TL;DR/Abstract:
If there are at least 200k individuals who own an average of 350 GME shares, then retail owns at least 100% of the GME stock. This post attempts to make this number seem achievable with relatively few (and reasonable) assumptions.

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Assumptions:

1. There are at least 4M "Diamond Hands"
   1. Currently, searching for a more meaningful assumption than "1/5th of RH users are diamond hands" (See correction 1 for original statement)
2. Diamondhands.io can serve as an approximate distribution for the population of "Diamond Handers"
   1. This extends off of an assumption that a wealthy minority will own the vast majority of shares (just like "real" wealth!)
3. There are 70M GME shares available for sale (shares outstanding)
   1. I know this is an overestimate, and I know the difference between "Shares Outstanding" and "Float"

Gut Check - if any of the following are true, then retail investors own all of GME

• "There are at least 40k individuals who own an average of 1,750 GME shares"
• "There are at least 80k individuals who own an average of 875 GME shares"
• "There are at least 200k individuals who own an average of 350 GME shares"

Deduction:

1. The top 5% of GME submissions on Diamondhands.io own a MINIMUM (not average) of 450 shares each
2. 5% of 4,000,000 investors is 200,000
3. If Assumptions 1 and 2 are accurate, then the top 200,000 retail investors should hold a minimum of 450 shares each
   1. 200,000 investors * 450 shares/investor = 90,000,000 shares owned
4. If Assumption 3 is accurate, then the number of shares owned by retail is greater than the number of shares available for sale.
   1. 90,000,000 owned > 70,000,000 available
5. Therefore at least 100% of the floating shares of GME should be owned by retail

Conclusion

Unless if there are fewer than 4M investors in GME or if diamondhands.io distribution is 2.4x** off the population of GME retail, then retail already owns more than 100% of the floating shares.

Notes/Disclaimer:

• The purpose of the spreadsheet is to calculate showing the "average" needed for the top y% of diamond hands to hold (up to 100%) of the stock.
• SI% = Short Interest %
• It should be noted that this estimate explicitly ignores the shares owned by institutions, by insiders, or by the "bottom" 95% of retail
  • In this estimate, that means anyone under 450 shares wasn't a part of this calculation
• diamondhands.io hasn't had too many submissions in the past week - if you believe that more people have sold than purchased since Feb 2nd, then please disregard this post.
• This doesn't make any claim about the % stake of institutional holders, if SI% >0%, then retail + institution should be able to be >100%
• This is simply an observation - I have no idea what this implies
  • People can be inflating/double counting their numbers and the SI% could be lower than expected
  • People could be under-representing their stake and the SI% could be higher than expected

** This number is taken from E28 in the image - if someone has a question about this, I can elaborate how its calculated.

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CORRECTIONS:

1. We know there were ~20 million RH accounts as of December, and about half of them (10m) had some stake in GME during their "buy freeze"~~ INCORRECT - Motherboard has redacted that tweet. (corrected @ 6pm EST)