🛒 Ryan Cohen (founder of Chewy) bought more shares of GameStop $GME and now owns 12.9% of the company. To go from 9.9% to 12.9% means he passed the 10% threshold. According the SEC Act of 1934, he will need to report any transaction within 10 days. This could lead to more volatility to the stock, which already has very low liquidity and on the brink of a short squeeze.
🎮 Now we have definite proof that Ryan Cohen believes in the company. He mentioned in the filing and previously in a letter that he intend to bring changes to the company. Ryan Cohen was able to compete with Amazon $AMZN with Chewy $CHWY and he wants to do the same thing with GameStop. Important to note that Ryan Cohen sold Chewy to Petsmart and the current CEO and the former CFO of Petsmart are on the board of GameStop.
💵 Ryan Cohen started buying shares of GameStop in April when the shares fell to $3 and he's still buying at $16, which means that he believes that the company is still cheap.
🥊 More ownership of GameStop means he will have more voting rights in the company. He might even cause another proxy fight or a hostile takeover. The insiders own 14% of the company and we have other activist investors such as Michael Burry. If he tries a hostile takeover, he will have to work with the other activist. A hostile takeover might also be tricky because of the low liquidity of the shares and now that he owns more than 10%, everybody will know when he's buying and the price will just go up, making it less attractive to him.
💹 I started investing in GameStop in September 2019, well before Ryan Cohen. I invested invested when it crashed by 60% during the bear market. That's how my profits are over 300% today. I'm still very bullish on GameStop and it is because of the fundamentals not because Ryan Cohen is buying. It is good to know someone with a good plan is on your side but fundamentals always matter the most.
Watch the full video on YouTube:
https://www.youtube.com/watch?v=hDybW0Y5NB0&list=UUPO3uUyoXSaFWG-Ldq1mqEQ
𝙃𝙚𝙧𝙚'𝙨 𝙢𝙮 𝙛𝙪𝙡𝙡 𝙖𝙣𝙖𝙡𝙮𝙨𝙞𝙨 𝙤𝙛 𝙂𝙖𝙢𝙚𝙎𝙩𝙤𝙥:
🔬Join my INVESTMENT RESEARCH PARTNERSHIP for all my analysis and research, along with a course for investing for beginners for free🔬
📚 New to investing? Here's my investing COURSE FOR BEGINNERS with over 150 lectures 📚
🗣️Join my private investing FACEBOOK GROUP for more 🗣️
💬 Join my DISCORD CHAT 💬:
🌐 WEBSITE - Subscribe for Weekly Newsletter 🌐: