Author: u/rensole
Good morning San Diago,
I am Rensole,
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None of this is financial advice.
Episode IV: A new hope
First of all I want to thank each and every one of the people who joined us here. In my mind this entire thing has never been about one person, or a few, but always thought The whole is greater than the sum of the parts. but the feedback we have all received yesterday was amazing. Iâm extremely thankful for the continued trust this community has given us, and Iâm extremely humbled by it
But I want to make it clear that none of us are to be looked at as some sort of âmessiahâ or âleadersâ, we are just the same people from the same tame trying to do the best we can, and we can only do posts and get our information that we are good with and depend on the others to do their parts. And please, let my former mod team be at peace, we may not have parted ways on the best terms but they did put in a lot of work and deserve some respect imo, and I have no ill will towards them.
Iâd also take a moment and extend my gratitude to r/Spielstopp for giving me the opportunity to post my side, also mein freunde danke darfur !
Now we all had some experiences in r/GME and I like to learn from SWOT and this has lead me to an idea. instead of having 1 mod who does the banning, or 1 mod who does all the DD checking where asked, why not set up teams?
my thought was this, simple and easy, give mods flair to match so people know who they need to reach out to at a moments notice, making it easier to contact mods for specific reasons.
This does not mean the mods would be limited to just that one role, it means we have a full team, and they would be specializing in stuff but can still help out across the board.
For example Pixel warden and I will be on DD checking for the most part as we are better with that then we are with sub maintenance. so we will have yellow. (just an example)
Let me know what you guys think.
Also one thing I want to be very clear about, there is no petty rivalry or animosity between r/gme and r/Superstonk itâs always been about the stonks and it will remain so. cross posting is a 100% ok, because itâs not about where we are but who we are. ape donât fight ape.
So lets all move forward with one singular goal, the stonk.
Now letâs get onto the real news shall we!
Given the current situation itâs easy to spread FUD, please play no heed to this as per usual, we are not splintered in any sence of the word we are just merely on more subs now
Nothing changed, and we are still the same community, just spread across multiple boards.
u/Scalpel_Jockey9965 Did a great write up on the new OCC filing SR-OCC-2021-004
This new rule change amends the Options Clearing Corporation (OCC) Rule 1104.Whatâs really interesting about this rule is that it provides an order of events in the case that an options clearing member is suspended.
When an options clearing member is suspended, their current positions are then auctioned off to other OCC members. The proceeds from these auctions are then used to close out their other high risk positions.
Guess whoâs a OCC member? Shitadel!
Normally a liquidation was by invite only, but with the new amended rules it means itâs entire portfolio is up for grabs for any other member, this means in turn that the have a better chance of recouping their losses faster and easier, and also means they are currently preparing for war. (note Citadel has hired an ex SEC high profile dude, you donât hire a woodworker if you have no use for them)
u/c-digs did a great writeup of the new rules of the SR-DTC-2021-004 and SR-OCC-2021-801 in ELIA
(Explain It Like Iâm Ape)Â found here
it goes through what the 004-005 and 801 mean and how these all are inter connected so that they can use one to trigger the other. (for example, having a VAR assessment daily by using 002 then using the 801 to check the minimum requirements and use 004/005 to margin call them and liquify their assets in order to offset the financial requirements).
the new rulings are bullish imo and will cause a ripple effect.
We are currently still seeing the ripples from Archegos going on
How this will continue or what further affects it will have are unsure right now, but by having one topple usually means the next one isnât far off as the hedgefunds are interconnected to one and other but in what sense they are still remains to be seen.
Game stop 3.5 million share offering
So I wrote about this yesterday as well but I would like to get it in the daily just so that we have a good overview and amend it where needed.
GameStop Announces At-The-Market Equity Offering Program
Company Can Sell Up to 3.5 Million Shares and Intends to Use Any Proceeds to Further Accelerate Transformation and Strengthen Balance Sheet
GRAPEVINE, Texas, April 05, 2021 (GLOBE NEWSWIRE) â GameStop Corp. (NYSE: GME) (âGameStopâ or the âCompanyâ) today announced that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission (âSECâ), under which it may offer and sell up to a maximum of 3,500,000 shares of its common stock (the âCommon Stockâ) from time to time through an âat-the-marketâ equity offering program (the âATM Offeringâ). The Company intends to use the net proceeds from any sales of its Common Stock under the ATM Offering to further accelerate its transformation as well as for general corporate purposes and further strengthening its balance sheet. The timing and amount of any sales will be determined by a variety of factors considered by the Company.
Common Stock will be offered through Jefferies LLC (âJefferiesâ), which is serving as the sales agent. Jefferies may sell Common Stock by any lawful method deemed to be an âat-the-market offeringâ defined by Rule 415(a)(4) of the Securities Act of 1933, as amended, including without limitation, sales on any existing trading market. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices. As a result, sales prices may vary.
GameStopâs prospectus supplement filed today supplements information contained in the accompanying prospectus contained in the shelf registration statement on Form S-3 (File No. 333-251197) for the offering of Common Stock. Potential investors should review the prospectus, the prospectus supplement and all other related documents that GameStop has filed with the SEC for complete corporate information, including information pertaining to the ATM Offering and the risks associated with investing in the Company. Investors can obtain copies of the prospectus supplement and the accompanying prospectus by visiting the SECâs website at www.sec.gov. Alternatively, potential investors may contact Jefferies, who will arrange to provide them these documents, at: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at (877) 821-7388; or by e-mail at Prospectus_Department@Jefferies.com.
Please note that this press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Companyâs Common Stock. In no event will the Company sell more than 3,500,000 shares of Common Stock under the ATM Offering, and aggregate gross proceeds will not exceed $1,000,000,000. There will be no sale of Common Stock in any jurisdiction in which one would be unlawful.
About GameStop
GameStop, a Fortune 500 company headquartered in Grapevine, Texas, is a leading specialty retailer offering games and entertainment products through its e-commerce properties and thousands of stores.
Cautionary Statement Regarding Forward-Looking Statements â Safe Harbor
This press release contains âforward looking statementsâ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally, including statements about the ATM Offering and the use of proceeds therefrom, include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as âbelieves,â âplans,â âanticipates,â âprojects,â âestimates,â âexpects,â âintends,â âstrategy,â âfuture,â âopportunity,â âmay,â âwill,â âshould,â âcould,â âpotential,â or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Companyâs business and financial results are included in the Companyâs filings with the SEC including, but not limited to, the Companyâs Annual Report on Form 10-K for the fiscal year ended January 30, 2021, filed with the SEC on March 23, 2021.  All filings are available at www.sec.gov and on the Companyâs website at www.GameStop.com.
This is an UPDATE to their previous filing on Dec 2020 capping at $100 mill to now $1 billion.
See here point number (2)
They didnât sell a single share from that previous filing at $300, $400, $500.
Credit:Â https://reddit.com/r/Superstonk/comments/mki58e/this_is_not_a_new_offering_it_is_an_update_to_a/
Itâs not a new offering and it doesnât mean theyâll be initiating an offering. Theyâre simply expanding the ability to offer. It also means that they can sell for up to $1,000,000,000 now instead of only $100,000,000. I believe this means theyâll offer when the price is incredibly high to maximize share price for fewer shares.
See it as a guy offering his car for 100 bucks, only to realize itâs worth way more and ask 1500 for it.
EXCELLENT!
Be friendly, help others!
as always we are here from all different walks of life and all different countries.
This doesnât matter as we are all apes in here, and apes are friends.
Doesnât matter if youâre a silverback a chimp or a bonobo.
We help each other, we care for each other.
Ape donât fight ape, apes help other apes
this helps us weed out the shills really fast, as if everyone is helpful, the ones who arenât stand out.
remember the fundamentals of this company are great, they should be above the current price point, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals.
There is no sense of urgency, this will come when it comes, be a week, be it a month be it six.
We donât care, just be nice and lets make this community as Excellent as we can!
Remember none of this is financial advice, Iâm so retarded Iâm not allowed to go to the zoo âcause theyâll put me in the cage with the rest of my ape brothers.
If anything happens throughout the day I will be adding it here.
backups:
https://twitter.com/HeyItsPixel1
https://twitter.com/warden_elite
https://twitter.com/RedChessQueen99
And Iâll be posting updates as they happen here:
Edit 1:
u/uberfunstuff was kind enough to post this so I thought Iâd include it here as well.
