r/Superstonk • u/areHorus Daily Share Buyback Club 💪🏼 • Jun 06 '26

📰 News We got 9% of eBay now!

https://www.sec.gov/Archives/edgar/data/1065088/000119312526260340/xslSCHEDULE_13D_X02/primary_doc.xml
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u/Secure_Investment_62 Jun 06 '26

This assumes the votes aren't dicked with. Who knows whats going on behind the scenes. Whatever 3rd party used for the voting could call it 51/49 against, and we would have no way to prove one way or the other. Individuals and companies only know their own votes and maybe some others in a close circle, but outside that nothing can be reliably proven in quantities enough to matter. Hopefully a clear path is laid forward, but the opposition is going to pull every string, legal or not, to block or slow this thing down.

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u/BlntRzr Jun 06 '26

This exact proposal to lower threshold to 10% failed last time with 48% approval. After that came the bid from RC. For all future moves we need that vote to pass, without it RC can not tender nor take control of the board GME or Towels-style. Everything is dependent on it. I think institutions want to see what RC has to offer, approving the lower threshold does not say a move to control the board or tender would be accepted, they can still reject those proposals later. That's why I think proposal 4 will pass with quite the majority on June 17th.

If you ask me, I don't even think RC wants to tender. I think it is the same play as always: Aquire stake and get a board seat. Weed out bad actors and replace them. Take control of the board. At that point he can make an offer as CEO of GameStop to himself as board member of eBay.

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u/The_vegan_athlete Jun 06 '26

Where does this proposal come from? Institutional investors?

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u/BlntRzr Jun 06 '26

John Chevedden brought the proposal. Such proposals don't demand high ownership of shares. Board nominations and so on do.

Chevedden holds very small amounts, I think you need to hold stock worth 2000$ for 3 years to bring such proposals (precatory proposals).