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This company has had questionable mgmt in the past; but this - this is Poster Child Third World level Corruption on full display. The sooner ownership replaced them with someone that can undo this quagmire, the better.
Dragonfly doji says to the upside, but this being a "meme" stock all normal behavior is out the window.
Turned into one clever slow rug-pull. Better get new mgmt if anyone wants to see this become a real company and not just a shell.
Ready to flip 100 into support ~ then it's a whole new ballgame.
It's the major threshold to break (and stay above) initially, for a number of reasons.
Need to finish at or above the psychological 100 mark today.
The quick napkin math on figures provided (4,390,000 shares short; $16 move / Mill shares), there's 11.7964% short. If all those positions get closed out (cumulative, not all at once necessarily) = approx a $70 push north. I'll take that.
Back to trips by May at the rate of decay. Party's over.
Doesn't seem to be headed to $25. Am I looking at the right chart?
Kind of ironic a company named GameStop should be the one putting a stop to the games. I'm starting to enjoy the humor in this...
Not so much limited to gaming, but transforming from brick & mortar to an online marketplace where the virtual shelf space is unlimited, and the accessible customer base becomes global instead of local. It's a formula that's been followed and proven out many times. Dinosaurs either don't want to wrap their head around the viability of doing it or acknowledge it's happening.
Stick a fork in it ~ seen this movie a few times.
Let it go up and ride it back down...they should sell Duncan Yo-Yos at this rate.
May want to re-evaluate the average daily volume of that "crypto exchange" in comparison to the real markets. Their volume is spit in the ocean in comparison - not, I repeat NOT a major contender. If anything, it's future bartering material.
Looks like GME may get a residual effect from the Nvidia split. Guess we'll have to see for how long.
33% drop and a shooting star doji with a really, really long tail. I wouldn't be popping any corks just yet.
Well looks there, up it goes again...just as called. Amazing.
Better check again on that...it's on an uptrend...again.
Are you implying it has no effect on the price?
Short interest had been increasing, so no moon shot.
Thanks for the ride ~ GLTA
If I'm right (and I may not be) they'll let it climb back up the water slide steps so we can go zippity up and down all over again. Ain't this fun?!
Yeah, they'd like like to get them back that cheap I bet lol. Meanwhile we play this oscillating game...
Guesstimating late August for anything significant ~ this is like paddling with a 1x1.
If I really had to venture a guess, I'd say the near-term goal was to satisfy back-salaries owed to the pre-existing executive staff (several years worth). Mostly paid out in shares in lieu of cash, so I guess this may be a move to fix that and then take care of some of the balance sheet debt. Now...who stays and who goes after the settle up is a good question.
While waiting for the other foot to drop, I note the following. The CUSIP number is changing, so the "entertainment" sector ID is dropping and is moving to another sector - unidentified as of yet.
If it's going the SPAC route, this is the problem I have. When an approved initiative goes sour, the funds go back to the voters ~ only problem is all the voting power belongs to 5 individuals...the executive staff. True shareholders stand to get zilch, in effect.
The R/S is okay, it undoes the past two increases which were ludicrous for a company this size. In contrast with maintaining the A/S at 5B, it allows for capital for M&A as the price appreciates, I have no problem with that. The second issue is the primary deal breaker.
I noticed on that filing Grinberg owns 3M preferred shares, but zero common shares. Not a lot of skin in the game as people were led to believe. What do you make of that?
So really no date has been set, they just have the green light 20 days after notifying all shareholders in writing.
Nah, I went on two day old posts here by Franyeld & Dylan, asking when the split takes effect and the answer given was the 19th.
No, you're misunderstanding. The split is Mon., yes. Prior to that, assuming the selling is done by, say, Thurs...etc...
I presume all the (panic/rage) selling should be done by then, and possibly some buying make-up shares Thur/Fri so the math works out when the split happens. Just a guess.
Guess we'll see how deep this gopher hole goes before Thurs. Better buckle up.
I don't see this as necessarily a bad thing. It pushes the price up for an uplifting; gets the share count to a more sane level; those two things combined make it start popping up on desirable stock screeners; nothing prevents a future split.
Having said that, what I don't like is all the voting power highly centralized among a few individuals in top mgmt - actual shareholders basically have no voice in matters.
/edit:. VR
Hate to say I told ya so, but...now here we are. VC still holds a lot of voting power with her 20M preferred shares - even more so after a R/S. Need more info.
Wouldn't mind one more .004 tap before liftoff, though. lol
Would like a little more insight on just what the game plan is here. Was checking the comparison between Spacs/Venture capitalist/Private equity...
I may be wrong on this, but looking for a NASDAQ listing in the eventual future may not be unrealistic - requiring minimum $5 valuation. I'm holding for the long haul.
Curious to see if municipalities (read that as social services and corrections) will be particular target clientele for the application of the Yuru system.
Long weekend coming up with this left hanging. Next week will be interesting.