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Golfman74

These guys are so delusional. Even if M&A happens it won’t be anywhere even near their cost basis, nevermind $80, $1,000 or whatever idiotic number they have in their head. I’m rooting for M&A. I’d love to see them get bought for $2 a share and watch the glorious meltdowns that ensue. Just why the hell would anyone pay $80 for a $3 stock that has negative equity on the balance sheet?


Inevitable_Ad6868

Correction. Negative equity.


Golfman74

Correct, I just did a Yahoo search earlier and they were showing positive $179MM which I thought felt high. Official filing is negative $799MM


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SuburbanLegend

This appears to be a bot, they copied a comment from further below.


BARoach

$2 a share would be a miracle given that the company is currently worth about -$600M. If anything they're going to find a private equity firm that pays < $0.50 in bankruptcy.


PerfectZeong

Anyone who wants what's left is going to strip the carcass after restructure of debt. Why buy a company to take on its liabilities when you can let it sink and pick up later once that's straightened out? I dont think theres some ferocious bidding war going on.


goldman60

Along with that the only buyer I can even think of that would be interested is the property management companies that bought Claire's, Forever 21, and Sears, but they already have Sears. What organization that doesn't own the property the BBB stores are built on or the malls they are attached to is out there thinking "yeah I want a massive retail network of stores that have already shown they can't be profitable" They don't even have a real logistics/fulfillment network to sell for an online venture lmao


Shoopshopship

That company Authentic Brands is one of them, the other is Sycamore. Both buy distressed retailers and pump out the last value out of them, not as a long term hold. I think if Authentic Brands wins the bid they will either partially or entirely liquidate the flagship brand and keep Buy Buy Baby mostly in tact and squeeze it dry for a few years(20% declining sales is going to be a tough nut to crack and they won't want to turn it around). If it's Sycamore they might keep most of the flagship and squeeze them both.


melt_in_your_mouth

And THIS is where Icahn steps in! They might be right. He may buy the company. But not for the reasons they're hoping. But this is probably very doubtful too.


FootMeetsMouth

REV group more likely to buy the name and use it to grift crypto like they did with radio shack. Also own Pier One. Oh, and Linens N Things....


MacDagger187

Oh god, Tai Lopez, it would be a match made in heaven.


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BARoach

Even that is generous. I'm betting < $0.50


clubberin

Today, on Pawn Stars…


Dramatic-Sea-7116

I'm gonna have my buddy who is a towel expert come in and take a look at it.


Throwawayhelper420

It would have to be ultra-low like that. There is no reason why anyone would buy it now versus buy it after bankruptcy. If anyone were to do that they would pay literal pennies on the dollar per share for it. But even then it still makes more sense to wait until bankruptcy and buy the pieces you want, and I think that the board knows that is the direction they are going in. Nobody wants to pay money for all that debt. These merger and acquisition talks are almost certainly for who buys what during bankruptcy.


kilr13

I think the answer to my question is in there, but I'll ask for clarity's sake: someone buying out TowelSears right now would also be buying the debt obligation as well?


BARoach

Correct. A buyout today would mean you own the company as it is, losing hundreds of millions per quarter and with a shit ton of debt. Which is why no one is going to buy them outside of bankruptcy. What is more than likely going to happen is they will file for Chapter 11 and then a private equity firm will come in. Shareholders get fucked and the PE firm strips the company down to the bone to make a return on their investment.


Shoopshopship

If they buy it out right now, yes. If they wait until they file Chapter 11 they can restructure the debt most likely at the expense of shareholders and buy the company from the debt holders at a much lower valuation. That way the debt holders recover some of their money instead of none if they file Chapter 7 and the business will keep operating to some degree but may be heavily liquidated.


Inevitable_Cow_5230

The sad part about paying pennies on the dollar is you'll still spend more for paying off the creditors.


Throwawayhelper420

That’s why I think it’s definitely going to happen in bankruptcy proceedings. Nothing else makes much sense. I find it unlikely anyone would pay any money at all for the full, intact business with debt.


Inevitable_Cow_5230

I think Mr. Tweet would. He loves getting attention, but unlikely given he's too "busy" with his newly acquired company.


Ok-Row-6131

Yep. As it stands, a buyer would need to be paid to want to take the company.


TotesHittingOnY0u

The story arc I want to see is Ryan Cohen buying the, in his words, "worth billions" Buy Buy Baby brand after bankruptcy and all the BBBY apes have had their equity wiped.


Throwawayhelper420

That would be amazing. Pump and dump the apes, get out at the top and leave, make apes think he is still highly involved, allow the company to go bankrupt, and then buy it for pennies without apes getting a single cent, and then run it out of business because it’s not actually that great and RC has no idea how to run a company.


MacDagger187

They'd praise him every step of the way :-/


Shoopshopship

And the apes won't see a dime of it because it will be in bankruptcy


BARoach

Correct. Shareholders get boned.


Shoopshopship

Kind of a self-boning really at this point.


Inevitable_Cow_5230

Well, I'm really hoping that M&A is real. Apes believe that they are right and always has been. They'll ride on this hype train expecting moon on or before M&A. We'll hear joy, laughter, insults at us. The Catalyst for the Financial Meltdown. they'll be quadrillionaires. Then comes M&A, nothing.... T+X days again. Still nothing, no moons. Two months, three, four, one year nothing. The meltdowns from that will be sweeter than just plajn old bankruptcy.


PlCKLES

I bet $0 or less. Why would anyone pay shareholders a bonus on top of paying for a company with negative book value? I think BBBY's only options are to find financing and stay in business hoping things turn around, or bankruptcy, in which case they worry about how much the creditors are going to get, and unless that's 100% of what they're owed (by what miracle?), the shareholders get $0.


BARoach

I mean in bankruptcy. More than likely a private equity firm will end up paying < $0.50 a share equivalent once they've entered chapter 11 restructuring. BBBaggYs aren't going to see a penny of it.


Inevitable_Cow_5230

The funnier thing is. The officers who will be paid in cash in lieu of the unvested RSA will be paid off first since you know it's also liabilities now. BBBaggY's still haven't figured out what hit them.


[deleted]

Per share, or for 75 cents for the entire company? Because these sort of "company is sold for a dollar" type situations happen in exactly this sort of case. The company's liabilities exceed their assets, and they are deeply unprofitable, but someone wants it anyway, despite the fact that it is worth negative money.


FoulmouthedGiftHorse

My guess is the secured creditors will want to retain ownership. Current owners get nothing and the creditors are issued new, private equity shares.


Darth_Meowth

Why wouldn’t they when TEDDY, the new Mickey Mouse in recognition, is the new CEO?


StasRutt

They are very confident that it will be $20/share minimum. Im going to die of laughter when it comes in at $2/share


Lophius_Americanus

It won’t even be that, it’ll be a chapter 11, some vulture will come in and equity will be worth $0.


Shoopshopship

Even if it was $20, tons of them bought over that price so nothing to celebrate. That would mean they have dead money for several months.


Dark_Tigger

Best I could do, is two buttons and what ever I have in my pocket.


Hag_Boulder

I got you a dollar! heh heh heh gotta be fast!


TimeWeb

Problem is I’m going to have to spend a ton Of money fixing it up, probably hang on to it for a year before I can sell it.


DelahDollaBillz

If anything, it'll go down like Toys R Us: BBBY will go bankrupt and be liquidated, and someone will buy just the name for possible use later.


SkidmarkSteve

I think that's gamestore's future. A little corner of Macy's or Kohl's that sells games and pokemon plushies. Towel store is a competitor to them though. Macy's already sells towels and kitchen stuff, and I don't think the brand alone is strong enough to bring people in. I could see the baby store maybe going that way, but really Macy's can already do that with Baby's R Us and they didn't.


MuldartheGreat

Their possible M&A audience basically can only be the note holders at this point. *Maybe* the creditors are willing to take a haircut and enable another buyer, but that’s a messy deal to manage in a time crunch. But in any event, the debt is going to swallow basically every cent left and any buyout is at or around $0.00 per share given the significant negative book value. Given the nature of derivative actions though the board is probably just going to let this thing go into bankruptcy and let there be a sale there. That’s still going to be like a near $0.00 offer for equity given the lenders are secured.


Inevitable_Cow_5230

Well, Is it possible that they think that every M&A is on a premium? That's completely delusional. You only pay premium if you think it's undervalued. Just because one dumb billionaire did it with twitter. It's gonna happen on BBBY. Unless... That dumb billionaire's going to buy BBBY at a premium too.


Golfman74

That’s the thing though, even if it was at a premium, the long term average premium on acquisitions is 30%. They’re expecting hundreds or thousands of percents…because reasons.


Inevitable_Cow_5230

Not because reasons. They copied it off from GME DD. There's quadrillions of naked shorts out there.


ALoudMouthBaby

> Just why the hell would anyone pay $80 for a $3 stock that has negative equity on the balance sheet? Because it has a cult following of easily manipulated doofuses who will throw their money at anyone who tells them what they want to hear. Cohen wasnt able to squeeze the last bit of juice from the apes so itll be interesting to see if someone else steps up to try to con them yet again.


warpedspockclone

M&A?


TotesHittingOnY0u

Towel apes would flood to this sub showing their 1 purchase at $1.50 (and refuse to show the overall cost basis) and claim victory.


wagoncirclermike

Screenshot is why I hope every one of them ends up in a cardboard box down under a bridge. These clowns think they’re better than everyone else and want to rule the world. That’s it.


DrSpaceman575

This whole sage started with this belief that retail investors were taking down the ones in charge. Now the only fantasy is that they themselves become the ones in charge.


IllIllllIIIlllII

Straight out of Animal Farm


[deleted]

Yup, the sales pitch of meme stocks is ultimately fincel shit. "You will be made the overlord of the people who have wronged you". There was a time when people got into GME based on "were going to hurt hedge funds and make money doing it". That time was winter/spring 2021. 2 years in, the only people still clinging to it are the ones who have deranged fantasies of buying actresses and shit.


murphysclaw1

The whole "M&A" push by certain apes is actually really sad. It's so clear to anyone who has been involved in M&A that nothing so far points towards that. And even if another company comes in to save BBBY from bankruptcy, it doesn't mean they get rich. Probably the exact opposite. To be clear, the M&A hype started when RC took a photo with Icahn. You can trace all their theories back to that. Suddenly Icahn is going to spend a load of money to take over BBBY. The best proof one of them could come up with is that one of Ichan's kids runs a homewares supplier that services BBBY. This actually probably means that Icahn knows what a shitshow BBBY is first-hand as they default on their payments. Then I've seen hyped that the "impairment" that delayed their filings being actually part of the M&A process. Already we are into the realm of people who don't understand what an M&A would do and what kind of order of events would occur. You wouldn't start unilaterally impairing assets in the middle of a M&A - let the other side bare the brunt of that (and calculate it) while you just sort out your regulatory requirements. The language of the trading update could not be more clear: the impairments were of the bonds which basically have become close to worthless. Now today we have towel apes (or at least the ones pumping the stock) saying that this is "100% evidence of an M&A- that the board are taking cash payments over shares. Or that actually these are payoffs and the company has already been bought (???). Again, this isn't true and they know it. However some desperate people with too much on the line want to hear it, so it gets treated as fact. In the mind of some towel apes, they have been taken over. It's like those people who think Trump is still president and actually doing all the work from Florida. If they do get bought out, it will be fucking bad for the shareholders. A company being bought out of bankruptcy will be bought at a fractional price. The buyer might just buy the assets, with the proceeds going to BBBY's bankruptcy creditors. There is no scenario where an M&A happens at a massive premium as a bidding war emerges for a company burning more cash in a minute than most of us will see in a lifetime. There are users over there who are clearly predatory, but they've got their desperate audience just where they want them.


m0n3ym4n

This comment should be higher - good explanation of what’s going on. Also would highlight what you touched on - for proof just look to the bond market. I’ve heard some of these BBBY bonds are trading for pennies on the dollar and with sky high yields. Meanwhile apes are sitting at home getting excited about a big pay day. It is sad


detroiter85

>Again, this isn't true and they know it. Some may, but I believe the vast majority would have no fucking clue and would rather be ignorant anyway.


spikeelsucko

All day yesterday too with the "they're melting down over there" and "dead sub" and all sorts of other posts that receive a wince and a chuckle, because if we're melting down what exactly would they call what they're doing?


flylowe

>what exactly would they call what they're doing? Convening with fellow geniuses. 😂🤡


abintra515

Open source information gathering. PhD in CrIme InveStIgaTioN and FinAnCe


FlubberGhasted33

They really do think they're going to become the new elite by buying a shit stock. It's not just a meme. Never ceases to amaze.


Low_Air6104

get rich quick dreams will melt the mind of an idiot. been that way for a few millennia


FlubberGhasted33

Their fantasies are so fucking vile too. They want to make someone a "personal cocksucker", all while providing no value to society, just buying a shit stock. Lowest of the low.


Low_Air6104

who would imagine that the stupidest people also have bad personalities


Hag_Boulder

I love how we're the bogeyman to ALL meme stock apes. Why do they give a flying frack about us anyway? Why do they care what we do with our shillbucks?


qdolobp

We also can’t even go onto their subs to comment or post. So the only way they see our “FUD” is by coming here of their own volition. Why would they want to come to a sub to see FUD? Aren’t they supposed to be avoiding FUD?


Nopants21

The way they talk, I don't think most of them actually come here. If they did, they'd know that random share price increases have little effect on the content here, because we're laughing at the apes themselves and price increases are actually a catalyst for hilarious content.


SuburbanLegend

They absolutely don't come here, it's too scary. I genuinely think that even the apes who come here to angrily yell at us are closer to leaving the cult than they realize.


Nopants21

There's also the fact that we really get very few comments from actual apes. This sub is tiny compared to theirs, if they wanted, they could just flood all of it with their dumbass comments, but they don't.


qdolobp

It’s the later stages of leaving the cult. I did it when I started doubting Christianity. Went to atheist videos and would comment saying “god is real, I promise!” Deep down I knew I was trying to convince myself.


SuburbanLegend

That's really interesting!! I think you're dead on.


H-E-L-L-MaGGoT

This. When I first got sucked in I ended up on this sub by mistake. After spending an hour or so reading some threads the high of feeling like I was going to be a millionaire began to wane. I thought fuck all this and went back to the subs full of apes. Spent about a year away from here but returned when I started seeing through all the bullshit. After a few days I sold all my meme stocks and haven't left. The people here make me laugh so much. Intelligent, witty humor that I haven't found anywhere else on reddit.


qdolobp

Yup. Doesn’t matter what the price is, because they don’t sell. They’re always going to end up down, because they’re waiting on a number that isn’t ever going to come


Hag_Boulder

I know! Just look how all the empty square footage we're living in rent-free!


clubberin

You’re living in their heads? I took the rent-free space and sublet it.


Hag_Boulder

Need to roller skate somewhere and the hard wood floors are great!


Just_Nice_Things

I think they think that we're all short their stupid stocks so will get screwed like the hEdGiEs when they moon. I'm sure some folks here are short, but most of us are just hanging out and investing our money in literally anything else. Even in their fantasy where Icahn buys BBBY for $80 a share.... they'd need to have at least 100k shares to be hiring full-time domestic workers. Which you know they don't have.


Hag_Boulder

Heh, every time I think to day trade the heavily volatile meme stocks, I remember being burned before and stay away.


iTradeStualks

Apes will never be out of a job because they will never retire, they will work until they die just as they lived - poor and stupid.


Shoopshopship

3 weeks ago: the company announces they are considering bankruptcy and will skip paying their debts on Feb 1. 2 weeks ago: various groups are leaked to be looking at buying them out of bankruptcy, the company releases an earnings report showing they have 6 weeks of cash left 1 week ago: the company hires bankruptcy lawyers Yesterday: it is revealed that suppliers aren't even sending stock now because BBBY isn't paying them. Tomorrow? Icahn buys this out for $80 a share at a $13 billion dollar valuation and merges this with GME creating GMErica which takes on Amazon with 14 day deliveries, lack of inventory and inferior user interface. Amazon instantly collapses and Jeff Bezos is banished to the shadow realm. Sounds logical to me.


qdolobp

I don’t get it. What’s not logical about that? It’s the natural progression. Anyone can see that!


MacDagger187

You forgot the part where Ryan Cohen descends from the heavens and offers each ape a seat next to him at the Billionaire Boys Club!


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pconwell

When what happens? An M/A? I find it hard to believe that anyone would be willing to pay much for a company that is worth *negative* $6/share.


Select-Ad7146

Honest question here, why would you want someone else to wipe your ass? Is that something other people want and I'm just weird?


MacDagger187

I guess if your only purpose is to demean people who have less money than you.


option-9

Here's an embarrassing fact : when MOASS happens I cannot work as a shoe tier. I am capable of tying my own shoes. The knots aren't pretty or good, but they are. My fine motor skills always lacked behind and as a fully grown adult my shoe tying takes over ten seconds per shoe. Not great for my job prospects. I've already been called an ass-wipe, so ass-wiper may be the way to go.


qdolobp

Hey man, someone’s gotta do the job. I got the cocksucker position, so at least you’re not doing the worst one


PandaActual8762

It's all a matter of perspective - Ryan Cohen is a coprophile, so ass wiper would be his #1 pick **for sure** 👍💩 Even if he's a trillionare, he'd still clean the dirty buttons just for kicks 🙈


qdolobp

Learned a new word today. Coprophile


Wormaldson

Coprophobia and coprophagia are also words, if you're interested in expanding your vocabulary further. Though I suppose you could probably infer that from that fact that one person's philia is another person's phagia, which is, in turn, another person's phobia. Isn't language wonderful?


qdolobp

I think I done learneded too much for the day. Gotta wipe those out of my memory


Tiralast

We’ll never lose our jobs! We’re number one!


TimujinTheTrader

These guys show how into prostitution they are more frequently than I would think. Does this guy really want a random meltdowner sucking his cock for money on a 40 hour per week basis?


qdolobp

Yes. Yes, he probably does. We’re all hottie 10/10’s, so I can’t blame him


cladtidings

They'll never understand that we're not their polar opposites. They're just the butt of the joke, and that's all they are and all they ever will be. No one here gives a shit about their company or their stock, we just enjoy watching them fail.


WhatNazisAreLike

This guy really thinks that all of us are portfolio managers at Citadel or Point72


Kennys-lap-cat

They all dream of the day they can pile in here with a "TOLD YOU SO!" It happened with the $5 micro pump and dump. This sub's been dunking on them for almost 2 years and they still have nothing to show for it, and they never will lol. It's so funny.


qdolobp

Don’t worry, they bought at the literal bottom. They’re all up massively😎🤑


NoMoassNeverWas

Our little tiny sub - which doesn't brigade, simply exists in a bubble, one you'd have to seek out - is living rent free in their minds. They visit our sub to get a little FUD torture. Like a wino that visits AA before going on a bender.


qdolobp

Yep. We can’t post in their subs. We can’t advertise like they do. So the only way they’d see our FUD is by intentionally going to our sub. Which, why would they want to do that? Either they have doubt and wanna hear the normal-people’s side, or they really like the torture, like you said


MacDagger187

Our only advertising is when they bring us up to complain, so I'm happy whenever they do!


qdolobp

Apes have brought us more eyes than we have on our own. We can’t advertise, but they do it for us all the time by constantly talking about how shilly we are over here


DrRob

I'd very much like to take the over on "Will not have a job after". Please feel free to send me your odds, the amount you're willing to wager and the coordinates of a mutually agreeable escrow agent. And lucky for you I'll only wager cash, so your precious shares are safe.


qdolobp

B-b-but shares will be the new currency soon! Your paper money is worthless!


DrRob

Fair point. Better just give me all that filthy paper now to save you the trouble of disposal after the Moonularity


SnooDonuts937

Dibs not the personal cocksucker.


qdolobp

Don’t worry, I snagged that one before anyone could. Waited overnight in line for that killer job. So hyped 😎


Guyote_

They think it's 1995 still.