Bill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know

By Madhukumar Warrier10 days ago

A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were increasing their short positions in GameStop Corp. (NYSE:GME) ahead of their impending divorces is now seen as a bull case for the videogame retailer’s value.

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

AD

A Reddit post on March 11 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 GameStop and investors who wanted to prove the company is fundamentally undervalued.

Continue read on benzinga.com