Friday - February 3, 2023

Today's newsletter will take 2.47 minutes to read.

DRS UPDATE: 51.64*% (estimated percent of GME shares direct registered)

*source: Computershared.net

On tap this morning:

• Thursday recap

• GameStop NFT update

• Did you know?

• New Gift Card Agent for BBBY

Good Morning! This is Mother Squeezer, the newsletter that wishes you a happy Friday and brings you updates and insights along with timely information about our favorite Activist Investor, Ryan Cohen, and our favorite stocks - GME and BBBY.

Yesterday evening, the media began reporting that Ryan Cohen had invested in Nordstrom, sending the stock up almost 30%. This seemed like odd reporting to us. There has been no SEC filing and no clues from RC. At this point, we believe this may be a diversion, directing attention away from BBBY and GME.

If you remember a few weeks ago, the media reported that RC had taken a stake in Alibaba. That story seemed to die down and was never validated. There is a lot at stake here folks so be prepared for more FUD, lies and inaccuracies.

Thursday Recap: BBBY traded between a low of $3.10 and a high of $3.60 before closing at $3.33. Trading volume was 68.45 million shares.

Cost to borrow: There were 0 shares available to borrow this morning and as of now, 0 remain. The cost to borrow has remained extremely elevated with reports of over 400%.

Pre market: Bed Bath and Beyond is trading down $0.08 to $3.25 a decrease of 2.45% on over 2.8 million volume.

Max pain: The current max pain for BBBY has remained at $3.00.

Thursday Recap: GME traded between a low of $22.22 and a high of $24.40 before closing at $22.70. Trading volume was 7.65 million shares.

Cost to borrow: There were 350,000 shares available earlier this morning. Currently there are 150,000 remaining. The cost to borrow has remained steady at around 19.4%.

Pre market: GameStop is trading up $0.01 to $22.71 an increase of 0.13% on around 21 thousand volume.

Max pain: The current max pain for GME has remained at $21.00.

GameStopNFT tweeted:

"Buckled In"...how fitting :)

Did you know?

WestPoint Home is a conglomerate of three textile giants. WestPoint Manufacturing Company was formed in the south shortly after the end of the Civil War.

J.P. Stevens & Co. and the Pepperell Manufacturing Co were two individual companies that were founded some years earlier in New England. WestPoint Home currently serves as a manufacturer of home fashion textiles.

New Gift Card Agent for BBBY

Over the weekend, investors who congregate on Reddit began reporting unavailability of physical gift cards at bedbathbeyond.com, Bed Bath & Beyond stores as well as other retailers. Many Redditors called their local BBBY to get additional information. Although at the time, no consensus was formed due to different investors receiving conflicting information from different stores.

This had excited investors speculating that a merger was just around the corner and the acquiring party was ceasing gift card sales before the completion of the deal. However, this theory was never proven.

Yesterday it became known that the reason for the gift card unavailability was a change in agent who issues the gift cards. The new agent was tied to Westpoint Homes, an Icahn Enterprise Company.

We're not jumping to conclusions but this is an interesting development. We'll bring you more if additional details surface.

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

Start Here

BBBY: Ben - Mr. Business

GME: Richard Newton

Computershared.net

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.