Prudence en vue à Wall Street : GameStop en vedette (2024)

FAQs

How much did the kid make off GameStop? ›

At the height of the GameStop surge, Gill's stock was valued at $48 million. Gill retreated from public life in 2021, with no indication of what he's doing now.

Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the stock being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.

The GameStop episode has been associated with a similar late-January increase in volatility in the broader market. January 27 was the peak of a wave of liquidations by long-short hedge funds of widely shorted stock positions, including GME and other meme stocks, and their offsetting longs (Goldman Sachs 2021).

GameStop (GME) stock surged 21% on Monday after user "DeepF***ingValue, an account believed to be tied to individual investor Keith Gill — who ignited the meme stock rally back in 2021 — posted a screenshot on Reddit late Sunday that purported to show they paid nearly $175 million building a position in the video game ...

The profit on Keith Gill's GameStop trades

It consisted of two parts: 5 million shares of GameStop stock purchased for $21.27, worth approximately $116 million at the time of the post. 120,000 June 2024 $20 call options purchased for about $5.68, worth nearly $66 million at the time of the post.

GameStop's revenue has also been on a decline, falling from $6 billion in fiscal 2022 (fiscal ends in January) to $$5.3 billion in fiscal 2024. Although the company's reported earnings did improve from $(1.31) to $0.02 over the same period, its margins are very thin.

As of February 2024, the company operates 4,169 stores including 2,915 in the United States, 203 in Canada, 404 in Australia and 647 in Europe under the GameStop, EB Games, EB Games Australia, Micromania-Zing, ThinkGeek and Zing Pop Culture brands.

The company has been losing money for several years due to its reliance on brick-and-mortar stores at a time when customers buy video games and collectibles through ecommerce firms, and its latest quarter was no different. Net sales fell to $881.8 million compared with $1.24 billion a year ago.

Will GameStop rise again? ›

Market And Investor Sentiment

Some have faith GameStop will rise again, citing the company's improved balance sheet. Others point out, rightfully so, that Cohen shared no specific plans for a turnaround.

Ryan Cohen, Chief Executive Officer and Chairman.

In reality, Kim Campbell is a nurse at the Davis Center of Psychiatric Medicine living in Los Angeles. Kim's investment in GameStop rose to as much as roughly $50,000 whereas Jenny's financial gains in Dumb Money soared to upwards of $500,000.

In late 2019 / early 2020 Cohen started building a position in Gamestop. Today, “…his more than 36 million shares have earned him roughly $900 million in paper profits, regulatory filings show.”

GameStop reported net sales of $5.2 billion for its 2023 fiscal year, down from $5.9 billion the previous year. But the company swung to a profit of $6.7 million in 2023, reversing a loss of $313.1 million in fiscal 2022.