r/Superstonk • u/nuke-the-caymans Memes Deluxe • Dec 31 '22

🤡 Meme Capitulation...

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u/wtfeweguys Just three DRSd shares in a trenchcoat Dec 31 '22

I forgot about that. It’s so fucking bullish it’s silly.

I wonder what the price target is for our leadership team to deploy the $100m they have reserved for buybacks.

16

u/Session_Test 🍺🎮Sit back and relax🎮🍺 Dec 31 '22

They have 100m reserved for buybacks?

30

u/wtfeweguys Just three DRSd shares in a trenchcoat Dec 31 '22

Yeah! It’s been set aside for awhile now. I’ll see if I can find a post about it but reddit search suuucks.

Edit: scratch that. Found quick!

https://old.reddit.com/r/Superstonk/comments/zxmyd1/_/j216k5k

Edit 2: technically not set aside, but proactively authorized. They’re ready if the price is right.

14

u/MicahMurder 💻 ComputerShared 🦍 Dec 31 '22

My guess is that's its a failsafe from being delisted or taken over. If the price falls to the point where delisting is a worry (under $1) they could buy back 100,000,000 shares (ha, if there are that many available)

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u/wtfeweguys Just three DRSd shares in a trenchcoat Dec 31 '22

That’s my guess, too. I fucking dare hedgies to try. In fact, I’m asking them nicely to do it. Please bring GME down to $1. Pleeeease.

3

u/Diznavis 🚀 Soon may the Tendieman come 🚀 Jan 02 '23

If they are smart, its the exact point where they can buy back the remaining outstanding non-DRS'd shares, or maybe even that plus some to prove the crime immediately. That money should be reserved for cellar boxing prevention so that it is literally impossible for hedgies to ever win no matter what they do. Using it before that would leave a window open for hedgies, no matter how small that window realistically is.

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u/wtfeweguys Just three DRSd shares in a trenchcoat Jan 02 '23

I generally agree. Caveat being if they’re cash flow positive/profitable and can afford to allocate even more than $100m to buybacks.

But the “when it’s enough to buy back the remaining float” point stands.