2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price. Check out my DD below:
​
Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

Hi all,
To celebrate the return of Undervalued to the Reddit community, I decided to put together a quick DD and post it on a stock that I have had my eye on for a little while. It's still a "work-in-progress" and I may potentially update it later on Reddit with more information or detail if I have time at some point in the future.
If you have any opinions, thoughts, or additional information, please share it. Positive. Negative. Neutral. All information is helpful and informative to the community. (I thought the feedback received from my first DD posted to this sub was quite helpful and I look forward to what you have to say.)
Thank you to u/BuyLowSellNever for turning the sub back on; allowing us to share and discuss ideas with the broader community in a thoughtful and respectful manner. Best wishes. - LA

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

2/9/21 Update: Additional info posted here

2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price.
Check out my DD below:
Funko (FNKO)
Share Price (02/01/21) : $12.90
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

2/9/21 Update: Additional info posted here

Hi everyone.
Funko is a great stock that I believe will do well this year. Internet search traffic for Funko has been increasing and is at all-time highs over the last couple of months. The company is selling more of their toys directly to customers through their e-commerce shop (which allows them to capture higher retail revenues than wholesale revenues). And demand for collectibles and toys continues to be strong.
Here is a DD I wrote on the company below. I would love to get your thoughts.

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

Rachel Schneider
ENG 477
Date 1/11/2021
Marsha Blackburn
A Writing Portfolio
I want to write my own fiction stories one day; I have had a book or two swimming around in my head so I will put the computer to good use and get that typed out one of these days. In this instance I chose my 5 stories and even though one is a marketing inquiry I had fun writing it, so here are my things and some background some of them.
Resume: It is a basic one because my photo ones were not particularly good, and this is an honest resume besides the ones I made for class and I did fudge on those.
Cover letter: I made up the cover letter though there is a penguin Books but it is always fun to use your imagination!
Hike with Drew: I got the concept from a Writer’s Digest and entered it into a contes I never got a response but good practice.
Short Story Vegas: Was one I did for another class but in here I changed it and the story was much better the second time.
Marketing Flyer: This was fun to do those are stock photos of the dogs and squeaky toys, but I like Pit Bulls and dog toys are fun as well.
Scott part 1-This is a story I am working on with another writer, warning its very sexy and some naughty words are in there as well.
Writing Samples: I made these three samples up one day because as I have looked for writing work, I have seen people want a sample of your work, so I came up with these.
Rachel
Schneider
​
3867 Houghton Ave Riverside CA 92501 📷
951-743-8911 📷
[email protected] 📷
Rachel Schneider 📷
Rachel7Tori-Twitter 📷
📷
​
Objective
To get a career going in the fiction/short story writing industry my imagination can run with any scenario and to write is to live.
📷
​
Education
Bachelor of Arts in English | Grand Canyon University
2017 – 2021
Took 15 different writing courses, creative writing and even two fun marketing classes all to polish up my craft. Carried a 3.0 GPA and did the courses all online as well.
No Degree Obtained | Riverside Community College
June 1994 – December 1996
Took these college courses but did not finish got 32 Units of Child Development Courses though which is what I was going for
📷
​
Experience
Cafeteria Worker 1
2008 Currently Employed.
Cook, Prep, serve food in a middle school setting, also clean, count inventory and do next day prep, cash handling and POS register experience.
Bell Ringer | Salvation Army
November 2007 – December 2007
Rang bell and collected donations for the salvation Army in front of various stores during the holiday season.
📷
​
Skills
Food handlers Card
CPR First Aid certified
​
Grammar Proficiency
Spelling Proficiency
Can work from home
📷
​
Activities
Have good use of social media and can help update or bring in new followers with my creative writing side. Have a Reddit account as well with 30 stories up on that site. Can speak a little Spanish and Hebrew as well.
951-743-8911
[email protected]
3867 Houghton Ave Riverside CA 92501
​

Rachel Schneider

Writer

​
​

Penguin Books

​

Dear JENNIFER MCGREGOR,

1/21/2021
Jennifer McGregor
Fiction Publisher
4587 Tropicana Rd.
Las Vegas NV 89102
​
I have included my resume for the short story writer for young adult novels. It has been a few years, but I currently work in a middle school, so I do see all the angst and sass that goes with being a young teen. I do hope my writing samples can help me move to the top of the list. I look forward to working with Penguin Books and letting kids know being a teen is hard at first, but it does not last forever.
Sincerely,
Rachel Schneider
Rachel Schneider
3867 Houghton Ave
Riverside CA 92501
It had been a long cold winter Drew and I could not get out for a morning hike till today. Being 75 degrees, we did not have to wear many layers. He is an extremely sweet inquisitive boy who always asks a lot of questions. Why does moss grow on the north side of trees” he asks? Its times like this when it would be nice to have my husband here, but he is overseas where the work is. “well, it’s not just the north side it’s on the shadier side because that is where the moisture is.”
On we went looking at snails on the ground watching the deer pass by along a ridge. Being quiet as to not startle them. “Mom he whispered it’s a bunny den they are coming out for food, he leaves a few carrot and lettuce scraps from last night’s dinner. I walked down the path and spotted some glorious Blue Jays and a Downey Woodpecker. “Listen Drew the woodpecker is getting the bugs out of the trees.” My sweet Drew was staring at the Bunnies, they are cute and fluffy after all. We followed our path down further after the bunnies went back to the den.
The skies were getting cloudy, so I hoped the rain was not going to come back. Though the weather report said there was a chance. My little explorer with his school uniform on was undeterred, I wish I could wear shorts on a 75 day and not be cold, it is always nice to be young. Walking along our path we spot some squirrels running in circles around the tree. “Why do the chase each other like that” Drew asks. “Maybe it’s a game for them like ring around the Rosie.”
On we trek to our favorite stream where the deer family are taking their drinks. I tell Drew we cannot skip stones right now we do not want to scare them. We look through the grass for more of his favorite bugs, saw some worms just below the dirt by a tree. Looking up we see a big spider web being made between two branches. The crows were making their calls in the distance. We are finally able to skip our stones in the stream. He gets some great skips going, and we collect some new rocks for our little garden back home.
Walking past the stream we climb up the embankment and up along the ridge where we see a Fox off in the distance. He or she walks the opposite direction we are going so it is a relief we can continue to the clearing. Where there are more bugs, rocks, and Bunnies. We pass the Deer family as they run up the hill to were, they mostly frolic or maybe they live up there. We stop for a snack of Apples, Almonds, and some cheese sticks. When we were finished Drew put a couple of slices in his pocket to feed the Bunnies, I am sure.
“Mommy we’re getting to the clearing now we can see the Bunnies and the last time Daddy, and I were here I got some neat rocks too.” Drew told ne enthusiastically, I did love his passion for nature, though again my husband is much better at the nature stuff. I am a pastry Chef ask me about desserts and I am your woman, about why moss grows on trees and hello Google. Since Dad is unavailable, I step in and let him explore and see the world outside of the house and off the screen.
It is just another half mile and it is on to the clearing. He starts to pull me hand a little harder I know he is excited. We pass under the tree I glance up and see the Fox again. Then we stop and see “Daddy home……
Name: Rachel Schneider
Course: ENG 361
Date: 4/14/2020
Instructor: Debbie Graves
One Week In Las Vegas
The countdown started Friday at 2pm I got the week off from this thing I call a job (just over broke). The car was packed, it was time to hit the road. The traffic was average and climbing the Cajon Pass was not that bad. I stopped in Baker to have my favorite meal at Bob’s Big Boy, the chili spaghetti, no onions. After making my way back on the highway the traffic picked up going out of Baker, through to Primm and Stateline. I had to stop for gas at Whiskey Pete’s, so I also went in and got some snack goodies. My favorite trail mix and some cheese potato chips because vending machines are too expensive. The road was beckoning so off I went, traveling through Jean is always nice, not much to see. A prison, a few remaining casinos, some outbuildings, and a truck stop. There slogan was always fun 40 smiles closer than Vegas. You can get bored so be sure to pack some music you can have your own car concert. “I’ll face it with a grin I’m never giving in, on with the show” (Show Must Go on by Queen)
Finally, the Vegas skyline is in sight, the lights are not on yet, but they will be needing to navigate around the strip. I do say a few words the terrible drivers. This vacation was so needed my job is crazy, my kids are older now and do not need mom around anymore. Off they went to grandma’s house and I booked the week at the Delano, it is attached to the Mandalay bay so perfect access to all the fun of the strip, and just enough luxury to not look cheap. Getting the valet to take the car I check into my genuinely nice room I have a great view of the Luxor light (that comes off the top of the hotel) and the Excalibur. Now off to indulge in that genuinely nice bathtub and get some overdue reading done. My bathroom with a view has the Luxor light and that is the brightest light on the Vegas strip it comes right out of the top of the Pyramid shaped hotel. A brightness of 42.3 billion candela, you could read a paper from 10 miles straight up if you wanted to.
Once I was well soaked and finished with my chapters it was time to find something to eat besides my snack foods. After cruising the room service options, I settled on some Mexican food of chorizo and eggs with nice corn tortillas. That hit the spot so with the extra energy it was time to get out for a stroll of the property. The indoor pool is nice but small and I want to soak up the sunshine and get some exercise so I shall hit the outdoor pool tomorrow. Back in the lobby I grab those ads for things to do in the city so I can plan out the rest of my trip. There are thousands of things to do in Vegas. Do not be disappointed if you do not get everything done, that is what the next trip is for. I have a beautiful week and I want to have a good time and not have to wait for anybody, I can do what I want. I got those and cruised up through the lobby and toward the casino on my way there I saw a sign for a food and wine festival. With that guy Zac from the travel channel. Thinking hmm I did not know he was interested in food or wine. I went down and found my favorite penny slot game Lucky cat. After 15 minutes I came out putting 20 in and winning 500, so I called it a night and went to the bar to catch a hockey game and grab a fun fruity drink (I like tequila sunrise, (Tequila, grenadine, and cranberry juice). As I am rooting for the Golden Knights (local Vegas hockey team) I looked over to my left and there was Zac from the travel channel, and he likes hockey too this is awesome, and I am trying not to be a fan girl.
The game was in intermission and the Knights were winning so it was time for a new fruity drink so this time I turned around to get back to the bar and bumped right into Zac, boy was my face red. After some apologies and an offer to buy my next fruity drink (a Strawberry Daiquiri) it was a yes and I spilled that I was a fan. He told me he does have an interest in food and wine not just chasing ghosts with his crew. We had some great conversation and when the game came back on, we both sat in the booth cheering the golden knights to their victory. Now I am buzzed and standing up was going to be fun, but Zac was a true gentleman and helped me to my feet. He offered to buy me dinner. The Taco Hut was a good place the tortillas were fresh, and the company was so cool. The conversation turned to food, wine, travel, and some stuff about me. The midnight hour rolled around, and Zac had an early morning, so we said goodnight, but he was staying one floor above me, so we agreed to go to the diner in the lobby for breakfast or brunch. At 10am I was enjoying my company and this great stick to your ribs breakfast (scrambled eggs, sausage, hash browns and some great watermelon) The food offerings in Vegas are so varied you can get everything from a hot dog and beer for 1.99 at the Orleans, to a 5-star meal at Caesar’s Palace the buffets are great too. Although sometimes you want a nice sit-down dinner.
The conversation was effortless the attraction was deep. We made plans to see each other again after the food contest he was judging was over. Saying goodbye was a bit hard but the hand holding was sweet and made me feel like a schoolgirl again. After saying goodbye and I did watch him walk into the convention hall I went back to my room to plan out the rest of my day. I chose a tour of the Mob Museum, they say that Vegas was built with Mob money, but it was a Mormon founded town that later Hollywood discovered. Then many people in Hollywood who were well connected (such as East Coast mobsters) financed Bugsy Segal to build the Flamingo Hotel. As I was putting my shoes on, I got a knock on the room door and as I opened it, I got some flowers (pink roses) and an all-access pass to the food and wine festival courtesy of Zac. Let us just say the Mob Museum can wait for later I got to go to a food and wine festival and spend the rest of the week with Zac. “hi Zac thanks for the flowers it was sweet of you to remember.” He said, “It’s always right to remember a ladies flower preference because that’s the right thing to do.” Smiling the rest of the day I meet other travel channel celebrities and got to taste some great foods and many different wines. The food and wine offerings at the hotels and restaurants are varied, the Las Vegas area have become very international, so the varieties are endless.
The week went by in a blur of food, wine, conversation, and some sweet dates. I never thought I would get over the break-up that happened the week before. Getting a private Vegas tour was something completely special. I did get to see the Mob Museum, Mandalay Bay Fine Art Museum, seven magic mountains, Pinball Hall of fame and a private dinner at the food and wine festival. My days in Vegas were down to one. We had reservations at Rivera right here at the Delano the view is amazing, the food is impressive with Italian and French offers. “I have had a wonderful time this week Zac thank you for mending my broken heart.” He looked at me for a minute and said, “it’s been a pleasure to get to know you and I would not mind visiting your hometown, you always have a reason to come back to Las Vegas. The next food and wine festival is around Christmas, this one will include chocolate.” Hitting the 15 early the next morning I have visions of Christmas, a pass to the food and wine festival, also a brand-new relationship to take back home with me.
The End
When writing a short story, you want to keep it from rambling and have enough details to keep it fresh. When your reader gets into the story you want them to feel like they are there with you, going to the food and wine festival, on that hike through the seven-mountains or touring the mob museum. The details are the thing to see and make sure to watch out for punctuation and common language. An average short story is within 6,00 words or 24 pages. If you wanted too you could go short-short story and that is between 500 and 2,00 words. That comes out to be 6 pages (Minot, Steven Ch. 7 pg. 41), talk about short stories. The story is all your length and style matter as much as how you want it to come into focus.
Minot, Steven and Theil Daniel Three genres the writing of literary pose, poems and plays Ninth edition Pearson Publications 2012
Bouncing Dog Toy Emporium
August 18,2019📷📷
24755 Holly Grove Way
Brookings OR, 97415
Dear Dogs, Rule the World
I am Rachel Schneider from the Bouncing Dog Toy Emporium we make extra bouncy dog toys for our furry friends. We investigated different marketing companies and choose you to do our direct to customer marketing. The way the website is set up the customers can get the product’s directly from you is easier than a multi-level marketing plan. The distribution of Bouncy Dog Toy will be a one level channel, we will provide the toys you market, and we sell them. I would like to get some videos of our company dogs Mac and Stella playing with the toys so you can post on the website. A link for the company can also be included so the consumers know where the toys came from, what they are made of and any other facts about Bouncing Dog Toy Emporium.
Sincerely, Rachel V Schneider
Mac and Stella company dogs and testers 📷
📷 📷📷 📷A sample of our products, our bounciest toys.
Scott’s Story Part 1
I am Scott Thorn, and I am going back to WDU for the first time in 15 years, I went here for a year but after I came out as gay there really were no gay dudes. I am all men but yeah lesbians were all around some BI guys but no real gay dudes. I went back to the mainland and attended Preston University I majored in administration and minored in Literature. I did at one point in my life have a girlfriend and wanted to marry her, but I could not quash the gay lifestyle. That part of my life is over and now the old school offered me a counseling job, have not done this in a while. I get to help students toward there after college career.
I sit here on this boat and keeping an eye on my 75 Triumph I have some nerves, but it is mostly about seeing this place again, so as the boat pulls up, I get my bike going and make a stop at my new on campus apartment. Its west facing because I like sunsets more than sunrise, so I did not know it needed so much work. I have some handy skills but a little at a time. The kitchen is decent and so is the bathroom. The floors will need some polish and the deck needs to be stained, this is a duplex, so I hope the neighbors are quiet. It is furnished and done nicely so I cannot complain too much, but back on the bike to see the Dean.
I get my bike set with the kill switch and walk up the way to the Admin building, I am pretty much the only one dressed. I am wearing my good black jeans and my dress shirt, in my favorite color Maroon. I do remember this place was obsessed with sex so I will stick out wearing clothes, as I enter the building at least more admin people are dressed. Miss Grant the secretary shows me to my new office, its spacious much bigger that my last one at Preston where I shared a cubicle with another person. I have files from past students and current ones, so I started filing them when Dean Kane walks in, booty shorts and a tank top. “Welcome back to WDU Scott, we look forward to seeing you succeed you come very recommended.” I could hardly concentrate because this Dean was hung but I persevered and said, “Thank you sir I look forward to helping young students find there after WDU careers.”
After he left, I had to get my rise to settle then I continued filing and looking through some files. Clarissa Love that was a name that got around even all the way to Preston. I think she does the Jax in the bedroom or something like that. I started looking around and thought I need some life in this office so I asked Miss Grant about decorating and she said I could do what I wanted but no painting, so I went to town and checked out a flea market. I found some pictures of the beaches of Canada, some old homes in the area and a few movie posters from Rocky horror Picture Show (it is my favorite). The flea market said they will deliver to the school tomorrow so I told them I will be there at 9am.
Now with my day done I get to the store to buy some groceries and realize this place uses sextons and I was down to my last few, so now I will need to exchange but thankfully a bank is nearby so I can get some of my mainland money exchanged. I pull up to my new pad off load my few groceries and notice some other tenant left beer in the fridge, talk about luck. I got the beer went to the deck and watched the sunset over the sky. It was going to be new here, but I needed a fresh start after getting dumped and losing the job because my ex was in upper management, never will I do that again. I will find someone who does not work in the school system. After I ate a roast beef and cheddar sandwich for dinner, watched some cooking shows it was time for bed. As I was brushing my teeth, I heard the neighbors having sex. Oh, goody they are not quiet. hope they do not have super energy either. Tomorrow is my first full day and I have decorating to do, fantastic they stopped, that is the thing with us older people we do not fuck like bunnies anymore. As far as I know the neighbors are lesbians so who knows.
Sample 1- If I try my hardest, I could muster up enough courage to ask the prettiest girl in school to prom. I had a suit; bolo tie and I will shine my old boots up. The thing is my courage is not as strong as my best friend Nick, now there is one brave dude who just asked the girl I wanted to go to prom with and of course she said yes. I gather myself close my locker and put on my best smile for them both. Nick and I high five and I hug her, trying to be genuine but it is hard. I head to my Social studies class and sit down next to Megan she looks at me with some concern I tell her what happened, she then asks me to Prom…...
Sample 2-Wishing I did not have to be here I sit at the back of the funeral and think about my old high school principal. I grew up in a small town and everyone knew everyone, we only had one school and you went there for kindergarten through senior year. After my graduation I packed up my old car and headed out to what I thought was the real world. Living in a bigger city only helped spur my loneliness so who says you cannot come home again, well Mom for starters because I abandoned my family, I am not welcome at home ever again (so tired of her drama), so I am staying at Principal Mason’s house yes, the same principal that I am at a funeral for I held her hand as she lay there succumbing to cancer……
Sample 3-If you really want to get over a breakup getting back on the horse will help things along. I thought that too seven lousy dates ago so here I am on date number 8 and I am not seeing any birds singing or rainbows in the sky. He steps away to take a call he is a particularly important lawyer after all (I need to fix my picker) after he comes back, he says it go time the jury has come back so off he goes. I finish my drink and head back to my brownstone close by, I pass the new chocolate shop that just opened, and I get inside and see chocolate heaven. Looking around I do not see him at first but there he is my old college lab partner Sam I just saw a rainbow…….

Read the post to get the context: My mind likes thinking about the various realms of possibilities and themes.
Based on your perspective, which scenario would you choose if you were invited to the activities below by the following characters:

1. Ghost Story Night – You decide to join Mercedes during the night to tell scary ghost stories with Ashe, Lysithea, Annette, and Alois. You both decide to hold a group challenge where the one who lasts the longest without screaming wins. It’ll be an entertaining night for sure to see who holds out the longest, but probably not for most of the group.
   
2. Casino Night – You decide to head to a Casino in Las Vegas with Balthus, Shamir, Manuela, Catherine, and Anna to spend the night gambling and trying to win big. It’ll be a good time for people who seek the rush of betting and the chance to watch a few shows with Manuela.
   
3. Buffet Feast Night – You decide to join Claude, Raphael, Caspar, Ingrid, Leonie, and Petra in going to an all-you-can-eat buffet booked by the King of Feasts, Claude himself. There’ll be great food and great friends at a good price. Let’s just hope no one gets banned for eating the buffet dry.
   
4. Poetry Night – You decide to join Lorenz, Constance, Ferdinand, Seteth, Dorothea, Bernadetta, and Sylvain in a poetry slam. Those who enjoy writing and poetry will feel the words embedded within their soul. You may have to bear with listening to some of the more cringy ones though.
   
5. Stargazing Night – You decide to join Hapi, Yuri, Flayn, Ignatz, Marianne, and Hilda in going stargazing near the open space in Gronder Field. The skies are clear, and the many stars shine bright as Hapi explains which stars belong to which constellation, and with a big telescope to see them.
   
6. Night Fencing – You decide to meet with Byleth, Felix, Edelgard, Dimitri, and Jeritza for a nightly swordfencing meeting. It may get very intense with everyone except maybe Byleth being very competitive in the sport, but you’ll try your best not to get overwhelmed. You may need to deal with Felix and Edelgard arguing with Dimitri a lot during the night.
   

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This is how I won $129,000 in my 3rd ever poker tournament. Note: don't try this, it probably won't turn out well for you.
I spent about 6 months grinding up a $5,000 bankroll playing home/casino games ranging from .5/1 to 1/3. The week that I hit that $5,000 mark, Matt, one of my best friends from college informed me that his job had placed him in Las Vegas for the next month and that I could crash with him for a few nights if I wanted to come on out west. I had frequent flyer miles for the flight and some Mlife/Fremont hotel comps for the rest of the trip. My grand total for flight and lodging for 10 days came to $200.
Now, I’m not going to bore you guys with low-level cash hand histories. The next 10 days were filled with me playing lowstakes poker for 10-12 hours a day. It’s as fun as it sounds – it’s not. I was having a good time in Vegas otherwise – but towards the end of the trip I had a realization: 1/2’s the same everywhere. I didn’t have to fly out to the desert to raise to $7 preflop.
After 10 days, my grand total from poker (and a fair amount of dumb degenerate shit on Fremont) was -$186. That wasn’t what I came out to do — I knew that I was a better player than my recent results had indicated. The morning of my return flight, I decided I was going to play tournaments until I either busted my $5,000 bankroll or hit something worthwhile.
I impulsively decided to not get on my plane at 11:30am. Checkout time from Luxor was at 11:00 – and I didn’t know where I was going yet. I had 30 minutes to pack up my stuff and figure out where I was going before they’d charge me a fee. I sorted TripAdvisor by cheapest first – I’ve stayed in crappy hostels/motels before and overall am a very low maintenance person. I figured that by staying somewhere for $20 a night, I’d be able to maximize the amount of shots I could take before flying back home. I accepted that there was a real chance I’d go back broke – but I didn’t really care. If I didn’t take my shot now, then when?
I booked the cheapest bed in Vegas - a 6-person shared hostel just past the Stratosphere. Let's just say you get what you pay for — it was not a happy place. A fair amount of the people in there were bordering on homelessness and there was barbed wire surrounding their outdoor gym. In addition to this, I had the constant stress of knowing that all that separated my bankroll from the rest of my roommates was a tiny lock. I took the Deuce to the strip, lived off food comps, and turned down invites from my friends to hang out. I was in town to play poker, nothing else.
Disclaimer: I had never played tournaments prior to heading out to Vegas. My only knowledge of hand ranges was from watching televised events. I downloaded a free Nash chart app on my phone while on the Deuce to the strip and studied it for 5 minutes – whatever, I get the jist of it. Let’s play some cards.
The first day of doing this I played the $140 daily at the Aria. Top 13 spots paid -- I finished in 15th. It was depressing to say the least — I felt as if I was at rock bottom. Before the first night of sleeping at the hostel I called the airline to see if I could get on the flight that I had deliberately missed the day prior. I couldn't.
I made it my goal to at least cash something so that I could get a decent hotel room.
I couldn’t have slept more than 2-3 hours the first night there. One of my roommates was loudly vomiting all night, the sheets itched, and I was going through an existential crisis... like dude, you’ve got a finance degree and you’re really doing this shit?
While on the bus to the strip, I opened Poker Atlas and saw that there was a $200 satellite to win a seat into the $1,600 Venetian main event. I decided that I was going to go take a shot at that.
I was at risk twice in the satellite but after studying the GTO method on how to win coinflips, I persevered and won a seat to the main.
The first day was surreal – once again, I was running on minimal sleep due to my housing arrangements, but I remember the following hands from day 1:

1. Button opens to 2.2x, I’m in the BB with Q9cc. SB folds, we go HU to a flop of 832c. He c-bets, I call. Turn 4x, x/x. River Ax. I check, he bets, I x/r to like 3x his bet, he insta folds. I take it down and show air.
2. UTG+1 opens, MP calls, I flat on the button with K10ss. 3 ways to a flop of Qs43xx. UTG+1 bets 40% pot, MP calls, I call. Turn is the Js. UTG+1 bets 60% pot, MP calls, I flat. River comes the 8s. UTG+1 snap bets 80%. MP flats, I flat. I announce king high flush, they both muck.
3. Folds to the SB, he limps, I look down at Q10o, and check. Flop comes KQ6r. He leads 35%, I call. Turn 10. He bets, I call. River comes a J. He bets, I tank for about 45 seconds then flick in a call, he shows 76o… ship it.

The average stack after day 1 was around 40k, I bagged like 65k. I walked back to the Deuce stop outside of the Venetian and headed on my 30 minute ride back home. I kept thinking to myself, someone’s gotta win this thing, why not me?
I had to get in the money for this tournament to be able to get the fuck out of there. A min cash here was over $3k – that was more than enough for me to get a suite on Fremont for a few nights and party for a bit, then get home with my head held high.
Day 2: I get up at 7am after already being completely awake for the past 4 hours. There’s no way I slept more than 3 hours last night. I hit the Denny’s by the Stratosphere then get on the Deuce.
I get to the Venetian and feel like I’m about to fall asleep. I go to the self-serve coffee/tea dispenser in the middle of the room and make myself an iced coffee. I get to my table, and the cocktail waitress comes around. I ask for another iced coffee and toss her a fiver.
Here are some highlights from the 1st half of day 2:

1. I open 97ss on the button, BB flats. Flop comes AK3s. BB checks, I bet 35%. He throws out a 5k chip – which I interpret as a x/r to my bet. I groan, make a joke about it being the first hand of the day, and start to muck. The dealer stops my cards midway before hitting the muck, and informs me that he didn’t raise, that he called my flop bet. Everyone laughs, I go silent and wait for him to make change. Turn is the 2s. He thinks for a second and bets 30%. I tank for like 30 seconds, then flat. River is a blank. He thinks for a second, then checks. I bet like 30% pot. He tells me that I’m an angle shooter and mucks. I tell him I’m not an angle shooter and show my 9 high. Everyone laughs, we get on with playing.
   
2. CO opens, I 3b 87dd in the SB to 4x, he flats. Flop comes 1032d. I check, he checks. Turn is the 6d. I bet 55% pot, he flats. River comes the Kd. I bet 60%, he tanks, tells me he thinks I backdoored diamonds, then folds. Damn, these players are pretty good.
   
3. I open KK UTG to 2.5x, UTG +1 flats. Heads up to a flop of K43r. x/x. Turn 8, I bet 40% pot, he calls. River 3, I bet 80% pot, he tanks, then calls with AK.
   

I bring my 3 racks of chips to the new table and immediately get some comments – whatever, I’m just on a heater, it happens. At this point, my body was giving out. I was trying my hardest not to fall asleep in between every hand.
Cutoff opens, I’m in the SB, I look down at KK. I put in the 3b, folds back to him. He puts in a healthy 4. We’re the two big stacks at the table – I’d guess he was 50bb effective while I was around 65bb. God damn, am I good enough to fold kings here? No, I’m not. I shove, he snaps, I know that I’ve just fucked up my tournament. He shows the aces. The dealer puts a king in the window, and I hold. I’m for sure the chip leader now.
I lose a few 40/60 and 60/40 flips and chip down a bit. I still have a very healthy stack, probably around 80bb.
The next 3 hands are from the second half of day 2:

1. Aggro Asian guy on the button. Folds to him, he opens to 2.2x, SB folds, I look down at 43ss and raise to 7.5x, he flats.

Flop comes 894cc. I check, he bets, I call. Turn’s another 9. I check, he bets 75% pot, I call. River’s the 10c. I check, he bets 1.2x pot. I ask the dealer for a count of the bet – meanwhile, villain looks like he’s going to shit himself. I flick in a chip, he throws down KcQx. I laugh a little, show my 43ss, and obnoxiously say ship it.

1. I open KQo UTG+1, MP 3bets me. I figure that a 4b from UTG+1 could take it down a fair amount of the time, so I decide to go for it. He thinks for a second and flats.

Flop comes AK4r. I check, he checks back. Turn is a 6, goes x/x again. River’s another brick. I put in a 30% value bet. He does a little grimace and tanks for like 20 seconds. It looks like he’s going to fold so I start verbally telling him that his queens are good. The dealer informs me that you’re not allowed to talk about your hand to another player. I inform him that I’m not talking about my hand, I’m talking about villains’ hand. Dealer laughs and lets me continue to antagonize villain. MP starts talking back, asking if I’m really bluffing. I inform him that once he folds, I’ll show the bluff. He ends up calling, I snap show, he pays me then gets up from the table to go for a walk.

1. We’re playing 6 handed. UTG opens, MP flats, I flat TT on the button. 3 ways to a flop of AT9ccc. UTG bets 50% pot, MP folds, I put in a medium sized raise. He thinks about it and flats.

The turn is the Kd. He pauses for a second then checks. I figured AxKc was his most likely combo. I didn’t think he could fold AxKc to any sizing – I decide to overbet jam 2x pot. He tanks for like 5 min and eventually lets it go. He tells me later he folded AxKc. Nice fold sir.
I finished day two 2nd in chips out of the 64 players remaining. More importantly, I was in the money. My friend Matt offered to give me a ride to the hostel to grab my stuff.
On the way to the hostel I’m telling Matt how trash the place is and he’s kind of like yeah man, whatever, it can’t be that bad. We gather my belongings and head on out. Matt remarked to me that the hostel reminded him of jail mixed with a summer camp.
I open a same night hotel app and see a room at the Four Queens available for $110. The lady at check in was nice enough – however, she informed me that the only room they had available at my price point was a smoking room overlooking the Fremont St. experience. I paid the $20 to upgrade to a non-smoking in the quiet part of the hotel. Vegas man, I swear.
It’s like 2am at this point -- I get to my room, sit on the bed and close my eyes. I open them and it’s 11:00am. Ah fuck man, I gotta get to the Venetian. I hop in the shower, brush my teeth, and freshen up. Even if I don’t have clean clothes, whatever, I’m second in the main, who cares.
Some interesting hands from the first part of Day 3:

1. I had two inexcusable punts in this tournament. This is the first one: I open 5h5c from LP, BB calls. Flop comes J62hhh. x/x. Turn is a 4x. x, I bet 50% pot, BB jams 15bb. I called – and immediately realized I fucked up, big time. He had 2 big chips in his stack that I didn’t see, making his shove effectively like 25bb. In addition, I didn’t have the 5h, I had the 5d. I really didn’t ask for a count or double check my hole cards. Villain turns over 64o and holds. In my defense, I literally didn’t know what ICM meant at the time. Whoops.
   
2. Someone who I recognize from poker TV jams 22bb UTG. I’m in the CO with JJ, I ask him how much it is, he’s talkative and seems genuinely comfortable/down for me to call. I fold – I run into him a few days later at the Aria, he tells me he had AA there. I believe him.
   
3. CO opens, button instantly jams 30bb effective. I’m in the SB with TT and 25bb – live reads, we’re flipping. I call for all in my effective stack, CO folds, button has AQ. I hold. He’s not happy I called with tens. Oh well, sorry bro, gg.
   
4. MP opens, CO 3 bets to 7bb, button jams 20bb. I look down at 2 black aces in the big blind. I reshove, MP folds, CO calls off his 20bb stack. I’m up against AQ and QQ. I hold.
   

Even with my atrocious punt earlier in the day, I’m the chip leader again.
We’re down to about 15 left in the field. UTG opens, I 3b AKo on the button, he jams 20bb, I call. He has 99, a king comes on the flop and he’s gone.
It’s day 3 of the main and we’re playing 5 handed with 12 people left. Let’s fucking go.

1. Button opens to 2.5x, I’m in the BB with A8dd, I flat. Flop comes A104r, I check, he bets, I call. Turn is a 7, x/x. River A, I bet 1.2x pot. He tanks, calls, I show, I’m good.
   
2. CO opens to 2.5x, I’m in the BB with 108dd, I flat. Flop comes Kd4x2d, it goes x/x. Turn is a Kx, I check, he bets 60% pot, I flat. River is the 4d. I check, he bets pot. I tank and let it go. He tells me later he checked back a weak king on the flop.
   
3. SB completes, I’m in the BB with J9o and I check my option. Flop comes Q108r. The SB donks out into me for 60% pot. I flat. Turn comes a brick and he leads into me for 60% again. I raise to 3.5x his turn bet, he thinks for a while then flats. River is another brick. He bets 80% pot into me. I tank for a while, then shove. He starts laughing and folds QQ face up.
   

Less than a week ago I was grinding buffet comps at Planet Hollywood. Now I have guys correctly folding top set to me.
I’ve made it to the final table. I pick up a few small pots and the two shortstacks at the table get eliminated in quick succession.
This is without a doubt the most pointless and just plain out stupid punt of my entire life: I open J2dd on the button into a ~18bb SB and a GTO robot with mid 7 figures in career earnings in the BB. Don’t do this, this is quite literally lighting money on fire. SB folds, BB flats. Flop comes Kh8h3d. I cbet, BB calls. Turn is the Kd, goes x/x.
River comes a 7h, he leads into me for half pot. Whatever, I’m going for it – I put in a raise. He thinks for all of 5 seconds then calls me with KQh. Wow, I just punted away $50,000 in ICM. Jesus Christ dude, what the fuck.
For the next orbit or two, I’m clearly pissed at myself. I get up after my button and do a lap around the poker room – I’m good. The monkey tilt is gone, and I’m ready to get back to playing normal ranges.
Anyway, nothing else really happens for a while – I look down at AKo UTG and raise it up. Folds around to the BB, he thinks for a while, then jams for about 20bb. I snap, he has AQo. I hold. I’m now second in chips. We go on a 10-minute break.
When I get back to the table, the prospect of a 5-way chop comes up. We’re all tired – and the pay jumps are very significant. If you couldn’t tell from this story, I’m a degenerate, but in this spot, I’m willing to reduce variance a bit. We run the numbers and come to an agreement – we all agree to take a very slight ICM bump to give 1st place a bit more money than his stack is worth.
I just won $129,000 -- huh? This was my second tournament cash – not too bad considering that it was my third tournament ever. Maybe I should start learning how to play MTT’s now.
I take $124,000 in a check and $5,000 in cash. I’m leaving Vegas in 4 days and don’t plan on coming home with any of the cash.
The winner of the tournament’s a pretty cool guy and he asks if I want to crash in his guest room tonight… like yeah, if that’s a real offer, I’m down. I pick up my toiletry bag from the Venetian concierge and we hit the Uber.
The next morning Matt picks me up at his house – I hit the Chase bank and deposit the $124,000. I take Matt and my other friend, Spencer out to the Sterling Brunch over at Bally’s – the entire time, Spencer just kept repeating “Davis, what the fuck”. I don’t know dude, seriously, what the fuck.
I get a suite at the D downtown that night and (very) long story short I end up hitting $100 on a number at roulette at 5am. It’s time for bed.
Here’s a link to my Hendon Mob, verifying my tournament result. Hopefully I see some of you guys at the WSOP in 2021.
https://pokerdb.thehendonmob.com/player.php?a=r&n=783521
Davis

NOTE: This is FAKE HOCKEY. To talk about actual hockey, go to the latest Daily Discussion thread
Trade Deadline Tonight will continue TONIGHT!
The /hockey Trade Deadline Game is back for day 2! Starting today at 8:00 AM MT trading is officially open again. Trading will run until Thursday, January 30th at 6:00 PM MT.
You are not late! You can still sign up at http://www.tdgdb.com
When you are traded, change your flair on hockey-related subreddits and spend the week from January 31st through February 7th cheering for your new team.
Here are this year's reporters, the people who will make things up break news of trade negotiations:

• DeathToHeretics
• WMino

But remember

NO TRADE IS OFFICIAL UNTIL POSTED IN THIS THREAD!

It's not too late to sign up to be a player The sign-up form is still active and will remain open until Wednesday night. You can find that here
For TDG-related shenanigans, go here [WARNING: some NSFW Language]
Happy trading!
coloradoavalanche receives xelrano from detroitredwings
detroitredwings receives illwill18 from coloradoavalanche
Detroit receives a 3 of the Rocky Mountains, Breckenridge Brewery.
Colorado receives Windsor Ontario.
coloradoavalanche receives Muckerofbin from edmontonoilers
coloradoavalanche receives SCwinningJultz from edmontonoilers
edmontonoilers receives asswaffle420 from coloradoavalanche
edmontonoilers receives CloutWaffle from coloradoavalanche
coloradoavalanche receive a used oil derrick, straight from the prairies.
canucks receives TheOlDickTwister from detroitredwings
canucks receives SevenStringGod from detroitredwings
detroitredwings receives JordanTheLobster from canucks
detroitredwings receives BlueLegs32 from canucks
Detroit receives Storm Brewery.
Vancouver receives the naming rights to Lake Superior
predators receives tonuch4963 from detroitredwings
detroitredwings receives TRed7894 from predators
Detroit receives Yazoo Brewery, and a choked on peanut.
Nashville receives the helmet from Robocop.
penguins receives thewinterzodiac from edmontonoilers
penguins receives nextfanatic from edmontonoilers
edmontonoilers receives DontPanic_4242 from penguins
edmontonoilers receives shirleyxx from penguins
penguins receive a barrel of the finest Albertan oil.
penguins receives StonedArcticPenguin from rangers
rangers receives ArchaicTriad from penguins
Pittsburgh Cheesesteak has been removed from the menu from Parmanti Bro's
anaheimducks receives Efficient-Sentence from winnipegjets
anaheimducks receives ItsaMe_Fish from winnipegjets
winnipegjets receives dunkan799 from anaheimducks
anaheimducks Front Office will have food delivered to the Front Office of Winnipegjets
stlouisblues receives otterHooligan from flyers
stlouisblues receives DelcoScum from flyers
stlouisblues receives agswanlek from flyers
flyers receives OtterInAustin from stlouisblues
flyers receives lawnicus18 from stlouisblues
flyers receives Rhymes_withOrange from stlouisblues
stlouisblues receives The Jacks NYB from Philadelphia in exchange for one hour alone with the Stanley Cup for Gritty.
rangers receives Asscheese124 from floridapanthers
rangers receives BearHands00 from floridapanthers
rangers receives MiamiDolphinsFan13 from floridapanthers
floridapanthers receives MentalCorruption from rangers
The New York Rangers also receive naming rights to the city of Miami, renaming it New Brooklyn, and naming rights to the Florida Keys, renaming them the Brooklyn Keys
flyers receives leadorlead from bluejackets
bluejackets receives puckcrisis11 from flyers
To bluejackets - a supply of Scrapple
To flyers - a gift card to La Crema in Hamilton
bluejackets receives NorthHighBears from coloradoavalanche
bluejackets receives RaiderGoalie from coloradoavalanche
bluejackets receives FuzzyTheKiller from coloradoavalanche
coloradoavalanche receives Highlander253 from bluejackets
coloradoavalanche receives HockeyHydralisk from bluejackets
Columbus Blue Jackets to receive a case of Marylands finest rot gut, DuClaw Brewery's Sweet Baby Jesus Chocolate Peanut Butter Porter.
Colorado Avalanche to receive assurances that HockeyHydralisk will shitpost memes at least twice, spending more than ten minutes in GIMP and not just making text on a white background.
detroitredwings receives docksmur from bluejackets
detroitredwings receives Demonox01 from bluejackets
bluejackets receives TheFlanderer from detroitredwings
bluejackets receives InSwedenWeTrust from detroitredwings
bluejackets may dress the Spirit of Detroit in a Blue Jackets jersey for one week
detroitredwings receives the Columbus Brewing Company
flyers receives Sulfoniclol from coloradoavalanche
flyers receives doodlescout from coloradoavalanche
coloradoavalanche receives TheGlaceon78 from flyers
coloradoavalanche receives wh1zzer from flyers
Colorado Avalanche to receive the township of Cherry Hill, NJ.
canes receives sneakytinkerspirits from canes
VGK receives a single In-n-Out fry. Not even animal style. Plain.
devils receives OhneBremse_OhneLicht from sanjosesharks
sanjosesharks receives woodbot96 from devils
sanjosesharks receives SnowyPuzzle from devils
sanjosesharks receives HopelessEsq from devils
sanjosesharks receives CTLepore from devils
hawks receives themagicman1343 from detroitredwings
detroitredwings receives Xenofon713 from hawks
detroitredwings receives Goose Island Brewery, but will still distribute to Chicago. hawks gets to rename 8 mile, 88 mile and a picture of Patrick Kane will be put on the sign.
hawks receives hockeyenthusiast from sanjosesharks
sanjosesharks receives NimihseeL from hawks
Chicago will send some cold weather to the Bay Area. The Sharks will use this to host the Blackhawks in the Winter Classic.
canes receives StephDoesntCamp from flyers
flyers receives SheepLovesFinns from canes
flyers receives SarahCiv from canes
flyers receives IAMA_Dumba55_Fan from canes
canes receives the Rocky statue and promises to teach Steph how to properly appreciate Rod the Bod
dallasstars receives kethryvis from sanjosesharks
sanjosesharks receives talkinmyface from dallasstars
sanjosesharks receives doihavetowearabra from dallasstars
Sharks receive three bags of hockey pucks.
detroitredwings receives OcelotWolf from sanjosesharks
sanjosesharks receives swim846 from detroitredwings
sanjosesharks receives GreatCanadian_ from detroitredwings
sanjosesharks receives ts1234666 from detroitredwings
Detroit receives ownership of the Hapas Brewing Company.
newyorkislanders receives Dildo_Baggins_6969 from hawks
newyorkislanders receives bwhyte1123 from hawks
hawks receives Deathwing_Dragonlord from newyorkislanders
hawks receives commsmatt from newyorkislanders
Isles to provide Hawks with Brooklyn pie.
Hawks to provide Isles with deep dish pizza.
detroitredwings receives CutLinkOfficial from rangers
rangers receives nik_mkay from detroitredwings
/detroitredwings get Genesee Brewing Company.
/rangers get to rename Dayton, MI to New New York, MI
devils receives osoblanco234 from goldenknights
devils receives Bigcheecho from goldenknights
devils receives rubix08 from goldenknights
devils receives mmowry98 from goldenknights
devils receives CapHillFlash from goldenknights
goldenknights receives JSav7 from devils
goldenknights receives timotomat0 from devils
goldenknights receives Pastatrees from devils
goldenknights receives Palmsfan21 from devils
goldenknights receives faze_chair from devils
New Jersey Devils acquire Bryce Harper's tears
Vegas Golden Knights acquire a Nikita Gusev Jersey
devils receives Hobpobkibblebob from tampabaylightning
tampabaylightning receives HeadHighSauce26 from devils
tampabaylightning receives diego-fuego from devils
TB receives: Louis Domingue NJ receives: some real Florida beach sand and a 12 pack of a Tampa Bay beer to be named later
canes receives Awab25 from hawks
hawks receives shadownet97 from canes
Canes will receive 1 pie from Pequod's.
leafs receives Cynova055 from bluejackets
bluejackets receives haIifax from leafs
To leafs - a signed LeBron James poster
To bluejackets - a Stan Rogers vinyl
coloradoavalanche receives ksheiny from newyorkislanders
coloradoavalanche receives zxpzflik from newyorkislanders
coloradoavalanche receives QuantumDrake from newyorkislanders
newyorkislanders receives littleneerd from coloradoavalanche
newyorkislanders receives bluestooge from coloradoavalanche
newyorkislanders receives usiakcameron from coloradoavalanche
/ColoradoAvalanche receive a cup holder stolen from the Barclays center
both teams sign a joint statement saying the Barclays Center sucks for hockey
rangers receives _RocketGrunt_ from coloradoavalanche
rangers receives stormylullabye from coloradoavalanche
rangers receives Thebush121 from coloradoavalanche
rangers receives taylorrae33 from coloradoavalanche
rangers receives camco105 from coloradoavalanche
coloradoavalanche receives MEGAMATTEOMAN from rangers
coloradoavalanche receives Robtachi from rangers
New York Rangers to receive New Mountain York.
detroitredwings receives guccigatana from newyorkislanders
newyorkislanders receives DeadWithMyFriends from detroitredwings
/NewYorkIslanders receive a girder from the old Joe Louis Arena
/DetroitRedWings receive the Southern Tier Brewing Company
tampabaylightning receives MooseKingdom from leafs
stlouisblues receives Ezflow from tampabaylightning
stlouisblues receives Bryce_Dead19 from tampabaylightning
stlouisblues receives Euroranger from stlouisblues
leafs receives Jimmers1231 from stlouisblues
leafs receives Bcakd5 from stlouisblues
bluejackets receives dylanr18 from bluejackets
bluejackets receives TheDanAplan from bluejackets
stlouisblues receives thecbjfan from bluejackets
leafs receives an official expression of gratitude from stlouisblues for Toronto's release of Tyler Bozak
hawks receives OleMissGoalie37 from coloradoavalanche
hawks receives HeelJopy from coloradoavalanche
hawks receives silentrenegade8 from coloradoavalanche
coloradoavalanche receives Bragisson from hawks
Chicago to receive Rhein Haus.
stlouisblues receives wingsfan64 from detroitredwings
detroitredwings receives ContrastingWords from stlouisblues
/detroitredwings receive 2 clydesdales
/stlouisblues receive 2 Fiats.
flyers receives WhoaItsAFactorial from losangeleskings
losangeleskings receives SplendaMan from flyers
losangeleskings receives crafbicycle from flyers
flyers receives a bag of Mike Richards finest nose candy
losangeleskings receives Gritty's dealer's phone number
losangeleskings receives kenlane from newyorkislanders
losangeleskings receives auniqueusername1001 from newyorkislanders
newyorkislanders receives Branzilla91 from losangeleskings
newyorkislanders receives WhyAreYouGey from losangeleskings
newyorkislanders receives trippy2219 from losangeleskings
/NewYorkIslanders receive a Pau Gasol jersey
/LosAngelesKings receive a jug of that good Brooklyn Water
flyers receives RealmoftheRedWiings from detroitredwings
flyers receives RedWingFan5 from detroitredwings
detroitredwings receives carp_boy from flyers
detroitredwings receives KFC_Gaming from flyers
/detroitredwings receive Yuengling Brewery
/flyers receive otters Kalee and Sparky from the Detroit Zoo
coyotes receives JimmyRadRad from tampabaylightning
coyotes receives sdubz11 from tampabaylightning
coyotes receives vinnyv91 from tampabaylightning
coyotes receives PinHill from tampabaylightning
tampabaylightning receives bonzaijoe from coyotes
TB receives: Some desert sand from Arizona + 1 live coyote
ARI receives: Some beach sand from Florida
predators receives m4xdc from coloradoavalanche
coloradoavalanche receives Forny008 from predators
Colorado Avalanche to receive Carrie "Carrie Underwood" Fisher at one home game.
Nashville Predators to receive two free Chevrolet Avalanches to smash as they see fit during the Stanley Cup Playoffs.
stlouisblues receives christinaann6 from penguins
penguins receives a promise that u/professorwhat won't make another edgy joke on stream
losangeleskings receives PhelpsTheory from canes
losangeleskings receives AStelthyNinja from canes
canes receives LABoston from losangeleskings
In addition, CAR receives a dozen Randy's donuts and a taco truck. LAK receives one storm surge wavier.
coloradoavalanche receives YouGot2BeKiddingMe from tampabaylightning
tampabaylightning receives feedfatso1607 from coloradoavalanche
tampabaylightning receives Leumas_lheir from coloradoavalanche
tampabaylightning receives putinsukraine from coloradoavalanche
tampabaylightning receives stubborn11 from coloradoavalanche
COL receives: A jar of lightning that can be controlled and used to kill enemies
TB receives: An avalanche machine that trigger an avalanche wherever I want, once
bluejackets receives Something_319 from stlouisblues
bluejackets receives Euroranger from stlouisblues
stlouisblues receives TheDanAplan from bluejackets
stlouisblues receives dylanr18 from bluejackets
stlouisblues receives the entire The Drew Carey Show on Blu-Ray.
bluejackets receive the body of General William T. Sherman. At last reunited with Grant, acquired in an earlier trade, Ohio's great God-Kings shall be reinterred beneath Nationwide Arena, henceforth to watch over this city, this state, and this hockey team in eternal glory.
sabres receives TheConeOfShame805 from penguins
penguins receives NumberJ5 from sabres
sabres receives the Monongahela River and a grilled cheese sandwhich that the Penguins promise is actually a Philly cheesesteak
penguins also gives NumberJ5 his own personal bidet
goldenknights receives needuhlife19 from detroitredwings
goldenknights receives D3troiit from detroitredwings
detroitredwings receives cookbacondrunknaked from goldenknights
/detroitredwings receive Ellis Island Hotel Casino & Brewery.
/goldenknights receive Tom Selleck's mustache
bluejackets receives Sh1eldbearer from detroitredwings
goldenknights receives RCX42 from bluejackets
Vegas acquires some Lake Effect from Columbus to help pond hockey in the desert
tampabaylightning receives bay_sports from sanjosesharks
tampabaylightning receives DontSayNoToPills from sanjosesharks
sanjosesharks receives bonzaijoe from tampabaylightning
sanjosesharks receives XanoJester from tampabaylightning
devils receives Troub313 from detroitredwings
detroitredwings receives Flowseidon9 from devils
detroitredwings receives corso923 from devils
/detroitredwings receive the Anheuser-Busch facility located in Newark.
sanjosesharks receives adam3vergreen from bluejackets
bluejackets receives sjs48 from sanjosesharks
bluejackets receives eggs-dee123 from sanjosesharks
caps receives brycer16 from flyers
caps receives AgelessWonder67 from flyers
caps receives FlackBox from flyers
flyers receives koalabear9301 from caps
flyers receives NotShibs from caps
flyers receives _Ghost8_ from caps
Philadelphia sends Jeff Francoeur to DC.
habs receives MOLightningBro from tampabaylightning
habs receives RandomBoltsFan from tampabaylightning
tampabaylightning receives Davel_Patsyuk from habs
tampabaylightning receives christiv7 from habs
tampabaylightning receives Lander-V from habs
MTL receives: A meeting with the Yakuza
TB receives: The best poutine Quebec has to offer
habs receives spyingformontreal from detroitredwings
detroitredwings receives Notopdelta from habs
/detroitredwings receive Molson Coors Brewing Company.
/Habs receive an unreleased Eminem mixtape
devils receives hnglmkrnglbrry from bluejackets
bluejackets receives summervacationtoHoth from devils
bluejackets receives Danny_Devitos_Bitch from devils
bluejackets receives kingofthediamond from devils
bluejackets receives 4Bars_BlackFlag from devils
bluejackets receives Cyrus_Voltaire from devils
bluejackets receives Future Considerations and Snookie from devils
bluejackets acknowledges and endorses the Devils' famous Christmas Whites as the best in the Tri-State Area.
habs receives Angry_Walnut from goldenknights
goldenknights receives Instantcurry from habs
goldenknights receives killerb54 from habs
Vegas acquires Paccioretty's C
Montreal acquires Paccioretty's A
flyers receives JakeTheSnake0709 from edmontonoilers
edmontonoilers receives NippleDickPussyBhole from flyers
flyers receives the Walterdale Bridge EdmontonOilers receive the opportunity to lick the Liberty Bell
caps receives Xenofon713 from detroitredwings
detroitredwings receives NKilmer6 from caps
/detroitredwings receive a bag of prison booze from The Central Detention Facility
sanjosesharks receives Softestpoop from edmontonoilers
edmontonoilers receives infamousgenitals from sanjosesharks
edmontonoilers receives thegreatmomo14 from sanjosesharks
penguins receives ProjectPsion from bluejackets
penguins receives TheStigofKentucky from bluejackets
penguins receives Zebra_dan from bluejackets
bluejackets receives PenguinPride87 from penguins
bluejackets receives knucklepuck17 from penguins
bluejackets admits the Pirates will win another title before the Browns will
caps receives thatgoodmojo from detroitredwings
detroitredwings receives Xenofon713 from caps
/detroitredwings will be holding a press conference soon to honor Xenofon713 for coming back home...for good this time.
flyers receives safetide from losangeleskings
losangeleskings receives cdl5060 from flyers
flyers also receives a meeting with Snoop Dogg to explain what otters are to him
sanjosesharks receives plantedgreenfern from caps
sanjosesharks receives Roust_McGoust from caps
sanjosesharks receives SaxIsMyAxe1_ from caps
sanjosesharks receives Fireball827 from caps
sanjosesharks receives hokierange from caps
caps receives Sainthops from sanjosesharks
caps receives pachicola from sanjosesharks
caps receives bunnymcfoo from sanjosesharks
caps receives SurprisedCarlos from sanjosesharks
winnipegjets receives NarcoticTurkey from habs
habs receives finnishjetter from winnipegjets
Habs receive protection from finnishjetter sabotaging our hockey survivor plans for 2020
winnipegjets receives Spitfyre434 from sanjosesharks
winnipegjets receives lackingspoon from sanjosesharks
sanjosesharks receives TrueNorthStrong1898 from winnipegjets
The Winnipeg Jets officially acknowledge that Northern California is better than Southern California.
winnipegjets receives Fixmy59bug from goldenknights
winnipegjets receives Hektorpascal from goldenknights
goldenknights receives biga204 from winnipegjets
goldenknights receives Kudgar from winnipegjets
stlouisblues receives Whydoesthisexist15 from canes
stlouisblues receives gene_scallop from canes
stlouisblues receives waltstrika from canes
stlouisblues receives canesfan556 from canes
stlouisblues receives fogger794 from canes
canes receives PM_Me_Things_Yo_Like from stlouisblues
canes receives TechDawg20 from stlouisblues
canes receives JazzPolice13 from stlouisblues
canes receives M_Shepard_89 from stlouisblues
canes receives jsmu2016 from stlouisblues
canes receives a buffet tray of T-Ravs, stlouisblues receives the Section 328 Podcast.
canucks receives DeathToHeretics from caps
hawks receives ainzooalg0wn from caps
caps receives thelaineranger from canucks
hawks receives jlennox__ from canucks
caps receives younggun92 from hawks
caps receives jamaicancovfefe from hawks
To Chicago: A pizza from We The Pizza (Toppings to be decided at a later date)
To DeathToHeretics: A Chicago Dog and Chicago Deep Dish Pizza to be taken with him to Vancouver
canucks receives ChronicBitRot from hawks
canucks receives ThirdTimesAnAlt from hawks
canucks receives SpeedyDolphin42 from hawks
hawks receives mephnick from canucks
winnipegjets receives darnfox from detroitredwings
winnipegjets receives akschreibs from detroitredwings
detroitredwings receives PuckTheFreds from winnipegjets
/detroitredwings receive Half Pints Brewing Co.
/winnipegjets receive lockers from Joe Louis Arena, to be used as the overhead compartments
canucks receives jmorga33 from bluejackets
bluejackets receives offline_dude19 from canucks
canucks receives a bag of pucks from bluejackets , and promises to take them down to Seattle and use them to break Starbucks windows
losangeleskings receives sweetstrife from bluejackets
bluejackets receives Mootux from losangeleskings
bluejackets receives im_turning_into_moss from losangeleskings
bluejackets receives Bhelliom from losangeleskings
bluejackets receives Boii1209 from losangeleskings
bluejackets receives WorldRallyBlues from losangeleskings
The Rainbow Bar and Grill moved to Columbus. The Rock and Roll Hall of Fame moved to Los Angeles. Harvey Weinstein lifetime banned from entering Ohio.
/sabres receives Mercpool87 from /penguins
/sabres receives DL757 from /penguins
/sabres receives armagev17 from /penguins
/penguins receives shadowzeak from /sabres
/penguins receives Uncle_Gazpacho from /sabres
penguins receives the city of Buffalo, and the Buffalo Bisons u/armagev17 receives a full NTC
hawks receives spicy-succ from newyorkislanders
hawks receives PracticallyCanadian7 from newyorkislanders
newyorkislanders receives IAmQueensBlvd31 from hawks
/NewYorkIslanders receive courtiebabe420's old Jay Cutler jersey
/Hawks receive TheBossJarhead's old John Tavares jersey
penguins receives cgreen727 from coyotes
coyotes receives BoBandy35 from penguins
coyotes receives TheStigofKentucky from penguins
coyotes receives brendan0305 from penguins
coyotes get Phil Kessel's old house for u/bonzaijoe
penguins get an old Phil Kessel hotdog wrapper for u/armagev17
coloradoavalanche receives Freaaak55 from sanjosesharks
sanjosesharks receives SlipperyInNet from coloradoavalanche
goldenknights receives AnAngryAnimal from wildhockey
goldenknights receives CommanderCorndog from wildhockey
wildhockey receives moosepile from goldenknights
Minnesota sends Mild hot sauce to Vegas. Vegas issues a written apology for having done it to GMCF so hard in the expansion draft
flyers receives pelliffe11 from devils
devils receives MrMeSeeds from flyers
Flyers also receive Apple Watch to log "fitness"
canucks receives thronelol from caps
canucks receives mataleon07 from caps
canucks receives camelCaseNoob from caps
caps receives IGotThisFromEbay from canucks
caps receives Crazymoney74 from canucks
caps receives spacppl from canucks
caps receives flyingsub from canucks
caps receives BraqAttack from canucks
bluejackets receives FewWatermelonlesson7 from wildhockey
wildhockey receives AntiPrince from bluejackets
Minnesota admits that they are not, in fact, Canadian. The Blue Jackets admit that the Cleveland Indians ownership is dumb and stupid.
goldenknights receives svartkonst from dallasstars
goldenknights receives scoutcjustice from dallasstars
goldenknights receives FuckItHaveAnUpvote from dallasstars
dallasstars receives Sumdood88 from goldenknights
And a promise to get Drokeep out of Philly
detroitredwings receives quantumking_ from wildhockey
detroitredwings receives Zushenko from wildhockey
wildhockey receives Detonation from detroitredwings
DET acquires: Burning Brothers Brewery
MIN acquires: 5 lbs of mackinac fudge
sabres receives TurtleWithATail from canucks
sabres receives MirandaGemini from canucks
canucks receives KEWLCactus from sabres
Vancouver receives both the American and Canadian sides of Niagara Falls.
Buffalo receives 2000 lbs of salmon (wild) and the rights to Seattle as a rival.
losangeleskings receives wyattgbert from detroitredwings
detroitredwings receives Arelfel from losangeleskings
/detroitredwings receive Angel City Brewery
/losangeleskings receive a random parking lot attendant
penguins receives Dragarien from detroitredwings
penguins receives drock21023 from detroitredwings
detroitredwings receives byfugWIN from penguins
/detroitredwings receive Croakers Brewing
/penguins receive an old concession stand from Joe Louis Arena
detroitredwings receives Gamogi from edmontonoilers
detroitredwings receives LLbnjt99 from edmontonoilers
detroitredwings receives rdayrien from edmontonoilers
detroitredwings receives saltydingus from edmontonoilers
edmontonoilers receives Ohgodwhatisthisidont from detroitredwings
edmontonoilers receives iFuktUrMom from detroitredwings
edmontonoilers receives BylerTertuzzi from detroitredwings
detroitredwings receives the Alley Kat Brewing Company.
habs receives NontransferableApe from bluejackets
bluejackets receives Toaster_Coaster from habs
bluejackets receives gryff_ from habs
hawks receives BoltsGoalieGirl from tampabaylightning
hawks receives DoinWhale from tampabaylightning
hawks receives xW52 from tampabaylightning
hawks receives KatWantsToBattle from tampabaylightning
hawks receives J_Mark13 from tampabaylightning
tampabaylightning receives GRAIN_DIV_20 from hawks
tampabaylightning receives drmatt19 from hawks
tampabaylightning receives freezend from hawks
tampabaylightning receives burtsreynoldswrap from hawks
tampabaylightning receives keister_TM from hawks
TB receives: The best Chicago deep dish pizza for the staff + a shipment of Old Style
CHI receives: The best Cuban subs for the staff + a shipment of Yuengling
dallasstars receives Drokeep from flyers
flyers receives Sumdood88 from dallasstars
goldenknights agrees to renounce all present and future claims to Bryce Harper
dallasstars recieves Chance the Gila Monster from Vegas
tampabaylightning receives CluelessNuggetOfGold from detroitredwings
tampabaylightning receives canbehazardous from detroitredwings
tampabaylightning receives DarkRitNighthawk from detroitredwings
tampabaylightning receives SlenderSpenser from detroitredwings
tampabaylightning receives Datsyuk1998 from detroitredwings
detroitredwings receives westofvenus from tampabaylightning
detroitredwings receives SuperSniper4 from tampabaylightning
detroitredwings receives deeyaz from tampabaylightning
/detroitredwings receives Cigar City Brewing
/tampabaylightning receies a C8 Corvette in blue and a case of Vernors
goldenknights receives obelisk29 from tampabaylightning
goldenknights receives cm17cm17 from tampabaylightning
goldenknights receives MrTubzy from tampabaylightning
goldenknights receives justincase_2008 from tampabaylightning
goldenknights receives lorenzovonmaterhorn from tampabaylightning
tampabaylightning receives GhostlyPixel from goldenknights
tampabaylightning receives Hollywood_Zro from goldenknights
tampabaylightning receives WoomyNgyes from goldenknights
tampabaylightning receives Byers346 from goldenknights
tampabaylightning receives KelaSaar from goldenknights
TB receives: Tickets to a Vegas show to be named later
VGK receives: Future Considerations