Wednesday - February 1, 2023

Today's newsletter will take 2.27 minutes to read.

DRS UPDATE: 51.38*% (estimated percent of GME shares direct registered)

*source: Computershared.net

On tap this morning:

• Tuesday recap

• Did you know?

• The BBBY Bond Prices Have Been Rising

Good Morning! This is Mother Squeezer, the newsletter that feels like we're getting close and brings you updates and insights along with timely information about our favorite Activist Investor, Ryan Cohen, and our favorite stocks - GME and BBBY.

We learned of some large buys of BBBY yesterday by some institutions. Barclays revealed acquiring a rather large stake of over 550,000 shares. Additionally, reviewing a 13F filed by Everence Capital, they added 44,250 shares to their portfolio since last quarter.

Call us crazy but if BBBY were going bankrupt, would it make sense for these institutions to pick up such large positions? We don't think so.

Another interesting development to note, yesterday headlines were letting us know that BBBY was closing its Lewisville, Texas distribution center. At first glance, this may sound like a negative development. However, it's interesting to note that GameStop has a distribution center only 10 miles away in Grapevine, Texas.

Last week we learned that GameStop closed their Kentucky distribution center. It's interesting to note that BBBY has a rather large distribution center 400 miles away in Georgia.

We're not jumping to any conclusions but the coincidences are sure piling up.

Tuesday Recap: BBBY traded between a low of $2.60 and a high of $2.96 before closing at $2.82. Trading volume was 28.09 million shares.

Cost to borrow: There were 150,000 shares available to borrow this morning and as of now, 0 remain. The cost to borrow has remained extremely elevated at 219.6%.

Pre market: Bed Bath and Beyond is trading down $0.11 to $2.71 a decrease of 3.90% on over 600 thousand volume.

Max pain: The current max pain for BBBY has dropped to $3.00.

Tuesday Recap: GME traded between a low of $21.30 and a high of $22.05 before closing at $21.87. Trading volume was 3.12 million shares.

Cost to borrow: There were 1,300,000 shares available earlier this morning. Currently there are 300,000 remaining. The cost to borrow has remained steady at 19.7%.

Pre market: GameStop is trading down $0.11 to $21.76 a decrease of 0.50% on 15 thousand volume.

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

Did you know?

Barclays traces its origins date back to 1690 as a business helping monarchs and merchants fund ventures around the world. Several family firms were later combined and the Quaker founders chose the name Barclay because it came first alphabetically among the list of directors after a big amalgamation in 1896.

The BBBY Bond Prices Have Been Rising

The BBBY 2024 bonds have been climbing as of late. They were up 71% earlier today after being up about the same yesterday.

Being up around 144% in the last 2 days leads us to believe either someone "knows something" or investors are seeing an attractive opportunity measured against the risk.

We'll continue to monitor and bring you updates.

Fun fact, Carl Icahn has been known to acquire large stakes in companies by purchasing undervalued bonds.

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.