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DK BUTTERFLY FORMERLY KNOWN AS BED BATH AND BEYOND BONDS SKYROCKETING AMIDST SPECULATIONS OF THE ONCE BANKRUPT RETAILER TO EMERGE FROM CHAPTER 11 BANKRUPTCY
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As a proud GameStop Corp. investor and committed shareholder, I am voting YES for increasing the authorized share count and YES for Ryan Cohen's 100% performance-based option award.
My reasoning is simple, Ryan's turned this dead-and-broke retailer in a profitable cash fortress that's on the verge of completing a historic acquisition.
Regardless of whether the eBay deal goes through or NOT, I want the company to have a longer runway and the financial flexibility to swing big at a moments notice.
Not to mention, I support a CEO and leader who takes $0 salary and isn't afraid to go against the archaic corporate groupthink.
$GME
🚨 @RyanCohen calls out @eBay. 🚨
Then he walks onto @eBay and uses their own platform to prove his point.
A PSA 10 Trump Topps Now card with a @PSAcard estimate around $216 is already bid up to $1,525 with nearly a week left.
That is not just an auction.
That is a live demonstration of price discovery, scarcity, culture, attention, authentication, and marketplace liquidity all colliding in real time.
Now zoom out.
He is reportedly doing this with 20 items.
At this pace, he might use the proceeds to buy eBay himself.
But the joke is hiding the real lesson.
This is checkmate.
Ryan is not just telling eBay’s board they are underperforming.
He is using their own platform to show the world what they have failed to understand.
@eBay does not just have listings.
It has cultural inventory.
It has collector psychology.
It has trust infrastructure.
It has global demand sitting behind every rare, authenticated, story-driven asset.
Yet the board does not meaningfully buy shares, does not appear to act like owners, and does not seem to fully leverage the machine sitting directly in front of them.
@RyanCohen is turning their own scoreboard into the argument.
This is not trolling.
This is activist investing as performance art.
This is strategy with a receipt attached.
The man is showing that collectibles are not dead inventory. They are financialized culture. They are emotional markets. They are attention assets. And when the right operator understands that, a marketplace stops being a website and becomes an arena.
One day, Harvard Business School will write case studies on this.
The activist did not just call out the board.
He used their own product to expose the opportunity they were sleeping on.
Checkmate.
"aLL tHe moNEy FRom tHE SharINg MeCHanisM waS USed UP..." -🐦⬛🦑
Fact Check: I did say I had no long the triggering event would take...
Disclosure: I had no fuking clue it would take this fuking long...😅
The fact remains, we no know for sure why we haven't seen anything with BBBYQ, it's because all the money is frozen. There are different "pots of money which are full" according the judge, but none of them have been tapped into. Why is this?
One, it is probably the biggest RICO of all time, but also Sixth Street wants to credit bid, they said that day one. That credit bid might be considered a change of control. I don't know, and I actually don't care, because all I needed was the confirmation that the triggering event hadn't happened yet! I don't know how to convey how fuking bullish this is!! I mean, I knew it was the case, but to see it in writing is so fuking satisfying!!! fuk!!!
What does this mean timeline-wise?
I don't have a🔮, and that HBC/Sixth Street and the RC cases might need to finish up, which I think is scheduled out for the next couple months, but it is happening!
It has been so long, and I'll leave it to someone else who wants to go into details, but roughly what I remember from the research I did like 3 years ago, is that basically the Plan Man has to ask whether there is any more money, and then someone can bid for assets. That bid goes it order of the priority.
As we have seen, a lot of cases have been finishing up and clawing back money for the estate like the shipping company stuff. They have been adding cases, and I don't know if this is one thing we are waiting for, but I think once he has a total of how much they will be clawing back, he will then tell the judge, and then the size of the credit bid can be proportioned. The number of BBBYQ shares Sixth Street will get isn't set in stone, and if money money than expected comes in then they will get less shares. That doesn't really matter, the important thing is that things have to go in order and we are literally waiting for the first domino to fall which is the sharing mechanism. Then the third party release money, etc.
TDLR: We won!