The guy who made $11 million on $GME

G

guru

At this point this is becoming Wall Street news, and he seems quite knowledgeable and professional in his "investment" approach, not just a lucky WSB retard:

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Here4money said:
props on the guy throwing darts and having balls of steel by holding during an artificial pump by degenerate gamblers, I still don't see the GME value argument
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He did argue in his videos and posts over last couple years that GME was working on changing its business model, just like Apple became a value stock for a time when they lost Steve Jobs and while/after Jobs changed their direction after coming back. There was also a billionaire active investor/entrepreneur in the last 6 months who reshuffled the GME board of directors and pushed for new business model. Therefore at some point GME changed from a dying penny stock into having potential as a value investment. Possibly not dissimilar to some recent SPACs (so still speculative but sometimes having realistic potential).
 
guru said:
He did argue in his videos and posts over last couple years that GME was working on changing its business model, just like Apple became a value stock for a time when they lost Steve Jobs and while/after Jobs changed their direction after coming back. There was also a billionaire active investor/entrepreneur in the last 6 months who reshuffled the GME board of directors and pushed for new business model. Therefore at some point GME changed from a dying penny stock into having potential as a value investment. Possibly not dissimilar to some recent SPACs (so still speculative but sometimes having realistic potential).
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I've been following WSB/GME activity since before Cohen bought in. Perhaps I should revisit this new business approach as I still see them as a brick and mortar blockbuster type business, in a world where Steam/Amazon rule the game. I saw aggressive shilling at WSB hoping to trigger the short squeeze. I didn't think redditors would fall in line, but alas they did
 
Here4money said:
I've been following WSB/GME activity since before Cohen bought in. Perhaps I should revisit this new business approach as I still see them as a brick and mortar blockbuster type business, in a world where Steam/Amazon rule the game. I saw aggressive shilling at WSB hoping to trigger the short squeeze. I didn't think redditors would fall in line, but alas they did
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He does mention short squeezes on recovering stocks, which is part of his strategy to cash out 4x-50x on occasions, while aiming for 50%-100% total per year thus losing on many other bets. This makes him knowledgeable of how the stock market works, besides basic stock picking.
Several people here on ET also asked/discussed in the past whether buying OTM calls on random cheap stocks may be a viable strategy, so now it seems that some people do use this approach successfully, though maybe not just randomly.
 
I looked at GME 2 years ago from a value-distressed point when it was trading around 4-8, which I thought the price target could be 15 on a turnaround/reorganization story. I didn't do the trade due to lack of catalysts in sight and am very very surprised to see its stock at 50+.
 
Friday's price action in GME reminds me of the old days, huge run on momentum. As usual I called it long in chat early but failed to trade it myself. Anyways it's exciting.
 
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