at $1 per share, the market cap would be about $300 million, far less than the amount of cash on hand that GameStop currently has, not to even speak of RC's personal warchest and the ~ 200,000 DRS'd investors that would be scooping them up at that price.

Personally I don't see how it would be possible for the price to go that low, but if it did I would be buying as many as I could.

Lemmy is a breath of fresh air.

To me, going from Reddit to Lemmy feels similar to way back when, going from Digg to Reddit.

back then, there was a sense of superiority among Digg users, and when people suggested "maybe try Reddit", it was quite often met with criticism and scorn, "Reddit sucks, the UI is ugly, only nerds use it", and similar types of of criticism.

and yet, Digg continued to falter from its shortcomings, and Reddit continued to exist as a viable alternative. Initially it wasn't appealing to everyone, but a large enough number of people gave it a try that it continued to grow, and as it grew it became more attractive to a larger number of people, and then became an equal competitor Digg, and Digg continued to falter, and eventually Reddit emerged as the superior alternative.

the transition from Reddit to Lemmy has many similarities to that story. Reddit is faltering from its shortcomings, a common sentiment encountered on Reddit when mentioning Lemmy or the fediverse is met with a similar arrogant sense of superiority, and yet Lemmy continues to grow and attract new users.

as the days go on, Lemmy will continue to appear as the more attractive alternative against the backdrop of Reddit's shortcomings to a larger number of people. to me it seems that we've already crossed some critical thresholds and it's only a matter of time before the fediverse becomes mainstream.

glad to be here with you all

members of this Lemmy instance are investors of GameStop, and more specifically investors here advocate that all investors benefit from directly registering their shares. By directly registering shares of a company that you paid for, you get genuine share ownership. If shares that you paid for are not directly registered but instead held in a brokerage account, those shares are not actually owned by you, they are owned by Cede & Co, the central depository of the Depository Trust Company.

Due to the high stakes nature of the situation surrounding GameStop, investors of GME and advocates of DRS have faced and continue to face persistent antagonism and opposition from many directions, because investing in GME and directly registering shares is against the interests of certain incumbent institutions that have a vested financial interest in GameStop's demise.

For this reason, it is to the benefit of those that oppose GameStop's success that people would view GameStop investors as nothing but rabid cultists, and not as legitimate investors of a legitimate company. It is why they use words like "meme stock". It is why they say things like "Sell the stock first, ask questions later".

Members of this Lemmy instance have been facing issues on Reddit and so we are now here using Lemmy.

because the mod team of superstonk is corrupt and does not want people talking about certain subjects. they also believe there should be no community interconnectedness. nobody is allowed to talk about anything outside of the permitted boundaries of discussion, and even associating with communities or subreddits outside of superstonk is grounds for being banned there.

those mods have demonstrated a pattern of behavior of censorship of, among other subjects, anything at all related to the BBBY saga. https://lemmy.world/post/5613015

It comes off rather grim.

But, this is just a letter to set the stage for RC as the new CEO, what his employees can expect of him. Grim maybe, but it might just be hard dose of reality.

Recent words by Pulte also seem to lean towards this notion that we are up against powerful forces that oppose our success, and that victory won't be easy.

RC has emphasized to judge him by his actions and not his words. And, from my point of view, the action sequence in summary has gone kind of like this:

• RC buys in to GameStop
• RC replaces the entire board and becomes chairman
• GameStop raises $1.7 billion through the 2 ATMs, pays off debts, provides funding for operations, etc.
• 2 years later GameStop currently holds nearly $900 million in cash and a negligible amount of debt
• GameStop's recent quarter showed very small losses overall, a major improvement over previous years
• RC is now in the CEO chair and has the most at stake here

Though this letter has a particular tone that might come off as grim, it seems to me like GameStop is in a pretty safe position regardless. I've seen some comments on Reddit about appearing weak when you are strong, that whole art of war thing.

In any case, I trust that RC is the man for the job, he puts his money where his mouth is, and he works hard. I feel confident knowing that the interests of this person leading the company are in alignment with my own interests as a shareholder.

hilarious, unsurprising, and gross.

the truth is that those mods have demonstrated a sustained strategy of censorship and information control. they are petty and vindictive, and if they don't like you they will find a reason to remove you from "their" subreddit that they believe and act as if belongs to them.

pretty terrible community leaders, that's what they are.

personally i am embarrassed by the behavior of those mods. they have poisoned what was once a great subreddit and community.

Also, it's pretty funny to me how some financial incumbents find this news to be "alarming". It's alarming to them, it scares them. It scares them because they already decided that GameStop is bad and Ryan Cohen is bad, but now Ryan Cohen has even more concentrated control to support his ability to execute his strategy.

I've now seen on multiple occasions, the sort of FUDdy counter narrative: now Ryan Cohen has the ability to buy assets that aren't GME. If he had any faith in his company, he would simply use that money to do a GME share buyback.

What a giveaway.

These opponents want RC to do a GME share buy back. Almost as if, this would be a strategically poor move for GameStop at this time but a good move for GameStop's opponents. Discussed here is why, as of this time, it would not be a good decision to do a share buyback. The only scenario in which that would actually be a good idea would be if the price of GME tanked very low. Better to hold on to that buyback money as an insurance policy, just in case the share price ever does get tanked. In that case, the waiting cash for the buyback covers the problem.

In the mean time, at current GME prices, there are probably other undervalued opportunities that RC has his sights on, and this is scary to anyone that opposes GameStop's success.

It's a great question and you aren't doing anything wrong.

The answer is: no, you do not need a separate account for each instance.

Lemmy is great and I love it but it is not as beginner friendly as it could be and not as seamless as it could be. I believe in due time it will get better, but regardless we're working with what we've got.

Anyone on any instance can participate and interact with anyone else or any other community on any other instance. Once you've subscribed to a few communities (on Lemmy, "subreddits" are called communities) on various instances, then it's easy to find that content under your Subscribed feed. But finding those communities initially can be tricky sometimes.

My account is on the instance hosted at lemmy.whynotdrs.org, whereas your account is on the instance hosted at lemmy.world. I am replying to you from my home instance, from this post . It's the same post that you are currently seeing and participating in, but your are seeing the post through your instance.

If the server that is hosting lemmy.whynotdrs.org suddenly stopped working, I would no longer have access to my account or any of the content hosted on that instance, whereas you would still be able to use Lemmy because your account is available on a different server hosting lemmy.world.

why not both?

i can't speak for anyone else, but I believe that Ryan Cohen is on a mission to see GameStop succeed, and I'm invested in that mission. GameStop has a ton of potential, if you choose to believe in that, and I do.

As for the short squeeze part: we already saw a glimpse back in January 2021. it was so dramatic that they made a movie and numerous documentaries about it. It only ended because incumbent financial institutions colluded to disable any further purchasing of shares of GME, because if they didn't do that, that episode would have been game over for them. This detail is disputed by the folding ideas guy, but simply put I think he is biased and wrong. But, he would allege that I am biased and wrong. So who is right? I don't know, I guess we will find out.

Believe it or not, I was banned from Reddit for trying to talk about DRS too much…

not hard to believe at all. Reddit's and superstonk's antagonism towards certain DRS conversations and the DRSGME.org team is one of the main reasons why this Lemmy instance exists in the first place. i wrote a post about it.

to this day, the mod team of superstonk is promoting Plan over Book, suggesting:

• investors should use scheduled recurring buys through Computershare (therefore putting their account into Plan)
• "it is insidious" that anyone ever suggesting people should turn off recurring buys
• it is sad that people sold fractional shares
• anyone who goes against the mod team is not acting in good faith

On the subject of good faith, the mods of superstonk:

• censored and banned all Plan versus Book discussions and DD in the superstonk subreddit
• they tried to censor any mention of such DD in other subreddits (r/DRSyourGME)
• when their attempts at total control failed, they pretended as if that DD was always welcome to have been posted in superstonk
• banned nearly everyone from the DRSGME.org team from the subreddit
• banned many other users who have otherwise questioned their authority
• now that most of the resistance to their authority has been eliminated from the subreddit, they continue to push the narrative that investors should engage in behaviors that result in their account being enrolled in Plan
• banned any mention of any alternative communities, banned the mere mention of the word "lemmy"

The superstonk mods have asserted their agenda over the subreddit and banned anyone that resisted their agenda. They ban anyone for suggesting that there are other places to go.

It's almost as if the superstonk mods really don't like pure DRS book, and they really don't like people going to any places that might discuss things that contradict their preferred agenda.
I have a very hard time understanding how this could be, unless I consider the possibility that they have ulterior motives.

I understand and share your frustration. The system we're in right now is pretty rotten.

Power corrupts, and the incumbent power holders of wall street are the most powerful and corrupt of them all. And most of what we are witnessing are symptoms of those power holders taking actions in their interests so that the end result is that they are the ones that continue to hold the power. They cannot play fair because if they played fair then they would lose their power and the game would be over for them. The ability to play unfair is a privilege for corrupt power holders.

So really it becomes a game of: how do you unseat corrupt incumbent power holders? It's a very challenging thing to do, because they have so much more power than you, so much of an unfair advantage over you. Everything you attempt to do to take them down, they will outmaneuver you with superior access to information, access to money, access to political power, access to media, control over what people consider to be the "truth", etc.

But, supreme power or not, they are not omnipotent and they are not invincible. They do have weaknesses.

Consider that, if simply everyone in the world knew, like we know, how the cheating works -- the naked shorting, the failures to deliver, the intent of preying on vulnerable companies to profit for billions, picking and choosing winners in the stock market, manipulation of the media to sell false narratives that deliberately hide the important truths -- if everyone everywhere knew about it, they'd be outraged at the injustice.

Everyone understands basic principles of justice and fairness. It's something that was written into our genes millions of years ago. Consider this example of the monkeys and the cucumbers and grapes.

Everyone knows when something is basically fair or unfair. If everyone in the world knew what was really happening, the consensus would be that wall street is unfairly stealing from everyone else and that we'd all be in agreement that the situation is unjust, and that something needs to be done about it. Obviously the power holders know this too and that is why part of their operation includes perpetrating acts of mass mind control by using the media to tell lies every day and hide the truth every day, so that the masses of the world do not take any action but continue to slave away for currency that affords less and less every year.

Our opponents are powerful but they are stuck in a trap. They really don't have many avenues where they can achieve their desired outcome where they continue to hold power and also keep the system as they know it in tact. I think January of 2021 was an unexpected event which caught them off guard, and it opened Pandora's box. Everything that has happened since then has been in many ways reactionary.

I surely don't know what is going to happen, but I do believe that DRSing shares of GME is something that scares them a lot. DRSing has slowed down to a crawl, and this benefits them. Pulte has repeatedly said things like "how do we get 10 million people to do this, how do we get 100 million people to do this", and he's simply addressing the reality that if everyone out there simply understood as we already do that there is a path to victory against these rotten cheating criminals, those opponents do not have sufficient power to resist the strength of all of us.

Great work Ross. Thanks for creating this community here.

I was just about to respond to your comment on Reddit but that thread was locked before I could.

Ross, could you please go on the pp show live stream tonight and bring up the discussion of Lemmy?

by the way the link you provided did not work, you'll want to use: https://lemmy.world/c/theppshow

firefox gang rise up

generic meme mush

great description, you're completely right.

Also i think almost everyone here probably knows this, but wallstreetbets banned GME in November 2022. What possible good faith reason could exist for implementing such a restriction?

"Hi, welcome to the casino. you can gamble your money on any one these fine ~ 7000 stocks."

"Nice, I'll take some GME."

"No, not that one"

Hilarious.

Ross i think you roasted somebody's ego too hard last night without even saying any names. In retaliation, you've now been banned from superstonk.

OP, are you not aware of the Lemmy instance hosted by the DRSGME folks?

There are some great communities there, such as:

• !drs_your_gme@lemmy.whynotdrs.org
• !anticensorship@lemmy.whynotdrs.org

I just find it funny how the mods of a community with almost 900 thousand members are so threatened by the mere mention of a different online community with merely a few hundred members. what are they so afraid of?

so insecure and controlling, don't even THINK about going somewhere that isn't within their control. but the ironic thing is that the more that they abuse what little power they have in this world, the more apparent that corruption becomes to everyone, which will only accelerate the motivation for people to search elsewhere for discussions.

Thanks so much Chives for writing this post. I've been hoping for some additional perspectives on this situation and this is the clearest one yet.

It's a nuanced but very significant distinction. It isn't immediately obvious when Paul Conn is speaking, the true implications of what he is saying. I don't think at any point Paul is lying, he is just saying a bunch of true statements that don't give the full picture. The sentiment he gives is that there is no practical difference, just some technical differences. This isn't even necessarily inaccurate. It's just misleading.

Initially, long before this discussion ever came up, I always assumed that "my shares are with Computershare, so they are DRSd," a belief that was ignorant of the existence of distinction of Plan aka DSPP aka DirectStock, and DRS.

What I've come to learn and understand over the last year or so is that just because my shares are with Computershare does not mean that they are all in DRS. In a practical sense it might seem that way because they are all accessible through the same account.

This is a very excellent post that provides a fresh look on this topic.

DRS provides true share ownership. Plan is not DRS. Plan shares are not DRS shares.

True share ownership is with DRS. Plan shares do not provide true share ownership.

As for what Computershare is really doing with Plan shares at various times, this is something that is still unclear to me.

I like having true share ownership, and I don't like it when then DTC or anyone else uses my investment for their own purposes. All my shares are 100% pure DRS.

i share this feeling. the earnings results today were very good. last week i called this a "good outcome" but i've changed my mind. it's very good 🙂

I think it is indisputable: the standing and performance of the company is improving under Ryan Cohen's leadership.

Hello,

I keep track of GME Lemmy instances and other fediverse instances (e.g. Mastodon) on my website gmehydra.org

as for specific communities that exist on not-GME-specific-instances, I know of at least 2:

• https://lemmy.ca/c/gmecanada
• https://lemmy.ml/c/superstonk