SimpleJack

Every great magic trick consists of three parts or acts. The first part is called "The Pledge". The magician shows you something ordinary: a deck of cards, a warrant dividend or an ape. He shows you this object. Perhaps he asks you to read the warrant indenture to see if it is indeed real, unaltered, normal. But of course... it probably isn't. The second act is called "The Turn". The magician takes the ordinary financial instrument and makes it do something extraordinary. Now you're looking for the secret... but you won't find it, because of course you're not really looking. You don't really want to know. You don’t like to read. Especially SEC filings. But you wouldn't clap yet. Because making something disappear isn't enough; you have to bring it back. That's why every magic trick has a third act, the hardest part, the part we call "The Prestige"

Can’t wait to hear about other partnerships that will integrate with the x everything app. I have been thinking about a specific potential integration🤔

👀👀@gamestop @collectors @X @XMoney

2/35 ELI5. GameStop still has a large pile of dated cash, a separate pile of eBay stock, leftover convertible bonds, and an unused $2 billion permission to buy its own shares. If it walks away from buying eBay, it is no longer trying to spend tens of billions of dollars and a huge block of new GME stock on that target. If it sells the eBay shares it already owns, that sale can turn an investment into cash. That cash is not sitting in the cash line today. If it then pays willing bondholders in cash and cancels those bonds, some of those holders may have been short GME against the bonds. Closing a real short can mean buying stock. It can also mean delivering shares they already have. If the company then actually spends the buyback, it becomes another buyer at the same time. Other people may buy too. Other people may refuse to sell. That collision can be powerful. It is not automatic. Each gate can fail.

1/35 Walking away from buying eBay and selling the eBay shares GameStop already owns are two different moves. One frees capacity. The other can raise cash. The rest of the $GME sequence only works if those two stay distinct. Full thread.