Max Wordingham

[Lauren Thomas @laurenthomas]

🚨🚨🚨SCOOP: @ryancohen's GameStop is offering to buy eBay for $125/sh, or $56 billion. GameStop has built a roughly 5% stake in eBay already. I spoke to Ryan Cohen exclusively about why he's pursuing this deal. $GME $EBAY

https://t.co/bDWA6yRKo0

[Ryan Cohen @ryancohen]

Proposal to acquire eBay.
https://t.co/FwjcxbDmyt

[Gucci @guccithealien]

HE WASN'T MOVING LIKE THIS IN THE COMICS WHAT

[Jynxzi @jynxzi]

1st place in $100k Chess Tournament 🥇

Giving away $20,000 to 10 people who like & RT ❤️

[GGM1 Coconut @JamaicanCocoRL]

An Open Letter to @EpicGames, @RocketLeague, and @TimSweeneyEpic:

Not another hate post. Not personally calling out the developers of Rocket League unfairly. But a genuine plea for help, because the game I love is in an inexcusable state.

Up until recently, I thought that posting about cheating would only make it worse. I tried not to make content with DDoS and/or botting being the subject, as to not popularize it and introduce more people to it.

Unfortunately, when every single top content creator can't go 3 games in ANY ranked game mode without running into bots, that same philosophy just doesn't hold up.

Everybody knows how large of an issue this is now. The bots are everywhere, and there is NO hiding it. The root of the issue? People buying accounts that are boosted to SSL.

And it seems like there are several solutions to be implemented that would help curb this issue. To name a few:

- Prevent fresh accounts (less than 2000 lifetime wins) from achieving SSL rewards
- Hardware bans (EAC will make this possible afaik)
- Detect suspicious account activity (Unusual MMR gain, playing from different locations in the world)
- Remove split screen ranked
- Make accounts be 2FA enabled and linked to a phone number
- Disable third party injection into the game
- Reports for "Cheating" automatically upload replays to a replay data parser that can detect inhuman consistency in movements (such as https://t.co/6tSJ7ayBCh)
- MMR return system for players who lost MMR to cheaters (Accounts would need to be harder to make before this, to prevent extreme MMR inflation)
- Hiring 5-10 full-time employees to manually review reports from the game.

Obviously these solutions are not all simple. Many will require complex implementation and nuance in order to not harm the experience of a normal player. There needs to be a coordinated effort from Rocket League developers and Epic Games to tackle these cheaters, and eliminate the financial incentive that these cheaters have to mass boost accounts using bots and DDoS.

And the part that really hurts? It just seems like the Rocket League team is simply not staffed enough to make that coordinated and large scale effort.

Despite Epic Games making more revenue by:
- Taking away trading
- Increasing item shop costs
- Seeing a massive surge in player count due to streamers like @jynxzi getting into the game

It seems, from an external perspective, like all this extra revenue is not being reinvested into the game and developer team in a way that makes the experience better for the average player.

This game has survived and THRIVED for almost 11 years now. Everybody who gets into Rocket League gets hooked for the rest of their life. The game itself, of course, but also one of the most electric esports in the industry. It all hooks people in and makes them dedicated Rocket League fans for life.

Am I going to sit here and lie on the timeline and say that I'm going to quit the game? No. I have more passion for creating content, and even improving my competitive skill in this game, than I ever have had before. Not only that, but I'm lucky enough to call Rocket League content creation my full time job. That's not something I could so easily give up.

Rather, I love this game so much that I want to see it do well, and for the game to prosper in the way that this large community of Rocket League fans KNOWS it can, change needs to start from the top.

So Epic Games, Tim Sweeney, Rocket League. Although you might see increased player counts right now, due to the influence of some of the largest streamers in the world getting into Rocket League, understand that hype is short.

If you really want to hook these new players, and make them players for life, fix the issues currently plaguing your games. Make it so your creators and pros can actually play your game again. Show us that we are heard, so that we can wholeheartedly recommend Rocket League to our audiences as the game to play.

Thank you for taking the time to read this. I just hope that someone who cares was able to see this, and get the message where it needs to go.

With Concern,
Coconut ❤️

[Paddy Power @paddypower]

🎯 SEMI FINAL NIGHT AT THE ALLY PALLY? 🎯

REPOST this for a chance to win a pair of tickets for the Paddy Power World Darts Championship Semi Final.

Remember, you could even win £60,000 when you're there, thanks to our 9 Darter Bonus!

As part of THE EVEN BIGGER 180, we are handing out £180,000 when a 9 darter lands during the World Darts Championship

That's:
£60k to @ProstateUK
£60k to the player
£60k to a fan in the crowd

T&Cs below

[Max Wordingham @max_wordingham]

@peruvian_bull @Blockstream @BlockstreamJade 83,890

[Max Wordingham @max_wordingham]

@Comedyorwat 849

[Cassandra Unchained @michaeljburry]

It was complicated with $GME. In some ways, I wasn't really done in 4Q 2019.

[Kashyap Sriram @kashyap286]

When you need to tell investors you're not another Enron, it's already too late.

Everyone knows $NVDA uses SPEs like $CRWV and other neo-clouds for revenue round tripping.

Thanks to the work of @kakashiii111 @DarioCpx and others, the evidence on Nvidia using their Singapore entity to skirt export controls is overwhelming.

Auditors know that classifying "multi-year cloud agreements" as off-balance sheet liabilities rather than as operating or financial leases is fraudulent.

Saying we're not committing fraud is not going to save the company from the consequences of committing fraud. SOX exists for a reason.

[JustDario @DarioCpx]

I wrote FIFTY research articles on Nvidia and the whole AI bandwagon shenanigans in the past 2.5+ years (all public & free, no substack or paywalls) plus countless of posts here on X

If you are curious to know how deep is the rabbit hole (way deeper than what people still perceive) here is the whole archive: https://t.co/eP149nuqYd

I am grateful to all my dear followers who supported my crusade against the biggest fraud in history, I couldn’t have made it till now without all of you 🙏

[Max Wordingham @max_wordingham]

@peruvian_bull Can’t buy more or exercise mine can only sell (UK based).

[bad robot ventures @foxenflask]

$GME Q2 2025 Earnings Summary:

• Net sales $972m compared to $798m in Q2 2024 and $732m in Q1 2024 (+21.8% YoY, +32.8% QoQ)
• SG&A down to $218m from $270m YoY, which is 22.4% of net sales in Q2 2025 compared to 33% of net sales in Q2 2024 (huge double digit % shift)
• Operating income was $64.7m compared to a $22m loss in Q2 2024, also this is the first non-Q4 profitable quarter reported since 2021
• Net income was $168.6m vs. $14.8m in Q2 2024, and up from 44.8m in Q1 2025
• Adjusted net income $138.3m compared to an adjusted net income of $5.2m in Q2 2024
• Cash, equivalents and marketable securities were $8.7bn at the close of the quarter, compared to $4.2bn at the close of Q2 2024
• Bitcoin holdings were valued at $528.6m at the close of the second quarter, cost average revealed to be around ~$106k (total spend was $500m on BTC deployments by the end of the quarter)

Some things to note

Before I go into specifics, I want to note that while the standard comparison is YoY, GameStop’s decreased footprint from early 2024 (~20-25%) makes Q1 25’ results more of an apt comparison than Q2 24’ to judge continued business performance and growth. That being said, an 525% change in EPS YoY is nothing short of historic and incredible.

The hardware and accessories numbers, similarly compared to Q1 25’, shows incredible execution from GameStop on the Switch 2 launch. Besides the incredible sales numbers for the console itself, the focus and effort by front line employees on selling accessories during the point of sale for the console cannot be understated.

I expected software to lag a little from Switch 1 game sales being replaced, but Nintendo reported strong Switch 1 sales during the Switch 2 release period and in general even though Switch 2 software sales were strong, this is the only category that decreased from Q1 2025 but not by much. This strong software performance in the face of continued reduced software sales due to a move to digital downloads is still encouraging. It is a testament to both great execution and a strong line up of AAA + other games coming out across all platforms this year. Also want to note I appreciate Nintendo’s strategy of spreading out the exclusive Switch 2 title releases to boost sales for retailers.

The three quarters-in-a-row of collectibles growth is insanely impressive. This quarter saw another 7.46% in collectibles revenue growth from Q1. All from retail card drops, huge uptick in graded slab sales online and other collectible sales like Funko. Powerpacks wasn’t even a part of this segment this quarter (beta only live for the last few days of the quarter), and I estimate that will produce ~$50m/mo in revenue in 12-18 months (with an obvious ramp up).

Overall, the legacy business crushed it on all fronts this quarter. Worth noting that when Switch 1 released in 2017, the quarter after the release quarter was actually stronger when comparing YoY % increases caused by Switch 1 release. So I’m excited for Q3! Once again, the gaming release line up / pipeline (more hardware like ModRetro and Xbox handheld, plus lots of new software) is looking absolutely stacked.

On the investment side of things, we finally know the bitcoin cost average. Already up ~5% on the initial deployment as of the end of the reporting period. Pretty solid contribution to the EPS thanks to FASB reporting rules for BTC. Despite many short term / short sighted traders labeling Ryan’s entry into this investment as a fumble, it is obvious from Ryan’s known investment profile that his time horizon for a deployment into a treasury asset for GameStop’s investment vertical will prove them wrong.

Overall, GameStops investment vertical continues to impress (not even mentioning the cold hard cash generation from interest income), with the QoQ accretive changes on the balance sheet and the massive contribution to EPS. $8.7bn in cash and cash equivalents, $10.3bn in total assets on the balance sheet. QoQ Stockholders’ equity continues to increase.

GameStop is firing on all cylinders. Thank you @RyanCohen and all of the people on the front lines in our stores and warehouses for an amazing quarter! The community also came together as always and really made the PowerPacks launch / continued collectibles growth happen. So thank you to everyone that’s always just so passionate and pumped about GameStop!

GameStop has issued a warrant dividend to common stock holders. I am yet to do a deep dive into this offering but it looks juicy and I will post my thoughts soon. Power to the players 🚀

[Larry Cheng @larryvc]

GameStop Announces Dividend of Warrants to Shareholders:

- 1 warrant for every 10 shares of $GME common stock held
- exercise price of $32.00
- expiration date 10/30/26
- warrants are freely tradable on NYSE: GME WS

Full details below:

https://t.co/4A4eHJ75jo

[Ryan Cohen @ryancohen]

not bad for a piece of crap retailer

[Mohamed Salah @MoSalah]

You’ll be remembered for your loyalty and dedication every time you were called upon. You leave as a champion, and I’ve got no doubt you’ll do big things at your new club. They are lucky to have you.

[Liverpool FC @LFC]

We have completed the transfer of Alexander Isak from Newcastle United on a long-term contract 🙌🔴

[paul joyce @_pauljoyce]

Liverpool and Newcastle United agree Alexander Isak deal at £125 million. Player expected to sign six year contract

[Fabrizio Romano @FabrizioRomano]

🚨💣 BREAKING: Alexander Isak to Liverpool, here we go! Deal agreed now for £130m transfer fee. Record move for Premier League.

Isak, on his way today for medical tests as new Liverpool player after long term deal agreed months ago.

It was always ONLY Liverpool for Isak.