I find it interesting that Patrick Byrne from Overstock was working with Trump at the White House towards the very end of his term.
It’s also interesting to me that Ryan Cohen’s first buy-in was shortly after Overstock issued a crypto dividend in an attempt to force the shorts to cover their positions. It could just be a coincidence but I think it gives credence to the idea that GameStop might issue an NFT dividend that forces the shorts to cover.
An NFT dividend also makes a lot of business sense. It’s a great way to immediately get millions of people using their new NFT marketplace.
Wow, i did not know Patrick Bryne was working with Trump.
I don't know if RC will release a NFT dividend. My opinion is the people have to cause this to take off, because then they can't blame one person (RC) and take him down. They can't sue millions of people for DRSing their shares. DRS seems to be the way to end this. Once the entire float is locked and DRSd, what happens then? RC gave cryptic hints to DRS, he couldn't say it outright. That's a huge tell.
At the last earnings report, they showed how many shares have been DRSd. That's a big tell also, that DRS is the way.
Edit: Also didn't Overstock get in trouble for releasing a crypto dividend? If a NFT dividend was released, wouldn't the brokers just provide a cash equivalence, since they can't provide the actual NFT?
Yes, Patrick Byrne was working with the Trump team very briefly I think in December or January. From what I recall it was in regards to election fraud. Who knows if it had anything to do with the stock market, but it’s definitely worth noting.
I don’t disagree with you on DRS. As things have progressed it seems more and more likely that GameStop will not be the one to press the launch button. DRS being the initiator makes sense in that the people are taking back the power themselves. I also think it’s why GameStop hasn’t released or officially announced their plans for the NFT marketplace.
I’m very curious to see how many shares have been DRS’d by the next earnings report. I’m guessing it will be somewhere around 15 million. With a free float of 36 million that is quite significant. Although I think we will need to DRS the entire float for anything to truly happen.
I’m sure the pace has sped up pretty significantly over the past couple of months due to this massive short attack. People are buying a lot more than they would have if the price was still in the 180-200 range and their dollar goes quite a bit further.
Overstock got sued by the hedge funds, but the courts ruled in Overstock’s favor.
With Overstock’s crypto dividend the shorts ended up being able to issue a cash equivalent. However, the idea behind an NFT dividend is that there is no cash equivalent so there would be no way for the shorts to provide the dividend since they can’t replicate an NFT the same way they do with synthetic shares.
Thanks for clearing that up. Re: DRS numbers. I saw Ally (APEX) is withdrawing the people who DRSd their IRA shares. So it seems they are afraid. Hopefully that doesn't drop the numbers next report.
Another thing that was interesting about this whole GME thing... They posted something on their website that said "Game On Anon"
I remember seeing that and thinking the same thing about “Game On Anon”. There are certainly a lot of interesting parallels.
I don’t think the Ally withdrawals will have that much of an impact. There’s a pretty small percentage of people who have GME in IRA accounts and only a small percentage of those IRA accounts are with Ally. At least I think that’s the case.
And even if it does have an impact, I’m sure many of those IRA account holders will transfer to a different brokerage and re-DRS their shares.
Still really shady and obviously an act of desperation. I think it’s simply more evidence that DRS is hurting them. It is comforting knowing that if the squeeze doesn’t happen on its own that we are constantly DRSing more and more of the float.
I think it might slow down when we get to about the halfway point, but then once we start getting closer it will pick up steam again since the finish line will be in sight.
I find it interesting that Patrick Byrne from Overstock was working with Trump at the White House towards the very end of his term.
It’s also interesting to me that Ryan Cohen’s first buy-in was shortly after Overstock issued a crypto dividend in an attempt to force the shorts to cover their positions. It could just be a coincidence but I think it gives credence to the idea that GameStop might issue an NFT dividend that forces the shorts to cover.
An NFT dividend also makes a lot of business sense. It’s a great way to immediately get millions of people using their new NFT marketplace.
Wow, i did not know Patrick Bryne was working with Trump.
I don't know if RC will release a NFT dividend. My opinion is the people have to cause this to take off, because then they can't blame one person (RC) and take him down. They can't sue millions of people for DRSing their shares. DRS seems to be the way to end this. Once the entire float is locked and DRSd, what happens then? RC gave cryptic hints to DRS, he couldn't say it outright. That's a huge tell.
At the last earnings report, they showed how many shares have been DRSd. That's a big tell also, that DRS is the way.
Edit: Also didn't Overstock get in trouble for releasing a crypto dividend? If a NFT dividend was released, wouldn't the brokers just provide a cash equivalence, since they can't provide the actual NFT?
Yes, Patrick Byrne was working with the Trump team very briefly I think in December or January. From what I recall it was in regards to election fraud. Who knows if it had anything to do with the stock market, but it’s definitely worth noting.
I don’t disagree with you on DRS. As things have progressed it seems more and more likely that GameStop will not be the one to press the launch button. DRS being the initiator makes sense in that the people are taking back the power themselves. I also think it’s why GameStop hasn’t released or officially announced their plans for the NFT marketplace.
I’m very curious to see how many shares have been DRS’d by the next earnings report. I’m guessing it will be somewhere around 15 million. With a free float of 36 million that is quite significant. Although I think we will need to DRS the entire float for anything to truly happen.
I’m sure the pace has sped up pretty significantly over the past couple of months due to this massive short attack. People are buying a lot more than they would have if the price was still in the 180-200 range and their dollar goes quite a bit further.
Overstock got sued by the hedge funds, but the courts ruled in Overstock’s favor.
With Overstock’s crypto dividend the shorts ended up being able to issue a cash equivalent. However, the idea behind an NFT dividend is that there is no cash equivalent so there would be no way for the shorts to provide the dividend since they can’t replicate an NFT the same way they do with synthetic shares.
Thanks for clearing that up. Re: DRS numbers. I saw Ally (APEX) is withdrawing the people who DRSd their IRA shares. So it seems they are afraid. Hopefully that doesn't drop the numbers next report.
Another thing that was interesting about this whole GME thing... They posted something on their website that said "Game On Anon"
Hat tip to the anons?
I remember seeing that and thinking the same thing about “Game On Anon”. There are certainly a lot of interesting parallels.
I don’t think the Ally withdrawals will have that much of an impact. There’s a pretty small percentage of people who have GME in IRA accounts and only a small percentage of those IRA accounts are with Ally. At least I think that’s the case.
And even if it does have an impact, I’m sure many of those IRA account holders will transfer to a different brokerage and re-DRS their shares.
Still really shady and obviously an act of desperation. I think it’s simply more evidence that DRS is hurting them. It is comforting knowing that if the squeeze doesn’t happen on its own that we are constantly DRSing more and more of the float.
I think it might slow down when we get to about the halfway point, but then once we start getting closer it will pick up steam again since the finish line will be in sight.
Probably told him the would shoot him in the head and dump him in the swamp.