Game Stop Action

[shinnosuke]

And now GME is going to do it. Trends, y'all.

[tdtwedt]

Yesterday, Bitcoin maximalists were touting GameStop’s Bitcoin investment as a catalyst for BTC to surge to $1 million.

Today, they’re dead silent as GameStop’s stock has death spiralled -28% since the announcement. Bitcoin is a loser’s game; any company that invests in it is primed for bankruptcy.

Investors are fleeing as fast as they can. They know the BTC announcement is all just a failed weak attempt at a distraction from their decaying financials.

https://x.com/JacobKinge/status/1905368616541061626

[pmbug]

GME dropped nearly 25% today after announcing their debt for Bitcoin plan.

[shinnosuke]

GME dropped nearly 25% today after announcing their debt for Bitcoin plan.

So you're announcing that you bought at a nice discount, eh?

Edited to add this from the GME announcement:
<begin quote>
Upon conversion, GameStop will pay or deliver, as the case may be, cash, shares of GameStop’s Class A common stock, par value $.001 per share (“Class A common stock”), or a combination of cash and shares of Class A common stock, at its election. The conversion rate for the notes will initially be 33.4970 shares of Class A common stock per $1,000 principal amount of such notes (equivalent to an initial conversion price of approximately $29.85 per share of Class A common stock). The initial conversion price of the notes represents a premium of approximately 37.5% over the U.S. composite volume weighted average price of the Class A common stock from 1:00 p.m. through 4:00 p.m. Eastern Daylight Time on The New York Stock Exchange on March 27, 2025.
<end quote>

This afternoon was the pricing period for the CBs.

[tdtwedt]

[tdtwedt]

Game Stop...

https://www.cnbc.com/quotes/GME