Thursday - March 16, 2023

Today's newsletter will take 2.37 minutes to read.

DRS UPDATE: 60.43%* (estimated percent of GME shares direct registered)

*source: Computershared.net

On tap this morning:

• Wednesday recap

• Did you know?

• A Little Data on Short Squeezes

Good Morning! This is Mother Squeezer, the newsletter that reminds you of some of the circumstantial evidence and brings you updates and insights along with timely information about our favorite Activist Investor, Ryan Cohen, and our favorite stocks - GME and BBBY.

For those of you who weren't around in the beginning, this tweet by Ryan Cohen is what started it all:

A little over a year ago a tweet he - well, tweeted is getting another look:

Monday, Brett Icahn, son of billionaire investor Carl Icahn, resigned his post from the board of directors at Newell Brands. For those of you not familiar, Newell Brands is the parent company of consumer products like Sharpie, Coleman, Rubbermaid as well as baby brands like Aprica, Baby Jogger, Century, Graco, Nuk and Tigex.

We've mentioned previously about the connection between Newell Brands and Bed Bath & Beyond (Newell has a good amount of product in Bed Bath).

Investors are speculating that this is an action bringing the Icahn connection one step closer to being accurate. The thought is that Brett left his board member position as to not have a conflict of interest as this merger/acquisition/takeover finalizes.

Wednesday Recap: BBBY traded between a low of $1.01 and a high of $1.10 before closing at $1.03. Trading volume was 48.15 million shares.

Cost to borrow: There were 700,000 shares available to borrow this morning and as of now, 200,000 remain. The cost to borrow has remained extremely elevated at 122.1%. 

Pre market: Bed Bath and Beyond is trading up $0.02 to $1.05 an increase of 1.80% on over 1.6 million volume.

Max pain: The current max pain for BBBY has remained at $2.00.

Wednesday Recap: GME traded between a low of $15.70 and a high of $16.69 before closing at $15.95. Trading volume was 4.54 million shares.

Cost to borrow: There were 250,000 shares available earlier this morning. Currently there are 20,000 remaining. The cost to borrow has remained steady at 9.2%.

Pre market: GameStop is trading up $0.03 to $15.98 an increase of 0.19% on around 35 thousand volume.

Max pain: The current max pain for GME has dropped to $19.50.

Did you know?

Brett Icahn co-managed the Sargon Portfolio of his billionaire dad's investment fund for years. The portfolio performed very well and reached $8 billion in size. Under a 2012 deal struck with Carl Icahn, Brett Icahn received a payment at the end of September 2016 equal to 7.5% of the profit the Sargon portfolio generated over an annual return hurdle of 4%.

A Little Data on Short Squeezes

u/Region-Formal is a respected member in r/BBBY. He publicly publishes periodic posts (that's a lot of p's) with deeper insights into squeeze signals, technical analysis and patterns.

Yesterday, he shared a post where he provides data on 10 previous short squeeze companies and how they fared.

It's worth a read: 

https://www.reddit.com/r/BBBY/comments/11rwpz8/some_of_you_are_still_skeptical_about_short/

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.