GME Earnings Call
Having actually listened to the entirety of the earnings call, it seems that, despite the downwards pressure, GME might actually be preparing itself rather well for the short squeeze. That said, I hope you autists were in fact in with shares, and not calls: otherwise, u r fuk.
But back to the point: there was one very interesting pair of questions posed during the call: the first related to why GME would be planning to sell more shares ($100million’s worth). The answer was given with remarkable force compared to most of the others, and was also quite clearer: it was emphasized that GME did NOT NEED THE MONEY: it was simply an option being considered for the sole possible purpose of “increasing liquidity.” The reason they gave was in case the beer flu hit them hard again. With the vaccine coming, this seems like horse shit. To translate their likely intention for gay bears: if in fact there is a short squeeze, they would be primed to capitalize off of it by selling off some shares at a crazy good price. In addition, when asked if they would be buying back more shares in general, they said “it would not be off the table”: and I’m pretty certain that other $100 million left for share buybacks by the end of this fiscal year hasn’t been used yet. I think they’ve definitely got their heads out of the sand, and I look forward to their continued success. Continued success, you ask? Yes. Their fourth quarter, if what they said is true, might be the first profitable quarter they’ve had in years. Good luck, everyone.
Disclaimer: Not financial advice for anyone except my parents, who are the only people in my family holding GME positions at the moment. I’d hope to get in at a coming low point, maybe tomorrow.
Submitted December 09, 2020 at 02:30AM by UnUnimportant-
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