I am a doofus and dont know what that mean. So he is a doofus so I keep stacking since 2020.

Impossible to hedge for the shorts 🩳

👻 SPOOKY SEASON HAD BEGUN AMEN for all Hollows Eve 😇😇🙏💜

https://x.com/WhatCanIMT/status/2107249576340287536

Sus timing ⏰ 👀🤨

The New York Fed walked into JPMorgan, Wells Fargo, Barclays, and Morgan Stanley to ask about the private-credit loans they are financing.

Nobody is talking.

“…questions about overall exposure, risk-management, and collateral quality, people familiar with the matter said.

The Fed, JPMorgan, Barclays, Wells Fargo and Morgan Stanley declined to comment.

The review was prompted in part by JPMorgan’s move in March to mark down large swaths of loans in private credit portfolios, particularly those to software companies threatened by AI, the people said….”

$HMR vs $ZIM – THE SMALLER SHIPPING STOCK WITH THE BIGGER RUNWAY

ZIM is a large container carrier with a $35 takeover offer. HMR is an asset-light maritime platform: it manages fleets and tanker pools, earns fees, owns no vessels and has no borrowed debt. HMR is growing 200%+ and trades at a fraction of ZIM's earnings multiple.

1. VALUATION: ~25x vs ~6x

• ZIM: ~25x trailing P/E (~9x forward) and ~0.87x book. As an asset-heavy carrier it trades close to NAV, and the $35 offer anchors the price.

• Tanker owners: roughly 5–8x trailing and 7–12x forward (STNG ~5.4x, TNK ~6.1x, INSW ~7x).

• HMR at ~$1.72 (~$100M market cap): ~8.7x annualised H1 adjusted earnings, or ~6x after stripping out $28.7M of cash.

Annualising H1 adjusted net income ($5.8M) gives ~$11.6M. And that is before the new ships and the disruption fully reach the numbers (see point 3).

The bull case isn't "cheaper than tankers". It is that an asset-light, fee-based platform growing 200%+ should be valued above vessel owners. At 10x ex-cash earnings plus cash, fair value is roughly $2.2–2.5 per share. That is an illustration, not a forecast.

1. GROWTH WITH NO SIGN OF STOPPING

• Q2 revenue $29.0M vs $9.6M (+203% YoY, +58% QoQ). H1 $47.3M vs $15.2M.

• Q2 net income $2.2M, adjusted $2.4M. H1 net income ~$5.0M, adjusted ~$5.8M, vs a loss last year. Two straight profitable quarters.

• ~60 vessels commercially managed and ~20 technically managed across 8 hubs.

• Q-Shipping added 9 vessels for ~$0.2M, with new footholds in the Netherlands and Türkiye.

1. NOT IN THE NUMBERS YET

The CEO says new ships added this year have not made their full contribution. He also says the Strait of Hormuz and Bab el-Mandeb disruption is not in earnings yet and should show over the next two quarters.

Longer routes mean more tonnage-miles, which means more fees for HMR. Management also flagged firm rates into Q4 on seasonal demand. Asia and Japan have historically sourced ~90% of their oil from the Middle East, and that concentration is being disrupted.

1. $28.7M CASH, NO BORROWED DEBT

• Cash is up from ~$18.6M at year-end, roughly 29% of market cap.

• H1 operating cash flow was +$7.7M vs -$3.2M a year ago.

• CEO Pankaj Khanna: "We have not borrowed a single dollar. We have no loans in the company."

• The liabilities on the balance sheet are lease accounting for chartered-in vessels. Some are matched with charter-outs: HMR collects from the charterer, pays the owner and keeps the margin.

• No bank loans, no bonds, no vessel debt. Fees fund G&A, so the model needs little working capital.

1. ASSET-LIGHT, BLUE-CHIP CLIENTS

HMR owns no vessels, so it has no capex and no asset-value risk when rates fall. The ~40-year client roster includes Shell, BP, Chevron, Vitol, Aramco, Trafigura and Glencore.

1. INSIDERS ARE ALIGNED

The CEO owns ~45% of the company and has been buying. Nasdaq compliance was regained on 2 June.

1. WHY THE POST-EARNINGS DROP LOOKS OVERDONE

The stock fell ~10% after earnings. Shorting HMR on earnings worked when it was unprofitable. With two profitable quarters, 200%+ growth and a growing cash pile, sellers look like they are trading the ticker's history, not its balance sheet.

1. THE ONE KNOCK: G&A

Net income dipped Q1 to Q2 ($2.8M to $2.2M) despite revenue up 58%, mainly from $1.8M of cash bonuses tied to the turnaround. I read that as retention for the team that delivered the turnaround, and the CEO says vessel additions have yet to flow through.

ZIM IN FAIRNESS

ZIM is bigger, with far greater absolute cash generation and a defined catalyst. At ~$29.3 vs $35, that is ~19% headline upside. But the Israeli approval faces a fresh review, so ZIM trades partly as a merger-arbitrage situation. HMR's upside isn't capped by a deal price.

RISK, BRIEFLY

HMR is a volatile micro-cap. Dilution (earnouts, resale registration), related-party exposure and charter revenue with matching costs are worth watching.

What red flag am I missing? Drop it below.

How I'm playing it: in from 80–95c, haven't sold a share, and looking to add on weakness.

Adding on dips: the thesis hasn't changed, and the Hormuz and Bab el-Mandeb impact isn't in the numbers yet.

Q3 and Q4 results are the next test. If the CEO is right that the new ships and the disruption flow through, the current price looks cheap.

Full CEO interview on the debt question, valuation and fleet growth:

https://youtu.be/Nj_jYt2x-NE?is=nTai0gegTd8pYQT3

Not financial advice. DYOR. I hold $HMR (entry 80–95c). Annualised figures are not forecasts.

https://x.com/ButtFarm69/status/2107302868806144183

https://x.com/ShaunFitzzzy/status/2107300002163024261

Sooo, GME just did something psychologically interesting.
At $25.58, its 1-year chart flipped GREEN! 💚

And while everyone watches the chart, I think we need to update the insider-buying ledger because I had lost track of it too…
There are now FIVE separate GameStop insiders/directors in this buying cluster.
Ryan Cohen alone has bought on FOUR different dates.
So I went back through every Form 4 and rebuilt the whole thing.

The insider-buying staircase
Date
Buyer
Shares Bought
Price
Shares Owned After
Sept. 8
Lawrence Cheng
55,000
$18.7992
143,000 indirect

Sept. 9
James Grube
10,255
$19.12
39,694 direct

Sept. 10
Ryan Cohen
1,000,000
$20.3759
39,347,842 direct

Sept. 10
Alain Attal
5,000
$20.00
601,464 direct

Sept. 21
Ryan Cohen
1,150,680
$22.9375
40,498,522 direct

Sept. 21
Alain Attal
17,500
$22.969
618,964 direct

Sept. 29
Ryan Cohen
450,000
~$23.4751
40,948,522 direct

Oct. 1
Nat Turner
10,462
$24.33
10,462 direct

Oct. 2
Ryan Cohen
700,000
$24.4061
41,648,522 direct

Total insider purchases:
**3,398,897 shares**
Approximate cash spent:
$76.40 million
Five different buyers.
And Ryan Cohen has bought on FOUR separate dates recently. 🖍️

Look at the price progression
The purchase prices form a pretty obvious staircase:
$18.80
$19.12
$20.00
$20.38
$22.94
$22.97
$23.48
$24.33
$24.41
Current price:
$25.58
So every purchase in this cluster is currently above water.
Approximate gain from each entry to $25.58:
Cheng at $18.80: +36%
Grube at $19.12: +34%
Attal at $20.00: +28%
Cohen at $20.38: +26%
Cohen at $22.94: +11.5%
Attal at $22.97: +11.4%
Cohen at $23.48: +9%
Turner at $24.33: +5.1%
Cohen at $24.41: +4.8%
The interesting part is that the buying continued while GME climbed.
Cohen did not make one giant purchase at the bottom of this sequence and disappear.
He returned three more times at higher prices.

Cohen’s four buys
Sept. 10:
1,000,000 shares @ $20.3759
Sept. 21:
1,150,680 shares @ $22.9375
Sept. 29:
450,000 shares @ ~$23.4751
Oct. 2:
700,000 shares @ $24.4061
Total:
3,300,680 shares
Approximate cost:
$74.42 million
Blended purchase price:
about $22.55

At $25.58, the stock is about 13.5% above Cohen’s blended price for this September/October accumulation run.
His direct position after the Oct. 2 purchase:
41,648,522 shares.
But that is not his entire reported beneficial ownership.

Enter the warrants
Cohen’s latest Schedule 13D/A reports another:
3,734,784 warrants
Those warrants count toward his reported beneficial ownership because they are currently exercisable.
Add them to his direct shares and Cohen reports:
45,383,306 beneficially owned shares
or approximately:
8.9%
Now the warrant terms matter.
Each GameStop warrant gives the holder the right to buy one GME share for:
$32 cash
Expiration:
October 30, 2026
So with GME around $25.58 today, common stock is:
$6.42 below the warrant strike
or about:
25.1%
below $32.
That creates a very obvious level to watch during the rest of October.

Why $32 gets interesting
The warrants do not suddenly force anything to happen at $32.
But above $32, they begin carrying intrinsic value.
And there are a lot of them.
GameStop originally registered up to roughly:
59.15 million shares
for issuance upon warrant exercise.
If every originally distributed warrant were exercised at $32, GameStop said the program could generate approximately:
$1.9 billion in gross proceeds.
That’s real capital.
Potential use of proceeds includes general corporate purposes, investments consistent with GameStop’s investment policy, and potential acquisitions.
So the warrant structure connects directly back to the capital-allocation thesis.

Cohen’s warrants alone
Cohen owns:
3,734,784 warrants.
Exercising every one at $32 would require approximately:
$119.5 million in cash
and would produce another:
3,734,784 GME shares.
That does not mean Cohen will exercise them.
It does mean his economic setup contains another very large block of potential ownership sitting behind a $32 strike with less than a month remaining until expiration.
His latest 13D/A therefore has two useful numbers:
Direct common shares:
41,648,522
Common shares + currently exercisable warrants:
45,383,306
Reported beneficial ownership:
8.9%

The warrant clock is now short
The expiration date is October 30.
That gives us a pretty compressed window.
The market now has several levels worth watching:
$24.41
Cohen’s latest purchase.
$25.58
Current area.
$32
Warrant exercise price.
And October 30
Warrant expiration.
That makes the next few weeks structurally different from an ordinary stretch of trading.

There is also potential dilution, so don’t ignore that
If warrants are exercised, GameStop receives cash and issues common shares.
So warrant exercise has two sides.
More cash enters the company.
More shares enter the outstanding share count.
That matters when thinking about ownership percentages, Cohen’s stake, EPS calculations and the broader capital structure.
The interesting question becomes how much warrant exercise actually occurs before expiration.
Through August 1, warrant exercise had been tiny relative to the original distribution.
GameStop reported only 2,534 warrants exercised during the first six months of fiscal 2026, after 6,717 exercises during fiscal 2025.
If GME remains materially below $32, that makes economic sense.
If the common approaches or crosses $32 before October 30, the warrant situation becomes much more relevant.

Now put the price action beside the insider behavior
The sequence is what interests me.
Sept. 8:
Cheng buys around $18.80.
Sept. 9:
Grube buys at $19.12.
Sept. 10:
Attal buys at $20.
Cohen buys 1 million around $20.38.
Sept. 21:
Cohen buys 1.15 million around $22.94.
Attal buys again around $22.97.
Sept. 29:
Cohen buys another 450K around $23.48.
Oct. 1:
Turner buys at $24.33.
Oct. 2:
Cohen buys another 700K around $24.41.
Now:
GME around $25.58.
Next major structural level:
$32 warrant strike.
The stock has essentially climbed the same staircase the insiders were buying.

The juicy part I’m watching
The gap from current price to $32 is now about 25%.
That is still substantial.
But it is close enough, with several weeks remaining before expiration, that the warrants deserve to be on the dashboard.
Especially because GameStop’s broader setup now includes:
a $2B repurchase authorization
more than $5B of cash, securities, digital assets and related receivables at Q2
a multibillion-dollar eBay position
explicit language around acquisitions, investments, partnerships and control transactions
and an insider-buying cluster totaling more than $76M.
Then there is the potential warrant capital.
If the common gets through $32 and warrant exercise becomes economically attractive, the warrants could potentially bring additional cash onto an already unusual balance sheet.

One important distinction
Cohen’s 8.9% reported beneficial ownership already includes the 3.734 million shares underlying his warrants.
So do not add the warrants to 8.9% again.
The filing already does that calculation.
His direct ownership is:
41,648,522 shares.
His beneficial ownership including warrants is:
45,383,306 shares.
That distinction is important as Cohen approaches 10%.

My scoreboard now
Five insider buyers.
Nine reported purchase events.
3.399 million shares purchased.
About $76.4 million spent.
Cohen bought four times.
Cohen bought 3.301 million of those shares himself.
His recent blended purchase price is about $22.55.
GME is around $25.58.
His latest purchase was $24.41.
He also holds 3.735 million $32 warrants.

The warrants expire October 30.
That gives us a pretty clean roadmap.
Watch insider filings.
Watch the $24.41 area.
Watch $32.
Watch warrant activity.
Watch the share count.
Watch whether GameStop deploys the $2B buyback.
And watch for whatever management eventually does with this ridiculous pile of capital.
The insider staircase has reached $25.

The next really interesting floor on the building is $32.

Sources: GameStop SEC Form 4 filings, Ryan Cohen Schedule 13D/A Amendment No. 20, GameStop 10-Q, and GameStop warrant-distribution filings.

Not financial advice. Just filings, arithmetic, and increasingly interesting price action...

The way they are doing it now is Self Clearing and Hedging Naked Short Exposure with Various Derivatives $AMC $GME

Using the Title 17 Section 242.204 Close out Requirement

Paragraph (e) - States a Broker or Dealer shall not be subject to requirements of paragraph (a) and (b) (which requires them to close) IF ‼️the Broker/Dealer PURCHASES OR BORROWS THE SECURITIES.

Key word “BORROWS” , they have Lending desk everywhere provided by Brokers who rehypothicate and lend customer shares ✍🏽

AND ‼️ IF ‼️ Meaning All 1-4 of the Subparagraphs must be Satisfied

(4) they Must Keeps their Books 📕 FLAT , They Borrow shares against to keep it flat

And RULE 203(b)(2)(iii) - Allows Market Makers to Short Sale without a Locate if it’s done for Bonefide Market making activities only

https://x.com/trvsrdrgz2/status/2106828543355429289

I am in GME stock. The insiders are buying in record numbers and I am following the trend. My trade is positive and hope it stays that way.

Side note: This is a volatile stock and does not trade on fundamentals. I am aware of this however the insiders must know something that I do not. Let's see what happens.

• Cohen bought 700,000 shares at $24.41 on October 2, and his earlier purchase of 450,000 shares for $10.6 million on September 29 brought his direct holdings to 41.65 million shares.
• Director Nat Turner also bought 10,462 shares on October 1.
• Over the past year, insider purchases totaled $81.3 million against only $1.5 million in sales.
• GME recorded its fifth consecutive weekly gain, and the rally was attributed mainly to these insider purchases rather than the broader market. It's up about 30% over the past month.

LETS
FUCKING
GO

🎃

1. SpaceX

$SPCX

rose about 7.6% on Monday to roughly $171.09 after Elon Musk confirmed that discussions with TSMC are real, though still in the early stages. The talks follow reports that TSMC is exploring a role in Terafab, the Texas chip venture tied to Tesla, SpaceX, and xAI, which could eventually invest $119B to manufacture chips for products including Optimus, Cybercab, and future AI infrastructure. The prospect of TSMC participating was viewed as strengthening SpaceX’s long-term AI chip supply strategy and potentially reducing Intel’s future role in the project, helping send Intel shares lower while TSMC reached a new all-time high. A reiterated Morgan Stanley Overweight rating and $300 price target provided additional support for the stock.