PLZ! we don't have enough money to pay for xbox live GOLD as I live I in Egypt and 10 dollars is 159.8EGP! And that's 2 much!!! Say anything except mods( I don't wanna get banned)
submitted by I have a 200-300 Mbps connection and both our NAT types on our consoles are open. I can't help but think these two problems are connected somehow, but not sure how. Hopefully someone can help.
submitted by On my ps4 I can play every single f2p game without ps+ (only f2p games) but my ps4 is broken at the moment, paragon is dead and there is no paragon on the Xbox so I wanted to play smite and I can play the tutorial bot AI game modes (conquest and so on) but every time I try to find an online game it says “need online mode”... so do I need Xbox live for smite? If so fuck Microsoft.
submitted by I tried to make it easy to skip around if you just want to see the financials or estimates. Just scroll to them if you don't care what the company is or their sectocompetition/management. TL;DR at bottom with final thoughts.
Introduction “
FuboTV ($FUBO) is an American streaming television service that focuses primarily on channels that distribute live sports, including NFL, MLB, NBA, NHL, MLS and international soccer, plus news, network television series and movies.
Launched on January 1, 2015 as a soccer streaming service, FuboTV changed to an all-sports service in 2017 and then to a virtual multichannel video programming distributor (vMVPD) model. As a vMVPD, FuboTV still calls itself sports-first but its expanded channel lineup targets cord cutters, offering a selection of major cable channels and OTT-originated features that can be streamed through smart TVs, mobile and tablets and the web. The service is available in the United States, Canada and Spain as of 2018."
From their
home page:
They are the only competitors in their space of digital sports broadcasting, offer 4K streaming and upscaling of live sports, cloud DVR capability ranging from 250 or 1000 hours on standard plans, and is available on Roku, Apple TV, Amazon Fire TV, Chromecast, Samsung Smart TVs, Xbox One, Android TV, Android Smart TVs, and Android/iOS smartphones and tablets, with plans ranging from $24.99/month to $79.99/month (not including add-ons).
They have also recently acquired one company and have made plans to acquire another to allow for in-house sports betting. They have stated in a press release that they plan to release a sportsbook before the end of the year. This will push them into a broader spectrum outside of only TV and sports streaming, and into the sports betting sector along with DraftKings ($DKNG), FanDuel ($PDYPY), and Penn National Gaming ($PENN).
Plans and Add-ons FuboTV offers three standardized plans as of February 8, 2021: the Family plan is priced at $64.99/month (normally $75.97/month), Elite at $79.99/month (normally $100.95/month), and Latino Quarterly at $24.99/month, along with offering additional add-ons. Each plan offers a range of channels, cloud DVR capabilities (which allows fast-forwarding through commercials), and casting to multiple devices simultaneously. Only the Elite plan does not offer a 7-day free trial (
Channels page). The Family plan includes 117 channels (mostly news and entertainment with roughly 40 that offer sports, including ESPN), up to 250 hours of DVR space, and casting to 3 devices at once. The quarterly prepaid includes a free upgrade to 1000 hours of DVR space and 5 casting devices at home with 3 on the go (
Channels page). The Elite plan includes 164 channels (includes an additional “47 entertainment channels”), up to 1000 hours of DVR space, and casting to 5 devices at home with 3 on the go. This plan does not offer a quarterly prepaid (
Channels page). The Latino Quarterly plan includes 250 hours of DVR space and can be streamed on up to 3 devices at once, but only has 32 channels. This plan needs to be prepaid every 3 months for a total charge of $74.97 and does not offer a monthly service (
Channels page). Upgrades include additional DVR space--1000 hours for an additional $6.99/month for the Family and Latino Quarterly--and increased device casting--an additional 2 devices at home with 3 on the go for another $9.99/month for the Family and Latino Quarterly plans. You can also add a variety of channels and sports packages (the Latino Quarterly has fewer channel add-ons compared to the Family and Elite plans, which both have the same channel varieties). Sports Plus with NFL RedZone is an additional $10.99/month, but includes all professional and college sports broadcasting services for football, basketball, baseball, hockey, tennis, fighting, etc. (
Channels page). Fubo has recently removed its former Standard plan, which included only 65 channels, up to 2 casting devices, and only 30 hours of DVR support for $60/month.
Financials and Growth Fubo has yet to file an annual report as they have gone public in October of 2020, but they have filed a
10-Q for Q3 2020. All numbers in thousands.
Assets-
Between December 31, 2019 and September of 2020, assets have increased from $368,225 to $799,313 (a 117% increase) . Total current assets increased from $17,973 to $58,016, but accounts receivable decreased from $8,904 to $6,975--this may be attributed to the increase in prepaid subscriptions which increased from $1,445 to $12,177 which shows strong customer satisfaction and retention.
Liabilities-
Liabilities have increased from $145,049 to $290,376 (a 100% increase). The largest contributors to their liabilities are “Due to related parties” increasing from $665 to $85,847, “Warrant liabilities” increasing from $24 to $28,085, and “Accounts payable” from $36,373 to $61,679. Long-term borrowings have decreased from $43,982 to $25,905.
Revenues-
Subscription revenues increased by $53,433, totaling $92,945 for the year. Total revenues including advertisements and licensing have increased by $61,202, totaling $112,669 for the year and an increase of 47% YOY. Q4 revenue is estimated to be between $94,000 and $98,000 which would be a 77-84% increase YOY.
Expenses-
Subscriber related expenses total $114,315 for the year. Total expenses have totaled $500,249 for the year.
Subscribers-
Ended Q3 with 455,000 paid subscribers, a YOY increase of 58%, and plans to end 2020 with over 545,000, an increase of 72% YOY.
Competition Its closest competitors are Hulu + Live TV (owned by Disney ($DIS)), YouTube TV (owned by Alphabet ($GOOG)), and Sling TV (owned by Dish Network ($DISH)).
Hulu + Live TV
- Includes league networks
- 50 hours of free DVR (200 hours for $9.99/month)
- More than 74 channels
- Unskippable ads on DVR without upgrade to 200 hours
- 2 streams at a time
- $64.99/month
- Can add ESPN+ and Disney+ for an additional $7/month
YouTube TV
- Includes league networks
- Unlimited DVR storage
- More than 85 channels plus YouTube Red Originals
- 3 streams at a time
- Sports Plus package for an additional $10.99/month
- NBA LeaguePass for an additional $40/month or $119.99 annually
- Starting at $64.99/month
Sling TV Blue
- Includes league networks
- DVR up to 50 hours (200 hours for $5/month)
- More than 45 channels
- 3 streams at a time
- Sports Extra package for an additional $11/month
- Starting $35/month
- Can be combined with Sling TV Orange for a total of $50/month
Sling TV Orange
- Includes league networks
- DVR up to 50 hours (200 hours for $5/month)
- More than 30 channels
- 1 stream at a time
- Sports Extra package for an additional $11/month
- Starting at $35/month
- Can be combined with Sling TV Blue for a total of $50/month
The vMVPD Sector Cord-cutting has become increasingly popular over the last few years with consumers dropping traditional cable and satellite networks in favor of streaming services--such as Hulu, Netflix, Disney+, etc.--and vMVPD services.
In 2019 alone, 6.3 million people cut their cable connection, totaling 39.3 million. In a survey of what they might miss most from cable networks, 52% said they don’t miss anything, 23% missed live events on TV, 22% missed news, and 19% missed live sports. Although not all of those that miss aspects of cable will pay for another subscription service, the sentiment exists for a sports-focused platform that offers other large networks as well.
Another report by Parks Associates reveals that 17% of vMVPD subscribers switched from traditional TV within the last twelve months. In the same report, a survey conducted on current broadband households determined that 43% were “likely to switch to a… vMVPD within the next 12 months." The potential growth exists for the live digital broadcasting space, although it is slowing down.
With the spread of COVID and quarantines, people have been spending more time at home. When things open and quarantines end, that will be the true test for these providers as people will spend less time watching TV.
The Sports Betting Sector Legal sports betting has taken a huge leap in recent years with the introduction of online sports betting; the ability to place wagers from anywhere at any time and have instant gratification has boomed with its slow legalization.
This sector has a forecasted value of $150 billion with other competitors already having a completed project and vast market share. In 2019, DraftKings ($DKNG) and FanDuel (PDYPY) controlled 83% of the market share.
FuboTV plans to join into this space with its own sportsbook. Their recent acquisition of Balto Sports in December of 2020, whose business was in simulating fantasy sports games, is Fubo’s first step into sports wagering. They plan to create a free-to-play gaming system alongside online sports wagering. Their next planned acquisition, which was announced in January of 2021, will be to acquire Vigtory, a sports betting and interactive gaming company. According to BusinessWire, they plan to utilize Vigtory’s “sportsbook platform and digital gaming assets, and its consumer-driven betting technology, to develop a frictionless betting experience for fubo’s customers."
These recent acquisitions set Fubo up to create an all-in-one viewing and betting experience, which could add new customers to their subscriber list and seal them into online wagering.
It has been over two years since the Supreme Court has denied the federal ban on sports betting, which would have made online betting illegal in all of the United States. Currently, more than two dozen states have legalized sports betting, but most have only legalized in-person betting. More states may be willing to legalize to take advantage of the increased revenues and taxes associated with gambling and online wagering. As of 2020, six additional states plan to legalize some form of betting, although some are only allowing in-person. There are an additional 14 states that are considering the notion to allow legal gambling, whether in-person, online, or tribal.
Management and Investors David Gandler - CEO / Director / Co-Founder
Appointed as CEO and director in April of 2020. Prior to Fubo, Gandler had a 15 year career in marketing and advertising in local broadcast and cable TV within both general and Hispanic markets at companies such as Time Warner, Telemundo, and Scripps Networks Interactive.
Alberto Horihuela - CMO / Co-founder
In charge of marketing, Horihuela was head of Latin America for SVOD service DramaFever.
Simone Nardi - CFO
Nardi has worked as SVP and CFO of Scripps Networks Interactive where he was responsible for the finance and strategic planning for the company’s international business. Was also a key player in refinancing TVN S.A.’s billion dollar debt.
Large Investors
- Islet Management, LP with 5,108124 shares
- Morgan Stanley with 3,317,333 shares
- FMR LLC with 1,262,907 shares
- BlackRock Inc. with 956,678 shares
- Merger with FaceBank for $100 million revolving credit
Analysts and Estimates Average analyst ratings put Fubo at a Buy to Strong Buy rating with an average price target of $45.50 with a high of $60 and a low of $30. EPS estimates are estimated to be -5.23 for 2020 and -1.64 for 2021.
Currently has a short float of about 75%, but the short volume has been holding at roughly 15-20% over the last month and has drastically declined from its October short volume of over 50%.
Originally valued at $700 million less than a year ago, a current valuation of $3.19 billion is respectable for this company and is on par for its current performance.
Risks - Marketing fails and Fubo is never known as a household name, so consumers stick with other more known providers
- Their sportsbook fails and becomes dead weight and wasted money
- Subscriber count and streaming drops as quarantine lifts, reducing revenues while maintaining expenses
- Consumers opt for cheaper options
- People paying for the sports package cancel when the season is over, creating a boom and bust cycle if not managed correctly
Final Thoughts / TL;DR With its drastic growth over the last year (400% in the last 4 months), support from FaceBank and well-known investors, and plans to join the sports betting sector, FuboTV has potential to become a household name and grow well beyond its current valuation by combining both sports broadcasting and online sports betting into one convenient place. Although unlikely to overthrow any of the current forces, it can become the best live sports broadcaster that people can turn to when they cut cable but want to keep live sports. It has many hurdles to overcome (creating their sportsbook, better marketing, increasing subscriber count, etc.) before it is any real competition to its already established competition.
At a $3.19 billion market cap and very high (75%) short interest, it will be very difficult to realize consistent growth, but it is on par for a company with almost $100 million in revenue.
My Position 25 shares at $47.30
Edit: edited final thoughts/TL;DR
Please provide feedback! First time actually researching and compiling information for a company and not just reading about them on here. Also, please ask questions to clear up any confusion; it was kinda hard to put everything together neatly, so I might have accidentally left stuff out or oveunder explained some things.
Hey all...I've been pretty exhaustively trying all the current streaming services. I know this is a Stadia group but I thought if anyone out there is curious about what the experience is like on other services, perhaps you could benefit from a layman's experience using each service and trying to make it my "main" service. Like I said, I'm a layman, not a professional reviewer, so there's a lot of things I'm still learning, but having tried all three of the major services, here's my thoughts.
Edit: Please bear in mind this is not an exhaustive list, just some thoughts based on a couple of months of on and off testing. I'm certainly not trying to sway or influence anyone's purchasing decisions, just giving some general thoughts that might help when trying to decide which service to look into. I know not everyone can get ahold of / rush out and buy all of the devices I have listed here - I happen to work for a tech company so I have a lot more devices floating around than most other people. Your mileage, of course, may vary!
I know there's also Steam Link, but since that requires you to have a PC capable of playing the game in the house somewhere, I'm not considering that a streaming service.
Testing Devices:
- ChromeCast Ultra (Stadia Only)
- iPad Pro 2020
- Asus G14
- Pixel 2 XL (xCloud only)
- iPhone 12 Pro Max (Stadia only)
- nVidia Shield (GeForce Now only)
- Samsung Galaxy Chromebook (Stadia only)
Amazon Luna
Notable Games: Control, lots of highly rated indie titles (Blasphemous, Bloodstained, Iconoclasts)
To be fair, I only have about 6 hours on Amazon Luna, but they've been pretty excruciating. My wifi averages about 75-90 MBps, and about half of the games I tried suffered from lag and graphical smear, mostly the Ubisoft+ games. The indie games played fabulously well. Luna is probably the service I have the least to say about. It's $6 a month for Luna on it's own, so it's kindof like the "also-ran" effort - it's cheap, but might be the most forgettable of the bunch. The user interface is better than GeForce Now, worse than Stadia, and unlike Stadia it doesn't seem like Luna can be enhanced with browser extensions.
I have Ubisoft+, so I tried to play Immortal: Fenyx Rising on Luna and it was absolutely horrible. Smeared graphics, dropped frames, input lag, the works. It was the only experience across all of the big three services that was literally unplayable. This seemed to be a problem only with the Ubisoft games, however, I have to stress.
Pros - Netflix-style game selection, with lots of indie titles you don't see many other places. Control is the only standout AAA title, and it looks and plays fantastically. Indie games were great too.
- Integration with Ubisoft+ is seamless and the games just become part of your library.
- Twitch integration is pretty cool - nice to see streamers who are playing the game live when you jump into the game page.
- Runs in the browser but also has dedicated apps - a plus for me.
- Luna is probably the best service for Twitch streamers - it's integrated right into the UI. I don't stream so I wasn't able to test it, but it seems pretty easy.
Cons - Seems to be in Early Access, so I literally don't know anyone else who has gotten an invite.
- The pro of having niche indie games is offset by the con of not having a wide game selection. Of all the services, seems like Luna has the least, but broadest, selection.
- Seeing an ad for Luna, WHILE PLAYING LUNA, was irrationally annoying. Amazon just can't freaking help themselves I guess.
- I signed up for Luna fully expecting to play all of my games claimed through Prime Gaming...literally none of those games are available.
- If there's a way to find Luna from the main Amazon home page, they've hid it pretty well. I'm sure it's buried in one of their dozens of menus but I could not for the life of me find a quick and easy way to get to Luna from Amazon dotcom.
- This is a very minor point, but Amazon Luna ONLY works on Chrome, while Google Stadia works in either Chrome or Edge Browser (since it's built on Chromium). Probably doesn't make a difference for most people, but to me Edge seems to run better, so I'm docking a point.
GeForce Now
Notable Games: Cyberpunk 2077, Control, Immortals: Fenix Rising, Metro series, Destiny 2 (all paid)
I picked up an nVidia Shield specifically for GeForce now, but my wife and I have ended up using it primarily for Kodi and to watch Netflix more than playing any games on it. I'll just say it straight out - GeForce Now sucks ass. It's a broken, shoddy, inconsistent mess. It's actually WORSE on the Shield than it is on PC, because there are so many times when I needed a keyboard to do anything. I tried playing Immortals: Fenyx Rising on GFN on my Shield which required me to log into Ubisoft+. I'm fine with that, since you only have to do it once...but using the Shield remote
that came with my Shield, the on-screen keyboard never popped up, forcing me to track down a second keyboard from in my garage and plug in. After I plugged in the physical keyboard....THEN the onscreen keyboard popped up and just mirrored what I pressed on the physical keyboard. What? Why?
Games are all over the place as well. Witcher 3 was a nightmare - every time you try to play the game, it wants to install the DLC packs onto whatever virtual machine you've been assigned. Then when you can play, it dips so far under 30 fps it's literally better to just play it on a budget PC with Hairworks off.
Plus the Shield ain't cheap - it was like $200 at Best Buy, and didn't include a controller. $100 more gets you a Series S, and $100 LESS gets you a Stadia-enabled Chromecast WITH a solid as hell controller, just for comparison's sake.
Pros - Raytracing, I guess. Control looks great?
- Links with Steam, GOG, and Epic, so you keep your games if the service goes down at some point in the future. Also technically "cheaper" overall than Stadia cos you can find cheap keys online or Steam sales (which seem to be more frequent than Stadia sales) and still get the game in your GeForce Now.
- GFN seems to have the widest selection of enabled games. Not all that impressive since you have to own the game already, but this does give it somewhat of an advantage.
- Links to Epic library, which is cool. 80% of my games on Epic were not GFN enabled, which is not as cool.
Cons - Literally the hardest of the big three services to use. Not a "pick up and play" experience. Requires a lot of effort to get working, and even then, inconsistent across platforms.
- Even on nVidias own hardware, it can be tricky to figure out what games actually are on GeForce Now and which aren't and get them running right.
- Some games just don't play well. Witcher 3 is a buggy, low framerate mess...while Control is smooth as butter. No rhyme or reason as to why. I couldn't get Mankind Divided to play full-screen - it always wanted to play in a window.
- Since you're just running a virtual machine, you still have to fiddle with graphical settings. Some games don't look right when first started, and you have to remember to go into the settings and change things to match whatever screen you're on.
- Twice I still had to wait in a queue to play even though I paid for the Founder's subscription. Insanely frustrating.
- One hour limit to gameplay if you don't pay for the Founder's subscription, and you're stuck waiting in a queue. There were times where I was in a queue of over 300, which translated to upwards of 18 minutes one session, waiting to play. I would go as far as to say, if you don't pay for Founder's, don't bother with GFN at all.
- Also, just because I don't have anywhere else to put this, Ubisoft's Cloud Save system is atrocious. This isn't nVidia's fault, I just want to complain about it.
Google Stadia
Notable Games: Cyberpunk 2077 (paid), Hitman: World of Assassination (Pro), Destiny 2 (Pro), Red Dead Redemption II (Paid)
Stadia is easily the best overall, but it still has its cons. I came to Stadia thanks to Cyberpunk 2077 so I have the most hours played on Stadia of the big three services. Stadia on the Chromecast Ultra seems to me to be the hands down best way to play streamed games currently.
Of all the services, Stadia was the one that felt the least like a "me-too" service and more like a dedicated platform. Almost all of the other services felt like a way for corporations to dip their toe in the water and figure out if there's money to be made, while Stadia feels like someone who really grasps and cares about gaming is at the helm.
Pros - Least barrier to entry. Download Chrome or Edge Browser, grab any bluetooth controller, and you're off the races.
- No subscription required. You can play any game purchased on Stadia without a subscription with no queue system, no picking a virtual machine, no Steam big picture mode...it's just, hit the Play button and go.
- This is a big one for me - seems to have the best "capture" integration. Though, the iOS / Android app could use work (just let me download the image and share it? Why do I need to share a link?) overall, sharing your snaps and vids is pretty easy on Stadia.
- Playing with the Stadia controller on my TV after picking up a Chromecast Ultra felt like magic.
- Similarly, being able to "pick up and play" games like Cyberpunk 2077 on a Chromebook felt similarly magical. The game looked its best, believe it or not, on a Samsung Chromebook that I tested at Best Buy. Random side note but the Google guy at Best Buy was SO EXCITED that I wanted to check out Stadia on a Chromebook. He was over the moon.
- The game selection for Pro does have some interesting titles that I wouldn't have picked up otherwise. But see Con 1 below.
Cons - The game selection for Stadia Pro is a tad lackluster at the moment. Definitely enough to keep me playing, but there wasn't really a "must have" title that jumped out at me. Bunch of average, quite playable titles
- The game selection for purchases is a little thin as well, seeing as how the service is over a year old at this point. I know it’s on literally every other platform but I would have loved to do a second play through of Control on Stadia, and stuff like Horizon: Zero Dawn, Hades, even some older indie titles like Transistor or Pyre, some of the Lego games...
- UI seems like an complete afterthought, which is a little weird since this is a Google product. This is solved a little bit by extensions like Stadia Enhanced, but that's a third party fix so I'm still listing it as a con. No search? Captures seem deprecated?
- Probably the highest "cost" to play, since you have to buy the games outright, and sales seem few and far between. If Stadia just vanishes at some point (which, let's be fair, Google has a track record of doing with their services) they haven't really outlined what happens to your library.
- No raytracing yet. Not really a con for me personally, but other services offer it.
- This may just be a bug but I'm listing it as a con - a number of times the Stadia homepage just wouldn't load. I was left staring at the Stadia logo wondering what was going on for minutes at a time. I'd have to close out of the browser and restart. Not sure if that's an issue with Chrome, but it seemed to happen on Edge browser as well.
- Stadia-specific versions of games. Now, hear me out - usually this is a PRO not a con, but in Stadia’s case it seems to be a con as making a wholly new build of a game for a specific platform probably just isn’t in the cards for a lot of developers. That could be what’s slowing down a lot of games coming to Stadia - the time and money required to build a new version of the game. Hopefully we see some “Stadia first” games that will convince other developers to jump on board.
Xbox Game Pass / Game Pass Unlimited / Gold / Live / Play Anywhere / xCloud / Whatever it's being called these days
Notable Games: Nier: Automata BAG Edition, Dragon Quest XI S, Dragon Age: Inquisition, Mass Effect Andromeda
Xbox Game Pass gets added to this list on a pure technicality.
So, technically Xbox Game Pass isn't a streaming service, but I include it because on Android, there actually is a "cloud" option for playing your console Game Pass library. The Cloud streaming works surprisingly well, but you're limited to either an Android tablet or phone because it doesn't seem to work properly on Android TV. I've heard you can sideload onto the nVidia Shield, but that was beyond the scope of what I was trying to accomplish with these reviews...I just want something I can pick up and play. So, yeah if you don't mind playing on your phone, Game Pass Cloud is actually probably the best of the bunch in terms of ease of use and game selection. There are so many things I want to play on Game Pass it's actually a little overwhelming. However, I don't want to stare at a 5" screen for hours to do so.
Pros - Wide game selection with lots of games being added every month (almost every week, seems like)
- Broad game selection - seems to be some standouts from just about every game genre. I know this seems like a repeat of point one, but they're very different things - it's one thing to just throw a ton of games on your service, its another to make sure you're representing every genre out there, which Game Pass seems to do more admirably than any other service.
- Streaming seems to work just fine. I was able to play Dragon Quest: Inquisition on my Android phone with very little issue. Couple of times the connection dropped, but it was no better or worse than Stadia.
- It seems like services are stumbling all over themselves to get included in Game Pass.
Cons - Again, inconsistent experience. Offerings are different on console than on PC...why is Torchlight III a console exclusive? Why are all the good games pushed to console and cloud, with PC being an afterthought?
- Games seem to come and go randomly - some popular games pop up for a few months and are gone, other seemingly niche titles have been on the service since launch
- Probably the biggest con - no streaming on PC, iOS, or Android TV. Baffling choice. Maybe there's business reasons I'm not aware of, but as a user, it's maddening.
- Minor point, but good lord Microsoft needs to simplify EVERYTHING related to Xbox. No one can figure out what the hell service we have when I try to talk to people about it - there's Game Pass, but there's also Games with Gold, then there's Live, then there's Game Pass Ultimate, but there's also Play Anywhere, which isn't really a service, just some sort of cross-play, And the number of times people thought I have a Series X when I actually have a One X was insanely frustrating as well. I know this doesn't have anything to do with the service, but jeez man why is everything Microsoft does so haphazard?
Whew! I actually had way more to say on this topic than I thought, I guess. I've probably spent more time and energy on this than I should have, but working from home has given me a lot of time on my hands, so hopefully my experiences can help save someone else some time and effort. Would love some counterpoints as well!
The Dude: It's like what Lenin said…you look for the person who will benefit, and, uh, uh... Donny: I am the walrus. The Dude: You know what I'm trying to say... Donny: I am the walrus. Walter Sobchak: Shut the fuck up, Donny! V.I. Lenin! Vladimir Illanich Uleninov! Donny:
What the fuck is he talking about, Dude? Hello again, GME Gang. What a fun day we had yesterday! Could it continue today? Only Melvin Capital (and maybe Ryan Cohen) knows!
And an extra special hello today to our newest WSB lookie-loo, Mr. Cramer (Can I call you Jim? I’m gonna call you Jim).
Now Jim, from what I’ve been able to gather, you and your Boomer stocks and your Hot Manic Takes don’t always get a lot of love around here. But that’s not
all your fault, Jim. The Paste-Eating Rocket Kids are often good for a solid meme (FYI: it’s pronounced “Mee-Mee.” Feel free to use that on air without verifying). But the Rocket Kids can be a dense bunch and they’re also often one click away from Total Financial Ruin (Quick shout out to SPCE: Pleas fly again). So you have to dig a bit in here to separate the wheat from the chaff, as someone like you actually says in real life. What the fuck even is chaff, Jim? And why do all Boomers seem to think that folksy farm-based idioms are the perfect way to conclude a thought?
Anyway. Those of us who watched your teevee clips last week where you reference your interest in WSB know that you, Jim Cramer, might be one of the Olds, but that you also Think Young(TM).
https://www.thestreet.com/jim-cramestock-market-advice-moderna-boeing-fed-ftc-dec-15. So we’re going to do our best to help your young-thinkin’ brain find the Needle In the Haystack here so you can get All Your Ducks In a Row on GME. Because we know that you’re a long way from being Put Out to Pasture, and though you may be an out-of-touch millionaire prone to facile yammering, we now
like you here, Jim—simply because you mentioned us and that made us blush a bit since we’re needy Millennials who just want our Boomer mommies and daddies to Tell Us They’re Proud of Us. So even though the Paste-Eating Rocket Kids here are often Buying A Pig in a Poke (Christ, please do not
ever say that or the kids’ Mee-Mees are gonna fuck you up), we appreciate you recognizing that, every now and then, there’s something worth paying attention to over in this weird little pocket of the Interwebs. And since you’re actually telling your loyal single-finger-typin’ viewers to check out this WSB shitshow, and “
if they’re running GME, then do some work on GME,” we assume you might actually be checking this shit out too, since all true Young Thinkers know that What’s Good for the Goose is Good for the Gander.
Now, is the GME play as solid as your recent recommendation to buy Bed Bath and Beyond? Who knows? That seems pretty stupid, and I would look it up myself this weekend but my nice little Saturday is already pretty full so I don’t know—I don’t know if I’ll have enough time. But I’ll tell you one thing: the GME play is
a lot more fucking fun. Life in a pandemic is boring, but here in this weird WSB place, these kids like fun. And for all your Boomer weirdness, you seem like you still like to have a little fun in this Mad, Mad world of ours. So consider joining us here more often. A word of warning, though: if you don’t like all the dern cuss words we use around here, Jim, well that’s just, like, your opinion man, and we’ll have you know that the Supreme Court has roundly rejected Prior Restraint.
First thing’s first: we have a bit of a bone to pick with you (now there
I go). The stuff you said last week about GME as the next Blockbuster was D-U-M dumb, Jim. You were a bit out of your fucking element with that. You even made our largest shareholder and conqueror-in-waiting, Mr. Ryan Cohen, send an emoji-only tweet in response, which if you know the super nice-guy Ryan Cohen like all of us do (we actually know nothing), that is pretty much the equivalent of him bringing his dog over to micturate on your and George Sherman’s rug.
Now, I myself have never been into the whole brevity thing, but I wanted to take this opportunity to get you up to speed on the GME movie you’ve wandered into. And I know you’re down with this because you told all your viewers that if WSB is talking about GME, then “make sure you know GME.” So before you say something Absolutely Mad again and Cohen sends a tweet with an even less ambiguous emoji, it’s high time that you start Making the Sure here, Jim. Just consider this to be CPT Hubbard delivering you some Orange Sunshine and turning you on to some of that Sweet, Delicious Non-Chaff Wheat you love so goddamn much.
Part 1: GME’s Bonkers-Ass Short Interest Now, I’m going to lead with the most crowd-pleasing part of the story here (Get ready, Rocket Kids!), and it’s the one that you did not even seem remotely familiar with in your “Stay out of GameStop, Deadbeat!” rant last week. Maybe that was by design or maybe not. We’ll return to that, Jim. But the point here is: the
short interest here is batshit insane. And not just your garden variety Boomer in Rolled Up Sleeves Ranting About Buying Estee Lauder While Hitting Buttons On The Beep-Bop-Boop Machine kind of insanity. Really and truly fucking nuts.
So to TL/DR this shit for you, Jim (to use the parlance of our times): GME is
the most shorted stock trading today—by far.
https://financhill.com/most-heavily-shorted-stocks-today How shorted? Well, the value of shares short exceeds the market cap of the company; there are currently
more shares short than the total number of shares outstanding. And when factoring in the institutional and insider ownership, the total short percentage of float is
nearly 300%.
https://www.gurufocus.com/term/FloatPercentageOfTSO/GME/Float-Percentage-Of-Total-Shares-Outstanding/GameStop-Corp Even higher, actually, now that Cohen’s interest is over 10%. Now, I’m not a numbers whiz like you, but that level of short interest and the small available float seems pretty fucked up to me. Like: “how is that even legal?” fucked up. And just for a frame of reference, the
third most shorted security right now is your beloved Bed Bath and Beyond, with a short percentage of float at a nice and tidy 69%.
Are you starting to gather why some of us in this weird little pocket of the Interwebs are a little excited about GME? You see, as
u/Jeffamazon and RodAlzmann
u/Uberkikz11 and others have explained in these here corners and on the twitter machine with their top-notch DD, and as I will translate to you in lingo you can dig, the short sellers got way over their skiis on this one expecting a bankruptcy in Spring of 2020 that never came. And yet, amazingly, the short interest has only
increased since then—there has effectively been no covering in the aggregate and, in fact, the short percentage has only
gone up. And now, on the threshold of 2021, we all sit atop a massive powder keg wondering what is going to be the thing that finally lights this shit up. And at the end of this little missive, I’m going to tell you what I think that thing might be (Spoiler: It’s Ryan Cohen! Better start getting used to seeing his name, Jim, because this dude does not fuck around and he’s not going anywhere).
https://www.reddit.com/wallstreetbets/comments/k4csaa/the_real_greatest_short_burn_of_the_century_part/ https://twitter.com/RodAlzmann https://thecollective.finance/2020/10/gamestop-gme-a-squeeze-to-44-from-14-can-be-justified-fundamentally-100-of-the-shares-are-short-watch-out/ Part 2: GameStop Isn’t Going Bankrupt and People Actually Want to Buy Shit There So, you foul mouthed little prick, a bonkers-ass short interest is neat and all, but why is Jim Cramer wrong when Jim Cramer compares GME to Blockbuster you might be asking yourself in the third person. First, the most obvious answer, Jim, which you should fucking know already: Blockbuster was
nearly $1 Billion in debt and missing debt payments left and right when it was delisted way back in 2010. That was also when there was a bit of a credit crunch, if you recall, right after that whole Housing Crash Unpleasantness that you saw coming from a mile away and from which you made hundreds of millions of dollars due to your contrarian foresight—I’m sorry, I’m clearly confusing you with Christian Bale starring as Dr. Michael Burry, weirdo head of Scion Asset Management, which also holds about 1.4M shares of GME (You really gotta start looking into this stuff, Jim. This story is made for TV, man—and you Boomers were raised by TV and you turned out TV!). Also, in 2010 when Netflix is ripping and when Blockbuster was about to be delisted and bankrupt, an analyst noted the obvious fact that Blockbuster had “nothing on the horizon that makes it look like Blockbuster is going to be more profitable.”
https://www.reuters.com/article/us-blockbusteblockbuster-wins-debt-reprieve-forced-to-delist-idUSTRE66052720100702 But Jim, if your Blockbuster comparison has any plausibility, GameStop must have a major debt problem then, right? And yet just last month GameStop
repaid $125M in debt several months ahead of time. It’s also really weird that over the past year management bought back a ton of shares, taking the OS from 102M
down to just under 70M (making a short squeeze even more likely, my Rocket Children). The weirdness continues with a soon-to-be-bankrupt company holding almost $500M in cash on hand. And according to George Sherman’s “Thine Omnichannel Shalt Be The Omni-est Channel of Them All” Conference Call following Q3, by March 2021 GME will have retired a total of $500M in debt and returned $200M to shareholders through stock buy backs. I’m no expert here, and I do not presently own a Beep-Bop-Boop Machine, but that’s all pretty weird shit to be doing if you’re about to go bankrupt.
No, no – I get it: who the fuck actually looks at balance sheets anyway before spouting off about what a stock is going to do? I sure as hell don’t. That’s why I follow my man
u/Uberkikz11, since that dude is a GME DD Encyclopedia and was born to crunch numbers. No, when Really Smart People make the Blockbuster comparison, it’s usually just Mouth Sounds for: A B&M Store That Used to Be Popular But Now Is Not Because Technology, QED. But here even the Really Smart People might be missing something as well. They’re right in the sense that GME must use this new console cycle window and cash influx to quickly pivot to a tech-first gaming company (more on that and our boy RC shortly!), but they’re wrong on the timing and relevance of this Super Smart Insight.
So fine, they’re doing ok on debt and cash. But who even goes to that 90s-Ass-Looking Cluttered Mall Geekery anymore anyways? I confess: in my darkest moments, as the short sellers manipulate the fuck out of this stock and I curse the names Bell and Sherman, I too have wondered this. But it turns out that, just like I have no idea why anyone listens to Maroon 5 or eats at Applebee’s, apparently a lot of people in America do shit that I do not. Crazy huh? So here is some pretty neat data showing us how out of touch we might be here, Jim:
First, when a pretty large sample size of people were recently asked the question:
which of the following stores or websites do you plan to buy holiday gifts from? The
#5 response from United States Americans was none other than
GameStop (Ticker, Jim: GME). Only Walmart, Amazon, Target, and Dollar Store (poor people buy gifts too, Jim) were ahead of little old GameStop. That’s higher than Nike, Macy’s, the Apple Store—and
double the response of Bed Bath and Fucking Beyond in every category they surveyed. Check it: (h/t to my man
u/snowk88)
https://stocktwits.com/snowk88/message/260983915 That’s kinda crazy huh? See Jim, when you Think Young(TM), you really can learn something new every day. And by following our man
u/snowk88 (@snowk88 over at stocktwits), I learn lots of cool shit. But guess who already knew that? The guy that wrote this bad-ass letter that identifies GME’s brand and customer data as being one of the most valuable things GME has going for it.
https://s.wsj.net/public/resources/documents/RC_Ventures_Letter_to_GameStop.pdf So now we know that Real Life People actually buy shit at GameStop here in the year of our lord 2020. But like that analyst from 2010 said about Blockbuster, there must not be anything on the horizon for GameStop to be more profitable in 2021, right?
Now, I will admit that being a bit bearish on GME in December of 2020 would make more sense if, say, GameStop were the nation’s largest purveyor of limp and half-lit pumpkin spice-scented candles and we were exiting the apogee of Shitty Candle Season. But as it turns out, GameStop is currently selling basically the most sought-after items that exist in the marketplace right now—where demand for the Xbox and Ps5 is far outpacing supply and is projected to continue well into 2021.
https://www.gamesindustry.biz/articles/2020-11-17-microsoft-expects-xbox-series-x-s-shortages-until-q2-2021 I don’t really need to get into the details on that here, because it’s pretty goddamn obvious, but I think 2020 GameStop at the precipice of a new console cycle might be in a bit of a better position than, say, 2010 Blockbuster relying on the latest Adam Sandler release to lift its sagging rental numbers. But I don’t know. Millions of people don’t watch
my show looking for Candid Analysis from me and
my folksy man-of-the-people-lookin’ rolled-up sleeves.
Part 3: Ryan Cohen is the Sword of Damocles Hanging Over the Short Sellers’ Dumbass Heads And now we’ve gotten to the best part. It’s my favorite part of all of this, Jim, and if you give this a little time, I think it will be yours too. You see, all that corporate bla bla bla about balance sheets and console cycles and early debt repayment and overleveraged short sellers and brand recognition is neat and all—and definitely worth a second look by itself. Maybe even a little Beep-Bop-Boop on the ol’ sound machine—I don’t know your methods. But the real thing that’s about to rip all our faces off here is the business and investment decisions of a mild-mannered wunderkind named Ryan Cohen.
Now you can revisit my prior epistle if you want to know a bit more about the involvement of Mr. Ryan Cohen in
Le Affair GameStop.
https://www.reddit.com/wallstreetbets/comments/kakxrm/gme_tribe_a_story_about_how_ryan_cohen_is_about/. My fly-by-night theory of his lawyer’s possible use of the consent solicitation could have probably marinated for another day, but the thrust of my argument there was that Cohen and his attorney have been laying the groundwork to come after GameStop for a while now. And that Cohen was likely emboldened by the humiliating, lame-ass CC performance by some dude with a mid-century comic-strip sounding name that we’ll all soon know only as: The Guy With the Punchable Face Who Used to Be CEO of GameStop.
But here is where things get really interesting. This is a story in the making, Jim, for fucks sake - take notes! This Monday, on December 21, Mr. Ryan Cohen filed a revised 13D showing that last week he started buying a shit-ton of shares—starting on Tuesday December 15th—which is
the day after the stock price inexplicably plunged on Monday the 14th and the very same day you were yammering on the teevee about GME being Blockbuster! Instead of listening to you, however, Cohen started buying more GME shares (super-sleuth dark pool watchers
u/rgrAi and
u/snowk88 noticed in real-time that there was some very large accumulation taking place), which culminated in the big reveal that Cohen purchased a total of 2,501,000 additional shares last week—500,000 of which were purchased on Friday December 18, 2020
at the price of $16.02 a share. Ryan Cohen is still the single largest shareholder of GME with 9,001,000 shares in total, taking his ownership of GME above the 10% threshold from 9.98% to 12.9%. And so he apparently thinks that the floor for his investment is $16.02 per share. Is he still buying? We’ll know soon. But yesterday seemed like a little taste of what it might look like if a large buyer steps in to prevent short sellers from manipulating all of my nervous little Rocket Children here and their delicate little paper hands.
There was another thing we learned from this 13D filing: Ryan Cohen has apparently hired a new attorney and law firm. Instead of the great Christopher Davis of Kline Kaplan, now Ryan Cohen is represented by Ryan P. Nebel, a partner with Olshan Frome Wolosky, LLP. Now, if you’re familiar with my prior ramblings, you might wonder if I was a bit confused, and maybe even a little sad, at this sudden change from my man C. Davis. And you might be a little right. But then the wonder of the internet allowed me to learn a bit about these new lawyers. And holy shit, things are about to get fun.
Now, I liked what I knew about Chris Davis and he seems like a genuine bad ass activist attorney. But the folks at Olshan Frome and Wolosky, LLP are Next Level Players and really seem tailor-made for this exact situation. First off, Olshan is ranked as
the top global lawfirm for Activist Attorneys.
https://www.olshanlaw.com/assets/htmldocuments/Bloomberg%20Activism%20League%20Tables%20H12020.pdf (H/t @flummoxed at stocktwits). They seem to be the go-to law firm for major proxy battles initiated by activist investors. But possibly even more important is that Olshan is the
same firm that represented Hestia and Permit in their successful proxy battle earlier this year to appoint two new directors to the GME Board. I’m not going into the fine details of that, because this is already a bit of a long-form Idiot’s New Yorker article, but GameStop just went through a proxy fight last year with Activist Investors Hestia Capital and Permit Capital, which resulted in two Board seats for our shareholder buds from Hestia and Permit. So, it’s reasonable to assume that the attorneys at Olshan might know their way around GameStop at this point and where the pressure points are here.
http://www.globallegalchronicle.com/hestia-capital-and-permit-capitals-two-new-directors-to-the-gamestop-board/ https://www.olshanlaw.com/resources-mentions-HestiaCapital-PermitCapital-GameStop-BoardofDirectors-ShareholderActivism.html And if you follow
u/snowk88 over at stocktwits (@snowk88)— you’d also find a wealth of DD on how Olshan rolls when entering these activist-investor-replaces-dumbass-boards-and-CEOs type disputes. To bottom line it:
they get it fucking done.
https://stocktwits.com/snowk88/message/266158534 https://stocktwits.com/snowk88/message/266155112 https://stocktwits.com/snowk88/message/266153175 But what else did we learn from the 13D? We learned that Ryan Cohen is definitely not going anywhere any time soon. Specifically, the filing notes that RC Ventures intends to continue to engage in discussions with GameStop’s board
“regarding means to drive stockholder value, including through changes to the composition of the board and other corporate governance enhancements." And while RC Ventures
“desires to come to an amicable resolution with [GameStop, it] will not hesitate to take any actions that it believes are necessary to protect the best interests of all stockholders.” I really like that last part, don’t you? And although I thought his November 16th letter was pretty goddamn clear, this 13D just ratcheted up the transparency level here. In sum, Ryan Cohen has all of our backs and he’s going to replace this Board and Sherman with people that are on the level and that will help implement his vision.
And now seems like a good time to return to those “Ryan Cohen: Boy Genius” articles that were definitely NOT part of a well-coordinated pre-hostile takeover media campaign initiated earlier this year. I think there might be a few things in those articles that Mr. Cohen wanted all of us shareholders (as well as the short sellers and the Board he’s about to replace) to really and truly understand. Recall also that Cohen is not one for diversification or for playing it safe. So here’s a few choice nuggets for you to ponder:
***
Bloomberg, June 2020:
https://www.bloomberg.com/news/articles/2020-06-05/chewy-founder-cashes-out-bets-on-apple-wells-fargo · "It's too hard to find, at least for me, what I consider great ideas," he says. "When I find things I have a lot of conviction in, I go all-in."
· Cohen uses the word “conviction” a lot. He says it’s something he learned from his father, who ran a glassware importing business in Montreal where Cohen grew up. “He taught me how to block the noise from the masses,” says Cohen. “To have a point of view and have conviction and not waver.”
· He wouldn’t, however, recommend his [non-diversified] investment approach to everyone. “You need to have the temperament to block the noise,” he says. “Sometimes it feels like a roller coaster.”
· He likens his obsessive focus on building Chewy to his approach to stock picking. "I don't want to swing for a single," he says.
***
You hear that, Jim? Our man Cohen likes idioms too! But fuck those farm idioms, Jim – we’re upgrading to the Sportsball kind now. So what’s the takeaway here? I’d say that Cohen has his Eye On The Ball and that it’s time for all short sellers and the Board to Throw in The Towel because Ryan Goddamn Cohen likes to Take the Bull By The Horns and will ensure that he Hits a Homerun for shareholders that believe in his vision.
Here’s a few more things Mr. Cohen wants all of us to know:
***
Forbes, August 2020:
https://www.forbes.com/sites/zackfriedman/2020/08/16/entrepreneur-chewy-founder-ryan-cohen-shares-his-best-advice/?sh=41e1370e5840 · “For me, each no sounded like they just didn’t understand my vision. It was frustrating at times, but never discouraging. Those ‘no’s never made me doubt my strategy – it was the opposite. I was motivated by all the rejections and they just got me fired up.”
· “I understood that thinking big was likely going to be misunderstood along the way. I’m contrarian by nature, so being misunderstood often validates what I’m doing. It wasn’t until Chewy boxes were on doorsteps across the country that the bulk of investors started to recognize our formula.”
· “[M]y biggest risk would have been not taking risk. The risk of going head-to-head against Amazon. The risk of insourcing fulfillment. The risk of building a company in Florida rather than a popular tech hub. The risk of spending $3 million a month on TV ads, more than Home Depot HD -0.1%'s budget. The risk of hiring expensive executives even though we weren’t profitable. These decisions were some of the most controversial and required me being comfortable betting against conventional wisdom, and were often contrary to the advice of my board. Suffice it to say, I was not the most popular board member.”
· “Dad never swayed when he believed in something. I never compromised my vision, regardless how many investors turned me down I was not going to give up on building Chewy into the world’s biggest online pet retailer. I love to be challenged, and I’m flexible on details, but I’m never willing to give up.”
***
Goddamn it, Ryan. I was done having children but now you’ve forced me into getting back on that train just so I can name this future child Ryan Fucking Cohen. Thanks a lot, asshole.
But to return to my point: are those the statements of a man that seems likely to walk away at this point? Or is Cohen trying to tell us all to get ready because he is going
All In on this shit?
So where does this leave us? After a huge week where Cohen buys 2.5M more shares and then the SP skyrockets to $20 yesterday on that news? Well, this is where I want to tip my cap to my man Justin Dopierala over at Seeking Alpha and allow him to conclude this section. He, along with his pal Dmitriy Kozin have been pretty clear-eyed on all this shit for a while now and they both deserve some credit. And I know I gave my main man Justin a bit of a hard time in my last novella, but the dude is sharp as hell and helped a lot of us see the forest through the trees here. And you should also definitely invite him to join your poker nights (seriously: check out the dude’s tweet in response to our own Rod Alzmann’s introduction of the #WeWantCohen hashtag right after the Q3 call debacle).
https://twitter.com/DOMOCAPITAL/status/1336446055685230592. You have no comment on a potential takeover involving Ryan Cohen, Justin after your hour-long googly-eyed call together? Can’t believe you’re just preemptively leaving the WSJ and Bloomberg hanging like that. Justin, I love you dude, but if I’m holding pocket Kings I’m folding after that tweet because that twinkle in your eye lets me know you’re about to drop two Aces on my ass.
Anyway. Here is what our man Dopierala thinks might happen here soon (and he called this way back on November 17th- and sorry - no links here, per the mods, as apparently no Alpha must ever be Sought from these parts):
I think a very likely outcome at this point is a majority slate next shareholder meeting where Cohen takes over BOD and then makes himself CEO. A majority slate proxy battle would require all institutions to call in shares and would force a squeeze. We’re intrigued, Justin. Please continue:
If Ryan Cohen successfully negotiates a purchase price with the Board then the shareholders will have to vote on it. Unlike the proxy battle where Hestia and Permit were running a minority slate of directors, an offer to purchase GameStop would force institutions like Vanguard and Blackrock to call in their shares. By doing so, the shorts would be forced to close out their positions and GameStop would finally have the greatest short squeeze of all-time. Ironically, Cohen could use this opportunity to sell all of his shares and use the proceeds to entirely fund the acquisition of GameStop going down as the first person in history to acquire a billion dollar company... for absolutely nothing. In fact, his acquisition price would be less than zero. And now is when I get to speculate on what I think is going to happen here. But I do not necessarily think Cohen is going to put an offer to buy GME to take private. That would definitely trigger a MOASS, but I’m not sure I see it given the attorneys he’s hired and his recent buys up to $16 and the amount of cash that would take. Like Dopierala’s
first comment, though, I think Cohen is going to nominate directors to replace nearly the entire Board of Directors with a vote happening at the annual meeting and once that Board is in place, they’ll appoint Cohen as CEO. And as Justin notes, if he nominates a majority slate of directors, shares will have to be called in to vote. And this vote and proxy battle will make the prior minority slate Hesita/Permit battle, and the tiny short squeeze that took place when that happened, look tame by comparison.
Now everyone: get your calendars out. Because the date to nominate directors here is in
Mid-March, and my super-smart corporate lawyer buds inform me that it’s standard practice to file about 7-10 days prior. So, if this actually happening, we should be seeing something on this by
early March.
But even though early March is now the mark on the wall, today’s insane price action caused me to think about all of this a bit harder and speculate a bit more. And a major h/t to my buds on the stocktwits board, especially
u/rgrAi (@amarbar) for all the sharp analysis on this. But if you were Ryan Cohen and you knew this company was hugely undervalued and you had a high level of
CONVICTION here and also knew you needed shareholder votes to sweep out these dumbasses and implement your vision—then how would you play this with the short interest here as crazy as it is? I’d keep buying. Why? Well, lots of reasons, you smart alecks.
First, so I have more guaranteed votes (duh?). Second, so that when the building starts burning and short hedge funds run for the exits they find that a mild-mannered Millennial with super-good ideas has sealed off all the doors and windows. That’s gruesomely delicious, isn’t it? Why else, CPT? Well, finally, and maybe most importantly, because I would want to excite and delight all my fellow shareholders by triggering a slow-burn short squeeze, raising the SP significantly, so that I can once again make the point (as he did in the Nov 16 letter) that the incompetent management that caused a
HUGE drop in SP following that utterly incompetent Q3 call and the shelf registration, had
nothing to do with the SP increase that again happened once Cohen announced his intent and started buying. Not the console cycle, not the cost containment measures, not the buybacks and not the early debt reduction. Nope: rightly or wrongly, shareholders will see Ryan Cohen buying shares and the corresponding SP increase and everyone—especially all new buyers who are delighted at their good fortune and swept up by Ryan Cohen Fever 2021—will start getting #WeWantCohen tattoos on their ass they’ll be so happy. And all of us, newly enriched by Ryan Cohen’s Big Canadian Balls and tactical brilliance, will crawl over glass to vote for him over The Boomer Artist Formally Known As GameStop’s CEO. I could be very wrong on this last point in particular, but if we start seeing 13Ds drop here shortly, things should get very fun very quickly.
Part 4: A Return to Our Short-Squeeze-to-Da-Moon Discussion: Who’s Side Are You Fucking On, Jim? Now, Jim, given the fast friendship we’re creating here, and all we’ve been through over the past 5000 words, I hesitate in bringing this up. But we’ve all seen the video, Jim. You know the one I’m talking about. Yes, the one where you actually tell the truth about how short selling hedge funds manipulate the market to knock down the price of perfectly good securities that many hard-working people
invest in—many normal-ass people all assuming they wont ever have to Point Where On The Dolly The Invisible Hand of the Economy Touched Them. But that’s not life now is it Jim? And fuck those poor-ass rubes for not knowing how to play the game with you sophisticated Masters of the Universe,
amirite?
https://www.reddit.com/dashpay/comments/93evx4/jim_cramer_reveals_dirty_tricks_short_sellers_use/ https://dealbook.nytimes.com/2007/03/20/cramer-market-manipulato So where are
you in this whole GME/Cohen story, Jim? You candidly (gleefully?) acknowledge that a prime strategy that shorts deploy is to spread negative rumors that are then amplified by Big Smart Trustworthy Financial Media Titans like yourself to shake out unsophisticated retail players like my Rocket Kids here—who because of their tiny paper hands and you mean short selling brutes often subsist on paste and paste alone.
So for this particular security, are you the one helping with the manipulation and actively creating the “new truth” or are you just one of the Useful Idiots that these short sellers use to manipulate with an anodyne, TV media-ready comparison like:
GameStop Is The Next Blockbuster? And how in the fuck does this fit into your Think Young(TM) project, Jim? Because if there is one thing that we over at WSB fucking hate, it’s a bunch of Manipulative Short Selling Boomer Fuckwads. Why on earth would a hip Young Thinker like you want to be included in that crew, Jim?
And I know we’re all friends here now, Jim, but I need to push back a bit on some of what you said in that video in such a cavalier whatareyagonnado manner. So if I understand you, short and distort and fomenting negative reactions from retail players based on deliberately false narratives is
illegal, but still easy as fuck to do "because the SEC doesn't understand it." But you fucking do understand it, Jim! So why are you helping those short and distorters break the law here? Why are you being such an obtuse dumbshit? Just check out what happens to the borrow rate and short selling every time there is any good news for GME:
https://stocktwits.com/Slantedangles/message/264519950 (h/t @slantedangles). This manipulation isn't just happening with GME; it is happening
everywhere. It’s baked into the cake. And that is pretty fucked up that we all just accept it because
whatareyagonnado.
I think that one thing that those of us who truly do Think Young(TM) have a hard time understanding is at what point in your lives do you Boomers all finally come to realize that it’s maybe time to stop playing the game like you have been? What point do you finally have enough where doing the right thing matters more than getting paid? Maybe start by telling the truth more often—and maybe don’t go out of your way to help those corrupt-ass hedge fund managers who continually fuck over average people
merely because they were stupid enough to believe you all. What contempt you Masters of the Universe have for all of them—for all of
us. There is a bigger story here on GME and this out-of-control short interest (naked shorting, counterfeit shares)
http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html than even Ryan Cohen and the inevitable short squeeze we’re about to witness here. And it begins and ends with people like you and Melvin Capital and Bank of America not giving a fuck about the rules while thinking you’re smarter than the rest of us who do—but who lack power to do anything about it. And you know what? Maybe you
are smarter than us. You certainly know how to play this game pretty well, as that video shows. But if I know my old school 1980s movies like I think I do, this is usually the part of the story where the rag-tag kids from across the tracks come over to show you hubristic rich fuckheads what happens when you fuck a stranger in the ass.
Now I myself have never dabbled in pacifism, Jim, so this isn’t too much of a stretch for me, but seeing that video of yours and seeing the insane short interest and all the manipulation here makes me want to burn the whole corrupt system to the ground—while barricading the doors to trap in those arrogant-ass short sellers who lie and cheat and distort to profit off average people. And though I’m certain that this larger battle is not driving him, maybe that result is one that Ryan Cohen wouldn’t mind too. Though he’s a polite Canadian and would probably just let everyone know that he’s not really mad, just disappointed. But me? I’m an Angry American and I say: Block the fucking doors and windows and light that shit up.
So maybe this epistle will be useful for your Think Young(TM) project and cause you to reflect a bit more on what’s really going on out there with this whole GME thing and the likely illegal shorting that has driven the short percentage of float to these insane levels, drawing in new retail shorts too stupid to know what’s even happening. Or maybe it wont cause you to reflect in the slightest (count me as one of those cynical types that see your overtures to WSB as a transparent play for greater market share from the Young Crowd since your old-ass audience is dying and/or switching to bonds). But in a few months when all the Billy Ray Valentines and Louis Winthorpes assembled here are toasting each other in stupid shirts on a white-sand beach somewhere, we do not want you to look back on your knee-jerk boomer-ass dismissal of GME and your Useful Idiot blathering with that same tinge of regret and longing you feel when you look at a pre-Client 9 picture of you and your old roomie: warm-toes-and-hosiery-enthusiast E. Spitzer, Esq.
In conclusion: GME = Blockbuster comparisons are for Simps and Corrupt Short-and-Distorters. Don’t be like them, Jim. And to my Rocket Children: the only weapon we wield in this stupid game is Diamond Hands with a float like this. Toughen the fuck up.
And Happy Holidays everyone.
--CPT Hubbard
TL/DR: Jim Cramer likes farm-based idioms and apparently being a useful idiot to scummy short selling hedge funds. DD on the GME turnaround is solid and overleveraged short sellers should be shitting themselves. Ryan Cohen, our polite, hard-working Canadian benefactor is about to rip all our fucking faces off and trigger a MOASS. Probably even by early March, if that time is good for you (he’ll text before he comes). And fuck infinite regress: It’s rockets all the way down here.
🚀🚀🚀 Now: diamond hands, motherfuckers.
**This is a shitpost and is only to be used as investment and life advice for Mr. Jim Cramer, Esq.
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