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Ladies and gentlemen, Michael Bur just put a tweet out talking about GameStop and his old ties with Roaring Kitty. We got some stuff to talk about. Happy Thanksgiving to everybody watching today's video. There is only 20 spots open for the Black Friday sale. 50% off the Discord. That is a top link in the description of the video.
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So, what is going on today? This is going to be a short video because you guys all have to go enjoy the holiday. Scion Asset Management TW uh wrote an email back in 2019 to the board over at GameStop. And long story short, this is basically what the letter has said to GameStop. It said that listen they are a shareholder.
Scion asset scion asset management holds a good chunk of shares 2.75 million shares or approximately of GameStop stock or about 3% of the company and they demand a share buyback. Why do they demand a share buyback? Well, they GameStop's board had 237,600,000 left to repurchase shares and their in quotes in quotes their total volume uh for 11 trading days around August 15th of 2019 was exceeding the entire float traded for the third month in a row.
Um Bur was indicating that there was naked shorting going on or or in yeah intending to kind of tell them listen this buyback will crush short sellers in the company as your company and stock is bleeding off and we see that in 2019 the stock was absolutely bleeding off now given shortly later uh first of all they didn't buy back the float with the remaining amount that Bur wanted them to buy back the float with they didn't do a buyback but given shortly after in 2020 Cohen took over the board.
Okay. But I don't think we knew this or at least I didn't know this that Keith Gil had ties with Michael Bur. And why is this resurfing resurfacing today? Today Bur tweeted, "Remember GME? Bet you did not know this." Okay, so who is he talking to? He's talking to the board again in my opinion. And then he's saying or or or the investors or us.
Bet you did not know this. And then he posts the email that he got from Keith Gil. Keith Gil writing, "Thank you for writing the open letter the to the board of GameStop as a deep value investor. I share your same opinions and the same opinions uh in regards to the board and their inaction on this low low share price." Right?
They are not helping out investors by not buying this. Uh he goes on to state that as you know usually such price action characterizes companies that are on their way to bankruptcy but indeed uh this company is not in ri at risk of bankruptcy. So Roaring Kitty was loading up leaps on the company and he said that this is the ugliest piece of chart that he's ever seen.
Right. So he agreed with Bur. But the the question is why is this resurfacing? I find it very odd that it's resurfacing on November 27th. Exactly. Because November 27th, 2020, Roaring Kitty posted this right with Michael Bur on the picture and then the squeeze right here. So he posted this meme same date, November 27th, 2020.
And now we are back November 27th, 2025 with Bur kind of reminiscing. So why is he reminiscing? There could be a couple of things. Maybe it's a nothing burger, but I just find this very odd and I find it not to be a nothing burger. The fact that someone who is completely over the media right now uh with Nvidia, the largest company, talking back and forth, uh with the guy, this is a lot.
This is this is getting eyes on GameStop. There's going to be headlines possibly. Michael Bur was in talks with Keith Gil, yada yada yada. Now, GameStop is in a position where they could, and in Bur's letter, he specifically states you can buy back or retire 80% of GameStop's outstanding shares. They are in that exact scenario today.
They can do that same thing today. And we know that this chart is looking like a company, well, it's looking a little better than AMC. Give you that. It's looking like a company that, you know, doesn't have a lot of optimism. obviously naked shorts via the option chain or swaps etc right synthetic shares ETFs uh the swaps rolling FTDs right all this other all this other stuff hiding the real short interest kind of talking about a very similar scenario that we saw back then does that tell you what price action is going to come no because it doesn't tell you that a sell-off is going to happen uh what it does tell you is that he could possibly be telling GameStop remember how you didn't do this and basically hinting at listen you're in the same position again.
Roaring Kitty was even talking with him about it and Rory Kitty has been MIA. I think this could all be a hint at GameStop and the current board right now to actually have a little bit of action. Now, yesterday we also had a little bit more tin and Greg posted it should be illegal to put up Christmas decorations before Thanksgiving with the Christmas box and then yeah, we see that and then I posted this the present with that 153 likes and then the gift with the yeah the big green candle right there.
Um overall coming into December things are looking good especially if this market is in turnaround. Okay, there has been um a lot of spot gamma or open interest on GameStop's options chain especially on the call side as well as buy blocks coming in through the darkpool as well as GameStop catching a bid down here at $20 in this buy zone.
Okay, right now we are pointing up. We are pointing up on our squeeze plays and it's looking good and I'm okay with that because we already have become well positioned. I've been talking about adding calls to this and I don't recommend anything. I'm not a financial adviser. I don't get financial advice.
I'm just a guy on YouTube with an opinion. Um Bur also has said that Nvidia's $12 billion spent on stock buyback since 2018 2018 basically did nothing for shareholder value. There's a couple of reasons that he said that in my opinion, but it's interesting to see that the same sort of scenario is coming back.
He's he's saying, "Listen, Nvidia's buybacks don't do anything, but GameStop, you remember when I told you to buy back shares when your your company was doing this, your stock was doing this, and your stock is unfortunately doing quote unquote this once again." Um, yeah. Again, worst case scenario, more unlikely scenario, you could see a crash all the way down to this order block, which I I don't see happening.
I'm just saying that right now. And I know some people are going to be like, "Oh, you called for a move down to $7." No, this is if a market crash occurs of like 30 plus%. And retail has been on highest margin that we have ever seen. So, that can happen very quickly. And we know, I've talked about, if you haven't been watching my videos, the rugpull that could happen on the market.
Don't forget to press the top link. There's 20 spots open. Black Friday all caps, no spaces. Get in the Discord. 50% off. My custom indicator is also linked in the in the description right below that one. And you can also join through Launchpass, but there is not a coupon code if you would prefer joining through Launchpass.
Guys, go enjoy the holiday. That is it. Let me know your thoughts on this in the comments down below. Figured I would pop on and talk about it briefly. I love you all. God bless. Lotterys out.
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