Nu zijn ze toch echt rijp voor een Private Equity buy-out..

Verdubbeld aan 4,83.. breakeven aan 5,75 nu.

In sneltempo naar beneden. $4.2 ondertussen.

Buyback authorization is $300m
Tender: 12m stuks aan $5.2 = $62.4m
Blijft over: $237.6m
Daarmee kunnen ze aan de huidige koers nog eens 56,5m aandelen opkopen.

Aantal uitstaande aandelen zou dan dalen met 67% naar 34m... Waarna het aandeel zou noteren aan 1x de winst/vks. Allemaal theorie want ze hebben ondanks de toelating nog geen enkel aandeel op de open markt gekocht buiten die tender.

Oh, en ze hadden eind vorig jaar $800m net cash. Zelfs als je die voorzichtigheidshalve niet meerekent, noteert het aandeel alsof een faillissement imminent is. Nog welgeteld 1,5% van PF.

Ingevolge tender:
"However, under applicable securities laws, GameStop may not repurchase any shares until July 25, 2019."

jens_dev schreef: ↑18 juli 2019, 22:05 Ingevolge tender:
"However, under applicable securities laws, GameStop may not repurchase any shares until July 25, 2019."

Inderdaad, 10 day freeze period. Bij 50% short. http://shortsqueeze.com/shortinterest/stock/GME.htm

Gisteren nog bijgekocht aan 4,16. Hoe ik het ook draai of keer: ik zie geen enkel scenario waarbij dit naar beneden blijft gaan zonder bounce/shortsqueeze.

Freeze period over. Met de 237m die nog over is kunnen ze de prijs nu ballistic laten gaan. We zullen zien wat het geeft. Veel bijgekocht laatste dagen en nu mijn grootste holding..

Eergisteren ook een (heel klein) gokje geplaatst aan 4.05 dollar. Het gevolg van hitte en Gentse feesten zeker?

Om deze reden heb ik nog een kleine long positie.
https://seekingalpha.com/article/428013 ... ging-price

In navolging van de mass shootings en de tweets van Trump heeft Walmart al zijn videospelletjes behalve diegene met de laagste geweldrating verwijderd uit zijn rekken.
Wapens kan je er wel nog altijd kopen.

Kan goed nieuws zijn voor GameStop.

Er scheelt toch echt iets met die Amerikanen hé. Het probleem is niet dat je oorlogswapens in de supermarkt kunt kopen. Nee, het is de schuld van gewelddadige videogames die wereldwijd verkrijgbaar zijn maar alleen in de VS tot mass shootings leiden.

Ik zag dat Ray Dalio zijn vingers er ook aan heeft verband vorig jaar. En Scion Asset Mgmt van Michael Burry, die in The Big Short geportretteerd wordt, zit long. Wat er ook gebeurt, spannende case waar ik sowieso lessen uit zal trekken. Ik weet alleen nog niet welke [emoji854]

SA:

Michael Burry urges big GameStop buyback
Burry's (Big Short fame) Scion Asset Management is an owner of about 3M shares, or 3% of GameStop. With a price below $4 per share, says Burry, the market cap is less than $300M - well less than cash on hand of $480M. Given this, argues Burry, the company could easily retire most of its outstanding shares, and still have plenty left to invest and pay down debt.

Blijft spannend

Volledige brief:

Dear Members of the Board,

Scion Asset Management, LLC and its affiliates (“Scion”) own approximately 2,750,000 shares, or about 3.05%, of GameStop, Inc. (“GameStop”) common stock.

As mentioned in our previous letter to the board, we have concerns regarding capital management at GameStop. Given recent GameStop common stock prices under $4 per share, we must re-state that GameStop complete the remaining $237,600,000 share repurchase at once and with urgency.

Given the market capitalization of GameStop at $290 million at the close on August 15th, completing the authorization would retire over 80% of GameStop’s outstanding shares. Depending on the timing and quality of execution, such a repurchase would increase earnings per share dramatically - far more than any other possible action on a per share basis.

The numbers are striking and demand action. We estimate that GameStop now has in excess of $480 million of cash, more than enough to complete the share repurchase authorization and still invest in the business and pay down debt.

Through August 15th, a total of 11 trading days, 50,399,534 shares have traded. At this rate, for the month of August and for the third month in a row, the number of shares traded will exceed the total number of shares outstanding. Because of such high volume, we maintain that GameStop could pull off perhaps the most consequential and shareholder-friendly buyback in stock market history with elegance and stealth.

Shareholders staring at all-time lows in GameStop stock see little evidence that GameStop has effectively leveraged its elite position in the gaming universe as the new paradigm came into clear view over the last five years.

The unfortunate reality is that Amazon, not GameStop, bought Twitch in 2014. Instead, in 2014, GameStop started buying wireless store assets. And in 2017, Amazon, not GameStop, bought GameSparks - while less than a year ago GameStop reversed course and sold its wireless store assets. Shareholders are right to worry.

We expect GameStop’s business will perk up a bit during 2020 and 2021 as the new console cycle, with associated software updates and introductions, finally gets underway. But what is happening now in the stock is about more than late cycle doldrums or even the streaming paradigm – shareholders do not have faith in current management, and have not been inspired by new leadership policies.

Notably, as of July 31st, 2019, Bloomberg reports short interest in GameStop stock at 57,226,706 shares – this is about 63% of the 90,268,940 outstanding GameStop shares at last report.

We submit that when share prices are at or near all-time lows and more than 60% of the shares are shorted despite cash levels much higher than the current market capitalization, lack of faith in management’s capital allocation is the default conclusion.

All of this creates the opportunity to enter 2020 with a dramatically reduced share count along with multi-fold greater impact per share for every single other achievement of management. Consider as just one example that if the turnaround is successful, and if GameStop were able to shrink its shares outstanding to 30 million through the share repurchase, the $157 million dividend that was just eliminated would pay out around $5.25 per share.

The Board deemed up to $6.00 per share a good price for a buyback less than two months ago, and the price of the stock today is nearly half that amount.

We again advise the Board to represent shareholders well, and to ensure the execution of the remaining repurchase authorization in full.

Sincerely,

Dr. Michael J. Burry

Here we go..

GameStop +9% as 'Big Short' guy pitches long case https://seekingalpha.com/news/3493950?source=ansh $GME

Mooi weer, mooie dag, kon het niet laten toch een klein gokje te wagen 200 aandelen voor $4, ik ben benieuwd.