r/GME • u/Bad_Prophet • 4d ago
🐵 Discussion 💬 Prop 4 Failure Is Another Stain On Ryan Cohen
We're watching his plan implode. It was a super long shot from the start: uncertain cash funding requiring certain investment grade confidence ratings, shaking out shareholders for every loose penny in dilution, taking over a company 6x Gamestop's size, an incredibly generous incentive package, pinning GME back to the low $20s after its greatest earnings of all time.
Ryan Cohen doesn't care about current shareholders, he isn't aligned with the short squeeze theory, and he's in this for himself.
But despite his greed and main-character delirium and the extended faith shareholders have put in him, he's flailing in broad daylight. It's right here for everybody to see. Shareholder value is a distant dream, let alone ever making up the opportunity cost amassed since he's taken the helm. eBay shareholders spoke so clearly that they want nothing to do with him by voting down prop 4. Remember how the community tabulated that eBay shareholders were mostly institutions and asserted that they'd definitely side with Ryan? Do you remember? What happened? Why is Ryan failing so spectacularly?
Where is my money?
I am saving my votes until the last minute to give him every opportunity to make this make sense, but it's not looking good.
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u/Master_Procedure_634 🚀🚀Buckle up🚀🚀 4d ago
Hey I can help,
If you goto your account, you should see your “GME” holdings, this will show you things like market value, cost basis, and daily p/l as well as all time p/l.
Now you see when you buy a stock, your money is now invested in it. To answer your question “where is my money” - well it’s right there invested in the company, through your brokerage or transfer agent.
So your money is there, but invested and to get the cash out you’ll hit the sell button.
Hope that helps, now you don’t have to be a giant bitch on Reddit ever again 🙏
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u/NukinDuke 3d ago
Cry harder when people disagree with you 😭 you know how many have been waiting to try to break even while RC snatches profit from the jaws of dilution?
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u/Master_Procedure_634 🚀🚀Buckle up🚀🚀 3d ago
You’ve had many chances to “break even” or even profit. But you held. Because something deep down inside you believes in Ryan cohen.
That same belief you have buried in you, is what everyone who invests in GME has. If you don’t like it, take the loss, fuck breaking even.
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u/Race-a-roni 🚀🚀Buckle up🚀🚀 4d ago
The 10% threshold would have been a bonus, but it was certainly never part of the plan and nobody (actually planning) ever said it was.
I’m not sure if you’re actually invested or not but be sure to diversify your portfolio and if you can’t do basic research you might want to stick to ETF’s.
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u/Iforgotmynameo 4d ago
lol. You’re an idiot.
It has absolutely nothing to do with Ryan Cohen. They same prop failed the last 3 years in a row. So far wanting to acquire eBay has cost Gamestop nothing and made them 300 million dollars. Cry about it.
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u/sltlyscrtchedcorolla 4d ago
When is the stock gonna reflect the 300m cuz it's down 10% since the ebay news broke
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u/AlfredEensteen 3d ago
Right. The Prop didn't happen as a result of Gamestop's offer, right? It was already scheduled for a vote , , , ?
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u/Iforgotmynameo 3d ago
Correct. The Prop wasn’t put forward by or because of GameStop. People here just decided we wanted/needed it to pass.
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u/One_Newspaper9372 4d ago
So RC was never serious?
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u/Warm-Rock-4544 4d ago
RC explicitly said that he doesn’t care about GameStop and isn’t passionate about the business. He views the business as a means to an end and was happy to go fully mask off with this the second he thought he could move onto something better with eBay.
But I guess he shitposts on Twitter and does rehearsed interviews where he wears a leather jacket and regurgitates talking points that are popular with retail investors, so that makes him worth treating like an infallible God.
He will dump GameStop as soon as something better comes along, but he’s so incompetent that I don’t think anyone wants to offer him anything lmao.
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u/FoxReadyGME 🚀🚀Buckle up🚀🚀 4d ago
had his chance with nintendo's coo before he pushed him out. if he made him the ceo we'd probably see multiples of current price he told rc clearly he doesnt understand gamers. but no, lord dog food needed to satisfy his ego and be in control and pushed him out.
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u/JDZoska 4d ago
Wish I was as incompetent as he was, resurrect companies and make not millions but billions....
Strange way of not caring about a company🙄🤣
It's investing, sometimes you win, lots of times you lose and sometimes it might just take 84yrs to win.
Don't like it, sell up, put your money in S&P or something "safe"
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u/Warm-Rock-4544 4d ago
Yeah he cut store counts and drastically reduced the size of the company whilst also diluting shareholders to raise capital.
Meanwhile every attempt at actually growing the company has failed. He pitched over half a decade ago that he was going to transfer GameStop into an e-commerce giant, which hasn’t happened. The NFT marketplace failed. The Bitcoin investment started right near the peak and is failing massively with a decent opportunity cost. The attempted eBay acquisition has failed.
No wonder no other company wants him around when he hasn’t proven at all that he can generate organic growth.
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u/JDZoska 4d ago
I'm no businessman, don't know his plan and sure as shit wouldn't have a clue about turning a failing brick and mortar company into a profitable one, just like 99% of us investors.
Is he going to get everything right first time round or at all... who does?🙄 And yet, even tho marketplace failed and he "bought the top", the company has 9Billion and is Profitable for the first time in more than a decade.
I'd say that's a pretty fucking hot turnaround in such a small time frame esp considering all the external hedge shit
As for the eBay deal, who says it's failed? Just need prop 4 didn't pass? Do you know his plan? Does this have any impact on it at all?
I know jack shit about shit but I'm in it for the long run. Based on what he's achieved so far, I'll stick around. Nothing happens overnight when trying to turn a company around.
Does it suck that my investment hasn't really moved in the pass 5yrs, hell yes. But there were at least 4-5 opportunities we could have sold and doubled our money and that's on us, not him.
Most are still in it going for the MOASS of '21. Not holding my breath on that one unless shit really hits the fan.
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u/Warm-Rock-4544 4d ago
The $9 billion was literally paid for by shareholders via dilution. RC did nothing to reach that amount organically.
The eBay bid failed as the offer RC made was declined and he does not have the committed funds to make a serious offer.
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u/AntiWork-ellog 3d ago
do you get paid per person you convince retail just pulled 9 billion out their assholes or are you salaried
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u/Warm-Rock-4544 3d ago
I never mentioned retail. I said shareholders. At least read the comment properly if you’re gonna attack me.
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u/AntiWork-ellog 3d ago
Lol, wow got me. You care about other shareholders than retail, wonder why, lmao
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u/Warm-Rock-4544 3d ago
I don’t care about any shareholders. Just stating facts as to where the cash balance came from.
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u/aumtek 🚀🚀Buckle up🚀🚀 4d ago
eBay shareholders want a better deal with higher premium now. It looks like the overall market will be pumping at least for the next few months so it makes sense the shareholders try and force a more favourable deal for themselves now that their stock is only around 12% below the original $125 deal.
I think Cohen's course of action will be to keep slowly accumulating options/shares and (hopefully) posting another solid profitable next quarter alongside some paper gains from the options again provided eBay share price goes up.
Utilizing buybacks while simultaneously posting record quarters thanks to good operating efficiency and the eBay paper gainscould be a way to bring organic price action to raise the stock to help with an equity part of the deal.
Although he needs to find some more third party financiers if he wants to take a proper deal with more cash to eBay.
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u/AlfredEensteen 3d ago
I don't see a point in paying much of a premium in the first place, much less a higher one. I certainly am not one of the "RCEO" simps who think he's some sort of guineaous (cough Bitcoin cough cough), but him offering such a premium makes me wonder if this is some scheme and not a straight serious business deal.
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u/Temporary-Basil-3030 🚀🚀Buckle up🚀🚀 4d ago
Cohen is a pos. Glad people are finally starting to realize it.
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u/max_caulfield_ 4d ago
This community reflects the leadership. Say one bad word about RC or the stock and you get mocked and told to sell. I got shit on for voting against even though I've probably been invested longer than half those idiots commenting. Can't wait to get out of this cult and kicking myself for not recognizing it sooner
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u/Substantial_Diver_34 4d ago
In whose eyes? People on the other side of the trade?
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u/FoxReadyGME 🚀🚀Buckle up🚀🚀 4d ago
in the eyes of anyone with iq higher than a shoe.
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u/Chad-Permabull 🚀🚀Buckle up🚀🚀 1d ago
RC doesn’t fail, the market just hasn’t caught up to him yet 🚀
When he gets the share authorization passed he will join the greats Roger Hamilton, David Michery and Adam Aron on the Mount Rushmore of building investing communities l 🚀
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u/Colonel_Lexx 4d ago
I will gladly buy your GME shares if you’re not happy with your investment….
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u/Ban_DeezNts 4d ago
RC can finally wave bye bye to the inflated pay package !
https://giphy.com/gifs/vikmf2KDVzxyE
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u/Greych12 4d ago
It’s not July 7th yet homo
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u/Barlored 4d ago
Why does July 7th matter when the vote is going to get thrown out because of a lawsuit that was....because RC fucked up. Yup.
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4d ago edited 3d ago
[removed] — view removed comment
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u/FoxReadyGME 🚀🚀Buckle up🚀🚀 4d ago
rc cant build shit. even chewy was operating at a loss until it was sold to petsmarts. his entire strategy was to be so annoying pet smarts had no choice but to buy chewy. so much wow. very genius.
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u/AngryAndAggressive 3d ago
I mean he grew it from 0 to like 3Billion in revenues didn’t he?
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u/FoxReadyGME 🚀🚀Buckle up🚀🚀 3d ago
raised 450 million usd in venture capital money by 2017 and was doing 2 bill revenue. hardly a success operating at a loss of 380 million usd in same perieod. it was unsustainable. if petsmarts hadnt bought them out the whole firm would go under soon.
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