>Board shake out and poison pill attempt to fend off Galkin's hostile take over plans, $65M in ATM offering
On June 16, 2025, East West Bank foreclosed upon 662,408 common shares of the Company that were previously owned by Tekhill USA LLC (“Tekhill”). Tekhill is affiliated with Mr. Fred Faching Chang, who served on the Company’s board of directors (the “Board”) until his resignation on July 8, 2025.
https://finance.yahoo.com/sec-filing/NEGG/0001213900-25-063935_1474627/

>Galkin still aggresively accumulating, now owns 14.3%, been buying everyday since last Friday
https://www.sec.gov/Archives/edgar/data/1474627/000137647425000631/xslSCHEDULE_13D_X01/primary_doc.xml

>Who's this Galkin guy?
Hubx majority owner, B2B wholesale platform for pc parts with a 400M revenue (might be outdated):
https://tracxn.com/d/companies/hubx/__Z9qL9U8BQufsfzPXH8vnMmtEfKc2eOuQ_VAN-2gZbM0

OG Gamestop beneficiary per Seeking Alpha:
https://seekingalpha.com/news/4464650-newegg-commerce-has-an-active-investor-after-vladimir-galkin-crosses-over-the-10-ownership-threshold

Activist investor on Jetblue since Sept 2024, now seeking an exit after talks with the board fell through:
https://www.travelandtourworld.com/news/article/jetblue-investor-in-the-us-considers-selling-new-stake-amid-airlines-struggles-in-the-us-market/

Activist investor on Innovative Eyewear since Sept 2024:
https://www.investing.com/news/stock-market-news/innovative-eyewear-insider-buys-shares-worth-247m-and-sells-for-188m-93CH-3630383

>Why is he interested in Newegg?
Given his background as an activist investor and his background in pc parts wholesale he could be aiming for a controlling stake in NEGG, possibly to make a reverse merge with Hubx and taking advantage of sinergies between the two, specially since Newegg probably has legacy channels with NVIDIA and AMD (they always have inventory), and Hubx a proven logistics network for B2B commerce. If this the case then this isn't even a squeeze play and the resulting merger a proxy for NVIDIA sales to corporations instead of gamers.

>Short % of float no longer listed on Fintel, probably due to the ATM offering, latest borrow fee 372%, 100% utilization and sustained for the last 5 trading days, shorts lose 1% daily on this play
https://fintel.io/ss/us/negg


>More breadcrumbs
Originally owned 80% of his NW in GME shares before the squeeze, was a literal neighbor of Ryan Cohen:
https://www.crainsnewyork.com/transportation/florida-man-builds-jetblue-stake-gamestop-riches

No options chain, there's only minimal OI on $2.5 strike, now massively ITM. No way MMs can hedge buying pressure effectively (on the flip side no gamma squeeze):
https://finance.yahoo.com/quote/NEGG/options/

Virtually no chatter either on Reddit, Twitter or any major forum.

>pic related
Is the td Ameritrade view of negg July 7th 2021. Anyone with historical market data should be able to trivially verify this. It’s sad that the plumbing of financial markets allows way way way more shares than we’re ever issued to be circulating in markets.

Examples of naked shorted companies:

Dole foods.
Overstock.
Global links (old Bloomberg documentary about it and this case even made it to congress)
Gamestop
Bed bath & Beyond (ongoing chapter 11 looking juicy)

And so many more.

kek baggies

>SRPT

Latest Form 4 from Galkin just dropped:
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=319308900&type=HTML&symbol=NEGG&cdn=cb463811d45c3ec69c327c50ff458707&companyName=Newegg+Commerce+Inc.&formType=4&formDescription=Statement+of+changes+in+beneficial+ownership+of+securities&dateFiled=2025-07-18

All direct buys.

>>60651929
very baste post anon