Looking at what @gamestop ($GME), @ryancohen, and the team have done since 2021 is so sexy.
ATM Share Sales (Equity Raises at Strong Prices)
• 2021:
• Apr: 3.5M shares @ ~$157.43 → $551M
• Jun: 5M shares @ ~$225.20 → $1.126B
Total 2021: ~8.5M shares, $1.677B
• 2024:
• May: 45M shares @ ~$20.74 → $933M
• Jun: 75M shares @ ~$28.49 → $2.137B
• Sep: 20M shares @ ~$20.00 → $400M
Total 2024: 140M shares, $3.47B
Convertibles (Project Rocket)
• Mar/Apr 2025: $1.5B 0% Notes due 2030 (~$29.85 conv. price)
• Jun 2025: $2.25B 0% Notes due 2032 (~$28.91 conv. price)
Total: ~$3.75B+ at 0% coupon
Warrants
• Sep/Oct 2025: ~59M warrants distributed (1 per 10 shares) @ $32 exercise price.
Potential ~$1.9B proceeds.
eBay Play (Project Sling)
• 2025/2026: Built ~7.78% stake in eBay.
• May 2026: Unsolicited $55.5–56B bid at $125/share (half cash, half stock).
Key Highlights
• Purchased 4,710 Bitcoin in May 2025 (~$513M at time of purchase) as treasury reserve asset.
• Delivered record FY2025 (ended Jan 2026): $418.4M net income (highest full-year in company history, +219% YoY).
• Launched @powerpacks (digital/physical PSA graded trading card platform) in 2026.
• Record Q1 2026 earnings: $389.6M net income (highest quarterly in company history), with collectibles revenue at $348.9M (41.8% of revenue, +65% YoY).
• June 2, 2026: Approved $2B share buyback program (through 2029).
Fortress balance sheet built with high-price ATMs, 0% convertibles, warrants, smart positioning, strong earnings, BTC treasury, and a fresh buyback authorization.
Can't wait to see what happens next! Did I get it all? Anything I missed?
@dutchtenderguy Intersting. If you were Ryan what moves or changes would you make right now to improve the stock price?
I'm still of the belief that the market has things wrong in the short term and at some point the stock price will catch up to the improved fundamentals and business growth.
@224osk@ryancohen Is there another one near by? Ryan said recently that around 80% of the US population is within a 15 minute drive of a store. If not, the website has really improved over the last few years.
CyberCrew is coming home to Ethereum. ⚡
But we're NOT simply reminting 100,000+ legacy NFTs 1:1.
We've built a migration system that accounts for how much you collected, WHAT you collected, and the rarity of what you held.
Instead of recreating every individual legacy NFT, each CyberCrew collection will have a new Collection NFT.
🧵 Here's how the migration works:
Do you have CyberCrew NFTs on Loopring or Taiko?
We are going to airdrop ETH Layer1 versions to every single holder, as long as you dont have them in a loopring smartwallet, which has lost support.
There is nothing you need to do except wait until we finalize execution.
Once that is finished, our Clone Card holders will be getting a GEN02 Airdrop.
Things will start moving very fast, so stay tuned for our Roadmap.
@gamestop offered @eBay $125/share (~$55.5B) in May.
Stock is now ~$101.
That’s roughly $11B less for eBay shareholders.
Board Chair Paul Pressler and CEO Jamie Iannone rejected the offer as “neither credible nor attractive.”
Did they violate their fiduciary duty by failing to seriously pursue that deal?
#EBAY #GME
Paramount $PSKY (~$9.5B market cap) is buying Warner Bros. Discovery for ~$110B with fully committed Ellison family equity + major bank debt = mainstream media calls it a totally normal mega-deal.
GameStop $GME (~$9.5B market cap) is offering ~$56B for eBay $EBAY (they already own ~10%) backed by ~$4B+ cash + $20B TD financing + ability to issue stock = mainstream media calls it the most absurd thing they’ve ever heard.
Why the difference?
Growth idea for @gamestop: Collector Vault Network.
Convert underused stores into certified climate-controlled storage + authentication hubs. Charge annual fees + insurance. Fixed lease costs become recurring high-margin service revenue and lock in the highest-value customers.
$GME