Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Bill and Melinda Gates’ Divorce News A Bull Case for GameStop? What you need to know – Gamestop Corp. (GME)

Bill and Melinda Gates’ Divorce News A Bull Case for GameStop? What you need to know – Gamestop Corp. (GME)



A post from a member of Reddit Investor Forum r / GME in March in which speculated billionaires increased their short positions in GameStop Corp.. (NYSE: GME) prior to their impending divorce is now seen as a bull case for the value of the video game retailer.

What happened: After the divorce notice from Microsoft Corporation (MSFT) co-founder Bill Gates and his wife Melinda Gates on Monday discovered members of the Reddit board r / GME a nearly two-month-old post by user Jobom3 linking a rise in borrowed GameStop shares to the possibility of billionaires preparing for their divorces , as first observed by MarketWatch.

A Reddit post on March 1

1 noted that more than one million GameStop shares were borrowed from exchange traded funds (ETFs) in the pre-market. The move was seen as a new confrontation in the ongoing battle between hedge funds trying to short-circuit GameStop and investors looking to prove the company is fundamentally undervalued.

In response, Jobom3 said, “I think they’re just buying time to secure their personal assets. Move them offshore or divorce their wives and put the money in their name. Such tricks. ”

Members of the Reddit board credited Jobom3 with predicting Gates’ divorce, noting that the divorce supported their speculation that some wealthy short sellers of GameStop are fighting for the short squeeze in an attempt to protect their assets from the possibility of a market explosion.

See also: Just Call Them ETPs: WallStreetBets Founder Jaime Rogozinski Launching Blockchain-Powered Exchange Traded Portfolios

Why it means: Creating a company like Microsoft helped Bill Gates build great prosperity along the way. Gates left Microsoft in 2008 to concentrate on his philanthropic endeavors.

In 2000, Gates and Melinda started the Bill & Melinda Gates Foundation, the world’s largest private charity fund with a $ 49.8 billion trust grant.

The most recent legislative submission from the fund published ownership interests per. 31 December 2020 i Amyris (NASDAQ: AMRS), Atreca (NASDAQ: BCEL), BioNTech SE (NASDAQ: BNTX), Curevac NV (NASDAQ: CVAC) and For Biotechnology Inc. (NASDAQ: VIR). However, the registration does not show any share in GameStop shares.

Price action: GameStop shares closed 0.9% lower in Tuesday’s regular trading session at $ 160.73, but added 0.7% in the after-session to $ 161.89.

Read next: 5 things you may not know about Bill Gates

Photo courtesy of: EPIC via Wikimedia

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


Source link