Folks, If you are shorting this stock and there is any truth to takeover rumors, you stand to lose a lot more money after the announcement. Covering now makes more sense than covering later.....longs just hold on!
Long ago GME adapted a "poison pill" clause. To discourage any hositle takeovers the price becomes $100/share.
Dick Fontaine is masterful at creating M/A deals which create shareholder value. Just look at all of the upside when Fontaine aquired Funcoland and Software Etc. I would applaud any move that gets this stock going north of $30
Insiders may not buy on this inside info of a buyout. Against SEC rules.
As far as insider sales check out fontaine and matteo. they got 90k shares each from granted options. they come at no cost but will have to pay tax on the value of the grant. To cover it they sold not the whole 90k each but about 14,000 shares. Sales like this are typical so you can cover your tax liablity on the grant. If they were bearish on GME they would dump the whole 90,000 shares each rather then wait for another day to just get less for them. Check out the insider activity right now and you can verify this. Dangerous to be short here...
Isn't that true of any takeover candidate which one might be shorting at the time of the announcement? Also, you can always buy puts instead of outright shorting and know your exposure without unlimited losses possible.