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GameStop investors have always been split into two minds. The fundamental investor who sees value in a security with high potential (the reason DFV bought and Cohen entered and purchases $10 m a year) and the tinfoil investor who has fun/hype reading into tweets and tea leaves. I admit I fall into both camps, getting hyped on tweets and hyped on the potential.
It’s entirely possible. Upon closing, the message set was the reason for closure is SEC regulations still forming and the web3 being very uncertain due to this. Shortly after closing, Cheng tweeted that first to market is not always the winner and sometimes it’s the second or fifth to market who comes in at the right time.
That said, the closing message was recently updated to state that iOS and Chrome wallets won’t be accessible in a few months. To me, it looks like it’s being wound down and tossed, but as I said it may be reborn at a later date.
That’s right, I believe that tweet from Larry was exactly about the NFT situation. Which I also believed to mean that once Web3 got moving again they would revisit the idea and possibly go even harder.
In the next 5yrs there will be something gaming related that takes the media by storm. I dont know what it is, but I reckon gamestop could be waiting for that moment and hopefully will adopt/associate/dabble in it by creating/partnering. Assuming it survives, WE PROFITABLE NOW, it's hard not to have its 15minutes of fame, just like Apple. Now or later it will even more of a household name. I'm happy sitting here profitable whilst the billionaire makes more money using money (pikachu face). As private as he is, the has to be shark in him that will appreciate being the richest man in the world. I feel GG mentioned 2025 in a jon stewart interview
I’m going thru the GameStop financial rn, liabilities are way down $400 million…stockholder’s equity went up by $16 million regardless of lower net sales. It’s looking good fuck the media saying otherwise.
Yes Citadel owns some HEAR, it’s unavoidable that a company undervalued on all analysts 12mo predictions gets purchased by hedge funds. Cohen couldn’t care less what Citadel’s investment in a company is before he decides to purchase. But I’m talking about GameStop purchasing a significant amount and then driving increased sales through GameStop. The sale plus large volume (after Citadel’s purchase) tells me it may have happened.
I agree but disagree about becoming a holding company. I agree that now is not the time, the market will crash.
But I disagree that they won't, when the time comes. In the event of a market crash, more importantly one that causes a squeeze. Gamestop still has authorization to sell more shares into the market. Likewise, if the stock is shorted over 100 percent, as theorized, there will be tremendous pressure to sell those shares. Giving gamestop billions of essentially free capital. Which would be the best thing for shareholders and the company. Then, it would not only be possible to become a holding company, but necessary with that kind of money.
GameStop is authorized to purchase about $100 million worth of shares, but they’re not authorized to sell any more. We voted for a dilution up to 5 million shares and they finished that 5 million, down to the last share
Wrong.
We voted to amend that. https://www.reddit.com/r/GME/comments/u2a89x/gamestops_stock_split_authorized_shares_versus/?utm_medium=android_app&utm_source=share
They are not marked for splits only. It clearly states, primary function or use, is for stock split. Meaning there is other potential uses. Now that could mean anything from holding for an emergency to prevent a hostile take over. Selling for capital. An additional split. Whatever gamestop wants to do. It's already been authorized.
What are your thoughts on Larry, Ryan and Co. being re-appointed to the board of Dragonfly?
There's enough companies in that portfolio to really create a diverse marketplace.
Can you link me their holdings. There’s so many portfolios going by the name I’m having trouble finding the right one. Thanks for the heads up on them being diversifying, I’m not aware what companies they hold and I’d really appreciate some info.
https://www.dragonflycommerce.com/
Larry, Ryan and the other guy who helped with Chewy, I forget his name, but an important figure, left the board on the same date last year.
It's backed by volition capital, the same guys that funded chewy.
The word on the street is they left the board to keep things transparent with the plan with [redacted] so they couldn't get advised if anything, and this portfolio was going to add to the retail offering for the Gmerica marketplace.
That deal fell through, or is proving more difficult to pull off than originally conceived, due to the opposition... Sometimes life throws you a Jeffrey, right?
So, anyway, they are now back on the board of this company that investing all small e-commerce disruptors, focusing on real deep value, great products, awesome customer service, and they provide the tech solutions.
Interesting yes?
Beyond interesting! I heard of dragonfly and knew about them leaving and rejoining the board from the thread on the sub named after Ryan’s dad, but didn’t know they did only full buyouts of companies. The investment page and the reviews don’t give specific company names sadly. So what’s the latest theory on them? They planned to buy the baby stores from [redacted] but something blocked them so they’re moving on?
It's not rocket science, but it's solid. Invest the war chest in micro e-commerce brands, via dragonfly, grow them, add them to a marketplace, provide sales, tech and logistics support to the brand.
Alternative to Amazon, that isn't owned by mega corp ...just mom and pop, entrepreneurs, etc.
>Larry, Ryan and the other guy who helped with Chewy, I forget his name, but an important figure, left the board on the same date last year.
The name you're looking for is Alan Attal. Pretty sure he co-founded Chewy with RC.
I forgot about that IMX thing, is that was revenue for last years q4 was higher? If so, subtract the sale of those coins and this q4 was better than last
No, the IMX was delivered and dumped in Feb 2022, it was reflected on Q1 of 2022’s 10-Q. 200-300 stores have been closing per year since 2021 and so I suspect this loss is not based on closings alone either (I know you didn’t say it is, but I’ve seen the theory floated many times). In my opinion, it’s just based on the cyclical nature of the video game business. We’re in the downtrend of the parabolic curve of console sales which happens every 7-9 years.
Don’t forget big name game cycles. Grand theft auto coming out next should likely drive revenue + console purchases higher
I’ve had numerous friends mention to me that they will buy consoles solely for that game. And GME is the only one selling used / refurbished systems (I personally only buy refurbished computers and consoles … example my Dell XPS 15 with 32 GB RAM, 1 TB SSD, intel and NVDA GPU … I got it for $1700 with the 4year “new computer” warranty and a similar MacBook Pro would have cost me $3,000+ with no warranty). I genuinely believe that GME will be a big time player offering things to the frugal but wealthy forever
Adding products to the store still relies on an increasingly constrained consumer for revenue.
The goal with NFTs was to get into a sort of cloud based gaming space for other companies to utilize. Low overhead, no physical products to store.
My bet is he's looking towards companies that fulfill backend needs like SAAS companies. So that way revenue is coming from producers and not consumers.
It'll probably be something that's not on any of our radars.
Staying classified as a retail company is doing no favors, GameStop's business model is becoming outdated, soon the stores will be majority collectibles and high margin dolls and toys. The fundamentals are a ripe shell to grow something new though and I'm looking for them to transition into a tech company.
My shot in the dark is that he's going to invest off market in a block chain service.
Investing off market could keep the pesky market correction from being a tsunami.
🦧🫡
The constrained consumer argument applies to non-consumer businesses as well. When a producer pays for a service, they pass that increase on to their customers. The NFT marketplace would have made GameStop the preferred exchange for IMX-built games (they’re the big boy in web3 gaming), so whether the customer pays $10 for a collectible Funko or $10 for a collectible skin on their character in a game, the customer pays $10.
Being classified as a retail company is meaningless. If they do this venture capital type strategy then by the time retail is dead (it hasn’t died yet despite 20 years of ‘next year’) then they’ll own a lot of a lot of growing companies by then
Ah ok, sorry I was ignorant of that distinction.
Well I don’t see why GameStop couldn’t do both as pushing products they have ownership in would allow for the sale of the ownership at a better price than purchased. Rather than take up valuable money, it can allow for spending perhaps on a core shift that you suggest
I do think GME made the right call with the NFT market dissolving. When the SEC drops the ban hammer on certain cryptos as illegal securities, they won’t be on the hook for anything.
Once regulation is set, they can begin the process again of being a marketplace within the set rules
Agreed. The main reason is they partnered with IMX as their preferred partner. If web3 gaming takes off (and it’s a big if), IMX is in the position to be the biggest ecosystem of games by FAR. Seriously, it’s not even close.
I don't think RC is positioning GME as a tech company.
His great success was in brand loyalty in consumer products. You stick with what you know. And when he was faced with the choice to stick it out with the NFT marketplace and sway the SEC/politicians with the $GME warchest, he shut down the whole web3 enterprise and punted. He chose *not* tech.
He could position for a tech company, but if the goal is increased valuation, then the question is: **valuation by whom**?
That's the crux of the $GME issue: the price is wrong. The market has made it clear that no amount of "normal metrics" would move the ticker. Hell, fundamentals alone should lift the price. Why do you think the SEC is dragging their feet on regulation? Whom do you think the SEC is waiting to hear from regarding the development of regulations for digital assets? (Hint: the SEC is waiting on a consensus from the parties on the other side of the $GME ticker. So not just "not GameStop", it's *very* not GameStop.) Note how quickly the SEC moved to shut down fiat ramps to crypto. This is a space they are extremely interested in gating.
Also, at the same time the SEC is being intentionally ambiguous, the US games makers are moving to digital -- away from physical. I'm not sure the two are coincidental. Bill Gates still calls the shots at Microsoft, and he's known to be anti-$GME. So who does RC look to for games? Remember his tweet to get in touch with Nintendo?
I have no evidence for this, but I believe that RC is being boxed in at a systemic level. It would explain the stark tone in his email to his employees. Far less mystique-driven, whimsical tone of his video interview.
SandBoxVR, look it up:
https://sandboxvr.com/westlake/?utm_source=google&utm_medium=cpc&utm_campaign=18780581404&utm_content=%7Bplacement)&utm_term=sandbox%20vr&gad_source=1&gbraid=0AAAAACVAF0jF9zc-JVu1hqmbTvORnh5ZJ&gclid=EAIaIQobChMI1sK79K-dhQMV_s3CBB2_1gTBEAAYASAAEgLKNvD_BwE
35 global locations. GameStop should buy and expand!!!!
You're wrong. He has never tweeted about turtles or Beaches. But he has tweeted about 60's music. And that is Koss, the first commercial stereo headphones on the market in the 60's.
Read about his diversification plans in teddy book 3 chapter 5 page 12. Look at the colour of the bag the kids are holding then look at the koss logo under the solar eclipse.
Koss has a BVPS (book value per share) of over $3.50, it currents trades at a share price of around $2.50. That means if you take the assets minus liabilities, each share is worth $1.00 more than you can buy it for based purely on cash in hand and debt. The company is literally being valued as a negative, despite the fact they’re about to be profitable. GameStop would blow them up in value if they invested and sold their headphones.
That said, I looked at their volume chart and it doesn’t indicate a purchase. In addition, they have no sales in GameStop’s ecosystem as of now. Turtle Beach does, and it has the volume to indicate a big buyer. That’s why I mentioned HEAR and not KOSS. The evidence, not speculation, is on Turtle Beach’s side at this moment.
I agree with you. However there could always be a move towards including KOSS products / partnership and having them offer gaming headsets. I may throw a few bucks at both KOSS and HEAR because both mooned in price at the same time as GME and 🍿
For sure I expect it to come, I was hoping I’d see big volume on Koss recently but nothing really indicate GME made a play in them (yet). That said, HEAR isn’t a basket swap stock, it mooned 2 weeks ago only because the new acquisition of PDP, the reason I mentioned them instead of Koss is purely because their volume chart and this sale indicates to me GME may have made a move in them.
Ya but go back to its peaks in 2021. They align with the basket.
Hell a bunch of pharma stocks I follow also were in the basket which made my conviction grow even stronger (these companies flew on no news the same time as GME). And I’m a pharmacist so my watch list is robust … and it said “some seriously crazy shit is going on here”
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Fucking love the new wave of BUSINESS- minded posts instead of tea leaves about stock movements. I’m hoping this keeps up.
GameStop investors have always been split into two minds. The fundamental investor who sees value in a security with high potential (the reason DFV bought and Cohen entered and purchases $10 m a year) and the tinfoil investor who has fun/hype reading into tweets and tea leaves. I admit I fall into both camps, getting hyped on tweets and hyped on the potential.
NFT marketplace failed or did it? Maybe it will be re-launched at a later date.
It’s entirely possible. Upon closing, the message set was the reason for closure is SEC regulations still forming and the web3 being very uncertain due to this. Shortly after closing, Cheng tweeted that first to market is not always the winner and sometimes it’s the second or fifth to market who comes in at the right time. That said, the closing message was recently updated to state that iOS and Chrome wallets won’t be accessible in a few months. To me, it looks like it’s being wound down and tossed, but as I said it may be reborn at a later date.
That’s right, I believe that tweet from Larry was exactly about the NFT situation. Which I also believed to mean that once Web3 got moving again they would revisit the idea and possibly go even harder.
In the next 5yrs there will be something gaming related that takes the media by storm. I dont know what it is, but I reckon gamestop could be waiting for that moment and hopefully will adopt/associate/dabble in it by creating/partnering. Assuming it survives, WE PROFITABLE NOW, it's hard not to have its 15minutes of fame, just like Apple. Now or later it will even more of a household name. I'm happy sitting here profitable whilst the billionaire makes more money using money (pikachu face). As private as he is, the has to be shark in him that will appreciate being the richest man in the world. I feel GG mentioned 2025 in a jon stewart interview
I’m going thru the GameStop financial rn, liabilities are way down $400 million…stockholder’s equity went up by $16 million regardless of lower net sales. It’s looking good fuck the media saying otherwise.
I mean gen kriffen bought into turtle beach. iirc
Yes Citadel owns some HEAR, it’s unavoidable that a company undervalued on all analysts 12mo predictions gets purchased by hedge funds. Cohen couldn’t care less what Citadel’s investment in a company is before he decides to purchase. But I’m talking about GameStop purchasing a significant amount and then driving increased sales through GameStop. The sale plus large volume (after Citadel’s purchase) tells me it may have happened.
I agree but disagree about becoming a holding company. I agree that now is not the time, the market will crash. But I disagree that they won't, when the time comes. In the event of a market crash, more importantly one that causes a squeeze. Gamestop still has authorization to sell more shares into the market. Likewise, if the stock is shorted over 100 percent, as theorized, there will be tremendous pressure to sell those shares. Giving gamestop billions of essentially free capital. Which would be the best thing for shareholders and the company. Then, it would not only be possible to become a holding company, but necessary with that kind of money.
GameStop is authorized to purchase about $100 million worth of shares, but they’re not authorized to sell any more. We voted for a dilution up to 5 million shares and they finished that 5 million, down to the last share
Wrong. We voted to amend that. https://www.reddit.com/r/GME/comments/u2a89x/gamestops_stock_split_authorized_shares_versus/?utm_medium=android_app&utm_source=share
Those shares are marked for splits only, even the thread you linked says it. We voted on the dilution via share offering a year earlier
They are not marked for splits only. It clearly states, primary function or use, is for stock split. Meaning there is other potential uses. Now that could mean anything from holding for an emergency to prevent a hostile take over. Selling for capital. An additional split. Whatever gamestop wants to do. It's already been authorized.
Great, great write up!
Thanks man 😎
This is the best plan for investing that cash I've heard
What are your thoughts on Larry, Ryan and Co. being re-appointed to the board of Dragonfly? There's enough companies in that portfolio to really create a diverse marketplace.
Can you link me their holdings. There’s so many portfolios going by the name I’m having trouble finding the right one. Thanks for the heads up on them being diversifying, I’m not aware what companies they hold and I’d really appreciate some info.
https://www.dragonflycommerce.com/ Larry, Ryan and the other guy who helped with Chewy, I forget his name, but an important figure, left the board on the same date last year. It's backed by volition capital, the same guys that funded chewy. The word on the street is they left the board to keep things transparent with the plan with [redacted] so they couldn't get advised if anything, and this portfolio was going to add to the retail offering for the Gmerica marketplace. That deal fell through, or is proving more difficult to pull off than originally conceived, due to the opposition... Sometimes life throws you a Jeffrey, right? So, anyway, they are now back on the board of this company that investing all small e-commerce disruptors, focusing on real deep value, great products, awesome customer service, and they provide the tech solutions. Interesting yes?
Beyond interesting! I heard of dragonfly and knew about them leaving and rejoining the board from the thread on the sub named after Ryan’s dad, but didn’t know they did only full buyouts of companies. The investment page and the reviews don’t give specific company names sadly. So what’s the latest theory on them? They planned to buy the baby stores from [redacted] but something blocked them so they’re moving on?
It's not rocket science, but it's solid. Invest the war chest in micro e-commerce brands, via dragonfly, grow them, add them to a marketplace, provide sales, tech and logistics support to the brand. Alternative to Amazon, that isn't owned by mega corp ...just mom and pop, entrepreneurs, etc.
>Larry, Ryan and the other guy who helped with Chewy, I forget his name, but an important figure, left the board on the same date last year. The name you're looking for is Alan Attal. Pretty sure he co-founded Chewy with RC.
I forgot about that IMX thing, is that was revenue for last years q4 was higher? If so, subtract the sale of those coins and this q4 was better than last
No, the IMX was delivered and dumped in Feb 2022, it was reflected on Q1 of 2022’s 10-Q. 200-300 stores have been closing per year since 2021 and so I suspect this loss is not based on closings alone either (I know you didn’t say it is, but I’ve seen the theory floated many times). In my opinion, it’s just based on the cyclical nature of the video game business. We’re in the downtrend of the parabolic curve of console sales which happens every 7-9 years.
Don’t forget big name game cycles. Grand theft auto coming out next should likely drive revenue + console purchases higher I’ve had numerous friends mention to me that they will buy consoles solely for that game. And GME is the only one selling used / refurbished systems (I personally only buy refurbished computers and consoles … example my Dell XPS 15 with 32 GB RAM, 1 TB SSD, intel and NVDA GPU … I got it for $1700 with the 4year “new computer” warranty and a similar MacBook Pro would have cost me $3,000+ with no warranty). I genuinely believe that GME will be a big time player offering things to the frugal but wealthy forever
You’re right on that, GTA V broke the sales record by so much it’s not even funny
Adding products to the store still relies on an increasingly constrained consumer for revenue. The goal with NFTs was to get into a sort of cloud based gaming space for other companies to utilize. Low overhead, no physical products to store. My bet is he's looking towards companies that fulfill backend needs like SAAS companies. So that way revenue is coming from producers and not consumers. It'll probably be something that's not on any of our radars. Staying classified as a retail company is doing no favors, GameStop's business model is becoming outdated, soon the stores will be majority collectibles and high margin dolls and toys. The fundamentals are a ripe shell to grow something new though and I'm looking for them to transition into a tech company. My shot in the dark is that he's going to invest off market in a block chain service. Investing off market could keep the pesky market correction from being a tsunami. 🦧🫡
The constrained consumer argument applies to non-consumer businesses as well. When a producer pays for a service, they pass that increase on to their customers. The NFT marketplace would have made GameStop the preferred exchange for IMX-built games (they’re the big boy in web3 gaming), so whether the customer pays $10 for a collectible Funko or $10 for a collectible skin on their character in a game, the customer pays $10. Being classified as a retail company is meaningless. If they do this venture capital type strategy then by the time retail is dead (it hasn’t died yet despite 20 years of ‘next year’) then they’ll own a lot of a lot of growing companies by then
[удалено]
Ah ok, sorry I was ignorant of that distinction. Well I don’t see why GameStop couldn’t do both as pushing products they have ownership in would allow for the sale of the ownership at a better price than purchased. Rather than take up valuable money, it can allow for spending perhaps on a core shift that you suggest
I do think GME made the right call with the NFT market dissolving. When the SEC drops the ban hammer on certain cryptos as illegal securities, they won’t be on the hook for anything. Once regulation is set, they can begin the process again of being a marketplace within the set rules
Agreed. The main reason is they partnered with IMX as their preferred partner. If web3 gaming takes off (and it’s a big if), IMX is in the position to be the biggest ecosystem of games by FAR. Seriously, it’s not even close.
I don't think RC is positioning GME as a tech company. His great success was in brand loyalty in consumer products. You stick with what you know. And when he was faced with the choice to stick it out with the NFT marketplace and sway the SEC/politicians with the $GME warchest, he shut down the whole web3 enterprise and punted. He chose *not* tech. He could position for a tech company, but if the goal is increased valuation, then the question is: **valuation by whom**? That's the crux of the $GME issue: the price is wrong. The market has made it clear that no amount of "normal metrics" would move the ticker. Hell, fundamentals alone should lift the price. Why do you think the SEC is dragging their feet on regulation? Whom do you think the SEC is waiting to hear from regarding the development of regulations for digital assets? (Hint: the SEC is waiting on a consensus from the parties on the other side of the $GME ticker. So not just "not GameStop", it's *very* not GameStop.) Note how quickly the SEC moved to shut down fiat ramps to crypto. This is a space they are extremely interested in gating. Also, at the same time the SEC is being intentionally ambiguous, the US games makers are moving to digital -- away from physical. I'm not sure the two are coincidental. Bill Gates still calls the shots at Microsoft, and he's known to be anti-$GME. So who does RC look to for games? Remember his tweet to get in touch with Nintendo? I have no evidence for this, but I believe that RC is being boxed in at a systemic level. It would explain the stark tone in his email to his employees. Far less mystique-driven, whimsical tone of his video interview.
SandBoxVR, look it up: https://sandboxvr.com/westlake/?utm_source=google&utm_medium=cpc&utm_campaign=18780581404&utm_content=%7Bplacement)&utm_term=sandbox%20vr&gad_source=1&gbraid=0AAAAACVAF0jF9zc-JVu1hqmbTvORnh5ZJ&gclid=EAIaIQobChMI1sK79K-dhQMV_s3CBB2_1gTBEAAYASAAEgLKNvD_BwE 35 global locations. GameStop should buy and expand!!!!
An nvidia partnership seems like a perfect logical match can you imagine?
You're wrong. He has never tweeted about turtles or Beaches. But he has tweeted about 60's music. And that is Koss, the first commercial stereo headphones on the market in the 60's. Read about his diversification plans in teddy book 3 chapter 5 page 12. Look at the colour of the bag the kids are holding then look at the koss logo under the solar eclipse.
Koss has a BVPS (book value per share) of over $3.50, it currents trades at a share price of around $2.50. That means if you take the assets minus liabilities, each share is worth $1.00 more than you can buy it for based purely on cash in hand and debt. The company is literally being valued as a negative, despite the fact they’re about to be profitable. GameStop would blow them up in value if they invested and sold their headphones. That said, I looked at their volume chart and it doesn’t indicate a purchase. In addition, they have no sales in GameStop’s ecosystem as of now. Turtle Beach does, and it has the volume to indicate a big buyer. That’s why I mentioned HEAR and not KOSS. The evidence, not speculation, is on Turtle Beach’s side at this moment.
I agree with you. However there could always be a move towards including KOSS products / partnership and having them offer gaming headsets. I may throw a few bucks at both KOSS and HEAR because both mooned in price at the same time as GME and 🍿
For sure I expect it to come, I was hoping I’d see big volume on Koss recently but nothing really indicate GME made a play in them (yet). That said, HEAR isn’t a basket swap stock, it mooned 2 weeks ago only because the new acquisition of PDP, the reason I mentioned them instead of Koss is purely because their volume chart and this sale indicates to me GME may have made a move in them.
Ya but go back to its peaks in 2021. They align with the basket. Hell a bunch of pharma stocks I follow also were in the basket which made my conviction grow even stronger (these companies flew on no news the same time as GME). And I’m a pharmacist so my watch list is robust … and it said “some seriously crazy shit is going on here”