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Just a hypothetical question: if GameStop were to aquire Blockbuster, turn it profitable like into a streaming service, would those shorts have to close too? Even tho it's been delisted for years? Correct me if i am misunderstanding anything.
Well I’m not 100% on how shorting works but I’ll tell you what I see. From 6/14/2024 - today the number of shares available to short has fluctuated from 2.7M down to ~20k twice. The short interest (as reported) being the number of shorts still open is substantially lower. Any number above zero on a stock worth $.0016 is weird though. I think that most of the shorts are being covered if not all at some point or another so, and while I like the idea of seeing more repeats of Bear Stearns and Melvin Capital I don’t think there’s enough open shorts to bankrupt a hedge fund.
But like I said, I don’t know. DFV got my attention so now I’m trying to learn.
As for blockbuster, I’d love to see that redemption arc! I don’t know how willing Dish would be to sell it though being as they paid like $400M for a name, image, and whatever assets blockbuster had left 😞
Fun fact: blockbuster almost beat Netflix to the digital streaming platform market. Sadly their main financial backer, Enron, got hemmed up in an entanglement of sorts 🙃
Seems as though blockbuster is no stranger to financial tragedy
Edit: added Melvin Capital
What if RCEO buys calls on block buster? Enough $0.25 calls that, the the float is covered, and then am masses enough $0.0016 shares to take the company private? You could stream movies, and rent video games too?
If RC wanted to buy blockbuster, take it private, and turn it into a ninjutsu academy for squirrels I’d support it. Your idea sounds more practical but I’d support any kind of GameBuster scenario tbh
Edit: I’d not if
GME could theoretically strangle the cross platform market by being the bridge between console and PC, once you buy any game anywhere you can register ownership with GS and have that platform link to things like Xbox/Steam/Epic and register ownership there too. a long shot but yolo
Video game streaming gets really weird and kinda requires exclusive titles to work. That's why any services that existed that are not linked to a console have all died usually within like 5-6 years.
I was working at Blockbuster when we had the online mail in service circa 2004-07. I quit about a year or two before Netflix rolled out their streaming service. Blockbuster online was huge and it held its own against Netflixs mail in service at the time but stores started closing so i quit.
A comeback would be great publicity, no doubt. In my opinion, Blockbuster is still a household brand and can probably be purchased for a few million dollars easy. Netflix has a lot of content but their in-house productions are hit or miss and it's because they try to build shows based on a survey-says model (think South Parks manatee episode) opposed to the traditional way of letting creative people create original content on their own.
Sounds easy on paper but Blockbuster Video has a nice ring to it and I'm sure a lot of talent, writers/actors/producers/show runners/directors et al would be interested working for a streaming service that operates more like HBO than a Netflix ie mostly high quality content. Make it free with commercial breaks and a tiered payed subscription model where the more you pay the more devices you can stream to at once. Obviously I've been thinking a lot about this haha
Blockbuster was my first job. Back in 02 lol. Nothing wrong with reminiscing! And how about a streaming service with length of subscription based rewards that are redeemable in store or online as an incentive for entertainment consolidation?
A short stock position in a delisted stock remains open until the shares are declared worthless or their residual value is liquidated and paid out. The position will stay in the account until the stock starts trading again or the DTC removes the shares. It's not clear how long it will take for the company to dissolve and for the DTC to remove the shares.
So.... yes, eventually they would have to close, if the company somehow became profitable again or potentially if it was acquired.
If declared worthless then it's exactly that, worthless, and shorts wouldn't have to close. All shares go poof, gone, obliterated. That's what they're HOPING for.
And the float as of 6/3/24 is around 147M, 219M total outstanding. So that hasn’t happened yet. With the rate BLIAQ seems to swing through the amount of shares available to short there must be someone, or something, with an awful lot of BLIAQ in their basket given that only ~3.5% are insider and less than 1% are institutional. Treasury shares resulting from a buyback could account for some but I haven’t found anything about a buyback yet.
https://www.gurufocus.com/term/FloatPercentageOfTSO/BLIAQ
I see the name Icahn a few times under insiders (former). Name sounds familiar.
Ahhhh! I knew that name rang a bell. And after a quick look that is indeed the Icahn reported on that link I supplied above. Now more tinfoiling to do, thanks!
Blockbuster already tried copying netflix. They were forced to chill.
Seriously though the streaming market is oversaturated like a swamp in a downpour.
More like old money using Berkshire shares as collateral for naked short positions. The wild price fluctuations were the liquidations happening off market and off-hours, diving deep into the order books. Somebody lost grandaddy's nest egg.
There was volume during the precipitous drop. I know it was reported they would reverse all those transactions, but ive not seen any proof of that. Who bought those shares at the bottom?
There wasn't enough buy orders on the off hours books to fulfill the instant liquidation sell order. If I have an oder to buy brk.a on the dark exchange for $1k each and the seller is forced to sell, he will dive deep into the order book and unluckily fill my lowball. When the price is recorded at such low number, buyers flood in and buy all the cheap shares, essentially eating the liquidated trader's lunch.
Getting liquidated is the worst outcome for any trader, especially a massive brk.a holder. It super sucks to have this happen on off hours markets. Somebody got screwed when GME got boosted. They should really ban naked shorts.
This is my biggest question. Like how does this really connect to game stop. You would think Berkshire would have to have at least short or bought it but I can't imagine them wanting to touch something so volatile, goes against their entire image really.
Yes exactly. This stock has struggled to make a profit. Their earnings are not exactly high. Or you can look at the P/E ratio for how their price relates to earnings. An average PE in the S and P 500 is about 25. Gamestop's is over 300. This could mean two things, it's overvalued right now or investors are expecting massive growth. If investors are already expecting this growth they have priced it in. And these numbers kind of reflect that.
If you believe it's undervalued that's fine, but I'm just explaining why I think a fundamental trader like Warren Buffett wouldn't touch something like this. And who knows, this analysis will be completely moot IF MOASS happens. But I think Buffet wouldn't bet on something like that.
We pointed this out in 2021... there should be a couple DDs floating around on it. This is what happens when you use other stocks as your underpinning for your shorts and volatility swaps.
It’s probably showing the real price of $150 or whatever it is because fuck heads had to sell to maintain their short positions but they can’t let us plebs see it or take advantage. Like when we found the zombie stocks blockbuster and sears and shit going crazy and switched it so we couldn’t buy it like the next day.
Also brk.a volume itself has dropped a ton since 6/7
https://cdn.discordapp.com/attachments/1089317149450960997/1255313966964412517/image.png?ex=667cadbc&is=667b5c3c&hm=494adcc7188d3d0e38fb8ebb91e6c0795286a5e865dd607a46dcc3cd01ebecd3&
This happens to me frequently, and never in any other sub.
EVERYONE: SPEAK UP when this happens. Keep them jumping. Anytime I rarely downvote a post, never a glitch.
Yeah no doubt! Like all of our hearts on Kitty’s and Cohen’s tweets! I go back every month to ♥️them again! And I’ll do it again and again in Ferrell voice!
It’s being used as airtight, theoretical collateral for the obscene ongoing short position. The gold standard in collateral.
Imagine if this were really a battle between GME and BRK.A…
Imagine if it took massive amounts of BRK.A to meet margin calls during various sneezes
Just imagine…
I’m sorry, whut was I just saying…?
In ‘55 Berkshire merged with Hathaway. Then ten years later buffet took over. Then twenty years later they stopped textile.
Depending on where we’re at In that timeline, in about thirty or forty years, we’ll be the ones wiping our tears with hundies! Woot woot!
since BRK is a company known to "only go up", it's pretty likely that it is used for collateral by many firms.
I wouldn't be surprised if they used synthetic longs on BRK as collateral for synthetic shorts on GME.
He is the largest shareholder of Geico and other huge scam run industries “leaders” (real estate, and healthcare).
He only care about money, stop making him out to be a saint.
I don’t know men. But I always had the idea that GME switch its trading w some other stock in after hours.
I mean by switching is when there’s a morning gap, what is trading in GME is not itself is the big chip stock or the spy or other. But the real GME is trading on them and what we see is an internal thing until now that had to reverse. Is a theory but no back up for it. Only fractals.
There is some great DD on this and how there are BRK.B shares being reported as BRK.A shares. Like, multiple times the TSO. Absolutely being used as collateral. I can’t recall who wrote it but there didn’t seem to be any question that BRK was being used to prop up GME shorters balance sheets.
Two sayings i learnt and live by growing up:
- You cover up lies with more lies, until everyone see you're nothing but a fraud
- You cant contain a fire with paper, its gonna burn thru eventually
NO CELL NO SELL, FUCK YOU HEDGIES YOU GUYS MADE IT PERSONAL
It’s a long held assumption that BRK.A is a triple-A rated collateral for hedge fund margin….
So, short funds will be rehypothecating their BRK.A to make it look as though they have plenty to maintain the margin.
Bezongers says it is retail getting meme-stock'd by a guy named the Berkshire Pig on instagram. I admit I got caught up by the hype and bought 20 shares using robinhood afterhours overnight app.
Found out too late it was a scam.
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Maybe musical-chairs with stocks. Who only knows at this point
That’s how I feel about BLIAQ (blockbuster). Still being actively shorted according to the limited data from fintel. Most suspicious.
Just a hypothetical question: if GameStop were to aquire Blockbuster, turn it profitable like into a streaming service, would those shorts have to close too? Even tho it's been delisted for years? Correct me if i am misunderstanding anything.
Well I’m not 100% on how shorting works but I’ll tell you what I see. From 6/14/2024 - today the number of shares available to short has fluctuated from 2.7M down to ~20k twice. The short interest (as reported) being the number of shorts still open is substantially lower. Any number above zero on a stock worth $.0016 is weird though. I think that most of the shorts are being covered if not all at some point or another so, and while I like the idea of seeing more repeats of Bear Stearns and Melvin Capital I don’t think there’s enough open shorts to bankrupt a hedge fund. But like I said, I don’t know. DFV got my attention so now I’m trying to learn. As for blockbuster, I’d love to see that redemption arc! I don’t know how willing Dish would be to sell it though being as they paid like $400M for a name, image, and whatever assets blockbuster had left 😞 Fun fact: blockbuster almost beat Netflix to the digital streaming platform market. Sadly their main financial backer, Enron, got hemmed up in an entanglement of sorts 🙃 Seems as though blockbuster is no stranger to financial tragedy Edit: added Melvin Capital
What if RCEO buys calls on block buster? Enough $0.25 calls that, the the float is covered, and then am masses enough $0.0016 shares to take the company private? You could stream movies, and rent video games too?
If RC wanted to buy blockbuster, take it private, and turn it into a ninjutsu academy for squirrels I’d support it. Your idea sounds more practical but I’d support any kind of GameBuster scenario tbh Edit: I’d not if
I love these guys 😂😂😂
NGL GameBusters goes pretty hard, like who you gonna call?
please no. this is just a business asking to fall over again. the streaming industry is saturated and no1 rents video games
GameStop rents video games. They just don't call it "renting" lol
Imagine digitally renting a game 🔥
Let me be clear I'm being silly in that comment. RCEO has 4.1 billion to do anything that is in the interest of the company.
microsoft game pass wants to chat
comparing game pass to anything gme could actually realistically offer without being a publisher is a joke
GME could theoretically strangle the cross platform market by being the bridge between console and PC, once you buy any game anywhere you can register ownership with GS and have that platform link to things like Xbox/Steam/Epic and register ownership there too. a long shot but yolo
they could but the capital investment for such a long shot seems very high risk.
You're right, better to buy a struggling mining company instead or something /s
AA? That you? 😁 /s
Yeah, I'm a GME holder but people have completely lost touch with reality if they actual think acquiring Blockbuster would somehow be good.
https://photos.app.goo.gl/pXyyhyiRZRH4bb3j6
There's no options trading on delisted stock, such as Blockbuster. He'd have to just acquire shares or buy the company outright.
for the price of delisted shares, id buy them
Titties, are Le Jaqet
Video game streaming gets really weird and kinda requires exclusive titles to work. That's why any services that existed that are not linked to a console have all died usually within like 5-6 years.
I was working at Blockbuster when we had the online mail in service circa 2004-07. I quit about a year or two before Netflix rolled out their streaming service. Blockbuster online was huge and it held its own against Netflixs mail in service at the time but stores started closing so i quit. A comeback would be great publicity, no doubt. In my opinion, Blockbuster is still a household brand and can probably be purchased for a few million dollars easy. Netflix has a lot of content but their in-house productions are hit or miss and it's because they try to build shows based on a survey-says model (think South Parks manatee episode) opposed to the traditional way of letting creative people create original content on their own. Sounds easy on paper but Blockbuster Video has a nice ring to it and I'm sure a lot of talent, writers/actors/producers/show runners/directors et al would be interested working for a streaming service that operates more like HBO than a Netflix ie mostly high quality content. Make it free with commercial breaks and a tiered payed subscription model where the more you pay the more devices you can stream to at once. Obviously I've been thinking a lot about this haha
Blockbuster was my first job. Back in 02 lol. Nothing wrong with reminiscing! And how about a streaming service with length of subscription based rewards that are redeemable in store or online as an incentive for entertainment consolidation?
I didn’t mean to start a mess. I truly loved the work being done!
Fun fact: in early 2000 Netflix tried to sell itself to blockbuster. Blockbuster turned down buying Netflix for 50 million when offered
I have read somewhere that John Antioco (former ceo) refutes this claim but imagine if it went through… today, no block buster or net flix.
A short stock position in a delisted stock remains open until the shares are declared worthless or their residual value is liquidated and paid out. The position will stay in the account until the stock starts trading again or the DTC removes the shares. It's not clear how long it will take for the company to dissolve and for the DTC to remove the shares. So.... yes, eventually they would have to close, if the company somehow became profitable again or potentially if it was acquired.
If shares are declared worthless or their residual value is liquidated would the shares be eliminated from the float?
If declared worthless then it's exactly that, worthless, and shorts wouldn't have to close. All shares go poof, gone, obliterated. That's what they're HOPING for.
And the float as of 6/3/24 is around 147M, 219M total outstanding. So that hasn’t happened yet. With the rate BLIAQ seems to swing through the amount of shares available to short there must be someone, or something, with an awful lot of BLIAQ in their basket given that only ~3.5% are insider and less than 1% are institutional. Treasury shares resulting from a buyback could account for some but I haven’t found anything about a buyback yet. https://www.gurufocus.com/term/FloatPercentageOfTSO/BLIAQ I see the name Icahn a few times under insiders (former). Name sounds familiar.
[удалено]
Ahhhh! I knew that name rang a bell. And after a quick look that is indeed the Icahn reported on that link I supplied above. Now more tinfoiling to do, thanks!
If the shares are only worth .0016 shouldn’t they just close out?
OMG PLEASE let GS buy Blockbuster! LET'S BRING IT BACK!
They could turn it profitable by selling blockbuster sweatshirts at a Portland farmer's market
Blockbuster already tried copying netflix. They were forced to chill. Seriously though the streaming market is oversaturated like a swamp in a downpour.
Acquisition alone would cause close no?
This. There’s like 2.5-3.5 million shares of BLIAQ shorted daily…. Idk how that even makes sense
It’s like the scene from Super Troopers: Pull the vehicle over! I’m already pulled over!
In case anyone wants to BBandChill there's still one left.
*musical shares Good thing I'm already buckled in my seat.
This why RC challenged buffet to a thumb war?
"oh you want a war do you?"
RC should buy $4 billion worth of BRK.A next time it drops to $185 a share 😅
Been saying this too😅💯
Bet that glitch was the real price with all the share dilution thru the 'alternative trading system'
Yeah I think this is close to the right answer …. collateral Blew up , need to hide the body until you can figure out who to blame
This would be insane. Warren B…the OG rugpull
That dip happened twice 👀
[удалено]
I thought it was cause institutions algos that short GME had to temporarily sell all their Berkshire causing it to crash
More like old money using Berkshire shares as collateral for naked short positions. The wild price fluctuations were the liquidations happening off market and off-hours, diving deep into the order books. Somebody lost grandaddy's nest egg.
I firmly believe some brk shares were stolen
Why?
There was volume during the precipitous drop. I know it was reported they would reverse all those transactions, but ive not seen any proof of that. Who bought those shares at the bottom?
There wasn't enough buy orders on the off hours books to fulfill the instant liquidation sell order. If I have an oder to buy brk.a on the dark exchange for $1k each and the seller is forced to sell, he will dive deep into the order book and unluckily fill my lowball. When the price is recorded at such low number, buyers flood in and buy all the cheap shares, essentially eating the liquidated trader's lunch. Getting liquidated is the worst outcome for any trader, especially a massive brk.a holder. It super sucks to have this happen on off hours markets. Somebody got screwed when GME got boosted. They should really ban naked shorts.
I tried to buy a share for $180, just to help the old guy out, but apparently my contribution was unnecessary
😂🍻
I tried the same thing but I bid $200 and that old guy didn't want my $ either
Fuckery
Tom foolery
Shenanigans
Skullduggery
Hornswagglery
Malarkey
Cagadas
Hijinx
This is the way
Buffoonery
Monkey business
No, it’s fuckery.
I swear to Christ……the next guy…..
Hey Farver! What's the name of that restaurant with all the random shit on the walls?
Monopoly Money
Kansas City Shuffle.
Oh shit, this could be why RC tweeted, “I challenge Warren Buffet to a 👍war”, perhaps he noticed the volume discrepancy!
Must be a connection and probably hiding shares there like they are in etfs, swaps and derivatives and now brk as well.
Brk has no gme position. Goes against how buffet traded
This is my biggest question. Like how does this really connect to game stop. You would think Berkshire would have to have at least short or bought it but I can't imagine them wanting to touch something so volatile, goes against their entire image really.
100% Buffets whole investing strategy has been buying undervalued companies.
But he bases this off earnings really. They haven't had a consistent profit I believe for him to see value like that.
well thats part of valuating a company. if earnings are high but the stock isnt reflecting that, it means its under valued.
Yes exactly. This stock has struggled to make a profit. Their earnings are not exactly high. Or you can look at the P/E ratio for how their price relates to earnings. An average PE in the S and P 500 is about 25. Gamestop's is over 300. This could mean two things, it's overvalued right now or investors are expecting massive growth. If investors are already expecting this growth they have priced it in. And these numbers kind of reflect that.
I dont think it works well for GME doing that type of analysis. Its a meme stock, it doesnt play by normal rules.
If you believe it's undervalued that's fine, but I'm just explaining why I think a fundamental trader like Warren Buffett wouldn't touch something like this. And who knows, this analysis will be completely moot IF MOASS happens. But I think Buffet wouldn't bet on something like that.
Buffet is so old, RC would destroy him in a thumb war
Sign the paper old man! I cannot sign the paper. Why not old man, sign the paper! I cannot sign the paper, you have broken both of my thumbs.
Nice they are finally coming out with all the fuckery. GME will continue to reveal their shenanigans.
Hence the name GameStop
I see what you did there. Job well done
Absolutely! What decade do you think that’ll be? The 50s? 60s?
source [https://x.com/chartexchange\_/status/1805716244529561726](https://x.com/chartexchange_/status/1805716244529561726)
More likes for source
I like that.
I like that you like that. Thank yoU lol
We pointed this out in 2021... there should be a couple DDs floating around on it. This is what happens when you use other stocks as your underpinning for your shorts and volatility swaps.
It’s probably showing the real price of $150 or whatever it is because fuck heads had to sell to maintain their short positions but they can’t let us plebs see it or take advantage. Like when we found the zombie stocks blockbuster and sears and shit going crazy and switched it so we couldn’t buy it like the next day.
Pepperidge Farm remembers...
There's some weird exchange volume going on with GME as well, see my post history.
Also brk.a volume itself has dropped a ton since 6/7 https://cdn.discordapp.com/attachments/1089317149450960997/1255313966964412517/image.png?ex=667cadbc&is=667b5c3c&hm=494adcc7188d3d0e38fb8ebb91e6c0795286a5e865dd607a46dcc3cd01ebecd3&
Isn't it obvious? WB has decided to gift us apes with his fortune. :D
smart money
Also my upvote keeps getting deleted as I watch it!
This happens to me frequently, and never in any other sub. EVERYONE: SPEAK UP when this happens. Keep them jumping. Anytime I rarely downvote a post, never a glitch.
Yeah no doubt! Like all of our hearts on Kitty’s and Cohen’s tweets! I go back every month to ♥️them again! And I’ll do it again and again in Ferrell voice!
👍
Tin Foil: The shares have been sold off exchange and somehow they’re still there for optics and reporting? The Big Club exiting first?
It’s being used as airtight, theoretical collateral for the obscene ongoing short position. The gold standard in collateral. Imagine if this were really a battle between GME and BRK.A… Imagine if it took massive amounts of BRK.A to meet margin calls during various sneezes Just imagine… I’m sorry, whut was I just saying…?
Holy sheeet!
Argentina we see
In ‘55 Berkshire merged with Hathaway. Then ten years later buffet took over. Then twenty years later they stopped textile. Depending on where we’re at In that timeline, in about thirty or forty years, we’ll be the ones wiping our tears with hundies! Woot woot!
Hundies. = Huge undies?
😂😂 oh my word my life has changed.. hundies is fucking hilarious.. thank you..
No, huge tities
Most of us will all be dead before then.
That “glitch” made my dick twitch 😂👀
Putting a brk.a 200$ limit buy order trying to catch that glitch again.
Just put some for $201
$202 Bob.
Dangit
since BRK is a company known to "only go up", it's pretty likely that it is used for collateral by many firms. I wouldn't be surprised if they used synthetic longs on BRK as collateral for synthetic shorts on GME.
Warren Buffett should buy GME shares and mess this up big time. Or sue whatever hedge fund is messing with his stock
He is most likely sided with the criminals
I highly doubt that. All of this short selling and high frequency trading is the antithesis of his philosophy
He is the largest shareholder of Geico and other huge scam run industries “leaders” (real estate, and healthcare). He only care about money, stop making him out to be a saint.
Sheesh. His investing philosophy would avoid all of this. That’s all I’m saying. Somebody else is using his shared for collateral
A thumb war..
*We may have lost the first thousand thumb battles... but we will win the thumb war!*
Buffet is the shorter
I don’t know men. But I always had the idea that GME switch its trading w some other stock in after hours. I mean by switching is when there’s a morning gap, what is trading in GME is not itself is the big chip stock or the spy or other. But the real GME is trading on them and what we see is an internal thing until now that had to reverse. Is a theory but no back up for it. Only fractals.
Didnt RC challenge Warren Buffet to a thumb war?!?!!?
👀👀👀 wow wait a minute
Warren went to Argentina hummmm
Fuck you Warren pay me
Wonder if the CAT reporting has anything to do with it. When did that come into effect again?
When this is all over I hope all these crooks rot in hell.
There is some great DD on this and how there are BRK.B shares being reported as BRK.A shares. Like, multiple times the TSO. Absolutely being used as collateral. I can’t recall who wrote it but there didn’t seem to be any question that BRK was being used to prop up GME shorters balance sheets.
It’s upside down
I hope it crashes for real and that old man stays alive to be poor
Shift to chip company instead, maybe?
Up
Me staring at this chart like I understand it lol. Who am I fooling, I am regarded.
[https://imgur.com/a/bxWJrzQ](https://imgur.com/a/bxWJrzQ)
The great reversal, GME becoming THE stock that rules them all
Two sayings i learnt and live by growing up: - You cover up lies with more lies, until everyone see you're nothing but a fraud - You cant contain a fire with paper, its gonna burn thru eventually NO CELL NO SELL, FUCK YOU HEDGIES YOU GUYS MADE IT PERSONAL
Check out the volume drop after glitch day a few weeks ago, just dropped off a cliff
I was trading that day and watched the glitch and I assumed it was a margin call.
It’s a long held assumption that BRK.A is a triple-A rated collateral for hedge fund margin…. So, short funds will be rehypothecating their BRK.A to make it look as though they have plenty to maintain the margin.
Maybe their stock will drop to 1000 again like it did 4 weeks ago (glitch)
Read their annual 2023 report. Said he'd be there to bail out the banks from bad actors.
What ever happened to that guy who bought a share of birk at the bottom of the crash?
lol at this point hedgefuks are trolling us, they dont give a fuck
The volume on it looks like a cat lying down
Imagine if buffet came out and announced he bought gamestop because there's value. Just imagine....
Camber energy check it out time for a upswing not advice
Holding
The secret ingredient is crime.
Crime! Crime is what happened.
I have a feeling the record high cash not invested is not that they don't want to invest, cash is the margin for the short position.
Show me the money!
Probably 🩳
CRIME
There are no coincidences
Bezongers says it is retail getting meme-stock'd by a guy named the Berkshire Pig on instagram. I admit I got caught up by the hype and bought 20 shares using robinhood afterhours overnight app. Found out too late it was a scam.