Wednesday - February 22, 2023

Today's newsletter will take 2.83 minutes to read.

DRS UPDATE: 59.48*% (estimated percent of GME shares direct registered)

*source: Computershared.net

On tap this morning:

• Tuesday recap

• GameStop NFT update

• Did you know?

• Readers Write

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

Well, BBBY sealed the deal. We can officially put the bankruptcy concerns to rest...officially. Bed Bath & Beyond officially announced that the bond payments would be paid on February 28, making them on time.

Since we've been bullish on the company and trusting what their plan, this comes as little surprise to us. Still, it's nice to see the official announcement to what we were expecting.

Tuesday Recap: BBBY traded between a low of $1.60 and a high of $1.80 before closing at $1.64. Trading volume was 49.18 million shares.

Cost to borrow: There were 400,000 shares available to borrow this morning and as of now, 0 remain. The cost to borrow has remained around 101.1%.

Pre market: Bed Bath and Beyond is trading up $0.04 to $1.68 an increase of 2.44% on over 1.4 million volume.

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

Tuesday Recap: GME traded between a low of $20.63 and a high of $21.83 before closing at $20.66. Trading volume was 3.11 million shares.

Cost to borrow: There were 350,000 shares available earlier this morning. Currently there are 350,000 remaining. The cost to borrow has remained around 12.8%.

Pre market: GameStop is trading up $0.11 to $20.77 an increase of 0.53% on around 25 thousand volume.

Max pain: The current max pain for GME has remained at $20.00.

GameStopNFT tweeted:

NFT maps...you saw them here first.

Did you know?

Bed Bath & Beyond had a market cap of $16.96B in 2013. That's about 88.5x higher than where it is now ($191.614MM).

Readers Write

We're looking forward to your questions about BBBY, GME, Ryan Cohen and RC Ventures. Send them our way!

Justin in Marietta, Georgia writes:

This is all new to me and I read every newsletter, but what does being on Reg SHO do?

Excellent question Justin.

Regulation SHO is a set of rules from the Securities and Exchange Commission (SEC) implemented in 2005 that regulates short sale practices. Regulation SHO established "locate" and "close-out" requirements aimed at curtailing naked short selling and other practices. Naked shorting takes place when investors sell short shares that they do not possess and have not confirmed their ability to possess.

Per the SEC, Rule 204 provides an extended period of time to close out certain failures to deliver. Specifically, if a failure to deliver position results from the sale of a security that a person is deemed to own and that such person intends to deliver as soon as all restrictions on delivery have been removed, the firm has up to 35 calendar days following the trade date to close out the failure to deliver position by purchasing securities of like kind and quantity. Such additional time is warranted and does not undermine the goal of reducing failures to deliver because these are sales of owned securities that cannot be delivered by the settlement date due solely to processing delays outside the seller’s or broker-dealer’s control. Moreover, delivery is required to be made on such sales as soon as all restrictions on delivery have been removed and situations where a person is deemed to own a security are limited to those specified in Rule 200 of Regulation SHO. A common example of a deemed to own security that cannot be delivered by the settlement date is a security subject to the resale restrictions of Rule 144 under the Securities Act of 1933.

It looks like BBBY has been on Reg SHO for 34 days. If it stays on today, that would make 35.

Buckle up!

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

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.