Ryan Cohen has broken his month-long silence, beginning before the insane price volatility sparked by RC Ventures being awarded three seats on the board. 

At 1:57 PM on February 24th, 2021, Cohen tweets an image of a well-lit McDonalds Ice Cream Cone, accompanied by a frog emoji.

Reverse image searching reveals that the photo was taken by Irene Jiang of Business Insider, so unfortunately, Ryan was not enjoying the cone himself. This also reveals that the tweet is not an update on Cohen’s life, but yet another cryptic message.

Yesterday, GameStop’s CFO resigned amid insider complaints and incompatibility with the transformation.

The photo is from a Business Insider article titled ‘McBroken,’ about a 24-year-old engineer created a website that tells you if your McDonald’s has a working ice-cream machine. 

What does it mean? The $GME community has some theories:

  • The ice cream cone is the cheapest item on the McDonald’s menu. Cohen is saying that GameStop is the cheapest stock on the market.
  • The frog emoji is “not a cat,” a reference to Roaring Kitty’s hearing statement.
  • Frogs symbolize alertness and readiness, as they always respond to nature’s timing. As frogs croak before the rains, they are considered bringers of rain, cleansing, and fertility. The visible changes over the course of their life (from tadpole to frog) make them symbolic of change, adaptability, and rebirth. snaketracks.com
  • The ice cream machine represents  GameStop, which is often “broken,” is Cohen the fix?
  • According to Volition Capital, investors in Chewy, Ryan Cohen is no stranger to McDonald’s soft serve.
  • The resignation of Jim Bell fixed the machine.
  •  McDonald’s slogan is “I’m Lovin’ It,” is Cohen lovin’ the attention on him from Cramer? The CFO resignation?
  • We are waiting for the cherry on top.

No matter what, we can all agree on something within the next few days…

We are in for a treat.

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Looks like Ryan Cohen is trimming his Twitter following again. The Chewy founder has unfollowed Electronic Arts, Call of Duty, and EASPORTS, who  he had added to the list on February 5th. Ryan Cohen has retained the followings of Steam, Xbox, and PlayStation, the largest gaming platforms today.

Alongside this, Cohen remains following Elon Musk, PCGamer, Geekwire, and GameStop.

We’ll be sure to post an update when Ryan Cohen fills these open seats on his following with some new profiles.

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The management overhaul by RC Ventures continues, as GameStop announces the resignation of Chief Financial Officer Jim Bell.

GameStop Corp. (NYSE: GME),  today announced that Jim Bell, Executive Vice President and Chief Financial Officer, will be resigning from his roles on March 26, 2021. 

The Company has initiated a search for a permanent Chief Financial Officer with the capabilities and qualifications to help accelerate GameStop’s transformation.

Upon further research, Jim Bell’s page on the GameStop Corp. website states that 

Prior to joining GameStop, Jim served as CFO and interim CEO of Wok Holdings, Inc., the parent company of P.F. Chang’s, Pei Wei and True Food Kitchen restaurants.

Safe to say he isn’t exactly what GameStop is looking for as they move forward towards a digital-first  business model.

 Read the full news release here

Evan Smith, VP of Marketing at GameStop, shared a job listing on LinkedIn looking to recruit for a Manager of Email and SMS Marketing position. Nothing too out of the ordinary, but his caption is intriguing.

Hello! Starting a hiring frenzy in 2021. This one is currently recruiting and more to come. Contact me directly with any questions.

Upon visiting the ad, the “About Us” for GameStop Corp. states that the company is a digital-first omni-channel retailer. This is a strong shift from simply stating “omni-channel,” which was the norm in the past.

Visit careers.gamestop.com to view the rest of the job listings

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Forbes has published an article titled, GameStop’s New Outlook, and while it does not go nearly as in-depth into the RC Ventures takeover as we do, any constructive fundamental talk about GameStop is always appreciated.

GameStop’s fundamental expectations are improved. The key ingredient is the enhanced focus on a growth strategy, spurred by the new, committed board members and fostered by new management additions capable of improving on a known brand name. 

Isn’t it crazy that it’s news when the media finds out what we’ve been covering for months? At least they’re beginning to get it.

The article also covers some different views of GameStop’s stock action, starting with a monthly chart from 2007 (logarithmic scale) and a daily chart from July 2020 (logarithmic scale).

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If the first “Game Stopped?” U.S. House Committee on Financial Services hearing wasn’t enough political theatre for you then you’re in luck, as Rep. Maxine Waters states there will be two more at some point in the future. Looking at the February hearing schedule reveals they are not planned for this month, however, so we’ll just have to stay put.

The second hearing will include: “Experts on all sides of the issue.” Who could this be? Are they going to bring in experts on short interest? Does “all sides of the issue,” indicate individuals from GameStop? Ryan Cohen? Who knows.

The third hearing is what worries us: “SEC & regulatory response/solutions.” History tells us that the little guy is going to be the one bearing the burden of new regulations, in the guise of, “safer trading for all.”

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Roaring Kitty’s statements in the House Committee on Financial Services Hearing were honest, personable, and full of inside jokes.

I like the stock.

Most notable, when asked by Rep. Bill Huizenga whether he would still buy shares at the current price of roughly $45, Gill states that he still sees shares as an attractive investment.

Investing can be risky, and my particular approach to investing is rather aggressive and may not be suitable for anyone else. For me personally? Yes. 

Putting his money where his mouth is, Roaring Kitty’s Feb 19 2021 GME YOLO update reveals he has purchased 50,000 additional shares, effectively doubling his prior position of just 50,000 shares.

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On Thursday, February 18, 2021, from 12:00 p.m. (ET) full Committee Chairwoman Waters and Ranking Member McHenry will host a virtual hearing entitled, “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide.” 

 

Founder and Chairman of Interactive Brokers Thomas Peterffy joins ‘Closing Bell’ on CNBC to discuss what would have happened to GameStop’s share price had brokerages not stepped in.

We have come dangerously close to the collapse of the entire system and the public seems to be completely unaware of that including Congress and the regulators.

On January 26th GME closed at $77/share, the following day it closed at $148, the following morning on January 28th the stock opened at $355 and traded up to $480.

At the same time, GME had 50M shares outstanding, and the short interest of 70M shares. In addition, there were about 1.5M calls, which would call for 150M shares.

When the longs repay their margin loans, and exercise the calls, their brokers would have been obligated by the rules as they are today to deliver to them 270M shares while only 50M shares existed.

When the shorts cannot deliver the shares, the broker representing the longs, must, by the rules of the system, go into the market and buy the shares at any price, pushing the price into the thousands.

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