🧵 $GME × Toys “R” Us Canada
GameStop reopening select closed stores sent me down a rabbit hole.
I found some interesting connections.
Some are FACT 🟢
Some are TINFOIL 🥫
Keeping them clearly separated. 👇
1/ FACT 🟢
GameStop recently announced select previously closed stores are REOPENING.
Meanwhile, collectibles have become a huge part of the business:
• $356.3M Q2 sales
• +57% YoY
• 45.1% of total sales
$GME isn’t just a video game retailer anymore.
2/ FACT 🟢
Meanwhile in Canada:
Toys “R” Us Canada went through CCAA restructuring.
Its Canadian IP was sold separately from most physical operating assets.
The buyer named in the purchase agreement:
AD POPULUM, LLC — “or its nominee.”
3/ FACT 🟢
Ad Populum is controlled by Joel Weinshanker and operates a large toys/collectibles ecosystem including:
NECA
WizKids
Kidrobot
Rubies
Diamond-related assets
others.
GameStop already sells products from this ecosystem.
4/ FACT 🟢
The Toys “R” Us Canadian trademarks ultimately transferred July 13, 2026 to:
NEXT CENTURY IPCO CAN ULC
The original agreement allowed Ad Populum to use a nominee.
This strongly points to Next Century being the entity used to hold the acquired Canadian IP.
5/ FACT 🟢
Now the interesting part:
Weinshanker has DIRECT history with GameStop.
MovieStop originated from GameStop.
Weinshanker later acquired MovieStop through an acquisition vehicle, with GameStop’s remaining preferred interest redeemed in the transaction.
6/ FACT 🟢
There was even:
GameStop, Inc. v. Joel Weinshanker
A federal contract lawsuit.
So this isn’t just:
“NECA products happen to be sold at GameStop.”
There is documented historical business interaction between Weinshanker and GameStop.
7/ FACT 🟢
Look at the ecosystem overlap:
$GME:
🎮 Gaming
🃏 Cards
🧸 Collectibles
🏪 Retail
Ad Populum:
🧸 Toys
🦸 Collectibles
🎭 Licensed IP
📦 Distribution
Toys “R” Us:
🦒 Massive toy retail brand/IP
Interesting pieces.
But…
8/ TINFOIL 🥫
I found NO evidence that:
❌ GameStop owns Next Century
❌ Ryan Cohen owns/invested in it
❌ RC Ventures invested in Ad Populum
❌ GameStop financed the TRU deal
❌ Cohen + Weinshanker are working together
Important distinction.
9/ TINFOIL 🥫
Still, the timing caught my attention:
TRU Canada IP changes hands → Ad Populum/Next Century.
Ad Populum already overlaps with GameStop’s collectibles ecosystem.
Then $GME starts selectively REOPENING stores after years of optimizing its footprint.
Could be completely unrelated.
10/ 🥫
But IF these ecosystems ever became more closely aligned:
GameStop retail + gaming + cards + collectibles
PLUS
Ad Populum toys + licenses + distribution + TRU IP
…that’s an interesting physical retail combination.
BIG “IF.”
11/
So NO:
“GAMESTOP IS BUYING TOYS R US!!!”
There’s no evidence of that.
The actual DD:
🟢 Weinshanker ↔ GameStop history
🟢 Ad Populum products ↔ GameStop
🟢 Ad Populum → TRU Canada IP
🟢 TRU trademarks → Next Century
🟢 $GME selectively reopening stores
The bridge connecting all of it?
🥫 Not found.
Yet.
I need more wrinkles 🧠 digging through corporate records, filings and connections to see if there’s anything deeper here.
If anyone finds a DIRECT link between Next Century / Ad Populum / Weinshanker and RC Ventures or current $GME — drop the receipts.
Until then:
Facts = facts. 🟢
Tinfoil = tinfoil. 🥫
But this one is going on my watchlist. 👀
$GME 🚀
$GME
It would be hilarious if @ryancohen landed at 10% of GameStop with a $7.41 average… or $8.0085. BOOBS. 😂
At a $24.20–$25 average share purchase price, back-of-the-napkin math says exercising all his warrants plus buying another ~6.59M shares could get him there if the warrant exercise price were lowered to:
👀 $9.87–$11.28 → $7.41 average
😂 $18.02–$19.43 → $8.0085 average
And yes, GameStop’s warrant agreement actually allows the company to lower the exercise price, subject to applicable rules.
Pure tinfoil math, not a prediction. Assumes nobody else exercises and no other share-count changes—otherwise the 10% calculation moves.
Imagine the filing. 😂
$GME’s bid for $EBAY is basically a setup move.
No matter what $EBAY does:
Ignore → $GME gets attention
Reject → $EBAY looks defensive
Engage → validates $GME
Counter → could push $GME higher
Deal may not happen—but $GME still wins the narrative.
(Speculative, not advice)
6/
And here’s the wild part:
Even that POSSIBILITY likely pushes $GME higher.
So $GME kind of engineered a win-win:
ignored → attention
engaged → validation
countered → upside
Your move, @eBay
@gamestop just threw a grenade at eBay.
And now $EBAY can’t really ignore it.
🧵 (Speculative — not advice)
1/
$GME offering ~$125/share for $EBAY = roughly a $55–60B deal.
GameStop is way smaller than that.
This isn’t a normal acquisition. It’s a statement.
Genuinely curious:
Do you see this as just normal cycles of global instability…
or do you think these kinds of pressures are accelerating change faster than expected?
What’s your take?
Not gonna lie… something feels different lately.
Remember how fast everything changed during COVID-19?
One minute life was normal… then suddenly:
Work from home
Online everything
Daily routines flipped
It didn’t feel planned. It just happened fast.
Big shifts usually don’t happen because everyone agrees.
They happen when conditions start pushing behavior in the same direction.
EVs, solar, alternatives—
they’re no longer just “future tech” to a lot of people.
They’re starting to feel like options people have to consider.