Question on GME DRS via /r/wallstreetbets #stocks #wallstreetbets #investing

Question on GME DRS

So GME has 71 million DRS shares and 230 million shares that are not DRS.

We are 2 years in and 20% are direct registered. Is the plan to DRS the remainder over the next 8 years?

Regarding the numbers. Revenue down means a business is shrinking; not only that GME went into this quarter with almost double the normal level of inventory, so sales should have crushed the prior year's numbers. Expenses down to me means employees are simply leaving. The stock compensation plan to me seems to be a way of conserving cash. I doubt employees really car about stock; I know they'd rather have cash. Most importantly, GME shows no sign of becoming profitable.

The plan to turn around the company is based on NFTs for gaming. I don't see how games are going to be introduced on this platform versus competitors with far more resources. Its a pipe dream

Sure the company has cash of $900 million, but it is valued at $7.3 billion. Where does someone come to the conclusion that the balance of the company is worth $6.4 billion?

I expected this quarters numbers to suck as they did, and expected expenses to be light just from reading about how unhappy the store level staff is but I'm honestly amazed people somehow are bullish? This plan is also based on a coordinated team squeeze seems like a delusional pipe dream to me. Of all the stocks in the world to focus on, I just don't get the obsession with this company.

I expect all sorts of shitty comments. Go for it.

PS. I think Ryan Cohen is a complete douche

Submitted September 08, 2022 at 05:41AM by tonymillergmail
via reddit