Friday - March 17, 2023

Today's newsletter will take 2.43 minutes to read.

DRS UPDATE: 60.70%* (estimated percent of GME shares direct registered)

*source: Computershared.net

On tap this morning:

• Thursday recap

• GameStop NFT update

• Did you know?

• Why is this Deal Taking So Long?

Good Morning! This is Mother Squeezer, the newsletter that is always scanning for something new and brings you updates and insights along with timely information about our favorite Activist Investor, Ryan Cohen, and our favorite stocks - GME and BBBY.

These plays are shaping up to be investments of attrition. Bed Bath & Beyond appears to be strengthening which means it's coming down to long investors versus short sellers - who will outlast who? GME has always been a long game, the DRS movement is approaching 61% (only 39% more until we find out what happens next).

Lately, BBBY has been trading in a "barcode" pattern. This is a tight range between a high and low through a period of time.

This investment hasn't gone at the speed that we originally thought it would take to play out, but nothing has changed in our conviction. We just have to let things unfold and realize it's out of our hands.

Thursday Recap: BBBY traded between a low of $1.04 and a high of $1.15 before closing at $1.06. Trading volume was 43.44 million shares.

Cost to borrow: There were 300,000 shares available to borrow this morning and as of now, 100,000 remain. The cost to borrow has remained extremely elevated at 119.5%.

Pre market: Bed Bath and Beyond is trading up $0.02 to $1.08 an increase of 1.89% on over 1.1 million volume.

Max pain: The current max pain for BBBY has dropped to $1.50.

Thursday Recap: GME traded between a low of $15.53 and a high of $16.77 before closing at $16.76. Trading volume was 4.02 million shares.

Cost to borrow: There were 45,000 shares available earlier this morning. Currently there are 10,000 remaining. The cost to borrow has increased to 11.1%.

Pre market: GameStop is trading up $0.06 to $16.70 a decrease of 0.36% on around 21 thousand volume.

Max pain: The current max pain for GME has dropped to $19.00.

GameStopNFT tweeted:

If you're on Twitter, be sure to vote in the GameStopNFT poll!

Did you know?

Norman Joseph Woodland (September 6, 1921 – December 9, 2012) was an American inventor, best known as one of the inventors of the barcode, for which he received a patent in October 1952.

Later, employed by IBM, he developed the format which became the ubiquitous Universal Product Code (UPC) of product labeling and check-out stands.

Why is this Deal Taking So Long?

That's a question we get asked often. It seems a merger/acquisition/takeover has been in the works for over a year for BBBY.

BBBY investor d4nl0w shared a pretty compelling case on Twitter. He explains why it has taken so long for government approval and how Brett Icahn's resignation from the Newell Brands board earlier this week fits into the puzzle:

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: ThePPShow

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.