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GameStopE10: Gimme Jimmy GME Weekly Update 1/24/25
52 Plays2 months ago
Trying out a new podcast format where I focus on weekly GME updates in video format. The supporting video can be found on YouTube @MagnifishitShow or on X @MagnifishitPod.
Image Credit: Iuliia Duzhnikova
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Transcript
00:00:00
Speaker
Hey everybody, Manny Cray here. Just wanted to drop a quick update before we go into this episode. I've decided to take this podcast in a different direction. Most of my content going forward will be very bite sized and highly edited and to the point and well thought out. It will be built out in video format first and published to YouTube first before I extract the audio and publish it as a podcast episode.
00:00:25
Speaker
So if you want to see the supporting video with these episodes going forward, please find me on YouTube at Magnificent Show. Otherwise, I will continue to record these with the podcast audience in mind. I didn't really have that in mind when I did this first video. I didn't really know what I was doing. So some of it might not make sense. Again, I'd recommend you just go watch the video. But going forward, you'll have both options.
00:00:50
Speaker
I'm also not going to completely rule out the traditional podcast episode that I have been delivering. It's just not going to be the primary focus going forward. That's all I got for you. I hope you enjoy this new style. Please give me feedback on X at Magnificent Pod or on YouTube again at Magnificent Show. With that, let's start the show.
00:01:13
Speaker
a a a for shit magn shit a for shitn a she for she so a mag for she she a mag shit for shit mag a And now your Gimme Jimmy GME's weekly update.
00:01:42
Speaker
What up everybody, this is Manny Craig, giving you something a little bit different. This is the weekly Gimme Jimmy GME's weekly update. I just thought about this, uh, literally this morning. So I don't know how many more times I'll be able to keep this up. Maybe this is going to be a weekly thing, maybe not. I have no idea, but I thought it'd just be kind of fun. Try something different.
00:02:02
Speaker
And a lot fucking happened this week, so let's dive in. The Sultan-Almadid hype keeps pumping as we finally get an understanding of what his master plan motive might be with the proposed Project Stargate. The proposed Project Stargate only needs a measly $500 billion, dollars but why not just double that to a measly $1 trillion? dollars Besides, what's a measly $500 billion dollars amongst friends?
00:02:25
Speaker
There's not a ton of info out there on Project Stargate. We just know that it would establish AI infrastructure in the US and would make America an AI leader. It would also create hundreds of thousands of jobs, and it would enable creative people, quote unquote, to elevate humanity. And what I think could be notable is this proposed project is already underway in Texas, planning on deploying $100 billion dollars right out of the gates,
00:02:50
Speaker
And of course GameStop headquarters is in Texas, so there might be some opportunity simply because of proximity. But let's temper our expectations. As we can see here, Elon Musk called them out and said they don't even have the money, which, wow, I did not see that coming. But just because they don't have the full half a trillion dollars to start, it doesn't mean this is not going to happen. This is a major proposal. It's very complex. And it takes a while for these big proposals to get the funding.
00:03:19
Speaker
Really, all we can deduce is that this is a very ambitious project. It's very complex. There's gonna be a ton of opportunity along the way, whatever that may mean. So I guess we'll just try to find some clues and draw up some theories, like by looking at this picture with Shengping of Binance and Sultan together. I thought it was interesting that this was posted on LinkedIn, the same exact picture, two years ago, and then it was posted on X just this week. So if there really is anything behind this picture with Cohen and Sultan that says build bigger and better partnerships, then maybe the next natural step after the PSA partnership is to tokenize items like collectibles, in-game items, or even stocks. Hold up, stocks?
00:04:04
Speaker
Yeah, stocks, more to come on that topic when I attempt my first video DD maybe next week. Anyway, there's a lot of theories that we could draft about the potential here, but it doesn't feel like too much of a stretch to think about GME's failed NFT marketplace being revived and built out to include PSA-authenticated physical items that could be traded as NFTs on a Binance-backed platform. And if that's what has been cooking, this could be evidence it's been cooking for over two years, and this could be live sooner than we expect.
00:04:33
Speaker
Shifting gears here, we have Rhys Politics, who has been doing an incredible job tracking this situation, has found that somebody spent $92 million dollars on premiums on super long dated GME puts with the 125 strike price. And I think there's two ways we can look at this. Is it a hedge fund or is it DFE? If it's a hedge fund, they could be using these deep in the money puts to manipulate short interest reporting and creating synthetic shares, which is opposite of how hedge funds can use deep out of the money puts to obscure short positions and reduce margin requirements. But I'm a moron that forgot to put the P in the acronym of deep in the money puts twice right here, so why are you listening to me for? And if it's DFV behind all this, you'll have to double check the math, but he'll essentially be holding a long-term bullish position on GME
00:05:23
Speaker
that has a capped upside of about 10 grand per contract, and he won't lose money unless GME falls deep below $27 per share by the expiration date in January of 2026.
00:05:36
Speaker
This could be a lower risk way in DFE's eyes to acquire more GME in the long run. Now everybody's favorite update of the week, Roaring Kitty, released a meme on January 22nd at 7pm. This of course is, I mean everybody looks forward to this right? So this one has mixed emotions, it's from a very emotional part in Futurama where Fry's dog Seymour is left behind in the present when Fry goes into the future and we see this was a very loyal dog that just sits there and essentially dies waiting for him to return.
00:06:10
Speaker
And just like all DFE memes, there's going to be a lot of interpretations of this. And I think my initial interpretation was I thought of the dog as Chewie, and I thought of Fry as Ryan Cohen, and Fry went into the future and left his dog behind way into the past as GME continues the transformation. And who knows, maybe this relates to deep fucking values, entry and exit out of Chewie, some way, shape or form.
00:06:37
Speaker
But if I was forced to side with a theory it would have to be the more popular one right now where it relates to Michael Burry back in 2020 when he was trying to recall his shares and it took brokers weeks to deliver them back. So maybe something similar is happening to DFV and he's waiting for those shares to come back into his arms kind of just like the Rick James gif.
00:07:00
Speaker
as he's motioning to come back to me in the Chappelle skit. Others have an interpretation that DfV could be a little antsy and he wants Cohen to make a move, make the transformation, make it happen, push the button. But I will remind you and DfV's latest live stream in June of 2024 He indicated this situation requires some patience. It could take another three years. He could see that as an understandable situation. But if we talk five or 10 years, maybe not so much. And that makes a lot of sense to me. This company just got almost $4 billion dollars out of nowhere. They have $4.6 billion dollars right now.
00:07:35
Speaker
So it takes a little while, a little bit of planning to figure out exactly how you want to invest that type of cash accordingly. And finally, in this crazy news packed week for GameStop, we see interest rates increase in Japan, which is the highest they've been for 18 years. And when that happens, it costs more money to borrow money from Japan.
00:07:57
Speaker
So when it costs more money to borrow money from Japan, it's harder to find an investment that has a higher yield than the cost to borrow from Japan. So you think of this unwinding and how free it is to take money from Japan and and invest it in other areas. Now that that is not free money, they have to pay back debt to Japan and unwind their positions elsewhere. And who knows, maybe some of those positions that we'll have to close will be short positions against GME. All that's left to say here is it has been very amusing to report out against Chuckie G's alleged Jean Short obsession. Thanks for watching. Let me know if I should keep doing this. Peace out.