HAS Reddit Mentions | ChartExchange

We haven’t had a proper hype date in a while, and frankly I think we deserve one.
So here it goes.
What the fuck has Ryan Cohen actually been doing for the past 6 years?
Closing shitty stores? Sure.
Turning a dying retailer profitable? Sure.
Building a gigantic war chest? Definitely.
In fact, he has personally fucked me out of some absolutely spectacular call gains by selling shares into basically every erection this stock has had since 2021.
And yet here I am.
Because eventually you have to ask the obvious question:
What is all of this actually FOR?
You don’t spend six years cutting costs, killing debt, stacking billions, changing the capital structure, issuing warrants and generally turning the balance sheet into Fort Knox just so you can sell more Pokémon cards.
At some point, the loaded gun gets fired.
And I think September 8–9 is the big daddy of hype dates.
# Exhibit A: RC already spoiled earnings.
On August 31, GameStop randomly decided to give us preliminary Q2 results.
Full earnings?
September 8.
Which raises a very simple question:
Why tell us the numbers 8 days before you’re scheduled to tell us the numbers?
Maybe nothing.
Or maybe Ryan Cohen just cleared the boring shit off the table.
“Here’s earnings. You can stop wondering about that now.”
Because perhaps September 8 is about something else.
# Exhibit B: On THE SAME FUCKING DAY, he killed the VWAP window.
Remember the $1.4B convertible-note exchange?
Part of the share consideration was supposed to be determined using a 35-trading-day VWAP period.
That period was still running.
Then August 31 happens.
GameStop changes the deal.
The floating share calculation gets killed, the equity consideration gets locked down, and $358.4 MILLION gets paid in cash instead of stock.
RC effectively wrote a $358M check to simplify the capital structure before September earnings.
Maybe that’s boring corporate housekeeping.
But doing it on the exact same morning you unexpectedly pre-release earnings?
That’s some awfully enthusiastic housekeeping.
# Exhibit C: PROJECT FUCKING ROCKET 🚀
Here’s my favorite part.
The convertible notes weren’t internally called:
Project Sensible Capital Allocation
or
Project Slightly Improved Retail Margins
The indenture was literally filed under:
# PROJECT ROCKET.
And what did RC just spend hundreds of millions of dollars doing?
Removing those convertible notes from the equation.
Which leaves one particularly hilarious piece of the capital structure sitting there:
GME warrants.
Strike:
# $32.
Expiration:
# October 30.
If those warrants get exercised, GameStop can receive roughly $1.9 BILLION in additional cash.
There is, however, one minor technical requirement:
THE STOCK HAS TO FUCKING GO UP.
# Exhibit D: And then the OCC did something weird.
On July 30, the OCC issued Info Memo #59491 for GMEWS.
The warrants were moved out of normal NSCC settlement and into:
# BROKER-TO-BROKER SETTLEMENT.
And the OCC included this wonderfully reassuring sentence:
“It is not known if and when GMEWS warrants will be eligible for settlement through NSCC again.”
Cool.
Very normal.
Nothing to see here.
Now, broker-to-broker settlement itself does not prove that GameStop is restructuring.
But here’s where my tinfoil starts vibrating.
Look at other recent OCC memos involving this same kind of settlement change and you find them around some pretty significant corporate events:
Mergers.
Going-private transactions.
Exchange changes.
Corporate restructurings.
Changes to the underlying security.
One particularly cohencidental stock had its warrants moved to broker-to-broker settlement a couple months ago.
Weeks later, it announced a new corporate identity, new ticker and new exchange. Ten days after that, the name change became legally effective. Three days later, trading began under the new structure.
Now GMEWS is sitting in the same weird broker-to-broker purgatory—with the OCC explicitly saying it doesn’t know “if and when” they’ll become eligible for NSCC settlement again.
# Exhibit E: Guess when RC created those warrants.
September 9, 2025.
Go look.
GameStop announced the warrant dividend on:
# 9/9.
And now, exactly one year later, earnings falls on:
# 9/8.
So we have:
9/8/26 — Earnings
followed immediately by
9/9/26 — One-year anniversary of the warrant announcement.
Oh, and September 9 is also:
# NATIONAL TEDDY BEAR DAY.
Is that proof of anything?
HELL FUCKING NO
Is it exactly the kind of numerological bullshit this subreddit was built to celebrate?
EX-FUCKING-ACTLY
So let’s review.
Ryan Cohen spent years rebuilding GameStop’s balance sheet.
He accumulated billions.
He created a capital structure literally codenamed PROJECT ROCKET.
He issued $32 warrants on 9/9/25 that can inject another \~$1.9B into GameStop.
Those warrants expire 10/30/26.
Then the OCC moves those warrants to broker-to-broker settlement, with no stated date for their return to NSCC.
And a suspiciously similar recent situation went: broker-to-broker → corporate action.
And then, eight days before that earnings date, GameStop suddenly:
1. Pre-releases earnings.
2. Terminates the floating VWAP mechanics.
3. Locks down the share consideration.
4. Pays $358.4M cash instead of issuing those shares.
And now we arrive at:
# 9/8.
Followed by:
# 9/9.
The anniversary of the warrants.
National Teddy Bear Day.
One year later.
Do I know something is happening?
No.
Have hype dates brutally murdered me before?
Yes.
Will I learn anything from those experiences?
Evidently not.
Because there comes a time in every believer’s life when he must put aside rational thought, stare directly into the tinfoil, and ask:
“What if this stupid shit is actually it?”
Ladies and gentlemen,
the balance sheet is loaded.
The convertibles are getting cleared.
The earnings numbers have already been spoiled.
The warrants are ticking.
The OCC plumbing is doing weird shit.
Project Rocket has shed its ballast.
9/8–9/9.
I am once again ready to be hurt.
# TEDDY TUESDAY. 🚀🧸

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