honestly believe naked shorting sucks, and don't want GME holders to lose money.
But maybe the recent fall in GME is sweet justice for Ryan Cohen.
I was appalled at the moved he pulled, filing a 13D with high strike call options to lure in Redditors, then using the volume to dump his entire stake before his 144 was filed. He basically screwed the very people who made him 10x his money on GME.
I know, I know, he didn't force anyone to buy BBBY, and thats a different play, I don't care. His move was immoral.
If you read interviews, the guy just has a high school education, but what he did with Chewy was impressive. He basically was very smart about building a distribution infrastructure, understanding shipping costs and about internet marketing around his distribution hubs.
However, I'm not a believer in the actual Gamestop business.
First, it is clear the NFT marketplace is not taking off. I think marketplace transaction revenue from the marketplace is equal to 2 of Gamestop retail stores.
I'm also convinced Ryan Cohen is not a good brick and mortar retailer. If you read about Gamestop operations and morale at the store level since he took over, he's cut hours, and there is tremendous pressure to sell warranties and other super high margin rip off items. Employees are not happy.
Finding employees in retail is super hard at the moment, and Gamestop does not pay well. It is not a surprise that he is offering stock as compensation, because he doesn't want to pay his associates cash.
In any event, I think he screwed people who made him a lot richer. I personally like to see Karma coming back to haunt him.
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