GameStop

“Look, do I personally think GameStop is overvalued? Yes, of course. I think it's going to end very badly.”

“In the case of GameStop, I think the cost of borrow got so high that you're basically paying 30, 40, 50, 60%, you know, interest rate to borrow GameStop shares to sell them short because there was so much interest in, in selling short.”

“The best source of data that I have access to is a company called market m a r k i t. They're quite large. But as of this Friday, the short interest was still, I think about 50% in GameStop.”

“Right now you can short sell more stock than the shares that are outstanding, right? So, you know, some of these stocks had a 140% short interest, right? So more, more shares were shorted than actually outstanding.”

“This wasn't, you know, a value judgment or some kind of moral stance and we weren't pressured into doing it by anything other than our regulatory deposit requirements.”

“What I'm most concerned about is the absolute alternative to an institution is a mob rule. And a mob rule, as we've seen, where you get cancel culture and you get you know, GameStop going through the roof and you get trial before before without a jury and tria…”

“He had to borrow 2.75 billion dollars from Citadel and .7 just to get through his month.”

“That's the next cycle of this story. The next cycle of the story is where was the government?”

“Roaring Kitty, aka Keith Gill, Just disclosed a nine-figure position in GameStop.”

“GameStop finished the year, 20, 23 fiscal year, with Sales of 5.3 billion down from 5.9 billion the year before. So sales declined by 12% in the year. Adjusted EBITDA for the year was sixty five million dollars, and they have about 1.2 billion in cash.”

“12 and a half billion divided by sixty-five million of EBITDA means that this stock is currently trading at about a 192 times EBITDA.”

“I'm putting five hundred million of my own money into this transaction.”

“You can bring in a, Graded PSA card eight and above, and we will give you cash on the spot. We buy back the card, and then we either sell it in the store, or we bring it back to our warehouses, and we sell it online.”

“Well, when it came to GameStop, originally it was a passive investment and I owned under five percent and the CEO actually reached out to me because they were fighting an activist and they wanted me to join the board.”

“I went in and I had this bias from Chewy, which is basically like everything that I learned at Chewy, I was going to apply to GameStop. And it took me about, I don't know, maybe Just over a year to realize that was really, really stupid.”

“The original thesis was that there's an upcoming console cycle and that they're probably going to survive until the upcoming console cycle and the new PlayStation and Microsoft Xbox comes out.”