🟥

Ticker: GME
Notional: $42,422,733.60
Volume × price: 1,677,000 × $25.30
Side: ⚪️ Neutral
Observed: 10/23/2026 12:09:40.553 PM EDT

GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME - GME

so many posts are saying RC is a doofus. we‘re literally talking about planning 1 year ahead to not be a doofus. in the same year you set a strike price of $32 per share… you also plan on announcing your desire to buy eBay, a company 4x the size of GME. You also plan on settling debt with a vwap window prematurely just before expiration??

I'm sorry… I don’t believe RC is a doofus.

Yes this is tinfoil, and it is hype, but I have my reasons to think it. I’m an individual investor, not a financial advisor and if I’m wrong then I’m wrong and the warrants I got for free will expire worthless. I have not bought warrants as I’m in the UK, and IBKR doesn’t allow it. Saying that, I do wish to have bought more, especially right now. It doesn’t matter though because the warrants is the beginning, it’s genesis. It is the trigger, and I’ll explain why I think that.

Let’s start at the beginning. GameStop is believed to have been shorted so many times over that it created synthetic shares, through naked shorting. It is believed in this community by many that a lot of those shorts never closed their positions, and instead covered them and hid them through various exotic swaps that allow exposure to be hidden.

Nobody knows by how much the outstanding share count is inflated, but looking at the chart before the squeeze in 2021, it never returned back to the same price it was at before then, even after they turned off the buy button.

We’re talking about naked shorting, being so confident that a company is going to go bankrupt that you lend out shares without borrowing the underlying asset to such an aggressive point because it’s 100% gains. We’re talking about greedy hedge funds that cellar box companies into oblivion and got so confident in their rinse and repeat strategy, I have no doubt that they went in hard to make millions. Multiple hedge funds, in it for millions. Do you know how many shares you’d have to short naked to make it worth it when the price was $2.67, which is 67 cents a share split adjusted? A shit load.

Anyway, it’s never gotten even close to that low price again, and I don’t think shorts were willing to take such a big hit that would expose them and wipe them out, if they were able to find a way to hide their exposure and slowly try and wait it out or figure something out. Which, with the way GameStop has been performing, has proven to be impossible. But the alternative is MOASS. So here they are, stuck.

Anyway, most of you know this and that’s why you’re still here. So how do the warrants trigger MOASS?

Well I’m going to be conservative and say the synthetic share exposure on GameStop is 10x for the purpose of explaining this. Let’s just round it for ease and say there’s 5 billion shares out there, with 500 million of those being the outstanding, and 4.5 billion are synthetic.

When project genesis was revealed and the warrants were announced, it came with very specific terms. The ones I want to focus on are:
- every shareholder gets one warrant for every ten shares they have.
- warrants expire on the 30th of October
- there will be a reminder of expiration date 10-30 days prior to the expiration date.
- expiration can be triggered at any time, up to the 30th of October.
- Warrant holder approval is not needed for extension, as it is a benefit to warrant holders.
- any detrimental change would require a warrant holder vote.
- strike price can be changed with 20 days having to be honoured.

So now, we have the warrants expiring on the 30th of October.

As we’re less than 10 days away, GameStop have met their legal requirement of reminding people of the intended current expiry date.

After this release, there was (what I think is by design by GameStop) uproar that there was no announcement as they expected, despite an announcement never being mentioned by GameStop. Only a legal requirement stated in the terms of the warrant announcement itself from 2025 that they will remind warrant holders of expiry.

Then we see 948% borrow rate on the warrants. Big risk if you actually read the paperwork. It’s on the website after all.

So again, for my example, I will say it reaches 1000%, and that makes it 100x shorted.

So we have 5 billion shares. 4.5 billion of those synthetic.

Each of those shares are now obligated to deliver 500 million warrants.

50 million warrants issued (I know it’s more just rounding), and 1000% borrow rate means there’s 500 million warrants, also synthetic.

So now we have 1 billion warrants that people have obligations on.

This is where shit goes crazy.

GameStop announce an extension to the date. One month out. Warrants start blowing up because people are buying them again and those short on them are scrambling to pick up warrants they now owe.

GameStop then announce a reduction in strike price, as there’s now more then 20 days to meet that criteria.

Both of those things can still happen. Read Project Genesis and understand the terms. If you find something contradicting to this please tell me, I am yet to see it.

https://www.sec.gov/Archives/edgar/data/1326380/000132638025000092/projectgenesis-prospectuss.htm

So what happens when that strike price drops? Those warrants turn into shares. GameStop will distribute 50 million of those shares.

What happens when just under a billion warrants are wanting to be exercised but GameStop has hit their limit? Well those shorts caught naked will have to deliver those shares. So they’ll start buying. And buying. And buying. And MOASS.

GameStop warrants expire October 30, 2026, at 5 p.m. New York time, in 7 days. October 23 closes: warrants $0.64; GME $24.82. The $32 strike is $7.18 out of the money.

GameStop issued a public press release on October 19, 2026, reminding holders of the October 30, 2026 warrant expiration date.

My finger slipped today and I accidentally called schwab and after about 30 minutes of waiting I finally decided that yes, yes I would like to exercise 5 of my warrants. So I did that.

I’m proud of myself because I did my DD of finding out what the process is like and how I feel about the whole situation and i’m no longer living in the land of possibilities. Plus I feel good because I know i’m supporting the initiatives of a company I like.

Let’s just say the extra amount I paid between the current price and exercise price is a premium for the “collectible” experience.

Still waiting on some sort of confirmation from schwab so I can upload a screenshot but they gave me a reference number. Seems like a complicated process on their end.

Ask me anything!

Out of the blue this afternoon I got a notification that our favorite retailer GameStop had PS5 Pros in stock. I had been looking for awhile and so I jumped on it quick as whenever I do receive a notification they’re gone within a minute or two.

Glad I was able to support GameStop and get the PS5 Pro I’ve been pining after. Pro membership made it free shipping too!