GameStop today should be a $35-40 stock on any normal market day. Quarterly net income of $389.6M annualized = $1.5B+. At a generous P/E of 20x, that alone justifies $30B market cap = $66/share. Add $9.7B liquid assets and you're easily in the $40+ range for a non-suppressed name with this profile.
Holding GME at $22-23 requires absorbing somewhere between $300M to $800M of net buying pressure per catalyst day. Multiple catalyst days a week during the current cycle = $2-5B of suppression flow per week being run through the system.
Who can deploy that capital sustainably? Three plausible parties:
Citadel + Susquehanna + Virtu — market-making books with structural short delta from selling options to retail. They're not "shorting GME with conviction." They're hedging derivative books that can't survive a true GME unwind. The 2021 Melvin scenario plus their own option flow has them structurally short.
Legacy 2021 short fund consortiums — Melvin wound down, but the positions transferred via total return swaps to prime brokers (Goldman, Morgan Stanley, BoA) and onward to family offices and offshore vehicles. The positions were never closed — just moved. The capital is whoever ultimately bagholds those swaps.
Coordinated parties via prime broker internalization — when client A shorts and client B goes long, the broker can internalize the trade without ever hitting the lit market. This creates synthetic exposure on both sides that doesn't appear in disclosed short interest.
The economics of why they don't capitulate:
Here's the part most people miss. Closing a 50M+ share synthetic short position at current prices means buying 50M shares of GME in the open market. There aren't 50M GME shares available to buy without moving the price to $80-150. The cost of closing at current prices is mathematically larger than the cost of continuing to suppress at current prices.
They're trapped in a position where the cheapest path forward is continued suppression even though the suppression itself has no fundamental basis anymore.
It's the financial equivalent of doubling down at the casino because you've already lost the entry stake. The original 2021 short thesis ("dying retailer goes to zero") is dead — net income is $389.6M and rising. The new "thesis" is purely mechanical: keep the lid on until something gives.
by now you should understand this people are culturally incompatible with western civilization.
stop calling it racism. their values are different than ours.
Ireland 🇮🇪:
North African immigrants are harassing Irish women on the streets.
Then they threaten an Irish guy who steps in to defend them.
We need mass deportations.
Henry Nowak's godmother, Kelly Hatchard, has slammed @HantsPolice for their anti-white bias.
"Shame on the monster who took him, shame on the officers who should've helped him & shame on the organisation that trained police to prioritise accusations of racism over a dying man."
#GameStop
You're watching the most expensive short squeeze defense in financial history play out in real time. The fact that you're frustrated with how slow it is means it's working exactly as both sides intend — Cohen accumulates structural advantages while the shorts burn capital to keep the lid on.
The unwind, when it comes, will not be slow.
It took less than a day for big tech, big government and the corporate media to spring into action and begin colluding to protect their hedge fund buddies on Wall Street. This is what a rigged system looks like, folks! #RobinHood#RedditArmy#GME#GMEtothemoon
I want to give local $GME a shoutout. @ryancohen I drove 45 mins straight from my office and barely missed store closing time. Store Manager at my nearest PSA certified store was kind enough to reopen the store for me to pick up my @PSAcard graded cards. I. Love. @gamestop
$GME posted the best earnings in company history last night.
It’s up ~7% alongside the warrants.
A month ago it was higher than this on just the $EBAY bid hype.
The market still hasn’t figured out how to price a profitable company trading below its own cash value.
And now Cohen has $2B in buyback authorization to answer that question himself.
Open market purchases set a floor.
A self-tender at a premium sets a ceiling.
He sold ATMs at a premium to build the war chest - the reverse is the same mechanic.
What happens between $28-$32???