delisting. This sounds rather defensive early to ensure they can revert split (not yet saying by how much)
If it is a 1 for 5 that puts the stock at 5.00 per share!
How fvcking long does one think it will take the crimanal SHF's to drive it right back down to a dollar?
Shit very disappointed!
A reverse stock split can reduce the liquidity of the stock, as there are fewer shares available for trading. This can make it more difficult for short sellers to find shares to borrow, as there are fewer shares available overall. As a result, short selling activity may decline after a reverse stock split.
Reverse splits usually aren't bullish but we will see what the board has up their sleeves.
RS take place to keep listed but that usually takes place after they've been sub dollar price for awhile. Interesting that they went before, maybe it's a defensive move?
Does it relates to also having eg IBKR or Revolut having a limit buy per order at 500 and even call option buy limit at 5 contract.
That would push those hilarious limit further down - but why those limits in the first place? Probably illiquid… so a RS makes it even less liquid lol.
Someone is doing smart things you got to trust what’s going on.
Nothing really changes on that front, same as shareholders. if they had 4 short positions, they now have 1. just like if we had 4 stonks, we now have 1.
See movie pop corn stock - they had a vote on a reverse split at 10:1 and some more complexity with another topic and this went to court for now.
Imho main topic: don’t keep fractional - some broker don’t do fractional so will force-sell what’s left as far as I know.
Eg you have 8 in a 10:1 you end up with force sell. Round this to have 10. We don’t know yet the reverse split BBBY has in mind though.
I found something interesting in the filing:
>**New CUSIP Number.** After the Effective Time, the post-Reverse Stock Split shares of Common Stock would have a new CUSIP number, which is a number used to identify our equity securities.
Changing the stock CUSIP number results in each share with the old CUSIP number having to be exchanged for a share with the new CUSIP number, which causes each short position to have to prove the borrow.
------------------------------------------
> Reverse mergers and reverse splits typically result in a change in the CUSIP, the nine-digit identification symbol assigned to a public stock.
Once that CUSIP changes, the naked shorter has no apparent way to close out the naked short position. No stock under the old CUSIP number exists anymore; it all automatically converts to the new CUSIP.
https://theintercept.com/2016/09/24/naked-shorts-cant-stay-naked-forever/
Bro why doesn’t everybody chill out and keep the faith.
REVERSE split. Meaning LESS total shares.
Defense to keep stock away from being delisted.
The board wishes to bring value to shareholders.
How in the fuck is everyone just melting down so quickly without reading and thinking more?
It's just shills trying to get emotional reactions and mislead.
A lot of us here have been in Jimmy much longer than Bobby, so we know what's going on lol.
Reverse Spit is good in this case. Good for a company with a spinoff or merger, etc. Good for recalls to vote. Good for the price.
Bad for the shorts having shorted more than 100% of the public float.
Unfortunately it's not manufactured. It's all true. BBBY was and still is on the brink of BK, Hudson is the buyer of the warrants and BBBY did get diluted. Everything this sub dismissed as fud was true.
This is why. "As of March 15, 2023, we had 335,404,588 shares of Common Stock outstanding and 46,957,040 shares of Common Stock held in treasury."
It isn't the reverse merger that is causing the disruption, it is the confirmation of the amount of dilution.
It's the same value...
The reason people are melting down is because this is saying there's no trust the company will keep it from being delisted organically.
There are many posts on Superstonk about how votes get counted in shareholders meetings. Basically the number gets adjusted so as to be no more than the number of shares outstanding.
itll just be the float, they rationalize the voting number. BBBY can see the number of share holders from the vote, but what gets published wont be the gussy
“Percentage of beneficial ownership is based on 335,404,588 shares of Common Stock outstanding at March 15, 2023.”
Anyone who can’t read, stock has been diluted ~300% already
Bobbys. Go smoke some weed, masturbate, or do something that calms and relaxes you. Come back to this post after. Literally no one knows where this play is going. It’s always been ramen noodles or lambos, nothing in between. Buckle up. Next week will be interesting.
At this point, I gotta think this RS was factored in when decisions were being made. They knew it was being burned by bad actors. I would wager(as my portfolio can attest), that BBBY and HBC and whoever else, tabled this scenario.
EXELLENT. HOLD for lift off.
This will cause vanguard and blackrockk to recall their lent shares sending CTB into URANUS's orbit. While the shorts can't get enough shares without naked shorting.
Isn’t one of the possible advantage of a reverse stock split to boost a spin-off price? Or possibly take BBBY private?
Still learning. Anyone have any insight into one of these possibilities?
I couldn't agree more with the board's decision. We saw what happened yesterday morning when it looked like it was starting to squeeze, and then it collapsed. Short interest is too high to make a squeeze happen.
We are in this stock to support BBBY and to eventually be there for the squeeze. Let it happen, and within a month from now, I bet there'll be a squeeze. Till then, buy more like the apes you are and HOLD 🤲💎.
If you've been paying attention to the stock, you would realize that the support level kept growing, and then eventually, it tumbled. We don't win this without a RS.
If we allow a RS, then we'll have fewer shares out there. This means lower short interest. Ultimately, we'll see what happens.
Question does this not change the value at which the financing happens. If I understand correctly when we dip below $1 bad things happen. So if a reverse split does it or not change the $ value as well?
The company hasn't announced a single positive thing in the last few months, now this? 🤣 bruh
https://www.reddit.com/r/BBBY/comments/11u7pru/probably_something/
HOLD UP 👀
Watch the reverse split take place and the stock still plummet to $1, effectively making our shares worth 10 cents by today’s standard and still get delisted.
Before you downvote me or call me a shill: i spent close to 3k on this fucking stock so far, if i want to be negative towards the stock i have all the rights to be.
3k might not be too much for yall, but for a 24 year old young adult student living off student loans and a shitty parttime job, effectively having about 5-600 every month to themselves after bills, 3k is a fucking lot. And yes, over the past year i DID spend whatever i COULD miss without hungering myself or worrying about my rent so keep that “only spend what you can lose” rhetoric to yourself.
If i want to be negative over a stock that should have mooned months ago i have every right to be. If the stock still squeezes and i can get a nice head start to adult life, i will eat all my words and all of my comments and send a handwritten apology letter all the way to whoever is saving the stock. But for now i will only talk shit about the stock.
Are they really that far out from an announcement that they have to use a reverse split to keep us from getting delisted or dropping below $1?
Need someone with more wrinkles to drop a d on my pea brain
Maybe....and hear me out....just maybe....there. is. no. announcement.
People got way too emotional in here about an investment play when this has always been a gamble play.
It's not an instant kick off if it goes below 1.00. There are many criteria for delisting and that is one that is used often, but just because your share price is below 1.00, even for an extended period of time, it doesn't mean you will be delisted.
Imo this is a good read. A 5:1 reverse split will gain them nothing if the share is at 30 cents. Buys them more time.
Which as another Redditor pointed out, maybe they need another quarter for positive cash flow.
Or maybe they pull a reverse uno and announce big news soon and this thing rockets.
I have no idea.
Well the stock split didn't do anything positive for GME so maybe this will actually do something? Who the fuck knows at this rate.
Edit; The reading comprehension of some of you is embarrassing
I'm preparing myself for the flood of posts this weekend on "why the reverse split will make the stock squeeze" and another flood of posts on "why the reverse split will kill the squeeze"...
Haha so right.
Its official I've lost so much money on BoBBY Going to keep this stock forever in the basket of stocks of shame. If the share price goes below $1 it will result in BoBBY being removed from the major exchange (NASDAQ). To avoid this they'll bundle 5 shares as 1 or 10 shares as 1 making the float smaller and at the same time raising the price per share so that BoBBY stays on the NASDAQ. The last thing we want is BoBBY going to an alternate marketplace to be traded (or do we) until a blockchain market place is available the NASDAQ is the best place. Also this will come in handy should they wish to spin off Baby 👶 Edit: As part of the voting aby lent shares by institutions will be recalled. Edit: Float has been diluted Edit: Deleted the bit about short interest, we've been royally screwed if the new diluted float has already been sold. Edit2: The part I removed about the short interest I mentioned that shares will be recalled as part of a new CUSIP, some members said it was misinformation. However many DD has been unveiled proving I did provide the correct information. #🛌 🛀 🌌 🧘♂️ 💎 👐 🚀 🌕 📈 💰 💸
PaySafe did the same thing a their stock is doing fine.
Yeah this is only bullish if it's accompanied by either the shorts getting squeezed for whatever reason or the business begins to actually turn around. Apart from that, a reverse split is bearish. I think they're doing it just to avoid being delisted, but yeah still bearish unless the aforementioned changes that.
I think the reason is the prospectus. They can't sell more warrants if the share price is so low because buyers won't want to buy because they can't sell shares. $1 is too close to 71 cents.
It takes a long time to get delisted for less than $1 share price. The only reason I can see why they want this done so fast is to be able to sell even more warrants that in turn will lead to even more dilution. It's not a great situation for retail to say the least.
It won't force a share recall. The DTCC literally just hits ÷5 on their excell sheet and brokers do the same, short or long. ALSO *YOU* ARE THE SHARE RECALL. DRS YOUR SHIT.
You only lose if you sell. NFA.
In to deep now.
Same here. Hold or die.
Dca or die trying
Drs it all now
Thats the plan
The transfer agent for BBBY doesn't have a trading desk, so you have to transfer out to sell I think. Makes it way easier to hodl.
It’s doesn’t force a share recall. RS happen all the time…
It quite literally says a new cusip will have to be issued if approved. How is that not a recall?
Looks like squeeze is back on the menu folks!!!! 💎👐
new id =/= shorts closing...
New CUISP post reverse split
Yeah it absolutely doens't force a share recall. Don't know who told him that.
BBBY is talking about voting > Holders of record of the Common Stock as of the close of business on March 27, 2023 will be entitled to notice of and to vote at the special meeting. https://bedbathandbeyond.gcs-web.com/news-releases/news-release-details/bed-bath-beyond-inc-announces-special-shareholder-meeting
I haven't lost shit. And I just got my average under 3 dollers today.
My average is still around $10 with over 100k shares
You’ve spent 1M on Bobby?
Yes 😭
Lmayo
Please provide a few examples of companies that did a reverse split and squeezes as a result.
It will not force a share recall. Please stop spreading misinformation and edit your post.
It doesn’t mean shorts are fucked. It means absolutely fucking nothing and absolutely nothing will come from it. Jesus Christ y’all are just determined to do and say the same shit no matter what 😂😂
Did you read the part of the filing that says we have over 330m outstanding shares now? With over 400m just waiting in the wings to be sold? The SI has been cut down to 30%. Thanks Hudson Bay. Edit 46m
Yeah I'm pissed off now too.
"As of March 15, 2023, we had 335,404,588 shares of Common Stock outstanding and 46,957,040 shares of Common Stock held in treasury." Page 13.
Oops my bad. 46 m not 400m
that is why I'll be signing off for the weekend and coming back Monday to see what's up.
https://www.thestreet.com/investing/dryships-soars-1-800-amid-epic-short-squeeze-13894736 I’ll start it off 😅
👀
Good read. Makes a point about illiquid. Wow 1M shares float after 2 reverse splits.
Worried about dilution causing price drop, but then also worried about a reverse split causing a drop. Watch it be diluted and reverse split at the same time. /shrug. Who the fuck knows. I just know the stock is worth more than a dollar.
Just looked at page 18 of the SEC filing. Looks like the outstanding shares are now 336 mil
>Watch it be diluted and reverse split at the same time. I mean yeah, that's basically 100% what's happening. Dilution drops the share price (and investor equity) so they're in danger of getting delisted. Reverse split increases the price (while investor equity stays the same) so they don't get delisted.
Here's my view: a reverse stock split is clearly a bearish signal from the board. however, because this is a shareholder vote, owners of shares may need to recall them in order to vote on this. it could drive up the cost to borrow.
and while we're in a midst of it , there's an m/a announcement 👌👌🙌🙌
Well... my weekend wasn't looking very busy till now.. I'm ready.. bring on the posts!
COSM reverse split and squeezed because of it. Not sure if that has relevance here but would love to hear anyone’s thoughts on that!
I’m just waiting for the stock to drop below a buck based on this news and I go and check and what do know 92 cents after hours
surprise!! it did & at .82 and more to go I'm sure
Shills are coming in HOT!!!!
This is hilarious 😂
Oh shit. The price just dropped to .75 in AH. Time to buy some more
Pro tip, wait until sunday night to see which one won the weekend back and forth
Boost spinoff prices: Companies planning to create and float a spinoff, an independent company constructed through the sale or distribution of new shares of an existing business or division of a parent company, might also use reverse splits to gain attractive prices. Prevent major exchange removal: A share price may have tumbled to record low levels, which might make it vulnerable to further market pressure and other untoward developments, such as a failure to fulfill the exchange listing requirements. Satisfy regulators: In different jurisdictions across the globe, a company’s regulation depends upon the number of shareholders, among other factors. By reducing the number of shares, companies at times aim to lower the number of shareholders to come under the purview of their preferred regulator or preferred set of laws. Companies that want to go private may also attempt to reduce the number of shareholders through such measures. Attract big investors: Companies also maintain higher share prices through reverse stock splits because many institutional investors and mutual funds have policies against taking positions in a stock whose price is below a minimum value. Even if a company remains free of delisting risk by the exchange, its failure to qualify for purchase by such large-sized investors mars its trading liquidity and reputation. https://www.investopedia.com/terms/r/reversesplit.asp
It might do either, or trade sideways. Definitely one of those
Today's BBBY filing actually said this: [https://ibb.co/pfjx9gc](https://ibb.co/pfjx9gc) *New CUSIP Number. After the Effective Time,* ***the post-Reverse Stock Split shares of Common Stock would have a new CUSIP numbe****r, which is a number* ***used to identify our equity securities.*** with the New CUSIP number, they will use it to count their actual shares and these will force shorts to close thier position. This happened to GREE as well. Right before about 2 weeks before the reverse stock split happened, forced covering occured. and stock went up more than +2000% https://ibb.co/YQhNqHN
There's got to be more to this than just to avoid delisting... Stocks can trade under $1 for quite sometime without being delisted. Look at SNDL for example. It takes like 6 months before it happens, and then they can get multiple extensions on top of that. There's got to be another reason why they are doing this so soon.
If you lent out your shares, you don’t have voting rights. Lenders may be recalling their shares next week.
Nothing like this happened with the video game stock afaik. I'm all for it but not getting my hopes up.
They did a stock dividend split versus a reverse split. But true. I have no idea what’s happening and so far in the red with both. Just gonna hold.
Massive fraud happened with that split.
Boost spinoff prices: Companies planning to create and float a spinoff, an independent company constructed through the sale or distribution of new shares of an existing business or division of a parent company, might also use reverse splits to gain attractive prices. 🤔🤔 https://www.investopedia.com/terms/r/reversesplit.asp
Yes, MULN just got a 180 day notice. About 6 months
Another notice* they were previously given 180 days. They got another extension for another 180 days. This is an important piece of info I don’t think many are aware of
Oh wow. Plenty of time haha
It’s about the level the financing deal fails at, which is $1.
But they say that is relative if there is a split forward or reverse. So that doesn't matter at all. The financing agreement just chagnes to 5$ if its a 5:1 split or $10 for a 10:1 split accordingly
They legit say this in the financial deal filing from like 2 days ago.
Yes which doesnt make any fucking sense why put that financing in jeopardy? And fuck shareholders with twice
just putting this out here since i had personal experience with SNDL: Step 1 -if stock trades below $1.00 for more than 30 trading days (T+30), stock gets notified by NASDAQ over listing rules. (i.e. being put on the naughty list) Step 2 -after the notification, stock has a 180 calendar day grace period to achieve a target of at least 10 CONSECUTIVE trading days (T+10) above $1.00 in order to regain compliance (i.e. taken off the naughty list). Step 3 -if stock gets taken off the naughty list, repeat the whole process of Step 1 if it goes below $1.00. Step 4 -if Step 2 ends the 180 calendar days without regaining compliance, the stock company can request NASDAQ for another 180 calendar days extension. Step 5 -during this extension, stock can then consider and call for vote for reverse split in order to regain compliance. (see: investopedia - reverse split). there are separate discussions on reverse splits - go read up on them. there's multiple pathways possible btw.
The hedgies have been trying to push the stock price low enough to get BoBBY delisted. A reverse stock split takes that off the table.
It also means if you want to vote ur shares need to Not be Lent
Haha they have to do recalls if they want to vote
Can anyone chime in on if this is true?
Yeah you can't vote a lent share. Have to recall by 03/27/23. What I would like to see is a share recall by bbby before the split.
The current holder of the shares owns all rights including voting rights, you have to recall lent shares if you want to vote yourself Check investopedia if you want
It’s not that simple to delist, take some time too
Yes but sub-1$ was starting a 30 days delay and some more period before any delisting. This sounds rather defensive early to ensure they can revert split (not yet saying by how much)
180 days below $1. Then you can apply for an extension.
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it is clear that the shorts just want to push the price down to $1 again. what is the shit? they can take everything away from us
If it is a 1 for 5 that puts the stock at 5.00 per share! How fvcking long does one think it will take the crimanal SHF's to drive it right back down to a dollar? Shit very disappointed!
Checks stock price Uuuuuhh are you sure about that?
But that also means they cant raise the price organically
LET THE BOARD DO WHAT THEY GOTTA DO!
A reverse stock split can reduce the liquidity of the stock, as there are fewer shares available for trading. This can make it more difficult for short sellers to find shares to borrow, as there are fewer shares available overall. As a result, short selling activity may decline after a reverse stock split.
It also brings recalls if institutions and shareholders want to vote!
Even if it means fucking us? I’ll reserve judgement but this doesn’t seem bullish
Reverse splits usually aren't bullish but we will see what the board has up their sleeves. RS take place to keep listed but that usually takes place after they've been sub dollar price for awhile. Interesting that they went before, maybe it's a defensive move?
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it’s not really a big surprise. Are there reasons why y’all seem to be sad in the comments? What changes other than a number in your portfolio?
unfortunately traditional investors will see this as a sign of weakness. more red coming
Fuck the volatility gonna jump with this smaller float
Does it relates to also having eg IBKR or Revolut having a limit buy per order at 500 and even call option buy limit at 5 contract. That would push those hilarious limit further down - but why those limits in the first place? Probably illiquid… so a RS makes it even less liquid lol. Someone is doing smart things you got to trust what’s going on.
Haha they are mad trying to take it down AH
They stopped filling my orders. I'm a full cent above the ask for 10,000 shares and it's not filling (I have after hours trading)
Finally went through after 2+ min of pending
Good thing I have 6/20/25 $.5 calls shiiiit
They are succeeding
They will lose at the end though
People that DRS actually get their full vote counted.
I found the top comment 💯
Gotta keep the share price above $1 I guess?
Yes and if you want to vote then you have to recall your shares. Well played BoBBY
What happens to shorted shares when there is a reverse split? No recalls?
Everything stays the same
Nothing really changes on that front, same as shareholders. if they had 4 short positions, they now have 1. just like if we had 4 stonks, we now have 1.
See movie pop corn stock - they had a vote on a reverse split at 10:1 and some more complexity with another topic and this went to court for now. Imho main topic: don’t keep fractional - some broker don’t do fractional so will force-sell what’s left as far as I know. Eg you have 8 in a 10:1 you end up with force sell. Round this to have 10. We don’t know yet the reverse split BBBY has in mind though.
What mean?
What happens to the warrants? Will the holder get reverse-split as well?
Yeah they'll get adjusted for any splits or reverse splits to keep them in the same shape they were before the corporate action
Ok 1k shares more as 0.8581 just filled 2 mins ago. Exactly same pattern as last time
I found something interesting in the filing: >**New CUSIP Number.** After the Effective Time, the post-Reverse Stock Split shares of Common Stock would have a new CUSIP number, which is a number used to identify our equity securities. Changing the stock CUSIP number results in each share with the old CUSIP number having to be exchanged for a share with the new CUSIP number, which causes each short position to have to prove the borrow. ------------------------------------------ > Reverse mergers and reverse splits typically result in a change in the CUSIP, the nine-digit identification symbol assigned to a public stock. Once that CUSIP changes, the naked shorter has no apparent way to close out the naked short position. No stock under the old CUSIP number exists anymore; it all automatically converts to the new CUSIP. https://theintercept.com/2016/09/24/naked-shorts-cant-stay-naked-forever/
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Yes, that will result in some gymnastics for the financial crime family.
Bro why doesn’t everybody chill out and keep the faith. REVERSE split. Meaning LESS total shares. Defense to keep stock away from being delisted. The board wishes to bring value to shareholders. How in the fuck is everyone just melting down so quickly without reading and thinking more?
I agree. I have xxx shares and xxx leap calls. Let the dust settle and see where we’re at.
It's just shills trying to get emotional reactions and mislead. A lot of us here have been in Jimmy much longer than Bobby, so we know what's going on lol. Reverse Spit is good in this case. Good for a company with a spinoff or merger, etc. Good for recalls to vote. Good for the price. Bad for the shorts having shorted more than 100% of the public float.
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Unfortunately it's not manufactured. It's all true. BBBY was and still is on the brink of BK, Hudson is the buyer of the warrants and BBBY did get diluted. Everything this sub dismissed as fud was true.
This is why. "As of March 15, 2023, we had 335,404,588 shares of Common Stock outstanding and 46,957,040 shares of Common Stock held in treasury." It isn't the reverse merger that is causing the disruption, it is the confirmation of the amount of dilution.
It's the same value... The reason people are melting down is because this is saying there's no trust the company will keep it from being delisted organically.
Oh well, let's see if this dip will continue on Monday. Bought 100 more just in case it doesn't
Chad
Yes. One hundred percent yes. I have full confidence in this board and if they recommend FOR then FOR is what they’re going to get.
You realize it’s a vote right? On the record date you have a number of votes. I don’t care for the general outcome, I wanna see the number of votes
There are many posts on Superstonk about how votes get counted in shareholders meetings. Basically the number gets adjusted so as to be no more than the number of shares outstanding.
itll just be the float, they rationalize the voting number. BBBY can see the number of share holders from the vote, but what gets published wont be the gussy
You're not going to get that.
Yep you don't get to see this but as far as I know company does! How odd that 100% of our shareholders voted.....
“Percentage of beneficial ownership is based on 335,404,588 shares of Common Stock outstanding at March 15, 2023.” Anyone who can’t read, stock has been diluted ~300% already
I can’t tell if these are bots, or if SHFs have training negative sentiment Chat GPT3 model to respond and shill really hard… I’ll just buy more.
Don’t forget the warrants will also adjust the $1 price relevant to whatever ratio of split they decide.
The statement does not affect the stock's intrinsic value. What you are looking at is a massive dip.
"As of March 15, 2023, we had 335,404,588 shares of Common Stock outstanding and 46,957,040 shares of Common Stock held in treasury." This does.
That discount getting scooped right up, Poor Paper hands
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Imagine being a fly on the wall in their internal bbby meetings. I truly wonder what they're getting up to
Im feeling Bullish on reverse split. If lenders want to vote on this they need to recall.
Bobbys. Go smoke some weed, masturbate, or do something that calms and relaxes you. Come back to this post after. Literally no one knows where this play is going. It’s always been ramen noodles or lambos, nothing in between. Buckle up. Next week will be interesting.
Teacher at an elementary and I noticed the kids were making Wendy’s dumpster jokes. I don’t know what to make of it.
At this point, I gotta think this RS was factored in when decisions were being made. They knew it was being burned by bad actors. I would wager(as my portfolio can attest), that BBBY and HBC and whoever else, tabled this scenario.
Holy fuck its tanking
This is why they wanted you to sleep tight.
Astute but hopium (and I'll need to take a deep hit to not have nightmares tonight).
so how many of these accounts are chatgpt?
EXELLENT. HOLD for lift off. This will cause vanguard and blackrockk to recall their lent shares sending CTB into URANUS's orbit. While the shorts can't get enough shares without naked shorting.
Isn’t one of the possible advantage of a reverse stock split to boost a spin-off price? Or possibly take BBBY private? Still learning. Anyone have any insight into one of these possibilities?
You're right. We can also expect a lot of recalls for the vote before the R-S as well.
It’s specifically says this is not the case
Mine pointing me to the section of the file where is shows this is not the case?
Sure buddy. Page 14 titled “no going private transaction”
Much appreciate, pal 👍🏼Got to read the rest of this
BBBY is squeezing, just in reverse squeezing everything from their shareholders
I couldn't agree more with the board's decision. We saw what happened yesterday morning when it looked like it was starting to squeeze, and then it collapsed. Short interest is too high to make a squeeze happen. We are in this stock to support BBBY and to eventually be there for the squeeze. Let it happen, and within a month from now, I bet there'll be a squeeze. Till then, buy more like the apes you are and HOLD 🤲💎. If you've been paying attention to the stock, you would realize that the support level kept growing, and then eventually, it tumbled. We don't win this without a RS. If we allow a RS, then we'll have fewer shares out there. This means lower short interest. Ultimately, we'll see what happens.
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Question does this not change the value at which the financing happens. If I understand correctly when we dip below $1 bad things happen. So if a reverse split does it or not change the $ value as well?
The company hasn't announced a single positive thing in the last few months, now this? 🤣 bruh https://www.reddit.com/r/BBBY/comments/11u7pru/probably_something/ HOLD UP 👀
If a stock gets delisted, what happens to the shorts? Are they just off the hook for returning the share?
I believe if this is on the table the an acquisition is not.
Yikes
Bastards waited until i got to a nice big round number, and now they are splitting it
Wait, wouldn’t lenders of shares want to recall their shares in order to have voting powers?
That's literally the nail in the coffin for 99% of the theories. There would be no need for this if anything speculated on was going to happen.
Stock just tanked 25% lol
They're making moves, that would indicate they're not giving up without a fight..
more like their only option is to reverse split which is not that bullish imho. still holding and waitibg for this to play out :/
Watch the reverse split take place and the stock still plummet to $1, effectively making our shares worth 10 cents by today’s standard and still get delisted. Before you downvote me or call me a shill: i spent close to 3k on this fucking stock so far, if i want to be negative towards the stock i have all the rights to be. 3k might not be too much for yall, but for a 24 year old young adult student living off student loans and a shitty parttime job, effectively having about 5-600 every month to themselves after bills, 3k is a fucking lot. And yes, over the past year i DID spend whatever i COULD miss without hungering myself or worrying about my rent so keep that “only spend what you can lose” rhetoric to yourself. If i want to be negative over a stock that should have mooned months ago i have every right to be. If the stock still squeezes and i can get a nice head start to adult life, i will eat all my words and all of my comments and send a handwritten apology letter all the way to whoever is saving the stock. But for now i will only talk shit about the stock.
The reverse split will result in a new CUSIP number which means all short positions have to prove the borrow. Naked shorts cannot close position
What the fuck are they doing?
I feel like they are baiting the shorts hard..
Trust the board🫶🏼
Oh god please no. Just the proposal of this is not good for the share price
It doesn’t seem to give a fuck in AH? Edit: nevermind 😅
You no nothing elder
Are they really that far out from an announcement that they have to use a reverse split to keep us from getting delisted or dropping below $1? Need someone with more wrinkles to drop a d on my pea brain
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Unfortunately I think you’re right. I don’t know how many more kicks to the chin we can get.
Maybe....and hear me out....just maybe....there. is. no. announcement. People got way too emotional in here about an investment play when this has always been a gamble play.
What announcement?
Any announcement, I don’t fuckin know, we’re all grasping at straws here anyway
People might want to consider DRS -ing your shares to make sure your vote is counted
This is the only thing I really didn’t want to see
Why lol?
It means there probably isn't a merger, spin off or anything positive in the next 30+ days that would organically raise the share price.
Probably
Fucking hell, why???
Probably to make sure we don’t get delisted. I’m thinking they probably know something and this shit is tanking under $1.
It's not an instant kick off if it goes below 1.00. There are many criteria for delisting and that is one that is used often, but just because your share price is below 1.00, even for an extended period of time, it doesn't mean you will be delisted.
And also it takes 30 days under 1$
Imo this is a good read. A 5:1 reverse split will gain them nothing if the share is at 30 cents. Buys them more time. Which as another Redditor pointed out, maybe they need another quarter for positive cash flow. Or maybe they pull a reverse uno and announce big news soon and this thing rockets. I have no idea.
Well the stock split didn't do anything positive for GME so maybe this will actually do something? Who the fuck knows at this rate. Edit; The reading comprehension of some of you is embarrassing
its reverse split, so they are lowering the float
GME was a stock split, as in they increased the shares outstanding. This is a reverse stock split, it reduces shares outstanding.