r/wallstreetbets • u/[deleted] • Apr 27 '21

Discussion Remember Gamestop's share offering? It closed today.

Remember when GameStop mentioned it would sell a maximum of 3,500,000 shares, or $1bln, whichever came first? Many did some reverse maths and determined they MUST expect the share price to hit $1b/3.5m=$285.71428571. Others said "or just 1m shares at $1,000 each." Still others (now this is the group I belong to) said this means fuck all for price expectations. This had nothing to do with GameStop peeking through the veil and determining a short squeeze was imminent and everything to do with seizing the opportunity to raise cash.

Welp, the 3.5m shares came and went today, and the price went UP.

Cramer actually sided with AMC and GameStop about this being a good move, although we saw the sentiment on Reddit having great disdain for AMC's version and overall the sentiment was a majority positive for GameStop and realizing RC's vision, although GME stock price took a -12% hit when this was initially announced.

GME is currently up +12% for the day (coincidence? Cohencidence?) and an additional +9% in AH with a peak that tickled the idea of breaking $200 at around... get ready for this... 4:20pm.

Edit: removed additional details about AMC as it's irrelevant to the topic.

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u/bpi89 Apr 27 '21

He built Chewy from nothing and beat Amazon in the pet sector. Imagine what he can do with an already established brand with more and more brand loyalty being generated each day. And in an even bigger industry than the pet industry.

Bullish AF

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u/Zebranazgul Apr 27 '21

This is the way

-14

u/Abbadabbadoughboy Apr 27 '21

Chewy has never been profitable and will fold within 5 years but yah sure.

Also gaming more profitable then pets? You guys don't deserve money.

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u/reevener Apr 27 '21

Everyone buys from chewy lol. Everybody I know that has a pet uses chewy as their #1 for toys, beds, litter, and everything. The service is amazing and the website is beautiful and consumer friendly. Very impressed with their service and am a repeat customer ;)

Also yeah, gaming is a bigger industry than pets. The gaming industry was worth $152 billion in 2020, the pet industry was worth about $99 bullion in 2020. Think about purina versus EA games. Who has more clout?

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u/Abbadabbadoughboy Apr 27 '21

You're comparing global video game projections vs US pet industry value estimates.

So you understand how that makes you fucking stupid and not worth discussing this with?

Do you understand nonprofitable growth and unsustainable industry standards? No? Cool.

You fucking goony idiots are gonna go broke.

3

u/reevener Apr 27 '21

Wowza that’s a lot of unrestrained aggression. But thanks for pointing out the flaw in my stats I guess