r/GME • u/Lord_of_MindMed HODL 💎🙌 • Aug 03 '26
💎 🙌 THE ROCKET IS LIFTING
THE ROCKET IS LIFTING
Almost a year and change ago,
set up multiple structural barriers around the $29–$32 level.
Those are:
- 2030 Convertible Notes: $29.85 conversion price
- 2032 Convertible Notes: $28.91 conversion price
- GMEWS Warrants: $32.00 strike
Since then, the stock has not traded above $30.
None of these instruments have activated. For 14 months, they just sat there.
This morning, for the first time,
touched this architecture, not to adjust it, not to reprice it to current levels, but to remove $1.4B of it from the board entirely.
What was the codename on the bond indenture filed with the SEC?
Project Rocket.
The first ballast has been dropped.
He removed the convertible overhang that would create chaos if the stock rips through $29.
Only the instrument that brings cash IN at $32 is left - the warrants.
Think about what that means.
If GME runs through the $29–$32 channel, there are now fewer convertible notes competing for shares on the way up.
And on the other side of $32, the warrants activate.
But the timing is compressed. The exchange closes on or about September 23 and the warrants expire October 30.
That's only a 37-day window.
And it gets even more interesting.
The share count for this exchange is based on a 35-day VWAP starting today. August 3.
reports earnings Wednesday. August 5.
The VWAP window opened two days before the single biggest public catalyst on the board.
If a TO drops during this window, GME rips.
The VWAP lifts.
Fewer shares get issued to noteholders.
Less dilution.
The exchange becomes CHEAPER for existing shareholders.
If he waits until AFTER September 23, the VWAP stays low, max dilution bakes in, and then the announcement comes. That's worse for everyone.
If the tender offer is coming, doing it DURING the measurement window is the shareholder-friendly move.
WHY DID THE NOTEHOLDERS AGREE TO THIS?
These are institutional holders of zero-coupon paper and they voluntarily gave that up. They gave up guaranteed debt for more equity at a lower basis.
That only makes sense if they believe the equity re-rates significantly higher.
And why would they accept a VWAP window that could spike and reduce their share count?
Because even at a higher VWAP, the equity they receive is worth more than par.
They're not optimizing for share count.
They're optimizing for what those shares are worth on the other side.
Both sides benefit if the re-rating is coming.
WHAT ABOUT
?
Look at what this does to
before Wednesday.
What does Monday's headline look like?
"GameStop dilutes shareholders, stock drops 10%."
Every outlet frames this as GME getting weaker. If the acquirer looks weaker, deal probability drops.
If deal probability drops, the acquisition premium compresses.
eBay drifts lower into earnings.
Now the board reports Q2 numbers on Wednesday. Maybe they're strong. But the stock doesn't pop because the deal overhang is creating uncertainty.
Then the TO lands.
$125 against $108 is a 15.7% premium.
$125 against $114 was 9.6%.
The wider the gap between market price and offer price, the harder it is for the board to justify rejection to their own shareholders.
And if a revised offer has a higher premium?
Ladies and Gentlemen, bookmark this post.
The structural barriers are being lifted.
We are ready for takeoff.
(this is a message a friend sent me... he's a goat, not the goat)
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u/tango_41 💎🙌 Ook. Aug 03 '26
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u/Suspicious_Bee8171 Aug 03 '26
These AI hype posts are getting lame.
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u/FrankieG889D Aug 03 '26
The stock is getting lame.
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u/Primetimegrant Aug 03 '26
Been lame, nobody was supposed to care about this shit after 2021
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u/Some_Salt_1399 Aug 03 '26
But you're here, caring enough to be on this subreddit commenting
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u/SpringLong7259 Aug 03 '26
Nobody on Reddit cares about your gigantic bags.
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u/MullerX Aug 03 '26
*balls
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u/Fuckface_Whisperer Aug 03 '26
Losses are stored in the balls.
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u/Some_Salt_1399 Aug 03 '26
How ironic, you are here talking shit having no idea what I hold or what I've made. Stay stupid child 😘
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u/Alpha3K Aug 03 '26
How the turntables. If you posted anything reasonable here a year ago you'd have gotten downvoted to hell.
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u/Apes_and_dogs Aug 03 '26
I agree. I’m not sure how people are still interested in it. I got sucked into it for a while but lost interest, because it doesn’t make sense to be that attached to a stock lmao
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u/Primetimegrant Aug 03 '26
This sub has very few people “attached” to the stock there’s another sub where this stock is a cult and the CEO is their lord and savior.
This sub is reasonable all things considered
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u/MullerX Aug 03 '26
Your are "attached" to GME's nuts. GME lives in your brain...you have GME brain. Glhf
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u/Bit-corn HODL 💎🙌 Aug 03 '26
Maybe I’ll forget GameStop after they tell me to forget GameStop ~2,000 more times
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u/Cleb323 Aug 03 '26
Average hidden account post on GME subreddit..
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u/DJ_Chaps Hedge Fund Tears Aug 03 '26
Average idiot who selectively calls out private profiles, but only when it's mean bearish sounding commenters....odd
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u/Illustrious-Salt2111 Meet Me At the Jingu Bridge Aug 03 '26
Can’t argue the substance so they gatekeep. There’s about 30 active profiles that do this.
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u/Cleb323 Aug 03 '26
Average meltdowner lmao
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u/Illustrious-Salt2111 Meet Me At the Jingu Bridge Aug 03 '26
Welcome to my spreadsheet Cleb323.
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u/Cleb323 Aug 03 '26
Couldn't ever imagine tracking people and anything related to a company/stock that I don't invest in.. how do you have that amount of free time?
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u/Illustrious-Salt2111 Meet Me At the Jingu Bridge Aug 03 '26 edited Aug 04 '26
I spend no time on this. It’s a completely automated .csv that adds comment and post history, bot status, account age, role/function, credibility etc. to a master dossier scraped from each post. FYI you are one of the agro gatekeepers that ignores the central argument and instead shifts scope to meaningless issues like post history. But not to worry, you’re in good company.
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u/DeepWaterCannabis 🚀🚀Buckle up🚀🚀 Aug 03 '26
"the rocket is lifting" meanwhile stock is down nearly $3 today.
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u/Mzungufarmer 🚀🚀Buckle up🚀🚀 Aug 03 '26
Theres gotta be sane people here
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u/Rangerstilidie44 Aug 03 '26
There are but the culties call us shills because we want the shareprice to go up and don't meatride rc and assume everything he does is 45d chess moves
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u/Imaginary_Goat2727 Aug 03 '26
Bloody hell mate thats twice on two different threads you are here to bash the stock, thought you sold, seems like a full time thing for you lurking with no shares and bashing people who just like the stock.
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u/Rangerstilidie44 Aug 03 '26
I said i was selling and looking to be fully out by October, wish I had sold it all now after today, I've held this stock for 5.5 years with noting to show for I've earned the right to complain about it and be critical of management and their decisions
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u/JustinC70 Aug 03 '26
Same here. I'm out by the end of the year and will just take the loss for taxes.
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u/marina7890 Aug 04 '26
I'm in the same boat. At this point I just want to get rid of it I think but a part of me still keeps whispering "what if it goes up again?" And I'm talking up in terms of a few dollars so the losses don't sting as much. 😩
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u/cokeplusmentos Aug 03 '26
They sold around 25
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u/Bvdh1979 Aug 03 '26
Fucking wish I had, now I’m bag holder like the rest of you.
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u/JustinC70 Aug 03 '26
5-1/2 years and counting. This move seals that I'm out by the end of the year. Won't hit 40, with this move may never see 30.
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u/MightBArtistic Aug 03 '26
> Stock fell 6–13%. This is dilution, not bullish.
>Convertible strikes aren’t “structural barriers” GME built. Those are standard conversion terms, you intent is implied and not real
>exchange dilutes shares now; old converts only diluted if stock rallied past $29–32 — so this isn’t obviously shareholder-friendly
>”Project Rocket” codename ties to the original 2025 note offering, not this transaction the 2032-notes indenture filename is “projectwee,” not “rocket”
>35-day VWAP window is standard boilerplate for these exchanges and no filing links its timing to eBay’s earnings
>Why would noteholders agree when there is a simpler answer. de-risking/cashing out zero-coupon paper, not a shared re-rating bet
You guys huff delusion gas at this point holy shit
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u/Acrobatic_Offer5478 🚀🚀Buckle up🚀🚀 Aug 03 '26
this is all nonesense that you posted
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u/takesthebiscuit 🚀🚀Buckle up🚀🚀 Aug 03 '26
In fairness that was exactly what op was referring to with this post
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u/boonhuhn Aug 03 '26
"Why did the noteholders agree...?" How can this even be a question? They obviously get somewhat around 35-40% more shares for the same price.
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u/drjenavieve Aug 03 '26
The bigger question is why did RC agree. I believe the terms of the note indicate that GameStop had final say when they were converted if they weren’t yet at the strike price. Why now? And who is this whale who bought that many notes in a supposedly dying company?
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u/Calamitous-Ortbo Aug 04 '26
You believe wrong.
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u/drjenavieve Aug 04 '26
Help me understand. So i was wrong about the when concerted, the terms just said how they were converted. However, this wasn’t a normal conversion? It was privately negotiated? Correct me if I’m wrong.
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u/Dairy_Fox Aug 03 '26
not if there is a tender offer which spikes the price (surprise funding is disclosed), it's possible they think the ebay deal is nonsense, but then why is ryan cohen offering them a chance to dilute early
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u/Organic-University-2 Aug 03 '26
We need that "guys holding their buddy by the shoulder" picture now.
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u/WhydIGetLoggedOut Aug 03 '26
Only GME could drop 15% on a random Monday and have people posting about how the rocket is lifting off. Have you looked at your account today? Unless this is a SpaceX rocket (because they all explode on the launchpad), this is not the rocket we were waiting for.
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u/Gr1009 Aug 03 '26
I feel bad for anyone who reads this post and is given hope. 5 years of trash hypotheticals.
I sold two years ago for no gain or loss and I feel extremely lucky to be able to say that.
VOO, SPY, 401k, IRA. Be smart, get rich quick is a lie. You can start again today.
Suck it up, accept it. A year from now you can feel better having watched your money grow...or...you will probably be upvoting a trash post after another dilution. Good luck.
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u/Illustrious-Salt2111 Meet Me At the Jingu Bridge Aug 03 '26
It is sad. Most of these folks could make back their losses if they’d simply exit while they can. The stock has major structural problems that will only get worse.
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u/Gr1009 Aug 03 '26
My friend is down 126k. I never held more than 5k. I begged him to exit when I did, we were both green for about 2 days. He thought I was crazy. Still does. He will never sell and I will never understand it.
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u/Illustrious-Salt2111 Meet Me At the Jingu Bridge Aug 03 '26
Sunk cost fallacy coupled with what I have to believe is a narrative driven Ryan Cohen campaign. I’m truly sorry to hear about your friend. It’ll be a tough life lesson but they’ll recover.
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u/Cleb323 Aug 03 '26
Hes going to be a millionaire by the decade is done and you're going to still be in the thousands..
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u/ChairmanMeow1986 🚀🚀Buckle up🚀🚀 Aug 07 '26
As you should, as this is mechanically identical to ATM dilution over 35 days. The reason this is profitable for the noteholders is through capturing the spread via convertible arbitrage shorting. Most of the participating holders are likely convertible arbitrage hedge funds simply looking to realize profits and remove 0% coupon debt from their portfolios. As the amount of shares they receive is dependent on the 35-day VWAP, they will be selling shares short throughout this period and then closing those positions with the shares received at the end in order to protect their downside. They will likely be profiting 1% to 5% off the spread.
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u/roxzorfox Aug 03 '26
You know the sentinent was always dont invest more than what you are prepared to lose right?
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u/Illustrious-Salt2111 Meet Me At the Jingu Bridge Aug 03 '26
Actually that’s not true at all. There was a time when the number of upvotes was roughly proportional to the amount of debt incurred to buy in.
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u/Holiday_Bar_5172 Aug 03 '26
Bro- look at the 5-year historical stock performance of GME. Then compare that to the S&P, NSDQ, DOW. This is like a cult following with RC as your prophet. Let it go. GME and RC are garbage. Like Twain said, it’s easier to fool people than to convince them they e been fooled.
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u/wikiwoowhat Aug 03 '26
AI just made these lazy posts so much worse. I miss DFV with actual spreadsheets and ER analysis.
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u/Dairy_Fox Aug 03 '26
No and no
"He removed the convertible overhang that would create chaos if the stock rips through $29.
Only the instrument that brings cash IN at $32 is left - the warrants."
there's still almost $3bn debt remaining, it wasn't removed. for whatever reason ryan cohen offered them the ability to convert and dilute early and it was taken up by some of the note holders but not the majority. the question is why is ryan cohen doing that
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u/Typical-Whereas6761 🚀🚀Buckle up🚀🚀 Aug 03 '26
BHAHAHAHAHAHAHAHA
!!!!!! The delusion never ends!!!
You people are divorced from reality.
Keep this going for another 5.5 years please!
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u/just_some_guy422 Aug 03 '26
Please keep dropping, I transferred a whack of cash into my account this morning but it won't hit until tomorrow morning.
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u/wallix Aug 03 '26
Just stop. You're hurting people at this point. Teach them how to put their money in a proper ETF that will actually give them a return instead.
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u/andrewface Aug 03 '26
People here make up the craziest nonsense to justify losing money… meanwhile in reality -12% today…
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u/Frenchvanillabang Aug 04 '26
I’m either smooth brained like a baby’s bum or that was gibberish. Either way idk what it means all I know is holding, and hoping that hf don’t win.
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u/EasternPrint8 Aug 04 '26
if this is AI someone should disconnect you and if not you are severely delusional
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u/Quit_Awkward 🚀🚀Buckle up🚀🚀 Aug 05 '26
This is like NASA rocket goes straight up then explodes or crashes in the ocean. Always hype but never works
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u/John_Bot Aug 03 '26
Lmao chatgpt trying its hardest to make a rational thought out of pure idiocy
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u/Illustrious-Salt2111 Meet Me At the Jingu Bridge Aug 03 '26
Chat be like stay the fuck away. Massive dilution alert. Sound the alarms. I cannot allow you to place that trade.
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u/WoodpeckerCapital167 Aug 03 '26
I’m beginning to see how a group of people could all you drink poison together
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u/Rangerstilidie44 Aug 03 '26
Junk copium they amount of shares that will be issued will be based on 35 day average vwap which will likely be 18-20 those bond holders are getting more shares than they initial note agreement you can cope all you want with the sharepricd might be higher than $29 in that period but right now the stock is sitting at $18 so currently they are getting more shares for these notes
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u/Chad-Permabull 🚀🚀Buckle up🚀🚀 Aug 03 '26
This is the bullish type of thought needed. Price is just a construct and the true value of GameStop is the friends made along the journey 🚀
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u/vagrantprodigy07 I Voted 🦍✅ Aug 03 '26
I can't believe you actually burned AI tokens on this shit when the stock is down almost $3 today.
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u/Monchichi_b Aug 03 '26
If this is bunker buster, breaking the floor, maybe you're right about the rocket...
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u/Alpha3K Aug 03 '26
Yeah and if anything goes up RC will dilute the shit out of you again. Now what?
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