Monday - April 10, 2023

Today's newsletter will take 3.57 minutes to read.

DRS UPDATE: 54.83%* (estimated percent of GME shares direct registered)

*source: Computershared.net

On tap this morning:

• Thursday recap

• Did you know?

• Just In: BBBY Announcement

Good Morning! This is Mother Squeezer, the newsletter that is strangely bringing you a relatively newsless newsletter this morning and brings you updates and insights along with timely information - when they're available - about our favorite Activist Investor, Ryan Cohen, and our favorite stocks - GME and BBBY.

We hope you had an excellent Easter Weekend, we certainly did.

After market close on Thursday, we decided to unplug and take a little break before jumping back in this morning to get a scoop on the latest. What did we find?

That's right. Nothing new.

Instead of forcing content or elevating the significance of minor occurrences for clicks, we plan to wait on more substance.

UPDATE: Just before publishing this morning, BBBY posted this announcement (shown below).

Thursday Recap: BBBY traded between a low of $0.30 and a high of $0.33 before closing at $0.31. Trading volume was 116.34 million shares.

Cost to borrow: There were 1,700,000 shares available to borrow this morning and as of now, 500,000 remain. The cost to borrow has remained elevated at 40.1%.

Pre market: Bed Bath and Beyond is trading up $0.01 to $0.32 an increase of 2.13% on over 5.5 million volume.

Max pain: The current max pain for BBBY has remained at $0.50.

Thursday Recap: GME traded between a low of $21.77 and a high of $22.67 before closing at $22.40. Trading volume was 2.51 million shares.

Cost to borrow: There were 200,000 shares available earlier this morning. Currently there are 10,000 remaining. The cost to borrow has remained elevated at 11.5%.

Pre market: GameStop is trading down $0.25 to $22.15 a decrease of 1.12% on around 13 thousand volume.

Max pain: The current max pain for GME has dropped to $22.00.

Did you know?

The first recorded use of "no news is good news" in English is by James Howell in 1640, who wrote, "I am of the Italians' mind that said, 'Nulla nuova, buona nuova' (no news, good news).

Some years before that, James 1 of England (VI of Scotland) wrote, "No News is better than evil news".

BBBY Announcement: Sue Brings Us an Update

Sue Gove, President & CEO of Bed Bath & Beyond Inc. said, "We recognize this past year has been among the most difficult in our Company's history. Particularly over the last several months, we are grateful to have overcome immediate challenges and impediments again and again thanks to the support of our customers, Associates, business partners, and shareholders. Our dedication to delivering for our supporters remains unwavering and we will continue to pursue our operational and financial goals to drive our turnaround."

"We are seeking shareholder approval for a reverse stock split to continue raising the necessary capital to fulfill our business goals. We understand the choices we have had to make to improve our liquidity have led to speculation both about our business and our stock. We are taking the necessary steps as part of our financial strategy to sustain and grow our business. One thing remains true -- many families, including our 20 million and growing Welcome Rewards members, continue to visit our beloved brands, Bed Bath & Beyond and buybuy BABY, to find solutions for life's special moments. We have operated for more than 50 years, and we are determined to deliver for the long-term benefit of our stakeholders."

Today's announcement intends to answer questions regarding the Company's upcoming shareholder vote and its stock. The Company plans to continue addressing inquiries in future communications.

• There were 428,098,624 BBBY shares outstanding as of March 27, 2023, the record date for the Special Meeting of Shareholders that is scheduled for May 9, 2023.

• Only the holders of these shares, whose trades have settled as of the record date, are entitled to vote at the Special Meeting of Shareholders. Other transactions related to trading in BBBY shares, such as share borrowing, derivatives (including options contracts) or short selling, do not impact the number of shares entitled to vote at the Special Meeting of Shareholders.

• A definitive proxy statement detailing the Company's proposals for shareholder approval, was filed on April 5, 2023. Copies of the proxy and voting materials are being delivered to investors, and to brokerage firms holding shares on behalf of investors in street name. Various distribution agents are responsible for forwarding proxy materials on behalf of banks, brokers and other nominees. Such investors are encouraged to reach out to their brokers if proxy materials have not yet been forwarded to them by their brokers by the end of this week.

• The Company has received several inquiries from shareholders regarding "naked short selling." The Company does not have specific access to information regarding any share lending or short selling transactions. While the Company is unable to confirm such activity, the Company denounces any market manipulation of its stock.

• The Company has received requests for the number of directly registered shares. Once the Company can confirm an approximate count, it aims to release this information in future communications.

• The outstanding share count presented above includes those shares held by both domestic and international investors. The Company understands that certain international brokerage houses may restrict international investors' ability to cast their votes. Affected international investors may wish to seek out other brokers who facilitate shareholder voting for future elections.

The Company will regularly update its Investor Relations website with information about the Special Meeting of Shareholders, in addition to general information about its business.

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.