Okay, just wanted to make a few additional anecdotes to your comment Datasinc:
-Gamestop did not just sell 2 billion dollars worth of stock. They sold around $933 million (45 million shares) and it was announced/confirmed on Saturday May 24, 2024. They sold shares previously to pay off debt and the cash at hand was around $1.3 billion. They spent around $200 million and the next filing should show what it was spent on. So with the additional $933 million and the original $1.1. billion (minus the $200 million that was spent), they are now at $2 billion. Just want to clarify for anyone reading.
-There is speculation that it could be UBS covering their positions through buying a shit ton of call options. But one of the issues is that the amount of call options there are is not enough to cover the swaps UBS would owe. There is also speculation that it could be RoaringKitty since the frequency of which the options were bought were mimicking his tweets, in 15-10-5 minute increments.
-Interesting to also note, is that the subreddit r/Superstonk, which has been compromised for some time now, has repeatedly told people to avoid options and has spread the narrative that it is just UBS trying to cover their swaps through call options and for people to remain calm and expect nothing.
On the other hand, X.com, a platform that is supposedly not censored but riddled with bots, follows the narrative that it is indeed RoaringKitty and that an acquisition of Bed Bath and Beyond is in the works.
Okay, just wanted to make a few additional anecdotes to your comment Datasinc:
-Gamestop did not just sell 2 billion dollars worth of stock. They sold around $933 million (45 million shares) and it was announced/confirmed on Saturday May 24, 2024. They sold shares previously to pay off debt and the cash at hand was around $1.3 billion. They spent around $200 million and the next filing should show what it was spent on. So with the additional $933 million and the original $1.1. billion (minus the $200 million that was spent), they are now at $2 billion. Just want to clarify for anyone reading.
-There is speculation that it could be UBS covering their positions through buying a shit ton of call options. But one of the issues is that the amount of call options there are is not enough to cover the swaps UBS would owe. There is also speculation that it could be RoaringKitty since the frequency of which the options were bought were mimicking his tweets, in 15-10-5 minute increments.
-Interesting to also note, is that the subreddit r/Superstonk, which has been compromised for some time now, has repeatedly told people to avoid options and has spread the narrative that it is just UBS trying to cover their swaps through call options and for people to remain calm and expect nothing. On the other hand, X.com, a platform that is supposedly not censored but riddled with bots, follows the narrative that it is indeed RoaringKitty and that an acquisition of Bed Bath and Beyond is in the works.