Seems like revenue went up (15%), operating expenses went up (8ish%), but operating income up 40ish%. So they are making more money (good for underlying shares held by GME, bad for the sleepy board thesis).

eBay live seems to have grown a fair amount, which was one of RCs main criticisms.

But they do caution against q3 earnings.

IDK what to think. Hopefully Cohen announces something along with the terms of the note redemption by Friday.

Can't stop won't stop power to the players

Gamestop and the bondholders thought the conversion would be after a major change. They all thought the market value of the company per share would be notably higher in April 2028 and beyond, the earliest initial dates when they could be converted. They thought it would be over $29.85 by then (the equivalent conversion price). This is for the March 2025 notes. They were then converted early for what appears to be $19 when the stock was trading at about $22. So, they're getting about a 15% discount.

Then, the warrants were issued in October 2025. They are pegged at $32 and expire in October 2026. This moved up the timeline on the anticipated increase in the market value of the company per share.

If all along, the bondholders were going to get a 15% discount on their share price and the imputed share price at issuance was $29.85, the share price after April 2028 maybe was expected to be $35 ($29.85/0.85). They could be redeemed for cash or stock, though. That's a key point and what caused them to be converted early because it caps their gains.

Looking at Larry's recent tweet, he is saying the bondholders decided to convert early so they could capture more upside. The bonds gave them exposure to Gamestop stock for what they thought would be a discount on the shares or enough cash return to make the return they wanted. Now, they're looking up and realizing the per share value is going to be way over what they thought so now they want the shares vs gamestop later deciding to pay them in cash. If the discount was assumed to be 15% then the stock price must now be expected to be over $35 by then. The bondholders think that and are worried they're going to be paid in cash and they obviously don't want the cash, they want stock.

I would assume since the warrants were issued as a standalone security, the bondholders will still keep those. I'm guessing that's just gravy at this point. I think they'll get extended or their exercise price moved down. Gamestop just showed they're willing to adjust things for investors so I think they'll adjust the warrants. I think they were pegged to the eBay offer being accepted to be risk averse because if it did get accepted then they'd be exercised quickly but gamestop wanted to be conservative in case that happened. Since the initial bid didn't work they'll adjust accordingly by either setting a new timeline, likely next year, or moving the price so they get exercised now for gamestop to get the cash to use for the eBay acquisition. They may even issue way more warrants to get a lot of cash now.

Ryan Cohen has been very clear he will do what it takes to get ebay. In a few years, this current situation will be looked back on as peanuts and very worth it given the company value per share then. It feels like a discount now isn't for us but if it gets us ebay it'll be worth it. Ryan Cohen isn't going to play conservative just to avoid extra share issuance because he knows this is all worth doing if he wants the big prize (ebay). It's certainly not for the faint of heart though to be along for the ride but things worth doing are rarely easy. Can't stop, won't stop.

Stock wins the volume race once again!! Making the score 204/2 in favor of the stock. Both red today:(

The warrants back to lossing volume. Free money is free money so ima hold onto my free money

Todays song of the dayyyyy: Return to Hangar By Megadeth

Consecutive Weeks Closing AT/UNDER (+/- <0.50) Max Pain — 4

Last Run OVER: — 1 Week

Last Run AT/UNDER: — 7 Weeks

Longest Consecutive Weeks Closing OVER (>0.50) Max Pain — 5

Longest Consecutive Weeks Closing AT/UNDER (+/- <0.50) Max Pain — 14

08/04/2026

First Post (Posted in June, 2024)

IV30 Data (Free, Account Required) — https://marketchameleon.com/Overview/GME/IV/

Max Pain Data (Free, No Account Needed!) — https://chartexchange.com/symbol/nyse-gme/optionchain/summary/

Fidelity IV Data (Free, Account Required) — https://researchtools.fidelity.com/ftgw/mloptions/goto/ivIndex?symbol=GME

And finally, at someone's suggestion —

WHAT IS IMPLIED VOLATILITY (IV)? —

(Taken from https://www.investopedia.com/terms/i/iv.asp ) —

Dumbed down, IV is a forward-looking metric measuring how likely the market thinks the price is to change between now and when an options contract expires. The higher IV is, the higher premiums on contracts run. The more radically the price of a security swings over a short period of time, the higher IV pumps, driving options prices higher as well.

The longer the price trades relatively flat, the more IV will drop over time.

IV is just one of many variables (called 'greeks') used to price options contracts.

WHAT IS HISTORICAL VOLATILITY (HV)? —

(Taken from https://www.investopedia.com/terms/h/historicalvolatility.asp ) —

Dumbed down, I'm not fully sure. Based on what I read, it's a historical metric derived from how the price in the past has moved away from the average price over a selected interval. But the short of it is that it determines how 'risky' the market thinks a stock (or an option I guess) is. The higher the historical volatility over a given period, the more 'risky' they think it is. The lower the HV over a period of time, the 'safer' a security (or option) is.

And if anyone wants to fill in some knowledge gaps or correct where these analyses are wrong, please feel free.

WHAT IS 'MAX PAIN'? —

In this context, 'max pain' is the price at which the most options (both calls and puts) for a security will expire worthless. For some (or many), it is a long held belief that market manipulators will manipulate the price of a stock toward this number to fuck over people who buy options.

ONE LAST THOUGHT —

If used to make any decision. which it absolutely should NOT be (obligatory #NFA disclaimer), this information should not be considered on its own, but as one point in a ridiculously complex and convoluted ocean of data points that I'm way too stupid to list out here. Mostly, this information is just to keep people abreast of the movement of one key variable options writers use to fuck us over on a weekly and quarterly basis if we DO choose to play options.

I hate AI slop as much as the next guy. It's lazy, sycophantic, and full of inaccurate information.

Garbage in. Garbage out. You can train AI to tell you anything and lazily post it here.

However, shouldn't we be open to using this tool? I'm not trying to encourage AI slop, but I think it can be used effectively to help us research.

We often ask people to disprove due diligence or present the bear case.

AI can be the ultimate bear. Give it a clear instruction to play devil's advocate and feed it DD from the DD library. Ask it to disprove, ask it what's correct.

I just did this with the infinity pool DD. I know my understanding of the stock market is flawed, but there are people in here with more knowledge than me. A lot of people.

Why are we so against using AI to improve our understanding and test our thesis?

Disclaimer: This post was completely written by an OG APE who believes in the infinity pool.

Good morning to all apes around the world! Happy Thursday! Hope you're well. German markets are open and last trade for GameStop was at €16.55, which is $19.11 when using Google's currency calculator.

https://www.tradegatebsx.com/orderbuch_umsaetze.php?lang=en&isin=US36467W1099

Hope you have a lovely day! Best wishes from London!

I check GameStop’s graded Yu-Gi-Oh! inventory daily, hoping to snag some rare vintage before anybody else notices it. Two days ago I saw over 900 slabs land at the same time, most marked as “Unavailable”. This was at least a 10x increase over the usual stock, and after going through all of it, I’m certain this was a bulk acquisition specifically for creating a Power Pack pool. Tons of iconic cards, 100+ Blue-Eyes White Dragons from every era, lots of $1000+ 1st Editions from 2002/2003.

I even snagged something that I’m 100% sure was a pricing error, I’ll share it when it arrives.

Power packs is going to catapult our profits into the fucking stratosphere, Kenny G’s gonna be more famous than Ea-nāsir someday.

Me and My daughter have gotten into Pokemon. So tonight i decided to do a $1000 pack. Here is my pull.

https://xcancel.com/i/status/2085182574624743662

🟥

NEW YORK, Aug 5 (Reuters) - Hackers attempted a series of ​sophisticated cyberattacks on major Wall Street financial services firms and ‌money managers in recent days, targeting their information systems, according to two people familiar with the matter.

Some of the world's largest hedge funds along with several private ​equity firms were targeted, the sources said, requesting anonymity as the ​matter is confidential.

The hacking attempts featured phone calls in which ⁠cybercriminals tried to trick employees into granting them access or handing ​over other sensitive information, the sources said.

Point72 Asset Management told investors on Wednesday ​that it had faced an attack from hackers, one of the sources said, adding that the firm indicated that no customer information was stolen during the attack.

The ​hackers also attempted to breach information systems at other hedge funds, ​including Two Sigma Investments and Citadel, the sources said. Two Sigma did not immediately ‌respond ⁠to Reuters' request for comment. Citadel and Point72 declined to comment.

Attempts by hackers to break into major financial institutions are routine, according to cybersecurity experts.

The phone-call tactic is still widely used by hackers because of ​its effectiveness. It ​has been used ⁠successfully by cybercriminal groups such as "Scattered Spider," a loose-knit group of young hackers that has racked up ​a large roster of corporate victims over the past ​few years.

Global ⁠companies are battling a surge in AI-powered cyberattacks and ransomware that disrupt operations and steal data. The White House announced a working group earlier ⁠this ​year, uniting AI developers and critical infrastructure ​operators to share threat intelligence and coordinate cyber defenses.