After a two-year cat and mouse chase, the Chairman of GameStop and Manager of RC Ventures has joined Joe Fonicello of GMEdd.com for his first extended interview.
When I invested in GameStop just over two years ago, the mainstream media considered the brick-and-mortar retailer the next Blockbuster, with the company valued for an inevitable bankruptcy. In October 2020, I shared the GameStop thesis in my University’s Stock Pitch competition and was told to “pick a company with strong long-term prospects.”
Myself and a small group of other passionate retail investors believed the retailer was misunderstood and took it upon ourselves to create GMEdd.com—a platform to share the research that Wall Street analysts and media pundits were missing.
Once Ryan Cohen, the founder of Chewy and Manager of RC Ventures, reached an agreement to join the company board in January 2021, we published a research report with a view on how GameStop might evolve under his influence.
Within two weeks, the share price far exceeded even our most bullish case. Since then, GMEdd.com has followed the company’s progress through crowdsourced investigative research.
The investigations
With Cohen at the helm, video game retailer GameStop worked in silence, undergoing a tech-centric transformation with the development of a premium NFT marketplace marking this transition. The company’s newfound commitment was initially exposed when we stumbled upon job postings alluding to blockchain talent at the company in April of 2021, a year before the NFT marketplace would be publicly announced.
Investors began to speculate what GameStop NFT would entail. Curious to find out, we dug deep—on October 22nd 2021 we published clues that Loopring would be GameStop’s partner in a premium NFT Marketplace.
Just five days later GMEdd.com discovered Loopring’s source code, confirming our speculation and revealing Loopring was partnered with the video game retailer on an NFT Marketplace built on Ethereum Layer-2 technology.
The news shook the blockchain community, as the underdog coin became the most talked about cryptocurrency on Reddit. Loopring’s market cap shot from $565M to over $4.27B.
Our contributors tracked GameStop’s every hire, over 420 of them, using LinkedIn data to determine where the company was poaching their talent from.
The team identified that GameStop.com order numbers were sequentially numbered and could form the basis for a highly accurate estimate of performance. The crowdsourcing of order numbers fueled a financial model we freely shared online.
GMEdd.com was also first to note GameStop’s corporate expansion to South Florida, Seattle, and Boston.
the conclusion
It has been a privilege to write for such enthusiastic readers. There was rarely a dull moment over the past two years, as our community was always working to predict GameStop’s next move. GMEdd.com uncovered the power of crowdsourcing research.
After writing over two hundred stories for the platform, it is with great honor to conclude GMEdd.com’s investigations into GameStop by conducting Ryan Cohen’s first extended interview.
I want to thank Rod Alzmann, ‘AlphaHound’, Chris Silvestro, and Jenna Dauzat for their voluntary contributions to GMEdd.com.
Cheers.
Join the discussion on Discord at GMEdd.com/discord and follow @GMEdd on Twitter.
Brian says:
Why conclude gmedd now? Is the research into GME “over”?
Rick thompson says:
Totally impressed
Peter says:
He spoke to the source, found out that it was a Cohencidence that we were drawing info from all those tweets and posts, and now we just wait to be delighted. It’s a good place to wait and see imo. Two years is a lot of work.
What else is there to search? Even the notoriously hard working Ryan is putting time aside to do podcasts with fans now. Sometimes you need to let the seeds of your hard work grow and then reassess. Check back after 6 months and we will see…
bob says:
Well after 2 year of theory crafting maybe its time to accepte that gme is really dying
Jo Blow says:
Because RC and his crew did the pump and dump.
How they do this is they pretend to they are going to go in to a company and “fix” it and stop the shorters(or whatever story they create that is a plausible alibi).
It got way out of hand. How they do it is one side can pump by buying and the other can dump it. By doing this and using various means to communicate these messages they can move the stock up and down to make it look like whatever they want. Since they share the pot at the end of the day whatever they get out of retail is their loot which they split among each other.
RC is part of cabal of lunatics who do this and use AI and other methods along with MSM(remember, hedge funds own them).
How do you think they become billionaires in the first place? Oh, right… He had a billion dollar company… if you say so. Cooking books is the past time of billion dollar companies. Remember Enron? That was just one that pushed it too far and was very unlucky.
Ryan Cohen is a piece of shit. The entire reason there was a big “feud” was to keep retail from selling out and having them lose big time.
Likely Bill Hwang(notice how you don’t hear about him), if he’s even real, was margin called which caused the cascade causing the shit storm. Twitter is used only to distract people with BS codes so that real codes can be sent(I have no idea how they do it but it is clear that the intention is to make it seem like they are using twitter to send coded messages back and forth using memes and such(which they may be the message would likely never be something on the outside one could decipher).
RC has done squat to protect investors in to GS. Sure he has dragged things out and has slowly and surely made it look like he’s doing something(but barely nothing). All the BS about what he was going to do, renting those large distribution centers, etc was just psyops to keep people on the hook. This way their plan would still work. If retail all sold then that just about every investor in GME would have been profitable…. and that would have been billions in *REAL* losses.
If I’m wrong then GME will get to an order of magnitude higher. If I’m right we will see something along the lines of RC selling his shares and exiting claiming “I’ve done my job here and I feel like I’ve taken Gamestop to a place where it is respectable company. I feel like I’m leaving it in great hands and I can now move on to better things”. Basically the same thing he did with Chewy in which someone “paid” him an absurd amount of $$$ and this is when pet co was ruined as other competition(which worked out great for RC).
RC’s true colors will show themself. He will never be held accountable in this world but if he truly is a criminal then he will sow what he reaps. If he’s the savior king then we’ll find out within the next few years. I think after 2 years the odds are against him being the king.
One can claim many things such as all the BS that was injected in to reddit intentionally as a psyop to keep people on the hook. It was a clear brain manipulation scheme that was frightening to see how impossibly difficult it would be for a normal person to determine(not having knowledge of computers, programming, AI, and psychology).
Right now we are just in the burn stage. Anyone holding on and has made a profit is probably either underwater or close(specially if they averaged up like all the AI bot posts pushing people to do that). This is what Gensler means by the use of AI. I believe that it is likely they were trying to do training on AI with their schemes incorporating reddit in to it(which is controlled by the same people as the CEO is clearly an imbecile that is playing a part).
The entire system is a scam. If RC is fighting that then why is he so happy he has lost? If he’s won and is for retail then why hasn’t retail won too as they were on his side. Your only out is “it hasn’t happened yet because they won’t let it”…. yeah, I heard that for 2 years. I’ve also heard “you are a sore loser” and “you only lose when you sell”. Very nice brainwashing terms constantly used.
RC said “Judge me by my actions”…. ok. The only thing that makes sense is if he wants you to join his pump and dump team. As you are riding along his rollercoaster and telling all your new found investing buddies to “buy and hodl” and “too the moon”(something clearly crypto scammers created).
Yes, maybe GME will go to 100M a share…. maybe FTX will have extract most of your gains by then. But RC is going to check out and claim do gooer. Mark my words.
All I can say is let it be a lesson to you all who lost. For those that made $$$, keep it up. The sooner the world collapses the sooner you pay the price. Judge me by my words… and those that argue against mine with theirs.
Joe Blow says:
Cause RC stole all the loot, game over. He one, you lost. The scam was quite amazing. DFV played his part par excellence. Zelensky and Netanyaho has nothing on DFV.
Denise Glavaris says:
This interview host was outstanding! His questions were clear for layman to understand and quite diverse. He got the guest to talk a lot.
Anonymous says:
This is what I needed to start this week. Great interview!
Anonymous says:
So is it time to finally admit that GME is dead? Even the bear case for 2022 is woefully off – the stock is trading at 25 ($100 split-adjusted), the nft marketplace is a failure, and all tweet theories have been debunked. Since this site is wrapping up, can we admit that GME has failed?
Tyler says:
Better go look how many MILLIONS have been made in fees, last I checked it was near $50 million. If you haven’t noticed the whole market and everyone are doing layoffs, Amazon, Apple, every company youncan think of, thats what raising rates like crazy does its stops spending. All you trolls said this from long ago, things you don’t understand and it’s a MAJOR technology change happening and for the better! Free internet, super computers, a fair and honest stock market and criminals getting arrested for being greedy! Go look on the SEC wensite on all the FTDs that have piled up on ALL the retail owned stocks! You can’t bankrupt a company on illegal shorting and crime! Not when youre caught!! Enjoy prison!
Anon says:
Just wanted to say, neat
Moriah says:
All by the Book
Jo Blow says:
The video is to cover his ass from his part of the scam. GS still has not protected retail investors and still has done nothing to make the stock worth while? Why? Why would they sit on their hands(the NFT marketplace is shit) for 2 years and so nothing of relevance? A good reason is that Cohen is part of the scam and playing good cop and leading retail on. How many retail has sold off too cut and run? Everyone still on the train has lost significant. 17$ from 30$ months ago and GS still has done shit. Superstonk is clearly a psyop.
Either Cohen is part of the scam, got caught in it(maybe it was Scam Bankrun-Fraud pumping it), or doesn’t give a shit about retail.
Sure, it’s possible, he wants GME to tank so he can buy more(notice he’s not bought any) but it is very likely he will just pull a BBBY on GME and all the retail still waiting will be fucked in the ass wondering why it’s bleeding so bad.
RC said judge them by their actions… so far they have ignored the massive fraud by the DTCC with the stock dividend(that is, if there really is a huge short position then it should have forced shorts to cover), did the stock dividend a year later than it should have been done(why wait if you aren’t going to do anything)?
RC is trying to whitewash his involvement. He probably got paid 200M to do the scam(that was from the BBBY which when he sold the stock pumped… amazing, right?). Who’s going to believe RC is part of the scam though? After 5 years and GME is sitting at 7$ who how many retail will still be waiting? RC then will sell his GME for a profit due to “Irreconcilable differences” or some BS.
SS will still probably be a shithole of psyop bullshit claiming RC did it so he could tank the price further so he could buy back in cheaper or some BS. RC has not protected retail or institutional investors one bit. NOT ONE BIT! Sure, it all could be a charade to tank the price to enable a buy back… you know, where GS forces you to sell at 7$ a share and you have to take it.
RC is a crook at this point until proven otherwise. He’s probably buddies with Jim Crimer and it was all staged to do the good cop bad cop to keep people from selling for massive profits. Notice the “lock the float” BS keeps getting pushed back. In a year it will take until 2026.
Even though the entire float should be locked up already since the float was already locked before the squeeze(100% of the stock is out in the accounts and unless it was a pump and dump that same 100% should still have been locked after the 27th… yet lots of people bought in.
If RC is about protected retail why doesn’t he do anything of significance instead of leading on? He has a dark sense of humor… you know, the kind where he gets off on stealing from morons because it’s fun and they deserve it.
I seriously hope I’m wrong… but at this point I’m 99% sure RC is a crook and all this was worked out with him and others to fleece retail. The 1% is that he and his gang already locked the float and have to wait due to all the fraud. Even in this case one would expect GS to actually be doing something to make their stock more valuable. 2 years and basically a moronic marketplace that hasn’t even been started to be used as a productive means.
RC seems pretty comfortable here. People just need to realize that in 5 or 10 years the truth about RC will come out and he either is a massive financial terrorists and GME was all a scam to fleece retail or GME will squeeze and he will be vindicated. There is no in between.
mr lul says:
What happened ? You paperhanded and lost money due to your emotions and your now salty ?
Jo Blow says:
Yeah, GME has been going down you moron so if I paperhanded that would mean I actually have saved money but in your retarded insane criminal world cutting losses and being right is being salty.
The good news is that your insane world will end eventually. Ryan Cohen has done squat to protect GME investors. SQUAT! The proof is 2 years of nothing but a failed marketplace. Now sure, Ryan Cohen has made a killing and the government too. But RC has said judge him by his actions. His actions is that he’s a part of the big con.
10 years later you will be saying the same thing. Your pathetic mind is is that of a gnat. Fool me once…
Fuck Off says:
Ryan Cohen the financial terrorist. He’s done squat to protect retail investors. Everything he does ultimately is to enrich himself. Funny how we have seen a continual wind down of all the activity around this except for a few pumps and very slow dumps. Every action he does is calculated to make him look like he’s doing something but to actually do nothing. *Actions speak louder than words*… WHEN. He’s a fraud, a liar, a financial terrorist.
PROVE ME WRONG!
Never trust a billionaire. They didn’t get rich by hard work, they got rich by stealing from morons. In 5 years will you still think he’s gonna stick it to retail?
He’s been leading retail on. He knows that over time more and more will sell out, some for a loss. He’s got his $$$ either way. Any real results? Any actual substantial results after nearly 3 years? CEO fired. Either that is incompetence on his part or intentional… nice timing BTW. BBBY? What was that all about? More theft. It’s clear RC is part of a criminal ring of psychopaths. PROVE ME WRONG!
ACTIONS SPEAK LOUDER THAN WORDS! Yet we get neither. Oh sure you will claim his protecting retail. He’s done squat to do so. Either he’s a genius or he’s a criminal or he’s a moron. Do geniuses go about building a business this way? Anyone else ruining a company like he has would have failed by now. Sure GS has 1B dollars, I wonder how much they are burning through it with zero results.
How long will you give RC to do his thing? 100 years? 1M years? When does one say “Well, he fucked us and was a good con man that used reddit and bots to pump and dump a stock. Sure he was a genius at that”?
That is right, he gave you an education in how the real world works.
FluxPavilion says:
Now it’s 2024. Still on the descending Dorito to who-knows-where. RC is now…the R-CEO. The Wallet/NFT Marketplace Beta’s have been wound down for now. The overall macro market and economic environment looks pretty terrible except military industrials perhaps. There is record credit card debt, student loans back up for repayment, debt to income ratios are highest they’ve ever been, etc.
GME as a small/mid cap is positioned to weather the storm. Maybe even make a highly beneficial acquisition. And is becoming a holding company under R-CEO leadership, marked by a new investment policy allowing equity investments. They also have maintained their cash position rather well…it’s actually slightly gone up, so no cash burn, very little SG&A, etc. hovering around neutral earnings per share and free cash flow only ever slightly beating (or missing) expectations so there is stability showing which is attractive to institutional investors.
We will see.