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."
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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