/r/wsb autists taking on a wallstreet hedgefund. Elon musk involved as always - Gamergate 2: financial boogaloo

[Gimmick Account]

GameStop is hiring a crypto expert and since paying off those notes a couple years early (which they can do at any point now that they've published the notice) means they can issue dividends again, due to the timing there's speculation that the plan is to issue a special crypto dividend to force a recall (ie the uncertain value of the dividend means shorters/brokers can't easily just pay a cash equivalent in theory, so every share owner needs to be tracked down) to fuck shorters severely. This has been attempted before, but it sounds like bullshit to me since GME execs have seemed pretty averse to touching the poop so far, and it's a great way to get the SEC on your ass if they think you're just doing it to manipulate a squeeze (this has also happened before).
Maybe it's just part of the transformation plan. Get some gamstopcoin with your order, buy games with buttcoin (surprised this isn't more common speaking as a game dev, we'd fuckin take it sure), that kinda shit.

 

[Homegrown Homophobia]

I'm one of those retards who bought at the height and is still holding it. I've figured if I'm this far in (Only 4 shares) just ride it out to the very end and I'll make the loss back elsewhere in non meme stocks and ETF's.

But on the bright side, speculating on gamestop got me seriously interested in crypto investing and I've been making quite a bit doing that.

 

[Deadwaste]

im still surprised the gme stock has been going as well as it has. i wouldve thought it'd go back to like 50 dollars or whatever but nope.

 

[Gimmick Account]

Haha shit people noticed all the lights on in Citadel's office building at 3am, and google's foot traffic thing shows the building was busier than the peak daytime average. So Reddit decided they must be in there shredding papers (some rumour about US Treasury announcing they're charging some institutions with money laundering? New SEC rule in a couple days too) and some nerd flew his fucking drone up there to peek in the windows.



edit: wtf maybe something is going down

Edit4: Reddit reporting coincidental midnight/curfew oil burnings with generally doubled google activity at banks/clearing houses/etc in like a dozen different cities/countries on the same day: https://old.reddit.com/r/Superstonk/comments/mtgr19/a_breakdown_of_citadels_overnight_activity/

Reddit also claiming the people inside noticed the attention and turned the lights off, accompanied by a 3am google search spike for "drone laws" and "r/superstonk" lol. But indeed there are earlier pics of the whole office lit yet you can see the blue glow at the top of my first pic of someone working in the dark (Citadel is the top 6 floors of that building, upper ones would be execs).
/biz/ was also abuzz at the time so I don't know who really gets credit. Obviously reddit thinks it's themselves. They did declare a truce this week though

Edit2:

Edit3: Huh, the SEC gave out its second largest whistleblower payout *ever* on Thursday.

let's hope they got fucking raided


Edit5: full video recorded by some dumb idiot too retarded to zoom in on the area that actually had people in it: https://www.youtube.com/watch?v=lvZUvH-Q988

Edit6: Looks like ABN Amro, a Dutch clearing house of Citadel's and one of the places I mentioned people noticing lit up after hours (breaching their strict covid curfew apparently) just got busted for money laundering.

Edit7: Danske Bank (another on the slumber party list) CEO just announced he's stepping down over criminal allegations: https://www.spiegel.de/wirtschaft/u...zahlen-a-71738b42-7bcb-4472-af99-aa3fd854e833. They've been involved in a massive laundering scandal since 2018. Also, he's a former ABN Amro exec.

 

[Gimmick Account]

Also announced on Thursday (article from Friday):

Monday (today) article:

Wall Street’s Mega Bank CEOs To Be Hauled Before Congress in May; Nobody Will Say Why​

We’ve been closely monitoring the Senate Banking and House Financial Services Committees for the past 15 years. We can think of no other time when the Committees issued a joint statement to announce they were hauling the most powerful men on Wall Street to testify, without offering a scintilla of information on the topic of the hearing.

The press statement simply indicated that the Senate Banking Committee would hold its hearing on Wednesday, May 26 at 10 a.m. and the House Financial Services Committee would hold its hearing the following day on Thursday, May 27 at 12 noon.

The announcement indicated that the following CEOs are scheduled to testify: Jamie Dimon of JPMorgan Chase; David Solomon of Goldman Sachs; Jane Fraser of Citigroup; James Gorman of Morgan Stanley; Brian Moynihan of Bank of America; and Charles Scharf of Wells Fargo.

The joint press release did not give a title for the hearings nor the topic for the hearings. There is nothing on the websites for either Committee that sheds any further light on the matter.

The only conclusion that we can draw is that more than a month before the hearings are set to be conducted, the Chairs of these two Committees – Senator Sherrod Brown (D-OH) and Maxine Waters (D-CA) – wanted to send a message to Wall Street’s CEOs that they have them in their crosshairs.

If past is prologue, which we pray it is not, the hearings will use such a buckshot approach to questioning the witnesses that there will be no meaningful takeaway to the public from the hearings. In April of 2019, when CEOs from the same banks appeared before the House Financial Services Committee, the topics ranged from the banks’ financing of fossil fuel companies; to “pink lining” (discriminatory practices against women); to racial preferences in hiring and promotion; to Jamie Dimon’s failure to pay his bank tellers enough to raise a child without going into debt; and Wall Street’s decades long practice of sending all customers and employee claims of wrongdoing into its own private justice system called mandatory arbitration – effectively closing the nation’s courthouse doors and pitting David against Goliath in the pursuit of justice against the most rigged and historically corrupt industry in America.

While each of these issues are critical to the national debate, dumping them all into one hearing where the Congressional questioner together with the witness get just a combined five minutes does a disservice to the seriousness of each issue. In fact, this approach has served to hold back change on Wall Street as news reporters simply grab the single most titillating detail from each hearing and put that in a headline.

The Senate and House should do what the smart Senate Banking Committee of 1933 did to deal with the serial corruption on Wall Street that had collapsed the U.S. economy and led to the Great Depression of the 1930s. It hired a former Chief Assistant District Attorney, Ferdinand Pecora, named him as its Chief Counsel, and put him in charge of the questioning and building of the case against the Wall Street bank CEOs in hearings that ran for three years and generated bold headlines on the front pages of newspapers across America.

Had that Senate hearing structure occurred following Wall Street collapsing the U.S. economy in 2008, there might have been meaningful financial reform instead of the toothless Dodd-Frank Act that has left the U.S. today with the very same dangerous mega banks on Wall Street that existed in 2008.

One topic that should be front and center at the May hearings is the fact that these giant Wall Street trading houses, all of which own federally-insured/taxpayer-backstopped deposit-taking banks, have effectively found a way to loan out their balance sheets to hedge funds, including those super-secretive hedge funds called family offices.

The implosion in late March of Archegos Capital Management, a hedge fund styling itself as a family office, brought stunning new details to light regarding the reckless manner in which Wall Street’s mega banks are handling risk.

Archegos is reported to have had approximately $10 billion of its own capital which it had leveraged up to a reported $100 billion or more in a handful of concentrated stock positions. The leverage came in borrowings from some of the biggest banks on Wall Street. When those stock positions began to implode by declines of 30 to 50 percent, the banks called on Archegos to post more collateral (a margin call). But Archegos did not have the funds to meet the margin call so the banks sold out the account in order to stem their own losses.

Thus far, Morgan Stanley has belatedly announced a loss of $911 million from its involvement with Archegos; Nomura has indicated that its losses could reach $2 billion; while Credit Suisse has announced a staggering $4.7 billion loss. How many other banks are simply remaining silent on their losses to Archegos, justifying that to themselves on the basis that the loss was not “material” to final quarterly results, is an open question.

The most dangerous aspect of the Archegos matter is that the mega banks on Wall Street had created a way for these lucrative family office hedge funds to dodge both Federal Reserve margin rules and SEC reporting rules. Under the Fed’s Regulation T, the banks should have demanded 50 percent initial margin for the stock trades in a margin account at a broker-dealer. But the banks structured their arrangement with Archegos as a derivatives contract, not a margin account, which the banks assert kept the ownership of the stocks with them while giving Archegos the upside and downside of the stock performance. The banks collected lucrative fees for this arrangement.

This structure also prevented the hedge fund from having to file reports of its stock holdings (known as a form 13F filing) with the SEC. Thus Archegos was able to operate without the awareness of regulators.

There are approximately 3,000 family offices globally, raising the question as to just how many more Archegos-type blowups are still lurking out there.

Another deeply troubling aspect that deserves questioning at the upcoming hearings is the media reporting that the Wall Street banks were classifying what were effectively margin loans to a hedge fund as simply commercial loans. If this reporting is correct, then hundreds of billions of dollars in “commercial loans” reported by these banks, which Congress and regulators assumed were going into productive businesses and job growth for the general economy, were simply fueling a stock market bubble.

 

[ditto]

Also announced on Thursday (article from Friday):
View attachment 2101704

Monday (today) article:

Just a reminder that Sherrod Brown and Maxine Waters were in Congress during the 2008 financial crisis..

 

[Meat Target]

Hearing on GameStop today

 

[Terrifik]

MASSIVE STOCK DROP OF CHINNESE STOCK AMC

.....
REASON:

https://www.sec.gov/Archives/edgar/data/1411579/000110465921070338/tm2117222d1_sc13da.htm

China’s Dalian Wanda Group has dumped almost all of its remaining holdings in AMC Entertainment for $426 million, bringing its stake down to just 0.002%, according to a Friday regulatory filing.

Since last Thursday, it has sold off 30.4 million of its AMC shares, leaving it now just 10,000 shares,

The development marks the conglomerate’s latest move to shed overseas assets and retrench in China, a process begun in recent years after it came under scrutiny from Chinese authorities, and likely hastened by a difficult 2020 pandemic year.

Wanda first acquired AMC in 2012 for a whopping $2.6 billion. It began pulling out of the firm last December, diminishing its stake to 23.08% of the company’s Class A common stock and 47.37% of the super-voting Class B stock.






On Feb. 1, it converted all of its Class B stocks to Class A, losing some control over the firm in exchange for the option to cash out. By March 3, it had given up its majority stake and brought its ownership down to 9.8%. It has continued to shed hundreds of millions of dollars in shares since, pulling back to a 6.8% stake as of early April.

AMC was hit hard by cinema closures brought on by the pandemic, reporting a net loss of $4.6 billion in 2020. But its stock has rocketed up 477% so far this year, in part thanks to day traders taking cues from Reddit forums.

Back in March, AMC Entertainment CEO Adam Aron said on a quarterly earnings call that Wanda still retained two AMC board seats despite its diminished stake.

“I can genuinely tell you that they have been an absolute delight for me to deal with Wanda over the past five years that I have led AMC. However, with no controlling shareholder, AMC will be governed just as is most publicly traded companies with a wide array of shareholders,” he said.

Response:

https://www.reddit.com/r/amcstock/comments/ngc2a2/this_important_post_is_being_taken_down_all/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

This important post is being taken down. All credit goes to u/beebsgaming​

DD
A Theory of Everything AMC: Wanda, AMC, the SEC, and Lawsuits
Disclaimer: Everything that is about to follow is speculation. It is purely a theory of mine based on known facts and common sense. Any dates included are to provide context. They do not indicate the beginning, middle, or end of the impending squeeze.
Disclaimer #2: I am not a financial advisor, this is not financial advice, I just really like this stock.
TL;DR- Wanda, AMC, and the SEC are working together to build a case against the major short sellers committing blatant fraud daily that is suppressing the price of AMC stock. Wanda and AMC will stand to make a lot of money in lawsuits for capital losses. Meanwhile, the SEC will be able to prosecute fraudulent entities using information shared by AMC.
TLDR TLDR: HOLD
The Players:
Wanda America Entertainment- Before February of 2021, Wanda had voting stake in AMC and was the single largest institutional shareholder of AMC. In early February 2021, Wanda converted class B common stock to class A common stock, which allowed them to sell shares on the open market. On March 19-20, 2021, Wanda sold 15.6 million shares of AMC stock, reducing their holdings from 8.8% of AMC common stock to 6.8% of AMC common stock. Pay attention to those dates
AMC Entertainment- Led by CEO Adam Aron, AMC has staved off bankruptcy during the COVID-19 pandemic. They have raised a total of 752 million dollars from direct offerings in 2021. That is in addition to the funds raised in december 2020. This influx of capital has put AMC into a position that they can maintain operation at current levels until the end of 2022, per their Q1 2021 earnings call. The first dilution of 2021 put an additional 63.3 million shares on the market. That was completed on January 27, 2021. The second dilution was the ATM offering program that completed the sale of 43 million shares from April 27 to May 12. Remember these dates too.
Securities and Exchange Commission- As the lead regulating agency for the stock market, the SEC is supposed to legislate, investigate, and prosecute any entity committing securities fraud. We vilify them, and rightfully so. They have taken a sideline seat and watched as we battled back from our own 1 yard line to be 1st and goal today. Their only interest in all of this is to mitigate the effect on our economy as a whole and to prosecute the offending parties. In order to do that they need evidence. Not just evidence of when and what (dates, naked shorting amount, illegal FTD resets, etc), but also the WHO. We all have our sights on Citadel, but they are not the only complicit player here. This is systemic and market-wide. AMC and GME are not the only securities affected by this, but that are the most public. They are also the ones that can provide information that the SEC desperately needs.
The Game:
Remember when I said to pay attention to the dates before? Well, lets dig into those.
January 27- This was D-day for the HFs. We had them cornered, a squeeze was imminent. Share price rocketed to over $20 a share, trading halts comprised most of the market hours, brokers weren't allowing people to buy, and Apes were throwing shit all over the walls with excitement. Marge was dialing. During all of this, at the peak of all peaks, with us getting ready to get out of the atmosphere, AMC announced the 63 million share dilution. The following day, AMC plummeted to the 10-14 range, and started its descent back down to $5 a share. Why would they do this now? It doesn't make sense until you read below.
March 18-20- On March 18th, AMC is on the rise. We are about to break a critical resistance level at $14.50. Intraday, we break that wall. We are all watching patiently to get our tendies out of the fryer. It feels like January 27th all over again. Then, March 19th comes and instead of going up, share price drops. Not as heavily as on the 27th, but it doesnt continue the upward trend. All of a sudden shares available to borrow goes from 0 to millions. Apes are confused. It doesn't make sense. We broke the wall. it's time to move. Maybe it's just the last breath of the HFs before they let it run and Marge calls. March 20th rolls around, and again, the share price drops. This time, we crash below the $12.50 support level. In the following days, we come back down to the 10-11 dollar range, where we sat until the end of April. We later found out through 13F filings that Wanda sold 15 million shares, stalling our ascent and bringing us back down to earth. Why would a company who stands to gain billions from a squeeze do this? It doesn't make sense until you read below.
End of April 2021- Once again, we are on the rise. Not quite to the $14.50 break point, but we are in a streak of green days, shares available to borrow are almost gone, and cost to borrow is skyrocketing when they are available. It feels like January and March again. We're getting ready to break 12.50 and gap up to the 14s again. Then, AMC announces its ATM offering program. Once again, from the 27th of april through the end of May, we drop back to the 10-11 dollar range. We found out at the Q1 earnings that during this period of descent, AMC had sold over 15 million shares onto the market, raising a significant amount of capital. Once again, we plummet back to earth. Why would a company sacrifice billions in profits off of the ATM offering to sell all of it's remaining sellable shares at 9.50-10.50 a share? It doesn't make sense until you read below.
Where are we at today- Once again, we are getting ready to break the resistance levels, and shares available to borrow are somehow appearing out of nowhere. Borrow rates have dropped 75 percent in a week, and every time we push that level of resistance, we get pulled back down. Does this sound familiar? I think Wanda is unloading another block of shares. This is horribly bad for us right? Can't be good? Wrong. This was always the plan, it was always the game. They're adding shorty rocket fuel. FOMO is kicking in. Retail is seeing a huge increase in liquidity as new buyers join in for liftoff. It is the perfect time to drop shares if you are intentionally delaying the squeeze. Those shares are gone almost immediately. Literally, if they sell at open, even the full 30 million would get eaten up in the first hour of trading. In order to figure out why they would delay the squeeze, we need to look at the playbook.
The Playbook:
AMC and Wanda's goal throughout these last 5 months has been to build a case for the mother of all legal claims against the entities short selling the stock with synthetic shares. Each time we reach a breaking point for the good, they are keeping the SP down as they gather the information they need to file a lawsuit. I graduated with a political science degree, with the aim of going to law school, so I have a decent amount of knowledge when it comes to legal proceedings. Having said that, this is what you need to prove damages in a civil lawsuit.
1.) Who- Who was the offending party that caused the damage?
2.) When- During what period or at what time did they cause you the damage?
3.) How- What did they do that caused you to incur damages?
4.) Damages incurred- You need to be able to define the amount of loss incurred due to the actions of the offending party. In this case, its a pecuniary damage (money lost).
The plays:
1.) Share count- In order to identify the who and the how, AMC needs to be able to prove which entities wronged them, and the amount of damage EACH of them caused. IE, how many shares did they short using malpractice? (naked shorting, FTD resets, etc) The share count does this for them. In order to disseminate voting materials, they need to know the information of who owns the shares of stock, how many they own, and have the contact information to send out voting materials. This gives them the who and the factor to multiply damages incurred per share against.
2.) Delay annual meeting- I firmly believe AMC delayed the meeting because of the sheer amount of shares they counted. The last thing a company wants to do is go into a critical vote with an inflated number of shares. In order to get anything on the ballot to pass, they need a majority of shareholders to approve. If the amount of shares and votes is inflated, they could potentially see all of their ballot items fail to pass.
3.) Involve the SEC- When they knew the who and amount of shares, I believe AMC got the SEC involved. They were able to provide concrete evidence to the SEC of the fraud that was ongoing since December. The SEC needed that information to file legal proceedings. Keep in mind, they need the same things AMC does, minus the damages incurred, to bring a case against the malpracticing firms. At this point, the SEC can actively watch the actions of the offending parties in real time. Building a case until the next share count. In addition, this gives AMC the ability to follow with a civil lawsuit using the SECs findings as the How of their claim. Here's the bonus, the SEC will be able to show AMC the how during the time of the 43 million dilution. These illegal activities were going on during a share dilution, directly affecting the share price AMC should have gotten for their shares sold.
4.) 2nd share recount- I think the SEC advised AMC to conduct another recount for a few reasons. 1.) the illegal activity ramped up from Janurary to April, and the actual share count would have undoubtedly increased in this period, and 2.) It allows the SEC to track another data point while getting ready for the market implosion this could cause. It also delays a notification to the public of just how broken the system is. Now, when AMC announces the share count, the SEC can announce the legal proceedings it will pursue, naming the defendants.
5.) Timing of dilutions- If AMC diluted during or after the squeeze, they wouldn't be able to correctly identify damages incurred and when they occurred. By having Wanda and AMC dilute when share price was not inflated, it gives a concrete timeframe of when they were damaged, as well as a count of shares that form the basis of the damage claim (15 million for Wanda, and 103 million for AMC).
4th and Goal (how it ends):
On June 2nd, AMC has to finish their share count so they can disseminate materials. Adam Aron has already stated he will make the share count public. When he announces the total shares counted, it will clearly show the blatant manipulation and illegal activities. Retail will FOMO, institutions will FOMO, and large private investors will FOMO. If you want confirmation that this was the end play, look for an announcement of a share recall, a formal investigation, or both with the announcement.
When they recall the shares, the MMs will need to get real shares, and only real shares, back from the HF before the date specified. This will ignite the margin calls and form the catalyst from the squeeze. The squeeze will be squoze, in theory. (Again, no dates, shhhh)
When the squeeze is over, AMC can now identify just how much they were damaged. They now have the who and when (share recount), the how (SEC investigation), and the damages incurred (delta between share price at market offering and top of the squeeze). A civil lawsuit will follow.
At any point after June 2nd, the SEC can announce the legal proceedings it will have and identify the offending parties. Here is the beauty, they can file for an immediate injunction to take control over the offending parties assets. In fact, this is common in legal proceedings involving malpractice. You have evidence the offending party is committing illegal acts, so you stop them from continuing them during legal proceedings.
Confirmation bias time: Why would Wanda and AMC sell shares pre-squeeze? Remember I said you would find out below? Well buckle up. Imagine the shares you have now, and knowing that you could get the maximum gains possible (the top of the top peak), for your shares. That is the position AMC and Wanda have put themselves into. it is honestly genius if you really think about it. They don't have to time the sales. Just watch it go, and when the dust settles, they can name their price from HISTORICAL FACT. I think we would all take this option. AMC and Wanda stand to make billions from this from the way they have played this game.
Thank you if you made it this far. This was a labor of love and took some time. If you disagree with the above, any of it, let me know. This is just a THEORY. It makes sense though, doesn't it?!
Beebs

The Securities and Exchange Commission has charged BTIG, a New York-based institutional trading and investment banking firm, with repeated violations of the agency’s short-selling rules.


According to the SEC’s complaint, from December 2016 through July 2017, BTIG marked more than 90 sale orders from a hedge fund customer as “long” and “short exempt” when the orders should have been marked as “short.” According to the complaint, as a registered broker-dealer, BTIG had independent gatekeeper responsibilities to ensure that the trades it executed were correctly marked.

The SEC alleges that BTIG ignored facts indicating that the hedge fund’s representations that it owned the securities it was selling and that it would deliver them by the settlement date were false. Despite many red flags, the SEC said that BTIG allegedly continued to mark the hedge fund’s orders as “long” and “short exempt” without making an effort to determine whether those markings were correct.

In addition, the SEC alleges that because BTIG failed to borrow or locate the shares before doing the transactions, which were in reality short sales, the firm violated another short-selling rule.

The agency is seeking injunctive relief, disgorgement of ill-gotten gains with prejudgment interest and undisclosed civil penalties.

SEC charges BTIG with short-selling violations - InvestmentNews

The SEC charged BTIG, a New York-based institutional trading and investment banking firm, with repeated violations of its short-selling rules.

www.investmentnews.com

 

[Gimmick Account]

View attachment 2190936

SEC charges BTIG with short-selling violations - InvestmentNews

The SEC charged BTIG, a New York-based institutional trading and investment banking firm, with repeated violations of its short-selling rules.

www.investmentnews.com

For context this isn't directly relevant but there's been a LOT of similar news over the past couple of weeks (spared the thread because it would have been pages of autistic stock market shit) which suggest the walls are closing in on guys on the wrong side of this. Including a whole series of new rulings, half of em already approved so far, that will take away some of the bullshit tactics in use and speed up the implementation of yet more rules as well as streamlining the liquidation of whoever's about to eat shit.

Elon Musk as usual is being blamed for crypto crashing but there's a perception this is a last-ditch liquidation by hedge funds following Robinhood doing yet more extremely dodgy shit to pump doge then having "server issues" so nobody could sell at the peak. Again. Not that dogecoin isn't bullshit but people wanted to ride an obvious pump-and-dump too, so fuck them. They've been doing more highly suss shit as users flood out but I don't really care about any of this beyond hoping the SEC implements a firing squad.

Anyway GameStop who previously didn't seem like they wanted the poo on them have been getting increasingly memey on their storefont and socials.
They have an internal reason for not wanting anything to happen before mid next month though (but then might: for one example there's been a huge drive for shareholders to vote leading up to the coming meeting and it'll be interesting if they disclose massive over-ownership count as a result; that's concrete damage) so check back then for potential fun stuff.

 

[Hippopatumus]

The SEC isn't going to do a god damn thing that isn't in the direct interests of the oligarchs.

Through the Gamestop fiasco, the time was to act then, and they didn't. It's like the fire department showing up to a house fire and standing around.

 

[Blake Chortles]

The SEC comes in, fines a bunch of people to get its pound of flesh and dips out. The funds don't feel it because its just a drop in the bucket.

SEC only starts indictments on these guys if they crash the market or cause a bunch of other rich people to lose money with the shenanigans.

 

[Gimmick Account]

Yeah no kidding, anyone holding their breath is dead now.

I'm pretty sure this year they've announced the most whistleblower payouts ever (not checking but it was the 2nd biggest year a few weeks ago and there's been almost as much since iirc), but they don't work fast so that's likely them catching up on previous years. But the pressure's on so maybe it's a race; they're gonna look like real shitheads if current events get out of control again. All the regulatory (*not actually regulatory) stuff that's been happening is the DTCC fixing their rules, who are sort of like the backend system being exploited to pull much of this bullshit, and in a way they have the real power. But the SEC needs to rubber stamp em and they have been.

 

[ditto]

Robinhood doing yet more extremely dodgy shit to pump doge then having "server issues" so nobody could sell at the peak.

Every damn crypto exchange pulls this exact same shit and it's infuriating.

The SEC isn't going to do a god damn thing that isn't in the direct interests of the oligarchs.

Biden's SEC has been (un)surprising tame so far.

 

[Gimmick Account]

Oh shit

GameStop NFT

Power to the players

nft.gamestop.com

Gamestop (GME) Token Tracker | Etherscan

Gamestop (GME) Token Tracker on Etherscan shows the price of the Token $0.00, total supply 0, number of holders 1 and updated information of the token. The token tracker page also shows the analytics and historical data.

etherscan.io

Gamestop | 0x13374200c29C757FDCc72F15Da98fb94f286d71e

The Contract Address 0x13374200c29C757FDCc72F15Da98fb94f286d71e page allows users to view the source code, transactions, balances, and analytics for the contract address. Users can also interact and make transactions to the contract directly on Etherscan.

etherscan.io

 

[Cheetahman]

Whether you think NFTs are bullshit or not, they made GME jump 40% again, which is only kind of unreasonable.

 

[Gimmick Account]

Whether you think NFTs are bullshit or not, they made GME jump 40% again, which is only kind of unreasonable.

Ya even if they have been kinda bullshit this could be the first serious use case. We don't know what they're planning yet but there's a few possibilities I've seen mentioned:

• Resales. By using NFTs for game licenses, (optional) digital resales where the dev gets a cut on transactions downstream become possible. It makes sense for their brand and would be a huge deal since the question of how they could possibly compete with Steam in their digital transformation has been major (so far they've been focusing on improvements to physical delivery). The deal they have with Microsoft might be relevant too.
• A fully crypto-based platform. Wouldn't immediately change anything for customers, sorta like how Steam purchases pass through your Steam wallet. But there's a lot they could build on that.
• A special dividend. NFTs can represent a share class, and doing a split this way has been tried before to force a squeeze. Normally even when there's synthetic shares in play, someone just has to pay out extra dividends and nobody's the wiser. But in principle that's impossible with something that you can't pull out of thin air.

First two are more exciting long-term but the last one would be a dramarama. I don't think it worked out exactly like Overstock wanted when they did it last time, but maybe it could be pulled off better. Based on the "power to the creators/power to the collectors" message it's likely the first but I guess we'll find out in a couple weeks.

 

[CivilianOfTheFandomWars]

Seems that Reddit wants to moon CLOV for some reason, FYI.
It got to the top drop down thing, so who knows what the hive mind will do.
It’s hovering around $10 now.

 

[Nauseated Courgi]

Seems that Reddit wants to moon CLOV for some reason, FYI.
It got to the top drop down thing, so who knows what the hive mind will do.
It’s hovering around $10 now.

What the hell. Why not?

 

[Gimmick Account]

There's constant pump targets and "next GME"s. It's probably high on the short interest list. I wouldn't take any particular one too seriously as far as what the hive mind really wants because Reddit is full of forced bullshit and fads that last a day, but that doesn't mean there's nothing to it (AMC was one). I don't have the energy personally.

 

[Nauseated Courgi]

There's constant pump targets and "next GME"s. It's probably high on the short interest list. I wouldn't take any particular one too seriously as far as what the hive mind really wants because Reddit is full of forced bullshit and fads that last a day, but that doesn't mean there's nothing to it (AMC was one). I don't have the energy personally.

Looks like CLOV just rose up to 16 dollars.