GameStop Memeaversary Friendly Reminder: Ryan Cohen is Here

Meme stocks, such as GameStop, have had a significant impact on retail investors over the past two years. The aniversary of a group of redditers who "played" with GameStop "feelings".

Memeaversary

The phenomenon began in early 2021, when a group of amateur traders on the subreddit r/wallstreetbets coordinated a short squeeze on GameStop, driving the stock's price to unprecedented heights.

The short squeeze was sparked by the revelation that a large number of hedge funds had bet against GameStop, and the amateur traders sought to inflict financial damage on these hedge funds by buying up GameStop stock and driving up its price.

The GameStop short squeeze was a turning point for retail investors, as it demonstrated their power to move the markets and make significant profits. It also highlighted the potential risks of short selling and the importance of due diligence when it comes to identifying potential short squeeze opportunities.

Ryan The Savior Cohen

pic.twitter.com/hwSgrHjHMx

— Ryan Cohen (@ryancohen) January 18, 2023

One of the key figures in the GameStop story is Ryan Cohen, an activist investor and the co-founder of Chewy, the pet e-commerce company. Cohen became involved with GameStop in August 2020, when he purchased a large number of shares in the company. He then became GameStop's Chairman of the Board, and has been focused on executing a turnaround plan for the company.

Cohen is an irreverent personality with a love for dark humor and a heavy presence on social media. He is also an experienced investor, with significant investments in companies such as Apple, Wells Fargo, Citigroup, Netflix, and Alibaba. Cohen's investment philosophies are based on the teachings of his father, Ted Cohen, and other famous investors such as Warren Buffett and Carl Icahn.

Through his holding company RC Ventures, Cohen is GameStop's largest shareholder, owning more than 12% of GME shares. He has not sold a single share of GME since entering his original long position, and his initial 2020 investment in GameStop saw a 5,000% appreciation at its peak. Today, those gains stand at an only slightly more modest 1,400%.

The GameStop short squeeze and the arrival of Ryan Cohen have had a significant impact on retail investors. It has demonstrated the power of retail investors to move the markets and make significant profits, as well as highlighting the potential risks of short selling and the importance of due diligence when it comes to identifying potential short squeeze opportunities. The involvement of Cohen, a savvy and experienced investor, has given GameStop shareholders confidence in the company's future and has helped to solidify the company's position in the market.