Tag: GME Stock News

GameStop Says 30% of Shareholders Have Registered Their Shares

Market News: At least 30% of GameStop shareholders have registered their shares.
Market News: At least 30% of GameStop shareholders have registered their shares.

GameStop says at least 30% of its shareholders have registered their shares with the Direct Registration System (DRS).

According to the filing, approximately 30% of GME’s float is registered equating, to 71.3 million shares.

The efforts from retail investors come as a means to prevent manipulative short seller attacks.

GME stock is trading at $21.66 on Monday with trading volume surpassing the company’s average volume of 5.1 million.

Shares of GameStop (NYSE:GME) are up +26% this year-to-date, a great start to the new year.

On Monday, GameStop shares have risen more than 11% intraday where shares rose to nearly $22.50.

GME’s short interest is currently sitting at 23.55% with approximately 95 million shares out on loan.

This means that despite DRS, the game retailer continues to be heavily shorted.

GameStop Ownership Structure

How much of GameStop’s float is owned by retail investors?

Nearly 70% of the float is owned by individual shareholders according to Vickers Stock Research.

GameStop Ownership Structure - Franknez.com.
GameStop Ownership Structure – Franknez.com.

This means nearly 40% of retail investors have not registered their GameStop shares through DRS.

Yet it’s very possible the percentage of GameStop shareholders who have registered their shares has grown in the past months.

GameStop’s Chair Ryan Cohen himself owns more than 12% of GME shares.

These are held through Ryan’s holding company RC Ventures, which Vickers considers to be Institutional ownership (12% on graph).

Is DRS working out for GameStop shareholders?

It very well could be, considering GME shares are up nearly +26% this year despite having a high short interest rate.

AMC Entertainment (NYSE:AMC) stock on the other hand is up +44% this year despite DRS being significantly less popular within shareholders.

The movie theatre stock is also heavily shorted at 21.96%.

And according to AMC’s CEO, roughly 90% of shareholders own the float.

Where is GameStop headed in 2023?

GameStop 2023
30% of GameStop Shareholders have registered their shares according to GameStop.

GME stock has the potential to have a big year in 2023.

GameStop continues to be a popular company amongst retail investors, primarily due to the massive community of shareholders who are looking to squeeze short sellers again.

During the spark of the ‘meme stock’ frenzy, GameStop shares rose to $483 per share, a superior all-time high.

But shareholders are not convinced the stock is done running.

2023 opens up new possibilities for GameStop as e-commerce, NFTs, and Web 3.0 gaming continues to grow.

While the company may benefit from arming itself with more short-term capital, GameStop enters the new year with positive cash flow, an incredible start for the company as many continue to struggle.

Also Read: Occupy the SEC 2023 is Here: What’s Happening?

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GameStop Stock: Big Year in 2023?

Market News: What is happening with GameStop stock in 2023?
Market News: What is happening with GameStop stock in 2023?

GameStop stock is one of the few companies who actually crushed in during the bear market in 2022.

The stock, currently trading at $18.40, amassed worldwide attention in 2021 when the ‘meme stock’ frenzy took Wall Street by surprise.

Today, GameStop has one of the most raving fanatics and shareholder base which without a doubt are the backbone of the company.

How much of GME’s float is owned by retail investors?

Approximately 70% of the float is owned by individual shareholders according to Vickers Stock Research.

GameStop retail ownership

GameStop’s Chair Ryan Cohen himself owns more than 12% of GME shares.

These are held through Ryan’s holding company RC Ventures, which Vickers considers to be Institutional ownership.

So, where is GameStop headed in 2023?

Let’s break down some important figures to determine just that.

Where is GameStop Headed in 2023?

where is GameStop headed in 2023?

2022 was another memorable year for GameStop.

Under Chairman Ryan Cohen and CEO Matt Furlong, it was the first year of the implementation of the company’s turnaround plan, which aimed to transform GameStop into a tech-oriented business.

This consisted of investment initiatives in e-commerce, an NFT marketplace, and Web 3.0 gaming.

But the company needs to focus on raising more capital despite its $1bn cash pile and having virtually no debt.

GameStop’s quarterly cash burn averaged at $400 million per quarter throughout 2022.

This means that if the company’s operating cash flow remains at similar levels next year, GameStop’s balance sheet could run out of cash in the next two years.

Over the last four quarters, GameStop’s sales have grown only by 1.3%.

Still, what made 2022 so significant for GameStop is the reporting of positive cash flow for the first time since Q1 of 2021.

Cashflow came in at $177.3 million this year compared to an outflow of $293.7 million last year.

This is already great news for GameStop going into 2023.

In 2023, GME stock will remain popular amongst retail investors, primarily due to the massive community of shareholders who are looking to take GameStop shares to the moon.

During the spark of the ‘meme stock’ frenzy, GameStop shares rose to $483 per share, a superior all-time high.

But shareholders are not convinced the stock is done running.

In fact, many GME shareholders believe share prices may skyrocket to new records, primarily due to overleveraged shorting in GameStop.

According to GameStop, shareholders registered 71.8 million shares via the transfer agent.

This equates to a massive 30% of GameStop’s total float – something that’s very unlikely in the markets.

Transfer agents can’t lend shares for short sellers who want to bet against GameStop.

The high number of market participants taking this action signifies that retail investors are here to stay.

Final thoughts

Join the newsletter below for more market news and updates.
Join the newsletter below for more market news and updates.

2023 opens up new possibilities for GameStop as e-commerce, NFTs, and Web 3.0 gaming continues to grow.

While the company may benefit from arming itself with more short-term capital, GameStop enters the new year with positive cash flow, an incredible start for the company as many continue to struggle.

Even at a fundamental level, analysts are predicting GameStop stock to rise significantly higher next year.

But I’m curious to know your thoughts on where GameStop stock is going in 2023.

Leave your thoughts down below.

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Billionaire Investor Carl Icahn Bets Against GameStop

Carl Icahn Short on GameStop
Stock Market News: Carl Icahn is short on GameStop shares.

Billionaire investor Carl Icahn began shorting GameStop during the height of the ‘meme stock’ frenzy around January of 2021.

Carl Icahn still holds a large short position in GME stock, according to people familiar with the matter.

Icahn started building the short position when GameStop was trading near its peak of $483 per share and still holds a large bet against the retailer’s shares, said people, asking not to be named due to the matter being private.

The billionaire investor who has added to his position from time to time is betting that GameStop’s stock isn’t trading on its fundamentals and will continue to fall, insiders said.

Here’s the latest GameStop news.

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Ryan Cohen Posts Picture with Carl Icahn

GameStop chairman Ryan Cohen posted a picture with Carl Icahn in October which many shareholders anticipated as bullish future news.

People began to speculate Carl Icahn was going to buy GameStop shares.

Little did shareholders know that the multi-billionaire investor has been betting against GameStop since the beginning of the ‘meme stock’ frenzy, per Bloomberg.

At the time of the photo, neither individual confirmed that Icahn would take a stake in the retailer.

In January 2021, Ryan Cohen was appointed Chairman of the video game retailer.

As of March 22, he owns a total of 36.4 million shares of GameStop through his investment firm, RC Ventures, making him the largest shareholder.

GameStop shares closed at $25.16 on Monday, down -8.84% on the day.

Related: Shareholders Are Preparing for An AMC Short Squeeze

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GME Stock Sees a Massive Increase in Trading Volume

Stock Market News Today: GME Stock gets halted during surge.
Stock Market News Today: GME Stock gets halted during surge.

GME stock saw a massive increase in trading volume on Monday when the stock jumped to nearly $35 per share.

The surge came after S3 Partners CEO announced GME stock could go parabolic if it rose to $30 per share.

GameStop was halted twice on Monday after the market opened and has slowly trended downward since.

The stock was forced to lose its momentum despite the heavy trading volume seen early in the trading day.

GameStop’s volume surged nearly 5 times its average trading volume on Monday but was prohibited from surging.

GME Stock Halt October 31, 2022.

Retail investors are calling S3 Partner’s announcement a setup, or trap to burn shareholders.

But Wall Street can easily create a big sell order in the market despite of heavy volume from retail, the question here is why not go long with them?

Last year, GameStop and AMC shareholders were able to inflict hedge funds who were betting against the two companies with billions of dollars in losses.

Are retail and hedge funds at war with one another?

It certainly seems so.

Is a GameStop Short Squeeze Likely?

GameStop short squeeze

Despite the market advantages financial institutions have over retail investors, large continuous volume over a period of weeks could trigger bigger price action for GME stock.

One-day rallies of heavy buying volume isn’t enough to combat market makers.

Like last year, it’s going to take continuous buying pressure to compound the momentum that will likely result in a GME short squeeze.

But I’d love to know your thoughts on the matter.

Leave a comment down below.

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S3 Partners CEO Says GME Stock May Squeeze Again

GME Stock squeeze | S3 Partners GME parabolic news.
GME Stock squeeze | S3 Partners GME parabolic news.

S3 Partners CEO Bob Sloan said in an interview with Yahoo Finance that if GME stock goes above $30, “you could see something parabolic”.

Yahoo Finance asks the CEO if there is enough short activity or short volume in GameStop’s float to cause something at scale like what we saw in the beginning of 2021.

Bob Sloan says that if you look at GME, there is still one to two billion short on the stock.

He then warns that if the stock goes past $30, it’s very likely we see some massive upside.

Will GME Stock Squeeze in 2022?

GME Stock squeeze | S3 Partners GME parabolic news.
GME Stock squeeze | S3 Partners GME parabolic news.

S3 Partners CEO Bob Sloan says there’s a great probability of GME Stock going parabolic if it hits $30 per share due to the massive amount of short activity currently present.

S3 Partners provides data and predictive analytics.

The company also provides accurate and real-time short interest; logging how much is being borrowed or loaned in a float.

The high short interest in GameStop is what caused GME stock to skyrocket in late January of 2021.

Short sellers were forced to close their positions in GME stock when retail investors were able to push the stock price up as a collective.

The short covering further fueled the momentum and GameStop shares flew to nearly $400 per share.

AMC Entertainment had a similar occurrence when shares jumped from $2 per share to $20 per share.

In June, AMC rose again from $14 per share to its current all-time high of $72 per share.

Retail investors holding both stocks have been buying and holding for over a year now, anticipating even larger moves.

Related: AMC's Social Media Move is A Sleeping Giant

Are You Holding GME Stock?

GME Stock squeeze | S3 Partners GME parabolic news.

Leave your thoughts below.

Will GameStop squeeze again?

Or are we merely looking at another simple price runup.

I’d love to know what you think.

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GameStop Short Sellers Eat $443.4m in Losses

GameStop Short Seller Losses
Market News: GameStop Short Seller Losses | GameStop outperforms S&P 500

GameStop short sellers are having one of the worst months this year.

Investors betting against the stock have amounted more than $443.4 million in losses, according to S3 Partners, LLC.

Hedge fund Melvin Capital closed earlier this year when it failed to recuperate from its losses shorting GameStop last year.

S3 Partners, LLC recently released a report showing AMC short sellers have lost more than $1 billion this year so far.

It seems financial institutions have not learned their lesson this year.

Here’s the latest market news surrounding GameStop and short seller losses.

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GameStop outperforms the S&P 500

GameStop outperforms the S&P 500

The market has been down all year, but GameStop has managed to outperform the S&P 500 index.

The SPY is down more than -17% this year while GME stock has managed to hover at -12.70% this year-to-date.

Looking at the 6-month chart and we’ll find GameStop outperforms the S&P 500 by a long shot.

On the 6-month chart, GameStop is up +42% and SPY is down -8%.

The one-month charts are fairly similar with both up about +2% in July.

And with GameStop’s stock split making the stock more affordable, it’s fair to say more investors will be jumping in on it.

It’s very possible GameStop short sellers end up getting caught at the wrong end of the trade again as the third quarter ends and we transition towards Q4 in October.

According to a report published by S3 Partners on July 21, GameStop has been among the top 10 most unprofitable stocks for short sellers during July 2022.

Other companies on that list include:

  • Tesla
  • Apple
  • Amazon
  • Nvidia
  • Visa
  • Coinbase
  • Lucid
  • Meta
  • Microstrategy
Most unprofitable shorts July 2022
Most unprofitable shorts July 2022

The loss of -$443,463,550 is equivalent to a net loss of -24.22%.

Tesla, Apple, and Amazon had the most unprofitable shorts for the month of July, netting billions in losses.

Related: List of The Best Stock Tickers to Day Trade

Retail sentiment in GameStop

The retail sentiment in GameStop is still rather strong and bullish.

And because GameStop’s reported short interest is still quite high at 23.86%, it’s very possible big momentum is able to squeeze the remaining short sellers from their positions.

Another short squeeze is still very possible for GME stock.

Are you a shareholder?

Leave your story in the comment section of the blog down below.

Related: How to Invest in The Stock Market for Beginners

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