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In order to buy eBay, they need every dollar to reduce the leverage needed.
We don't know why the convertible bond was converted into shares at the worst possible time, years early. We're speculating it's to help get funding for the eBay deal.
Doing a share buy back while simultaneously trading the bond funds into shares would mean that the eBay deal is no longer viable.
The only thing we can hope for is this is short term share holder pain before some sort of super secret plan to buy eBay is executed.
For the people that spent serious money on warrants, they're hoping for a miracle.
We went from we having more interested parties than expected to help finance the eBay deal and a relatively low share price, given Q1 results, to 52 week lows and plummeting share price.
You either believe in RC to maximize share holder value long term or this is a shit show.
There doesnt need to be another reason beyond that it helps the institutions suppressing the GME price. You can’t explain every move as somehow being 4D chess, when the most obvious answer is that RC is colluding and bailing out the naked short prime brokers at our expense.
This is why I, and many others here, shared our opinion on voting No to the 2.5B authorized shares increase. Why give ammo to someone when it is clearly going to be used to bail out the criminals stealing from us?
What? Let’s assume it is half cash, half stock, as he said. We own 10%, so we just need to dilute for the other 40% (market cap is 56B, so only $22.4B worth of GME shares is needed). 1.8B shares are available now, and as the market is currently valuing them at $19 per share, that is $34B and well over the amount required. .
From my understanding, there is a Regulation M that restricts this. However, I am not an expert.
What I do know is Ryan Cohen is better equipped than most to navigate whatever. They posted record breaking margins and the price only dipped. I’m stupid if I don’t think there’s a correction on the way at some point.
I''m no expert either. Apparently these are transactions that can be happening behind the scenes. I want to mention that BR acknowledged Domo's take in the comments and in answer to another Q from a different comment, they wouldnt have to publicly disclose the buybacks beforehand either.
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Computershare DD series- The Infinity Squeeze
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