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A GameStop store in a mall. In September 2019, Gill, under the username "u/DeepFuckingValue", posted on the subreddit r/wallstreetbets a screenshot of a trade consisting of a roughly $53,000 long position in GameStop; [8] Gill's Reddit posts and YouTube videos argued (through both fundamental and technical analysis) that the stock was undervalued. [3]
The letter also revealed that Scion owned approximately 2,750,000 shares, or about 3.05% of GameStop. The stock price of GameStop, which had been in steady decline in share price since late January 2019, spiked roughly 20% after Burry revealed that he was buying the stock in an interview with Barron's.
A GameStop store in 2014. GameStop, an American chain of brick-and-mortar video game stores, had struggled in the years leading up to the short squeeze due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.
The options allowed Gill to purchase 12 million shares of GameStop stock at $20 per share by the June 21, 2024 expiration. Gill also had $29.4 million in cash in his account.
By late Jan. 2021, Gill was up over 4,000% on stock and options in the company, with his GameStop position plus cash worth nearly $48 million, according to his posts.
The stock of embattled retailer GameStop soared when one meme-stock investor touted the stock last month. Now that investor, Keith Gill, has revealed a $181 million stake in GameStop, and it ...
Continuing his investments in GameStop, Cohen acquired 100,000 more shares on March 22, 2022. Adjusted for the stock split, this acquisition represented 400,000 shares. [ 41 ] On June 9, 2023, Cohen bolstered his stake in the company with a purchase of 443,842 shares, equivalent to a $10 million investment.
GameStop raised almost $2.14 billion as it capitalized on the recent stock rallies spurred by the online reemergence of influential retail trader Keith Gill.The video game retailer said on Tuesday ...