● GameStop's remarkable surge has left investor Ryan Cohen sitting on a 809% gain.⠀ ⠀ ● Cohen, a Chewy co-founder, disclosed an investment in GameStop in August. By December he’d purchased 9 million shares in the retailer for a total cost of $76 million. Earlier this month, GameStop announced that he and two other former Chewy colleagues would be joining the board, triggering a jump in the company’s share price.⠀ ⠀ ● Cohen’s 13% stake was valued at around $691 million as GameStop shares closed at $76.79 in New York trading. The stock has surged from a low of $10.47 a share in October, fueled by a short squeeze ignited in chat rooms.⠀ ⠀ ● Read more by clicking the link in our profile.
It all started with a short by an analyst at Citron Research. An army of day traders on Reddit’s WallStreetBets called out the short on GameStop, and their fervor for the video game retailer has sent the tiny stock surging 245% this year. GameStop, which isn’t expected to turn a profit before 2023, has seen its market value triple to $4.5 billion in three weeks, burning the skeptics whose any attempt to cover is likely to further propel its ascent. Click the link in our bio for the story of how a Reddit stock pick has gone sky high. 🚀
One trader on Reddit turned $53,566 into more than $11 million. This is how WallStreetBets pushed GameStop shares to the moon https://t.co/vgIDWX6JQV
Ok. I think institutional investors really are looking at Reddit now.
Or they were already. But I think more and more are paying closer attention. All this talk about BB over the weekend. And then suddenly it increases by 33% today on Monday. That is more than 3 billion dollars moved around. There’s no way that’s just Reddit by itself. This is not a coincidence.
Why are all GME buyers say wait til Friday?
I heard that options expire on 1/29 for 115c, but what significance does that have? Why would the stock rise on Friday? Excuse me because I am still relatively new to trading. I myself have bought 80 shares at $69 (complete coincidence). But can anybody explain to me what the significance of Friday/end of week implications would mean for the price of the GME stock?
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GameStop short-sellers lost $1.6 billion in a single day as Reddit traders rebelled against them https://t.co/6WwWBMSRdU