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- Friday - February 17, 2023
Friday - February 17, 2023
Mother Squeezer
February 17, 2023
Today's newsletter will take 2.27 minutes to read.
DRS UPDATE: 59.14*% (estimated percent of GME shares direct registered)
*source: Computershared.net
On tap this morning:
Thursday recap
GameStop NFT update
Did you know?
Sentiment is Changing
Good Morning! This is Mother Squeezer, the newsletter that is ready for a long weekend and brings you updates and insights along with timely information about our favorite Activist Investor, Ryan Cohen, and our favorite stocks - GME and BBBY.
It seems we may have been incorrect when we previously stating BBBY had been on Reg SHO for 35 calendar days. We came to our understanding by counting...calendar days. Since there's no official source that tracks this, we're open to another investors opinion showing that we're actually on day 31. This is because they aren't counting weekends and the count started on Jan 4 and not Jan 10.
Why is this important? Because history often rhymes. Back in January 0f 2021, GameStop really took off on day 37 (C-35+T-2 = 35 calendar days plus 2 trading days - we know, it gets confusing).
BBBY will reach day 37 on February 27...the same day as the FINRA short interest reporting.
This has us feeling especially bullish.
Thursday Recap: BBBY traded between a low of $1.78 and a high of $1.90 before closing at $1.80. Trading volume was 49.82 million shares.
Cost to borrow: There were 500,000 shares available to borrow this morning and as of now, 0 remain. The cost to borrow has remained extremely elevated at 113%.
Pre market: Bed Bath and Beyond is trading up $0.01 to $1.81 an increase of 0.56% on over 1.4 million volume.
Max pain: The current max pain for BBBY has remained at $3.00.
Thursday Recap: GME traded between a low of $20.85 and a high of $22.42 before closing at $21.60. Trading volume was 3.87 million shares.
Cost to borrow: There were 1,000,000 shares available earlier this morning. Currently there are 150,000 remaining. The cost to borrow has remained steady at 15%.
Pre market: GameStop is trading down $0.35 to $21.25 a decrease of 1.62% on around 10 thousand volume.
Max pain: The current max pain for GME has remained at $21.25.
Did you know?
Mechanical bucking riding devices were first introduced in the 1930s with an original ride debuting at Bertrand Island Amusement Park in New Jersey, as a bucking bronco named Ride Em' Cowboy! The devices later became popular bar staples in country western bars all over the country.
Mechanical bulls received mainstream attention and notoriety with the movie Urban Cowboy with John Travolta and Debra Winger. John Travolta rides an El Toro brand bull in the movie and those bulls are still in production to this day!
Sentiment is Changing
Major outlets seem to be changing their tune. We're not seeing mentions of "immediate bankruptcy" any longer. Surprisingly, headlines are slowly turning positive.
Reestablishing inventory flow to continue to give consumers what they want is part of the turnaround plan that has been ongoing for the past 8 months. Closing underperforming stores and placing a new emphasis on web-first sounds like a play right out of GameStops playbook.
Brick by brick!
Spread the Word
We love Ryan Cohen and think he's the greatest Activist Investor of our generation. We are passionate followers of his moves and words and would love for others to know more about this great leader. We feel strongly that life is all about learning who to follow. If you have someone that needs more RC in their life, share Mother Squeezer with them!
Some of our Favorite Resources
BBBY: ThePPShow
BBBY: Ben - Mr. Business
GME: Richard Newton
For errors, omissions or if you have something to share? Let us know!
Financial Disclaimer: None of this is meant to be financial advice. We love Ryan Cohen, RC Ventures, GameStop and Bed Bath and Beyond, and like learning and sharing these insights and commentary.
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