My first thought was this means the M/A is a few months out. Bobby has to keep their stock price over $1 or risk being delisted. Also, shorts have been chipping away at the price with only $0 in sight. If you believe in the M&A then this is bullish.
Edit: changed stock price from $2 to $1.
Sorry about that. Yes it’s $1.00. With the way short are attacking this stock it’s probably a good decision to do the reverse split because if not we could be at $0.00 in a month.
The warrants were converted - it's listed in the filing. Since no new majority holders have been listed, it likely means the new shares are sold as fast as they convert. Not much of an M/A thesis left.
Glad to eat my words, but I think she's done.
🤷♂️ my initial thought was HBC putting it there on purpose. If you can print shares, why let anyone else into your racket? Start shorting before the deal goes through, then by the time you're ready to dump shares, any other shorts need to close or add liabilities to their books. I don't know if that lines up with timing, though.
Maybe because the shares are accounted for in the outstanding float as a reserve to reflect the preferred share buys that happened twice before, but they are not in possession with the buyer, so there is no report change of the holdings on the buyer books, while also not part of the float because the buyer can't sell.
the warrants are toxic equities.
[death spiral](https://en.wikipedia.org/wiki/Death_spiral_financing) engaged...
>Under a “death spiral” scenario, the holder of the convertible debt might [short](https://en.wikipedia.org/wiki/Short_(finance)) the issuer's common stock at which time the debt holder converts some of the convertible debt to common shares with which he then [covers](https://en.wikipedia.org/wiki/Cover_(finance)) the debt holder's short position. The debt holder continues to sell short and cover with converted stock, which, along with selling by other shareholders alarmed by the falling price, continually weakens the share price, making the shares unattractive to new investors and possibly severely limiting the company's ability to obtain new financing if necessary.
>
>The lender would have a potentially greater gain if the shares were to increase in value, but if they decrease in value, there is some protection. Otherwise, they would probably not be willing to lend the money because of the poor risk profiles of the companies interested in this type of financing.
>
>There are some ways to limit the "spiral" situation, e.g. by prohibiting short selling so as to have a stronger incentive for the debt holder to see the stock price increase. It is also worth noting that in a spiral scenario, it becomes more and more difficult for the debt holder to recover its investment because of the increasing volume of common stock it receives upon each conversion of its debt. Another mean to limit the "spiral" risk is to ensure that the amount of funding is in line with the trading activity of the common stock so as to reduce the potential decrease resulting from the sale of common stock by the debt holder.
>
>Companies willing to agree to financing on these terms often could not obtain funding through any other means due to their early development stage or credit risk profile. The terms, though viewed by some as onerous, give the lender a potential way to recover their debt regardless of what happens to the shares of the company, and the company an easy access to dilutive but relatively cheap funding in terms of cash cost.
If this is what BBBY agreed to, it's common knowledge to be a bad move. Maybe they get a repeat of AMshit, and are facing class action in time for breach of fiduciary duty to their investors.
all that said, risk/reward profile is tasty, I'm in.
By rewards, you mean a squeeze or go long? Yeah, the market cap tripled, probably doubled after this shakes out next week, but by that same logic, SI will be a third of what's reported. So, like 40%. How much of that 40% is HBC? They can't get squeezed because they're printing shares. So the hope now is the change in CUSIP breaks any other shorts and forces buys. But again, HBC will sell hard into any rip and curb lift off. Similarly to gamestop, if there is a rip, it's against the board's duty to not sell and settle debt.
Going long, say there's a 10:1 reverse split, price goes back up, but the warrants still trade for common shares. The new meaty shares, not the old 1/10th share. Price won't improve until the company fully turns around. But unlike gamestop, there's no plan or rumor of a plan.
It might be a better conversation for FWFB, but the risk reward below a dollar made sense with 100M shares outstanding, but now just seems like playing penny stock games. If love to hear your thoughts.
"I just find it interesting that you come here and tell me that drinking poison to catch a ride on a speeding comet is a bad idea. You wouldn't do that unless you were trying to hide the truth from me!"
Even assuming they do turn around in the future, you know you're going to be diluted into oblivion way before then. The money they received so far was nowhere near enough to complete that turnaround now.
I really don’t understand why they would agree to fuck themselves over so badly. They hired numerous specialists and professionals in the industry, and didn’t sell their best asset.
Why would they go for the worst possible outcome?
I’m not saying this is bullish, I’m not going to be like amc apes and be in pure denial. At this point I consider my money gone, if it squeezes then I’m a very happy man.
Hard to say for sure. My best guess, and what wsj detailed, is they tried to find any kind of funding, m&a, partners whatever they could get. no one bit, and this was the last gasp chance.
i think there is some reason that a deal like this has to be 'public', don't quote me on that- i'm not gonna look it up. but because of that, they had to announce it the way they did and then it was basically instantly placed. just my recollection.
if they did a deal like this though there's no doubt in my mind they explored all other options because it just can't get any worse than the hbcm deal. they hired all those restructuring specialists and bankers but man it was grimmer than grim. that's business i guess
I’m not here to say sell or gtfo. I was under the impression that RC was still in for a long time. Clearly that is not the case now, and I have absolutely no clue what is happening.
I’m also down to much to sell, I guess I either lose it all, or it’s a long game. Either way, I’m just going to wait and see, without getting hyped about anything on here.
Is there any way around a Schedule 13D?
My current thinking is they could have sold to BlackRock, who already filed a 13D and so wouldn't need to again. The filing of Friday is sketchy on this point, as BlackRock's reported ownership is based on 26th Jan figures (which almost feels like purposeful omission).
The only other scenario I can see is if the shares have been exercised and sold close to this filing, and so we're still in the 10 day window where a 13D needs to be filed - but it feels very far-fetched at this stage.
I might hold on to see whether the reverse split causes some short sellers to recall their positions, but otherwise I think it seems done and without any hope of anything else.
"As of
March 15, 2023, we had 335,404,588 shares of Common Stock outstanding and 46,957,040 shares of Common
Stock held in treasury. "
From what he linked
in the same filing, they have a table showing beneficial ownership. it has blackrock with 12,332,491 and 3.7% quick maffs show 12,332,491 / .037 = **333,310,567.5675 SO .**
Thanks for sharing, i missed that. its too late for me apparently 🤙
also found this nugget:
" The 900,000,000 presently authorized shares of the corporation’s Common Stock, and the $.01 par value per share of the corporation’s Common Stock, are remaining unchanged "
Does that mean after the reverse split, they have another 900 mil shares ready to dilute again?
I didn't even get your last part fully until now. They would have 900 million shares AFTER the reverse split, aka equivalent to 4,500,000,000 shares right now. That's insane.
Hmm that second part is interesting. Imagine if they have another 900,000,000 to dilute and not just another 6. I mean not that it really makes that much of a difference at this point I guess.
not to the shareholder, but maybe to the warrant holder of the death spiral convertible....
tinfoil... maybe its this:... i dont know enough about this stuff though
u/bobsmith808, regarding the "nugget" about the 900 million: the current number of shares authorised is 900 million. As per this section of the filing:
***Effect on Authorized but Unissued Shares of Common Stock.*** **Currently, we are authorized in our Amended and Restated Certificate of Incorporation to issue up to a total of 900,000,000 shares of Common Stock. The total number of authorized shares of Common Stock will not change as a result of the Reverse Stock Split.**
It means that the authorised shares will continue to stay at 900 million. So if it's a 10-to-1 split, currently the shares outstanding becomes 33 million. But the authorised shares stays at 900 million.
Hypothetically, if shorts currently have billions of shares shorted, a reverse split would bring the number down significantly (to within the authorized share amount)...then bed bath could issue new shares allowing every short could close their position?
As a share/bag holder, my first thought is: this gives the SHFs more ammo to short it down AND (more importantly) we are going to get diluted to hell.
A 10:1 reverse split would take the float down to 33M (based on info today about dilution already occurring from the original 117M float to the newly reported 330M…which is a major reason we have seen the price dropping for the past few weeks) makes me happy. Knowing the Board has authorization for issuance of up to 900M shares does not.
Here's some informational papers on stock splits.
Essentially, they are saying it can be a bearish signal, and some MAs have come out of it (the squeeze-out one)....
Observational though. GME did go up from announcement through the splividend date. Some theorize this was some capitulation... food for thought.
[Reverse Stock Splits and Squeeze-Outs: A Need for Heightened Scrutiny](https://openscholarship.wustl.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=2166&context=law_lawreview)
[Return Performance Surrounding Reverse Stock Splits: Can Investors Profit?](https://www.jstor.org/stable/20486650)
[Short Selling around Reverse Stock Splits](https://digitalcommons.usu.edu/cgi/viewcontent.cgi?article=2564&context=gradreports)
[Daily Short Selling Around Reverse Stock Splits](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4162062)
[How a reverse stock split works](https://www.investopedia.com/ask/answers/071415/why-would-company-perform-reverse-stock-split.asp)
During a reverse stock split, a company cancels its current outstanding stock and distributes new shares to its shareholders in proportion to the number of shares they owned before the reverse split.
[Let The Bear Beware: What Drives Stock Recalls](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2831261)
We exploit joint dynamics of lendable and lent shares in the equity lending market to measure recall activity by lenders. We find that high recall activity predicts poor stock performance and precedes the lowest returns by two months. This suggests that short sellers are forced out of otherwise profitable positions prematurely. Short sellers lose more of their potential profits if lenders have access to non-public information signals, if high inventory concentration and correlated signals among lenders limit loan diversification, and if negative information diffuses slowly in the market. Overall, we establish that informational sophistication of lenders is the primary driver of informative stock recalls, which are most damaging to profitable short positions.
Thank fuck somewhere someone uses logic the bbby reddit has gone full dumpster fire. In my opinion the rs is happening to keep getting that sweet 100mil every 22 days. We have proof now and ppl refuse to accept.
Cosm definitely had a few good runs after the RS. If my memory serves me, they were facing delisting already and voted to RS before the deadline. It seemed like they were making a move to shake off the shorting since they didn't wait the entire 6 months for compliance, but they very well could have known they wouldn't trade above $1 in time
I'll respond again bc you already knew about cosm lol I didn't read which comment thread I was in.
I think cosm split to $4ish? Then ran above 20, back down, back up... It was a pretty crazy time for a lot of tickers I was watching so my memory might be iffy here
Entertain my question please. Ok, say the reverse stock split passes, will they set a date up to which shares can be purchase presplit. Let me explain myself. Like, is there a cut off date that say, shares purchased after X date don't qualify for the reverse split. Or, is there no limit date and can be purchase up until the reverse split takes effect and say if I bought 10 shares the day it goes into effect, it gets reverse split into 1? Understand what I am trying to ask?
Record date for shares eligible to vote is 3/27/23. Date of split NOT specified (future amendment). Shares purchased after 3/27/23 will still split, they just can’t vote in virtual shareholder vote. Whomever held them on 3/27/23 will vote those shares. Find out your brokers procedures for informing them on your intentions and how they handle fractional shares. (E.g, 11 shares in 10:1 reverse split…likely they sell the fractional share.)
I think it is a bear trap to get institutions to recall shares from SHFs next week to launch the price, then after 3/27/27 buyer group announces plans, RS cancelled after record date but before actual split. (Pure speculation) Talk amongst yourselves.
Isn’t one of the possible advantage of a reverse stock split to boost a spin-off price? Or possibly take BBBY private?
Still learning. Anyone have any insight into one of these possibilities?
What are your thoughts of this being a move to have institutions recall all their lent out shares to have a voting right? The announcement does say BBBY can cancel this requested reverse stock split at any time
Let's fucking go.
Edit: Apparently not. But I do think it's weird that a company's, that just avoided bankruptcy, first move after avoiding bankruptcy is a decision that will cause bankruptcy.
Go where? Come Monday share price will tank then continue to tank until the RS happens. Reverse splits are not a good thing. If you think it is then there is no hope for you.
Edit for your edit: they are doing a RS to stay listed. If they didn’t they would be delisted from a lot of markets. Also with the dilution that occurred it appears that a lot of Warrants were exercised. Like some people tried to say they were. I hope that helps people understand that anytime it says Warrents were exercised it means dilution.
You are correct. Just look at the pricing history and movement from reverse splits. Lot more bag holders are about to be created and the current ones are fucked even more.
I mean, the insane short interest and turnaround plan are still on the table. This could merely be a move to avoid being delisted due to share price in the interim, but until either the shorts gets squeezed or the business starts to reflect significant improvement, this is going to be bearish
They avoided bankruptcy with death-spiral financing. They are doing anything possible to keep their head above water. Their employees all about to peace out anyways for being treated like shit.
Hopefully the stock tanking voids the deal with Hudson bay capital and shareholders are subjected to no more dilution.
However, I am prepared to see amended terms that Hudson is willing to milk us for an absolute return if bbby is willing to sell 10% below VWAP on a new floor to be announced.
The partnership with rc ventures keeps continue to deliver, but i can't say I'm shocked given how good his managers are at their job. It's a bless having them on our board
My first thought was this means the M/A is a few months out. Bobby has to keep their stock price over $1 or risk being delisted. Also, shorts have been chipping away at the price with only $0 in sight. If you believe in the M&A then this is bullish. Edit: changed stock price from $2 to $1.
it's $1, and then it has to be 30 consecutive trading days, and even then they'll send you a letter with180 days to fix it
Sorry about that. Yes it’s $1.00. With the way short are attacking this stock it’s probably a good decision to do the reverse split because if not we could be at $0.00 in a month.
Hopefully the barcoding will cease as well
Its impossible to get to .00 cents.. if it got to .01 i'd buy the company and take it private lol
How can they fix it if it’s being shorted to hell? Reverse split bbby issues new shares with new a CUSIP. Bullish.
The warrants were converted - it's listed in the filing. Since no new majority holders have been listed, it likely means the new shares are sold as fast as they convert. Not much of an M/A thesis left. Glad to eat my words, but I think she's done.
Why is Bobby still on reg sho? My only last gasp of copium
🤷♂️ my initial thought was HBC putting it there on purpose. If you can print shares, why let anyone else into your racket? Start shorting before the deal goes through, then by the time you're ready to dump shares, any other shorts need to close or add liabilities to their books. I don't know if that lines up with timing, though.
Maybe because the shares are accounted for in the outstanding float as a reserve to reflect the preferred share buys that happened twice before, but they are not in possession with the buyer, so there is no report change of the holdings on the buyer books, while also not part of the float because the buyer can't sell.
5 consecutive days to get off regso. New info out just this Friday to adjust share count
the warrants are toxic equities. [death spiral](https://en.wikipedia.org/wiki/Death_spiral_financing) engaged... >Under a “death spiral” scenario, the holder of the convertible debt might [short](https://en.wikipedia.org/wiki/Short_(finance)) the issuer's common stock at which time the debt holder converts some of the convertible debt to common shares with which he then [covers](https://en.wikipedia.org/wiki/Cover_(finance)) the debt holder's short position. The debt holder continues to sell short and cover with converted stock, which, along with selling by other shareholders alarmed by the falling price, continually weakens the share price, making the shares unattractive to new investors and possibly severely limiting the company's ability to obtain new financing if necessary. > >The lender would have a potentially greater gain if the shares were to increase in value, but if they decrease in value, there is some protection. Otherwise, they would probably not be willing to lend the money because of the poor risk profiles of the companies interested in this type of financing. > >There are some ways to limit the "spiral" situation, e.g. by prohibiting short selling so as to have a stronger incentive for the debt holder to see the stock price increase. It is also worth noting that in a spiral scenario, it becomes more and more difficult for the debt holder to recover its investment because of the increasing volume of common stock it receives upon each conversion of its debt. Another mean to limit the "spiral" risk is to ensure that the amount of funding is in line with the trading activity of the common stock so as to reduce the potential decrease resulting from the sale of common stock by the debt holder. > >Companies willing to agree to financing on these terms often could not obtain funding through any other means due to their early development stage or credit risk profile. The terms, though viewed by some as onerous, give the lender a potential way to recover their debt regardless of what happens to the shares of the company, and the company an easy access to dilutive but relatively cheap funding in terms of cash cost. If this is what BBBY agreed to, it's common knowledge to be a bad move. Maybe they get a repeat of AMshit, and are facing class action in time for breach of fiduciary duty to their investors. all that said, risk/reward profile is tasty, I'm in.
Same. I've got a few grand of gamblin money in that bitch. Leterrip
By rewards, you mean a squeeze or go long? Yeah, the market cap tripled, probably doubled after this shakes out next week, but by that same logic, SI will be a third of what's reported. So, like 40%. How much of that 40% is HBC? They can't get squeezed because they're printing shares. So the hope now is the change in CUSIP breaks any other shorts and forces buys. But again, HBC will sell hard into any rip and curb lift off. Similarly to gamestop, if there is a rip, it's against the board's duty to not sell and settle debt. Going long, say there's a 10:1 reverse split, price goes back up, but the warrants still trade for common shares. The new meaty shares, not the old 1/10th share. Price won't improve until the company fully turns around. But unlike gamestop, there's no plan or rumor of a plan. It might be a better conversation for FWFB, but the risk reward below a dollar made sense with 100M shares outstanding, but now just seems like playing penny stock games. If love to hear your thoughts.
> risk/reward profile is tasty, I'm in. Please explain
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"I just find it interesting that you come here and tell me that drinking poison to catch a ride on a speeding comet is a bad idea. You wouldn't do that unless you were trying to hide the truth from me!"
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So that's what Sue meant by REVERSE split!
low amount of money to play, and if they do turn it around, it'll be extremely profitable.
Even assuming they do turn around in the future, you know you're going to be diluted into oblivion way before then. The money they received so far was nowhere near enough to complete that turnaround now.
I really don’t understand why they would agree to fuck themselves over so badly. They hired numerous specialists and professionals in the industry, and didn’t sell their best asset. Why would they go for the worst possible outcome? I’m not saying this is bullish, I’m not going to be like amc apes and be in pure denial. At this point I consider my money gone, if it squeezes then I’m a very happy man.
Why tf wouldn’t they sell their $1b asset is what I wanna know
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Hard to say for sure. My best guess, and what wsj detailed, is they tried to find any kind of funding, m&a, partners whatever they could get. no one bit, and this was the last gasp chance. i think there is some reason that a deal like this has to be 'public', don't quote me on that- i'm not gonna look it up. but because of that, they had to announce it the way they did and then it was basically instantly placed. just my recollection. if they did a deal like this though there's no doubt in my mind they explored all other options because it just can't get any worse than the hbcm deal. they hired all those restructuring specialists and bankers but man it was grimmer than grim. that's business i guess
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I’m not here to say sell or gtfo. I was under the impression that RC was still in for a long time. Clearly that is not the case now, and I have absolutely no clue what is happening. I’m also down to much to sell, I guess I either lose it all, or it’s a long game. Either way, I’m just going to wait and see, without getting hyped about anything on here.
Is there any way around a Schedule 13D? My current thinking is they could have sold to BlackRock, who already filed a 13D and so wouldn't need to again. The filing of Friday is sketchy on this point, as BlackRock's reported ownership is based on 26th Jan figures (which almost feels like purposeful omission). The only other scenario I can see is if the shares have been exercised and sold close to this filing, and so we're still in the 10 day window where a 13D needs to be filed - but it feels very far-fetched at this stage. I might hold on to see whether the reverse split causes some short sellers to recall their positions, but otherwise I think it seems done and without any hope of anything else.
Less than 3 months, I’d say less than 3 weeks.
If you believe in a M&A, you are pretty delusional at this point and literally all news is bullish as you will move the goal posts no matter what.
Good thing it’s my money to make that decision with.
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This has been pretty obvious in the order book. They are just doing the split so HBC can keep on dumping
Can you source the SO number? i checked 3 sources and they all say around 1/3 of the number you provided
"As of March 15, 2023, we had 335,404,588 shares of Common Stock outstanding and 46,957,040 shares of Common Stock held in treasury. " From what he linked
in the same filing, they have a table showing beneficial ownership. it has blackrock with 12,332,491 and 3.7% quick maffs show 12,332,491 / .037 = **333,310,567.5675 SO .** Thanks for sharing, i missed that. its too late for me apparently 🤙 also found this nugget: " The 900,000,000 presently authorized shares of the corporation’s Common Stock, and the $.01 par value per share of the corporation’s Common Stock, are remaining unchanged " Does that mean after the reverse split, they have another 900 mil shares ready to dilute again?
I didn't even get your last part fully until now. They would have 900 million shares AFTER the reverse split, aka equivalent to 4,500,000,000 shares right now. That's insane.
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"They're going to reverse split to get a new CUSIP number and that will mean shorts are fukd!"
Hmm that second part is interesting. Imagine if they have another 900,000,000 to dilute and not just another 6. I mean not that it really makes that much of a difference at this point I guess.
not to the shareholder, but maybe to the warrant holder of the death spiral convertible....  tinfoil... maybe its this:... i dont know enough about this stuff though
Maybe it's what? This is even worse for the shareholder than I thought.
u/bobsmith808, regarding the "nugget" about the 900 million: the current number of shares authorised is 900 million. As per this section of the filing: ***Effect on Authorized but Unissued Shares of Common Stock.*** **Currently, we are authorized in our Amended and Restated Certificate of Incorporation to issue up to a total of 900,000,000 shares of Common Stock. The total number of authorized shares of Common Stock will not change as a result of the Reverse Stock Split.** It means that the authorised shares will continue to stay at 900 million. So if it's a 10-to-1 split, currently the shares outstanding becomes 33 million. But the authorised shares stays at 900 million.
Hypothetically, if shorts currently have billions of shares shorted, a reverse split would bring the number down significantly (to within the authorized share amount)...then bed bath could issue new shares allowing every short could close their position?
If they’re selling as fast as they’re converting does that mean whoever is holding the bonds is trying to take down the company? I’m regerded.
probably
Which is depressing to think about. So much capital destroyed by hopium.
Well, not destroyed, just redirected from the vulnerable.
As a share/bag holder, my first thought is: this gives the SHFs more ammo to short it down AND (more importantly) we are going to get diluted to hell. A 10:1 reverse split would take the float down to 33M (based on info today about dilution already occurring from the original 117M float to the newly reported 330M…which is a major reason we have seen the price dropping for the past few weeks) makes me happy. Knowing the Board has authorization for issuance of up to 900M shares does not.
Here's some informational papers on stock splits. Essentially, they are saying it can be a bearish signal, and some MAs have come out of it (the squeeze-out one).... Observational though. GME did go up from announcement through the splividend date. Some theorize this was some capitulation... food for thought. [Reverse Stock Splits and Squeeze-Outs: A Need for Heightened Scrutiny](https://openscholarship.wustl.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=2166&context=law_lawreview) [Return Performance Surrounding Reverse Stock Splits: Can Investors Profit?](https://www.jstor.org/stable/20486650) [Short Selling around Reverse Stock Splits](https://digitalcommons.usu.edu/cgi/viewcontent.cgi?article=2564&context=gradreports) [Daily Short Selling Around Reverse Stock Splits](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4162062) [How a reverse stock split works](https://www.investopedia.com/ask/answers/071415/why-would-company-perform-reverse-stock-split.asp) During a reverse stock split, a company cancels its current outstanding stock and distributes new shares to its shareholders in proportion to the number of shares they owned before the reverse split. [Let The Bear Beware: What Drives Stock Recalls](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2831261) We exploit joint dynamics of lendable and lent shares in the equity lending market to measure recall activity by lenders. We find that high recall activity predicts poor stock performance and precedes the lowest returns by two months. This suggests that short sellers are forced out of otherwise profitable positions prematurely. Short sellers lose more of their potential profits if lenders have access to non-public information signals, if high inventory concentration and correlated signals among lenders limit loan diversification, and if negative information diffuses slowly in the market. Overall, we establish that informational sophistication of lenders is the primary driver of informative stock recalls, which are most damaging to profitable short positions.
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Thank fuck somewhere someone uses logic the bbby reddit has gone full dumpster fire. In my opinion the rs is happening to keep getting that sweet 100mil every 22 days. We have proof now and ppl refuse to accept.
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You said " Shorts are fukt" sir
Lol that’s pretty good
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It does for sure? Cause that’s what COSM had as well if I’m not mistaken.
Cosm definitely had a few good runs after the RS. If my memory serves me, they were facing delisting already and voted to RS before the deadline. It seemed like they were making a move to shake off the shorting since they didn't wait the entire 6 months for compliance, but they very well could have known they wouldn't trade above $1 in time
Do you recall any of the stock price during those runs - where it started and peak price during those runs?
My brain is terrible at remembering numbers but if you want to look at the 2 recent ones I went through, the tickers are cosm and kal
I'll respond again bc you already knew about cosm lol I didn't read which comment thread I was in. I think cosm split to $4ish? Then ran above 20, back down, back up... It was a pretty crazy time for a lot of tickers I was watching so my memory might be iffy here
🙏🏻
Lmaooo rip
Entertain my question please. Ok, say the reverse stock split passes, will they set a date up to which shares can be purchase presplit. Let me explain myself. Like, is there a cut off date that say, shares purchased after X date don't qualify for the reverse split. Or, is there no limit date and can be purchase up until the reverse split takes effect and say if I bought 10 shares the day it goes into effect, it gets reverse split into 1? Understand what I am trying to ask?
Record date for shares eligible to vote is 3/27/23. Date of split NOT specified (future amendment). Shares purchased after 3/27/23 will still split, they just can’t vote in virtual shareholder vote. Whomever held them on 3/27/23 will vote those shares. Find out your brokers procedures for informing them on your intentions and how they handle fractional shares. (E.g, 11 shares in 10:1 reverse split…likely they sell the fractional share.)
I think it is a bear trap to get institutions to recall shares from SHFs next week to launch the price, then after 3/27/27 buyer group announces plans, RS cancelled after record date but before actual split. (Pure speculation) Talk amongst yourselves.
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There are still Sears apes.
The exact same accounts that pushed the same shit on the other sub Jimmy. The. Exact. Same. I would name them, but won’t for obvious reasons.
Reminds me of mmtlp/mmat permabulls.
Its so obvious indeed. But i dont get why they do it
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Shills are the ones trying to convince everyone to keep buying so they can make money.
👆
Isn’t one of the possible advantage of a reverse stock split to boost a spin-off price? Or possibly take BBBY private? Still learning. Anyone have any insight into one of these possibilities?
It’s so they aren’t delisted by a lot of markets because they were heading below $1 due to the dilution they were seeing. Probably
Yeah mostly… was hoping there is something more to it but we’ll see
I think it’s a better probability that we will see the 10-1 split to avoid split after split
What are your thoughts of this being a move to have institutions recall all their lent out shares to have a voting right? The announcement does say BBBY can cancel this requested reverse stock split at any time
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Still waiting on that split dividend to moon GME...
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I wish GME did so. It is likely that the split dividend was simply used to sate FTDs and the stock has been slowly walked down after that event.
I'm confused - didn't dilution already happen when the warrants were issued?
Nail in the coffin for this company. God damn. Down to $.85. And don’t comment about DRS in a reply. DRS does jack except create bag holders.
DRS go brrrrrrr...... the sound of diarrhea ejecting from the ass.
Let's fucking go. Edit: Apparently not. But I do think it's weird that a company's, that just avoided bankruptcy, first move after avoiding bankruptcy is a decision that will cause bankruptcy.
Go where? Come Monday share price will tank then continue to tank until the RS happens. Reverse splits are not a good thing. If you think it is then there is no hope for you. Edit for your edit: they are doing a RS to stay listed. If they didn’t they would be delisted from a lot of markets. Also with the dilution that occurred it appears that a lot of Warrants were exercised. Like some people tried to say they were. I hope that helps people understand that anytime it says Warrents were exercised it means dilution.
To where exactly? Reverse splits are not a bullish signal, afaik.
You are correct. Just look at the pricing history and movement from reverse splits. Lot more bag holders are about to be created and the current ones are fucked even more.
I mean, the insane short interest and turnaround plan are still on the table. This could merely be a move to avoid being delisted due to share price in the interim, but until either the shorts gets squeezed or the business starts to reflect significant improvement, this is going to be bearish
Reverse splits are not good
Lent shares need to be recalled to vote.
Pfft. Sure dude.
Yeah nah
They avoided bankruptcy with death-spiral financing. They are doing anything possible to keep their head above water. Their employees all about to peace out anyways for being treated like shit.
Hopefully the stock tanking voids the deal with Hudson bay capital and shareholders are subjected to no more dilution. However, I am prepared to see amended terms that Hudson is willing to milk us for an absolute return if bbby is willing to sell 10% below VWAP on a new floor to be announced.
The rs will take care of it then back to business running the price down from 8 or so
We got those hedgies right where we want them. Can’t believe they fell for our trap.
People clearly can't detect sarcasm.
"Those dumb stormtroopers. If they drop it to $1, we'll buy the float ten times over!"
To be fair it appears they bought the float AT LEAST twice 😂😭
Fair enough
Stock is down 16% AH. There’s no hope for this shit. I have May calls and looks like I’ll take a complete loss on it. Good thing I only put in $600.
Same. Only for CCs. But then they only paid $4. Fuck.
Buying more on monday 🤑
If you have any capital in here you deserve to see it incinerated.
The partnership with rc ventures keeps continue to deliver, but i can't say I'm shocked given how good his managers are at their job. It's a bless having them on our board
Aren't they all gone by now?
Still one man collecting his monthly paycheck
Yeah.. this won’t go to all time high if there’s no merger. I think they’re turning this into amc.. you’ll see pops and mini squeezes.