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:
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
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).
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
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.
The social-media powering stocks up substantially..how are they different from the pump and dump schemes, except these days the scheme is operated using distributed accounts, so difficult to pinpoint to a few people.