$GameStop(GME)$

Wed earnings report

👉 Net sales up 8

👉 Cash on hand $1B, no debt

👉 Hardware sales down, software and merchandise sales up

👉 Inventory $917.6M, up from $570.9M in Q1' 21. Similar to Q4' 21 -> $915M

👉 12.7M DRS shares

Thurs shareholders meeting

✅ All votes passed, all board directors approved

✅ Maximum authorized shares increased to 1B

✅ Board has not made a decision on share split yet

For the whole week, we also saw many major brokerages increasing cost to borrow rates!

And this morning (SG time), Ryan Cohen tweeted "Power to the Players" where at around the same timing GameStop filed their form 8K under:

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On June 2, 2022, the Company’s stockholders approved an amendment (the “Charter Amendment”) to the Company’s Third Amended and Restated Certificate of Incorporation to increase the number of authorized shares of the Company’s Class A Common Stock (the “Common Stock”) to 1,000,000,000. The Charter Amendment became effective upon its filing with the Secretary of State of the State of Delaware on June 3, 2022.

#MOASS is coming. #BuckleUp

https://gamestop.gcs-web.com/node/19786/html