So many folks (esp. the media) are missing the complete backstory on $GME and how we got here.
This has been simmering for over a year and the story behind it is great. I’ve been tracking this since September and devoured all of the details from the origin through today.
So back in September 2019 (!) some guy named DeepFuckingValue posted this on r/wallstreetbets:
It was just a post about his LEAPS (aka,
Long-Term Equity Anticipation Securities — tl;dr long-dated calls) on GME.
At the time, nobody understood his position at all. The top comment on that post?
"Bid-ask spread on these are ridiculous, good luck getting rid of them" lol.
For the next year, every month about once a month, he posted his "YOLO GME" position. Every month for a year he got made fun of.
I caught wind of this trade back in September 2020, a FULL YEAR after this guy was already holding. I also thought it was weird—the dying retailer?
So I dug into the public quarterly reports of GameStop. Every quarter, public companies are required to release what's called a "10-Q" which is a quarterly report of their financials. You can find them here:
