Been seeing two different narratives popping up recently:

1. The warrants should be extended

2. It would be bullish for the warrants to expire worthless, because that eliminates the dilution overhang.

Some decent arguments on both sides. I personally didn't know what to think so I went digging through the Cat's May 2024 tweetstorm playbook.

Wanted to see if there was anything related to/regarding our current warrant situation, so started with this tweet:

Pretty obviously alluding to the warrant situation. 10:1

Didn't really pay a ton of attention to this tweet when it was originally posted so this time I watched the entire thing again, and what stuck out to me was how he changed the color of the people to green, and the band on the hats from blue to red. So looks like a red headband, which is obviously his signature.

This led to something that started bugging me...where had I seen those hats again? Oh yeah, the Kansas City Shuffle tweet

DFV's "nom de plum" always posts on National Cat Day. What day is that again?

And the warrants expire when? The next day? That's a hell of a coincidence.

Maybe I'm way off base, but this feels like it's all coming together

With that being said:

I’ve been tracking GameStop and Teddy Holdings' trademark activity through the USPTO, and something interesting just happened. On October 15, 2026, Teddy Holdings LLC's newest TEDDY.COM trademark application (Serial #99677755) was marked DEAD/ABANDONED after apparently failing to respond to a USPTO office action. What's interesting is that this application was only filed on March 2, 2026, and specifically covered an online marketplace connecting buyers and sellers. So why would Teddy file a new marketplace trademark in 2026, only to let it lapse seven months later?

Here's where it gets interesting: Teddy already has two registered marketplace trademarks that remain active. TEDDY.COM (Serial #90189726), registered June 1, 2021, and TEDDY (Serial #90881318), registered September 6, 2022, both cover online marketplace services. Teddy has also previously abandoned applications covering toys, clothing, and downloadable books while maintaining registrations for publishing and marketplace services. This raises some questions. Was the newer application simply redundant? Was there a change in business strategy? Could Teddy be reorganizing its intellectual property ahead of something larger? We don't know, but it's worth watching, especially given Ryan Cohen's history with Teddy and GameStop.

One more interesting coincidence: GameStop's POWER PACKS trademark (Serial #99287610) was officially registered on October 6, 2026, covering online collectible trading-card marketplaces and simulated digital pack-opening experiences. So within roughly nine days, GameStop secured a marketplace-related trademark registration while Teddy's newer marketplace application was abandoned. I'm not suggesting this proves a merger, acquisition, or transfer of assets, because there's currently no verified evidence of that. But the timing is interesting, and I'll be watching for USPTO assignments, revival petitions, new filings, or corporate ownership changes involving Teddy Holdings and GameStop.

So I'm watching the A pomp interview with RC and he said he wants to learn Chinese because there a lot of Chinese peeps.

Then I just got curious and googled EBay's footprint in China.

It says " eBay’s current footprint in China is entirely focused on outbound cross-border trade (CBT) rather than domestic e-commerce. While eBay famously failed to conquer China's consumer-to-consumer (C2C) market in the 2000s and exited domestic retail operations by 2007, the country remains vital to its global ecosystem as a massive sourcing hub for international sellers "

According to the Gemini googling ai thing.

This is a HUGE vector of availability internationally.

RC will buy EBay and succeed in China.

Population: China has roughly 1.41 billion people, while the United States has about 349 million people—meaning China has over 4 times the population of the U.S.

eBay will become 2.5 X the size it is.

We win.

https://finance.yahoo.com/technology/ai/articles/gamestop-ceo-ryan-cohen-warns-233015289.html

Here’s the article so you don’t have to click

GameStop Corp. CEO Ryan Cohenwarned that humans could become so frustrated by increasingly capable machines that they attack robots, potentially triggering a man-versus-machine conflict that he speculated could even become World War III.

A 'Man Versus Machine' Fight
Speaking with entrepreneur and investor Anthony Pompliano at the Silvia Investor Summit on Wednesday, Cohen said he does not expect machines to attack people first.
The risk, he said, is that humans get "so fed up by how productive and how much smarter the robots are than us" that they end up attacking the machines, which then attack back.

Jobs, Demand and 'Utility'
Cohen's bigger worry is the economy.
He said the pace of technological change leaves humans with "very little utility," and high unemployment would weigh on consumer demand, creating "a domino effect that is not good."
For desk jobs, "the machine is far superior," and robots are "probably less than a few years away" from beating people at physical work too, he added.

Other Leaders Raise the Alarm
JPMorgan Chase & Co. CEO Jamie Dimon, speaking at The Economic Club of Chicago on Wednesday, compared AI to the Industrial Revolution but said it is moving far faster, "more like a tsunami."
He cautioned that agents authorized to make payments would need customers' bank codes, without knowing if they "are going to act properly on your behalf and they may not."

Demis Hassabis, chair of Alphabet Inc.'s Google DeepMind, called attacks involving AI agents "early warning shots" that could become major incidents within the next couple of years without stronger security.
A Lancet Commission assessment last week identified malicious use of AI and nuclear conflict as the two threats with 'extinction-potential' by 2100, while stressing that the likelihood of either remains low.

I think there’s a good chance Ryan extends the warrants and I don’t think people fully understand what that would do or why he might want to.

People this weekend keep referring to the warrants as an “overhang” because of the potential dilution. But I think they’re missing a much bigger part of what issuing these warrants actually accomplished.

If someone is LONG warrants the correct delta hedge is to SHORT GME.

If someone is SHORT warrants the correct delta hedge is to go LONG GME.

I think a LOT of people purchased additional warrants, meaning hedge funds, market makers etc may be sitting on substantial short warrant exposure.

But more importantly, one thing issuing the warrants did was lock in a separate warrant obligation for anyone short GME through the distribution.

Even if someone closes a GME short they had open, they still have to satisfy the warrant obligation created by that original short. Closing the GME short doesn’t absolve them of the warrants they owed. They are two separate obligations.

Dilution of GME doesn’t absolve that warrant obligation either.

And it’s not just people who were short shares.
Look at the GME1 options chain.
Those contracts were adjusted to include 100 shares of GME AND 10 warrants. Anyone short those adjusted calls who gets assigned has to deliver the warrants as well as the shares.

What about swaps?
Depending on the terms of the swap, the warrant distribution also has to be accounted for through the swap’s economic adjustments or settlement obligations.
So this wasn’t just a dividend that gave shareholders some warrants. It created warrant exposure across existing stock shorts, adjusted options, and potentially swaps as well.
And that exposure doesn’t just disappear because someone closes their original GME position.
Now look at what has been happening as we approach expiration.

As theta expires and the warrants move further out of the money, their delta generally decreases.

Anyone SHORT warrants who was hedging by holding GME can start unwinding that hedge.

Meaning they SELL GME. (The convertible bond conversation probably accelerated this)

As GME dipped from the convertible conversion arb, the warrants would also become further out of the money and those short warrant positions could unhedge even more.

So you potentially have selling from convertible arb AND selling from people unwinding long GME hedges against short warrants.

Now what happens if Ryan extends expiration?

Well guess what.
The warrants get more time value and their delta generally increases again while they’re out of the money.

Anyone SHORT warrants who had been unwinding their long GME hedge now has to start BUYING GME again if they want to remain delta neutral. That buying pushes GME higher.

As GME approaches $32, warrant delta can increase further, requiring even more GME buying.

You could potentially have the entire process reverse simply because Ryan extended expiration.

Section 4.06 of the warrant agreement explicitly allows GameStop to extend the expiration date without warrant holder consent.

So why would RC necessarily want to “clear the overhang” by letting them expire? What exactly is the benefit?

If they expire worthless, GameStop doesn’t receive the nearly $1.9 billion it could raise from exercising all the original warrants. The opportunity to raise that capital disappears along with the warrants. The warrant short exposure that was created by the distribution also eventually gets resolved or expires.And any potential future buying pressure from traders short warrants hedging their positions disappears with it.

Meanwhile, if RC extends them, he gives GME more time to get above $32, preserves the potential capital raise, and causes traders with short warrant exposure to increase their long GME hedges.

I tell you what… I’ve been lurking a long time in this sub and the bets sub. Lately I’ve seen a lot more GME talk in the bets sub. Gives me Return of the Jedi vibes. Lots of apes scattered throughout the galaxy but all of us know exactly why we’re here.

Recently a post was made about people largest holding by ticket, GME had tons of individual threads

can’t stop what’s coming

🍻

The Power to the Players Act (announced by representative Ritchie Torres on October 15th) is proposed to protect consumer ownership of digital games, including the ability to transfer and resell them. It would mean when purchasing a digital video game instead of buying a license to use that product you would actually own the digital product. The act also proposes that publishers provide a functional offline mode for online-connected games before shutting down their supporting servers.

Aside from the obvious use of a well known Gamestop catch phrase, I've yet to see much discussion of this potential bill mentioned here. Here's some information on why I personally think the Power to the Players Act could be a huge opportunity for GameStop.

I understand with the growth of the collectables industry and recent corporate investments, video games are not currently Gamestops largest revenue generator, but to me and many others the two are associated synonymously. GameStop built its traditional business around buying used games from customers and reselling them for a profit. Imagine if they could bring that same model to digital games.

If the Power To The Players Act passes as proposed we will live in a world where you have the ability to finish a game, sell it through GameStop's (theoretical) digital marketplace, and someone else buys it at a discount. GameStop collects a fee or takes a margin on the transaction, without having to handle physical inventory or shipping.

Clearly there are still significant hurdles and I don't anticipate the legislation to pass without significant pushback from publishers and platform holders. In my opinion this wouldn't be a quick cash cow for gamestop but rather offer a way for them to maintain/reclaim their "video game identity" while increasing revenue. There's also no confirmation that GameStop is developing such a marketplace and I'm sure they wouldn't be the only corporation interested in doing so. This is all fairly new news, but legislation that makes digital games transferable could open up a market that GameStop is uniquely familiar with.

In all reality I feel like this isn't just about GameStop either, North Americans seem to lack consumer protections rights compared to our European counterparts and this seems like a rare opportunity to help protect consumers against corporate greed. I know it's still in its early stages but I personally want to voice my support for the Power To The Players Act. I've sent a thank you message to Ritchie Torres through the contact form on his website and encourage others to share the news of this potentially game changing act with the gaming community as well as their local government representatives.

Interested to hear what everyone thinks.

I have seen several people post that GameStop will announce something between 10 and 30 days before expiration, and I can't help feeling this is misleading. Some will say it's just semantics, but I think words matter.

What they actually said was this "GameStop will
also issue at least one public press release providing a reminder of the expiration date,
between 10 and 30 days prior to the scheduled expiration date.

That's it, not promises of some big announcement that's worth a "watch party" (yes that's something I saw suggested earlier today). Just a reminder that they are expiring.

Today when I opened my YT app RK's first vid was in my stuff I might like in my dashboard...Come again?! Wtf...

First time YT is presenting his video in my feed.

First time YT is presenting his video in my feed.

FIrst time YT is presenting his video in my feed.

And things are getting spicy 🌶️

I’m just gonna HODL and see what happens