Ownership pie chart

Ownership table

images source

On May 17 GameStop announced plans to sell up to 45 million shares, and on May 24th they announced that all 45 million shares were sold for $933 million, at an average price of about $20.73.

Modifying shares outstanding from 306 million to 351 million is an approximately 15% dilution. A shareholder could have expected the value of their own share holdings to have dropped 15% from this action, but shareholder value hardly went down at all as a consequence of the dilution and in fact is up about 75% from May 1 to May 24.

source: gmetimeline.org/ownership

image source

"Held at" DTC versus Computershare

As of March 20, 2024 there were 305,873,200 shares of GameStop's Class A common stock (GME) outstanding.

"Of those outstanding shares, approximately 230.6 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.3 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares)."

• 25% of issued shares of GME are owned by directly registered shareholders

• The other 75% is held by Cede & Co on behalf of the DTCC

As of May 24, 2024, GameStop completed an at the market equity offering, and sold 45,000,000 shares, increasing the total amount of shares outstanding to approximately 351,000,000.

DRS vs DSPP

Information about DRS versus DSPP counts held at Computershare are not reported publicly.

This information is available, however, on the GameStop stockholder list which can be viewed in person at GameStop headquarters.

The latest data we have was from 2023 when GME shareholders viewed the stockholder list and obtained some data including DRS vs DSPP counts. Source: https://www.drsgme.org/2023-stock-list-viewing

The DRS vs DSPP numbers in the graphic have been rounded for simplicity based off the data from that 2023 source.

Of shares held by Computershare: 53 million DRS, 22 million DSPP.

May 24, 2024

GRAPEVINE, Texas, May 24, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has completed its previously disclosed “at-the-market” equity offering program (the “ATM Program”).

GameStop disclosed on May 17, 2024 that it filed a prospectus supplement with the U.S Securities and Exchange Commission to offer and sell up to a maximum amount of 45,000,000 shares of its common stock from time to time through the ATM Program. The Company sold the maximum number of shares registered under the ATM Program for aggregate gross proceeds (before commissions and offering expenses) of approximately $933.4 million.

GameStop intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments.

Noticed this post on reddit, decided to give this >40 minute documentary a watch.

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A review of GAMESTOP to the MOON - How Reddit almost triggered an Economic Crisis | FD Finance

★★☆☆☆

2/5, would not recommend.

TLDR: documentary focuses primarily on the events of late 2020 and early 2021, conflates AMC and GME as equivalent things, concludes with the insinuation that all AMC, GME, and NFT investors are losers that have lost almost everything

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• Title of the documentary does not match the content of the documentary. A more appropriate title might have been "the story of Reddit day traders pumping AMC and GME." That is what this documentary was about.
• paints most of these investors as either foolish day traders or naive investors, uses words like "gambling", "casino"
• lots of FUD sentiment throughout
• a few of these investors made a lots of money while most investors were losers
• 32:04 "GameStop led the way. And, as a group, the totality of the group picked AMC next.
  And, it wasn't like somebody said oh man we're all gonna go over to AMC, it's just kind of you know, that's where the flow goes, that's where the chatter goes, and AMC was the next stock."
• for some reason, out of nowhere, in the final 5 minutes the documentary suddenly starts talking about NFTs and makes them out to be pointless. Doesn't mention GameStop's relationship with NFTs but in stead focuses on how NFTs were a speculative bubble with foolish investors, just like with AMC and GME.

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Total waste of time. I don't know who the intended audience was for this, but this is just more pointless narrating about the lives of people that experienced events that happened 3 years ago, concluding that the story is over and all those people that didn't get out with gains are losers that are never going to win.

It's as if the media like this is stuck in the year 2021. Reddit. Wallstreetbets. AMC. GameStop. Day traders. Robinhood. Down 90% since peak. The end.

Breaking news: in one of the most productive countries / economies in the entire history of humanity, the majority of people creating that productivity do not get to enjoy the rewards of that productivity.

same as it ever was.

cross-posted from: https://lemmy.whynotdrs.org/post/494473

Compared against the predominant incumbent social media platforms, the fediverse is very small.

information sources:

• List of social platforms with at least 100 million active users - Wikipedia
• Fediverse Observer

Hi all,

I was thinking about this notion of forming an activist investor group which has been circulating in this community for a little while. To this day I think it is still unclear what that might look like, how to do it "properly", etc.

Perhaps, at least at this stage, we don't even need a formal group or organization at all, perhaps we just need this community that we already have to take a set of actions in this direction.

For one thing, in my opinion at least, there is no online public community space better than this Lemmy instance to get started on this. This Lemmy instance is owned and operated by DRS'd shareholders of GME and is not beholden to outside influence.

I see no reason why we can't use these very discussions on this Lemmy instance, and elsewhere, to determine precisely what it is that we want to propose to the company, and to then proceed to formally make that proposal.

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Here is rough plan of action that we GME investors could take without having to create a formal "group" entity:

1. Determine first what it is exactly that we want to propose to the company. For example, there are already some great proposal ideas such as from this post by Chives

• Move to have Computershare act as custodian for IRAs
• Revise the contract of the DirectStock plan
• Issue a bulk of shares to sell directly to investors
• Request that GameStop insiders hold their shares in pure DRS
• Request GameStop to consider becoming their own transfer agent
• Request GameStop to introduce pro reward incentives for registered shareholders

2. Once we know what we want to propose, create a formal proposal document that addresses, in detail, some or all of the proposal items we want. Or perhaps, create separate documents, one for each proposal idea.
3. Put the proposal documents on a website. It could be any website, e.g. it could be the DRSGME.org website, it could be an entirely new clean website with nothing in it except for a single page with links to each of the proposal documents.
4. Eligible shareholders from the community that meet the formal proposal requirements then proceed to individually propose to the company to review the proposals located at the specified website. E.g. it might go something like: "I propose that GameStop reviews the 6 proposal documents found at gme2023communityproposals.org"

At that point, GameStop receives some number of proposal requests from the community, maybe 5, 10, or 100, or more individuals submit such a proposal and each one is identical or very similar to one another, each of them directing the company to review the proposal documents at the target website.

GameStop confirms on their end that each individual that makes a submission in fact meets the requirements and would then have to address the proposed ideas.

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Please critique this idea and offer any suggestions you may have.

Hi all,

I've seen discussions bubbling up about starting an activist investor group, for the apparent purpose of creating a sort of legal entity of some kind that would enable GME investors to more effectively make proposals to our company and that the company would be required to address the proposals to some degree.

I like the idea but frankly I have no idea how such a group would function.

Some simple internet searches don't immediately provide clear answers, this doesn't seem to be a super common idea. Just looking to ask some questions and try to get some information to flesh this idea out a little bit.

• What would be required to start such a group?
• How does an activist investor group govern itself?
• What would a governance structure look like?
• How does somebody become a member?
• How do members get their interests represented in the group?
• Would there be voting mechanisms?
• Are lawyers required?
• What other costs would be involved?
• I presume the group would be based in USA. Which country or jurisdiction would this group reside in and what implications would this have for other international members?

I don’t expect anyone to necessarily know the answers to all these questions, this is just what initially comes to my mind. I like the idea, it sounds promising. But a certain amount of education will be required. I will try and do some research of my own but hoping others might know more than me and can maybe enlighten me a little bit a bout this.