One GameStop shareholder got $3.1 billion richer in one week, and the rally isn't over yet - Business Insider

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One GameStop shareholder got $3.1 billion richer in one week, and the rally isn't over yet

Redditors are posting screenshots of their paper gains from the rally, but the biggest winners aren't boasting online. GameStop's three biggest individual shareholders gained $4.1 billion combined since January 20, as calculated by Insider using SEC filings.

The biggest beneficiary from the stock surge is Ryan Cohen, the cofounder of pet-food e-commerce firm Chewy, who made a $76 million investment in GameStop last August. His 12.9% stake is now worth nearly $3.1 billion — up from $352 million on January 20 — based off a price of $340.42 at 1:00pm ET Wednesday. The 35-year-oldCohen also recently joined GameStop's board.The second-biggest winner is Donald Foss, who bought a 5.3% stake last February for about $12 million.

Representatives for Cohen, GameStop, and Credit Acceptance Corp. did not immediately respond to Insider's request for comment. E-commerce entrepreneur Attal Alain joined GameStop's board on January 10 just in the nick of time. His 125,000 shares, worth $4.9 million when reported to the SEC on January 19, are now worth $42.6 million.

Wedbush Securities Managing Director Michael Pachter has written off the rally as "a cult phenomenon.". "The market appears to believe Ryan Cohen has a strategy that will take earnings up by a lot. I can't give him credit for his genius until I see what the strategy is."

 

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Ryan Cohen is the reincarnation of Elon

He's also the single largest apple shareholder

I wouldn't get too comfortable 😅

Do you think this is what people really need right now?

lol and these Robinhooder are happy over $17 gains lol ALL OF IT IS RIDGED!!

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 /  🏆 729. in TH

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