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Wednesday - October 26, 2022
Mother Squeezer
October 26, 2022
Today's newsletter will take 3.01 minutes to read.
DRS UPDATE: 56.68*% (estimated percent of GME shares direct registered)
*source: Computershared.net
On tap this morning:
Tuesday recap
GameStop NFT update
Did you know?
What's the Significance of November 15?
Ryan Says
Good Morning! This is Mother Squeezer, the newsletter that rides the rises with you and brings you clever life hacks, updates and insights, along with timely information about our favorite Activist Investor, Ryan Cohen, and our favorite stocks - GME and BBBY.
Did you notice the volume? Both GME and BBBY had higher than normal volume yesterday...and that's a good sign!
Did you hear about the the road thief that stole all the road signs? He really pulled out all the stops. /joke
The leaves are changing which is a sign of the seasons and the holidays are upon us. We have Halloween in 5 days, then Thanksgiving only a month away and Christmas right around the corner. That brings us to today's clever life hack...if you're baking ginger bread houses and it doesn't turn out as intended...add a dinosaur!
What do dinosaurs use on the floors of their kitchens? Rep-tiles.
Earlier this morning, BBBY announced interim CEO Sue Gove as CEO:
"We are pleased to announce the appointment of Sue as Chief Executive Officer. Sue is the best person to serve at the helm of Bed Bath & Beyond and continue leading the Company," said Harriet Edelman, Independent Chair of Bed Bath & Beyond Inc.'s Board of Directors.
Read the full press release.
Tuesday Recap: BBBY traded between a low of $4.26 and a high of $5.53 before closing at $5.29. Trading volume was 51.88 million shares.
Cost to borrow: There were 300,000 shares available to borrow this morning and as of now, 4,000 remain. The cost to borrow has remained at 8.6%.
Pre market: Bed Bath and Beyond is trading down $0.40 to $4.89 a decrease of 7.56% on over 800 thousand volume.
Max pain: The current max pain for BBBY has remained at $5.00.
Tuesday Recap: GME traded between a low of $24.80 and a high of $27.79 before closing at $26.87. Trading volume was 7.79 million shares.
Cost to borrow: There were 450,000 shares available earlier this morning. Currently there are 60,000 remaining. The cost to borrow has remained steady at 9.0%.
Pre market: GameStop is trading down $0.27 to $26.60 a decrease of 0.27% on 10 thousand volume.
Max pain: The current max pain for GME has remained at $25.50.
GameStopNFT tweeted:
These aren't your typical GRAVESTONES. Contemplate a liminal space between life and death, earth and sky, aliens and nature with @AKJ_N5T. Available for your next existential crisis.
bit.ly/3Sjn8HQ
— GameStopNFT (@GameStopNFT)
12:27 PM • Oct 24, 2022
With Halloween right around the corner, you have to check these guys out!
Did you know?
Dinosaurs are still alive and with us today!
Don’t go running and screaming for help, though, unless you happen to be deathly afraid of chickens! In fact, all birds are descendants of dinosaurs – even the humble hummingbird. All the non-avian dinosaurs went extinct, but the avian dinosaurs evolved over the millennia into birds.
What's the Significance of November 15?
Bed Bath and Beyond made an attractive offer to the bond holders of the 2024, 2034 and 2044 bonds. That offer expires on November 15. Current speculation is that Carl Icahn is acquiring BBBY sometime between now and the end of the year.
Are the two related? It wouldn't surprise us. When researching Carl Icahn's strategies, he looks for companies that are undervalued and BBBY certainly fits the bill. He already has products sold in Bed Bath and Beyond from companies that he owns. Could he acquire BBBY and create efficiencies to further his interests? Absolutely - especially at these prices.
The writing is on the wall and we may see an explosive grand finale to this year or early into next year if all the pieces fall into place as we think they'll drop.
Ryan Says
Ryan commented this back in Auguest:
At least her cart is full 🌝
— Ryan Cohen (@ryancohen)
2:42 PM • Aug 12, 2022
We think the end is near and BBBY will be exploding before the end of January, are you ready?
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
BBBY: Ben - Mr. Business
GME: Richard Newton
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.
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