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eyeoftheotter

Apes own GameStop and why voting matters more than ever (based on new Q1 2021 data)

DD 👨‍🔬

Hello Apes, I've compiled the latest insider and institutional ownership data for Q1 2021. TL;DR is at the end.

Shares Outstanding

GameStop had 70,031,650 shares outstanding as of 1Apr2021 and currently has 73,531,650 shares outstanding after their 3.5 M share ATM offering. We will use the 73,531,650 number for this calculation.

https://preview.redd.it/brdo2tnmyqz61.png?width=996&format=png&auto=webp&s=f7d9d103b83289deb3fb2ed2ec211eede00c9a6a

Insider Ownership

I compiled the 'Form 4' filings from all GameStop insiders. Insider ownership is 11,416,297 to 12,318,561 shares (15.5 - 16.8% of shares outstanding). It's likely that Jim Bell and Frank Hamlin sold their shares after they left GameStop. And since they are no longer insiders, they are not required to report their positions. We will use the 11,416,297 number for this calculation.

https://preview.redd.it/ewvmu1eoyqz61.png?width=899&format=png&auto=webp&s=29619f8b6892208a7e9dd87ce90dedf2be43f5a5

Institutional Ownership

I compiled the latest SEC filings for 350+ institutions in a separate post. Institutions own 26.2 M shares (35.6% of shares outstanding) as of 31Mar2021. Institutions sold 53.3 M shares in Q1 2021, and it looks like many of them paper handed during the Jan mini-squeeze.

Insider + Institutional = (11.4 M + 26.2 M + 9.0 M) / 73.5 M shares outstanding = 63.4%

Note: This calculation does not use the 10-20 M shares in ETF’s and mutual funds. I believe these are already counted in the institutional shares which is why Blackrock, Vanguard, State Street, and Fidelity are so high. The one exception is Fidelity where there are over 9 M shares in ETF's/mutual funds but Fidelity reported that they sold 9 M shares. That's why I have a placeholder 9 M shares in the calculation above for the top 3 Fidelity funds (FDMLX, FLPSX, FNDX) and will update when their # of shares gets updated.

Retail Ownership

Many apes have posts on estimating retail ownership. Here are just ten good DD's:

Edit: Here are some new ones:

If retail ownership is:

  • 50 M, then there are 100.1 M shares (real + synthetic), apes own 50.0% of GameStop
  • 100 M, then there are 150.1 M shares (real + synthetic), apes own 66.6% of GameStop
  • 150 M, then there are 200.1 M shares (real + synthetic), apes own 75.0% of GameStop
  • Edit: I added an extra 3.5 M shares to the totals for GME's new share offering, it was originally based on 70 M shares. I also deleted the short interest calculation as it was causing confusion since I was doing it a different way.

TL;DR: Apes likely own 50+% of GameStop and we won't know how much until the proxy vote. Most whales are not in the rocket, they paper handed ~53 M shares in January. While this means that the short interest is not as high as we estimated before, it's also good news since apes control the rocket and how high it goes. We don't need to worry about whales paper handing early during the MOASS. And shorts have to get our shares if they want to cover. That's why they've spent the past 5 months running a FUD campaign against us to make us think we're powerless and small. And that's why it's very important for apes to VOTE in the shareholders meeting! Everyone's vote is needed to expose the abusive short selling. Even apes with X shares matter. 🦧🦍🦧💪

🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀

As always, none of this is financial advice. I just like the stock. Do your own DD before making investment decisions.

Data compiled from:

Posted May 17, 2021, 9:20 PM UTC · edited

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