4 ms·

Surely (almost) everybody likes it when that happens? It's hard to have a less sympathetic antagonist than a filthy-rich hedge fund like Melvin that's trying t

Surely (almost) everybody likes it when that happens? It's hard to have a less sympathetic antagonist than a filthy-rich hedge fund like Melvin that's trying to mint even more money by crushing a company like GameStop that many people have fond memories of.

Someone1234 6y ago
This could literally save GameStop. They could (should?) perform a share issue, which would give them much needed capital to reduce their 485.50M debts and or allow a partial pivot (see Toys R Us's re-launch attempt pre-COVID). Regardless of short-squeeze Vs. "meme stock" this is good for GameStop if they capitalize on it.
- thaumasiotes 6y ago
  They did do a share issue.
  - Someone1234 6y ago
    When? They still have 69.75M outstanding shares, which you can see here isn't an increase: https://www.macrotrends.net/stocks/charts/GME/gamestop/shares-outstanding https://www.macrotrends.net/stocks/charts/GME/gamestop/share... They certainly haven't issued anything near the current price ($200+).
    - shawabawa3 6y ago
      apparently they have pre-approval to release $200m in shares, but perhaps are waiting for after the short squeeze to issue them (take this with a grain of salt, read from a /r/wsb post)
WrtCdEvrydy 6y ago
The issue is Melvin is a symbol of everything that is wrong with Wall Street. How can you short a stock to the tune of 140% of all outstanding shares, enjoy a lend ratio of 23% and then bitch and moan when people buy in and cause the lend ratio to blow up to 83%?
tarboreus 6y ago
You would think, but empirically that doesn't seem to be the case. People don't like it when some guy in suspenders makes a lot of money on his computer in a downtown office, but they really hate it when some schmuck down the street makes some money in a pretty much identical fashion. It's a class thing. It also goes against some kind of superficial common knowledge about the markets. If your cab driver (or local reddit goon) starts getting into the markets, you're supposed to get out and let the bubble boil over. But things are so bizarroworld right now that that wisdom doesn't really apply.

Someone1234 6y ago

This could literally save GameStop. They could (should?) perform a share issue, which would give them much needed capital to reduce their 485.50M debts and or allow a partial pivot (see Toys R Us's re-launch attempt pre-COVID). Regardless of short-squeeze Vs. "meme stock" this is good for GameStop if they capitalize on it.

thaumasiotes 6y ago
They did do a share issue.
- Someone1234 6y ago
  When? They still have 69.75M outstanding shares, which you can see here isn't an increase: https://www.macrotrends.net/stocks/charts/GME/gamestop/shares-outstanding https://www.macrotrends.net/stocks/charts/GME/gamestop/share... They certainly haven't issued anything near the current price ($200+).
  - shawabawa3 6y ago
    apparently they have pre-approval to release $200m in shares, but perhaps are waiting for after the short squeeze to issue them (take this with a grain of salt, read from a /r/wsb post)

WrtCdEvrydy 6y ago

The issue is Melvin is a symbol of everything that is wrong with Wall Street. How can you short a stock to the tune of 140% of all outstanding shares, enjoy a lend ratio of 23% and then bitch and moan when people buy in and cause the lend ratio to blow up to 83%?

tarboreus 6y ago

You would think, but empirically that doesn't seem to be the case. People don't like it when some guy in suspenders makes a lot of money on his computer in a downtown office, but they really hate it when some schmuck down the street makes some money in a pretty much identical fashion. It's a class thing. It also goes against some kind of superficial common knowledge about the markets. If your cab driver (or local reddit goon) starts getting into the markets, you're supposed to get out and let the bubble boil over. But things are so bizarroworld right now that that wisdom doesn't really apply.