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GameStopE4: Is Keith Gill playing both roles of Michael Burry & Ryan Cohen in this requel? Is he Michael Purry & Roaring Cohen?
39 Plays5 months ago
Michael Burry’s investment & divestment in GME, followed by Cohen's increased stake & long-term vision for GME; lit a fuse 🔥 leading to the explosive 💥 Jan ‘21 squeeze. Today, we see Keith Gill/Roaring Kitty/Deep Fucking Value driving similar activity. If his actions lead to another squeeze, is he both Michael Purry and Roaring Cohen this time around?
Image Credit: Iuliia Duzhnikova
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Transcript
00:00:25
Manny Cray
a i gone Thank you. ah seven nation armymi couldn no me better I've just been listening to this playlist. This playlist, by the way, the Game Stonk Saga Super Stonk Stop GME playlist on Spotify. Shout out to that. It's got it's it's got all the songs that ah deep fucking value or in Kitty Keith Gill that he used in his memes on Twitter. And it's a great great playlist it's got it's got something for everybody something for everybody in that one so yeah i've been jamming out to the white stripes gotta let you know i am not jack white if you heard if you heard me singing there for a second and thought i was jack white i am not not. i I am am not him. He's not me. ah Yeah, okay. So been a little minute. ah Been a little minute since I've done one of these. ah This is what season? I mean, so this is episode four. Yeah, I think this would be at episode four. So we went through, we did history. We looked at potential deep fucking value strategies. We looked at potential Ryan Cohen strategies. um Yeah, so that brings us to four. And on this one, I think we're going to go back. We're going to shift back ah to the category of, ah you know, the strategies that deep fucking value could be um pursuing in this requel, the requel, the requel, requel, requel, sequel. If I say sequel, I should say requel. Okay. So yeah, we're looking at deep fucking values strategies in this requel. And what's interesting about this one is it goes through some of the history, um Michael Burry and ah Ryan Cohen's involvement during GameStop in the original, in the original back in, I guess, Michael Burry started in 2019, but most of that is in 2020 so we're gonna go through some of that research I saw some interesting similarities to what's going on today so gonna call that out a little bit as well and I guess just calling out a couple things from the last episode I do need okay I don't I don't have a follow-up on this one, but I do want to double check um what caused the fine with Wells Fargo. I don't think it was fully 13D related, and he was fined a melee for not filing the 13D. So I'm going to double check and look into that. I'll provide some clarity on that one on the next episode. um I also had to go back and edit that recording because I made the mistake and I feel like a lot of people have probably also made this mistake, especially if you're newer, ah newer ape, as they say to the GameStop saga. As I am, I was drawn in. I saw everything that happened. I see it happening again. I was drawn in. um So I'm doing research. I know Ryan Cohen has an investment firm, RC Ventures. So I found the website and I was looking at the portfolio and I did some speculation and talked about it on the last episode. But lo and behold, come to find out that was not RC Ventures. um That wasn't Ryan Cohen's portfolio. So if you are looking at a website for RC Ventures as of now, as of recording this right now, um today, November 2024. It's ah yeah, it's it's not his. So don't look at that portfolio. Learn from me. That is not Ryan Cohen's RC Ventures portfolio. And I also learned RC Ventures, though he's only using Ryan Cohen is only using RC Ventures for his GME investment. So just for GameStop, all those other investments in an Apple, Alibaba Nordstrom. um Those are personal investments. I wasn't able to confirm it, but from what I read, he is 100 rc ventures um with gme and everything else is personal so wanted to clear that up i also saw the nordstrom investment i thought it was just really on brand for him because nordstrom is is known for their top tier customer service but i i didn't realize there's also there's some drama going on there, folks. There's so the former CEO of Bed Bath and Beyond is now CEO at Nordstrom. So that's interesting. um He has some beef with them. He thinks he's an overpaid executive. And um hard to argue against that. Something went terribly wrong with Bed Bath and Beyond and they had a file. So I thought that was that was just an interesting note. I just wanted to call that out. um I also, in the research here, this is probably what led me down this rabbit hole of Michael Burry's involvement in GameStop back in 2019, 2020. I miss I misspoke a little bit on some of the numbers. And I called him a multi-billionaire. I didn't realize he's not a multi. He's not even a ah billionaire. Forget multi-billionaire. He's not even a billionaire. So, yeah, there are a few figures around Michael Burry that I think I edited out in the last episode, but I'm going to provide some accuracy there. So just wanted to call that stuff out. And you know what? Today is, um I guess yesterday was Election Day. We got the results today. And I'm not a political person. I'm not going to share any ideas about politics. I'm going to address it. And the only way I'm going to address it here is just by saying, you know what? It's I don't know how to address this, but it's just worth noting, you know, the results happened and I don't think anybody should, you know, dance at the expense of others or anything like that. And I think no matter what side you're on, I think you have your your greatest fears for if the other of the other candidate wins. Will those greatest fears be realized? And I think everybody kind of goes to that. What's the worst case scenario? Oh, my God. um So I would just say if you if you fall on the wrong side of this one. um Yeah, hopefully, hopefully the greatest fears aren't realized. And, you know, just ask the other side to to make sure, you know, they don't prove you right and make your greatest fears realized. So hopefully we can be optimistic about that um if you're on that side. And if you're on the other side, do not dance at the expense of others. That's all I got to say. At the end of the day, damn, elections suck. i Okay. I read something about ah China. It was like China politics. And the response, I forget the context, but the response was essentially, um china Chinese people are surprised that Americans care so much. And their view on politics there is, oh, it's all propaganda. I just thought that was kind of great. And that's how I feel, too. I mean, there's propaganda on both sides. um You know, people are being manipulated for votes. So I just I hate touching it. I'm not a fan of politics whatsoever. So, yeah, it kind of, to me, it just kind of feels like it's the CEO of your company. I don't get a choose who the CEO of my company is. I have to hope they've got the best strategic vision for the company. And if not, um, shoot, you know, how's that going to impact me? And that's just kind of what we have to do to navigate through this. So I don't know. That was me touching on the election. There you go. I'm never going to talk politics on the airwaves ever again. um Okay, so let's get into this one. Let's let's talk about episode episode four where we we're we're gonna ask this question we're gonna ask you know in the original uh michael burry he had a huge stake in in gme um and then he he pulled it out and we know ryan cohen had a huge stake and he saw a lot of opportunity there and he doubled down and that honestly that lit the fuse ah for that explosive January 2021 squeeze that we all saw. So let's go into into those details just a little bit. And starting with just a little bit of a background on Michael Burry. So in case you weren't aware, um he he is famously known for the big short that he did on the U.S. housing market right before the 2008 financial crisis. So his firm, Scion Capital, ah they essentially bought these default swap contracts, um like a bunch of them, before the the mortgage defaults surged in that financial crisis. And that ended up netting his his firm $700 million. dollars It was a legendary trade. Everyone thinks he's a genius. It was a headline event.
00:10:27
Manny Cray
Okay. So he had a ton of credibility from that. That credibility carried on fast forward. What? 10 years later, Michael Burry is still very well known genius investor. um He, he sees opportunity with GME. So with GameStop, and that's kind of his, his thing. He's a deep value investor, kind of like deep fucking value. Keith Gill, they have that in common. They they look for those value opportunities. Where can I find undervalued opportunities, make an investment, and then wait until they reach their value and then exit? That's kind of his strategy. And then of course, I mean, Keith Gill is that way, but he's way more um prone to he he loves the risky ones. He likes the risky investments. Michael Burry likes to be risk adverse. So Michael Burry believed that Jamie was undervalued. He saw the low um price to earnings ratio. There was a solid cash flow at the time. So he purchased is right around. And this is where I love um Richard Newton. Always got a shout out to Richard Newton for doing any GameStop research. You have to have to use this Google sheet. It's amazing. Has everything in there. So I and looked at this Google sheet says Michael Burry first bought GME right around July 9th, 2019 when GME was at $1.35. So great entry. $1.35 enters into GME. At max, we don't really know the timeline here, but at max, he had 3 million shares. And yeah, i I'm realizing, hey, thank you, Richard Newton, because I'm realizing in in those notes in your Google sheet, I did a Reddit post on this. And the notes I had from that, from chat GPT, were not accurate. I'm going to change that and make it match up with um I trust I trust Richard Newton in this one. The at the time manual note taking Richard Newton over whatever information chat GPT is sourced. So calling that one out. Always fact check what you get back from chat GBT. Okay, so yeah, he he grew his stake to about 3 million. And what's he going to do with this? Why is he invested here? He made some recommendations to GameStop ah ah leadership, the board of directors. He recommended that they pursue aggressive stock buybacks. And um I mean, his ultimate goal was basically just to return value to the shareholders himself, basically. So, so they, I mean, GameStop did issue a series of buybacks. And he eventually, eventually saw that it reached fair value when he made a full exe exit. I mean, it was documented full exit ah December 31st, 2020, right when GameStop was around $4.75. So we nearly, what, 4X'd, 3 or 4X'd his investment. That's a pretty good return. um Obviously, we know if he just held for another month, um if he sold at the peak, it could have been like 500 bucks. ah Could have sold at $500 per share. I mean, not many people were able to time it that well. So very unlikely, but I mean, even to $20 range, God, he was so close. He was so close to that, making way more money. um But yeah, I mean, according to Chad GPT, he made roughly $5 million to $15 million in profit. So that's those are pretty good gains. Pretty good gains if you you're making five to 15 million dollars in one year in an investment. Incredible. I might be able to retire on that. Jeez. You know what I mean? But yeah, he could have been close to like half a Billy, three quarter of Billy. He could have made way more money. So I just thought that was interesting. So, OK. So that was his involvement. And then meanwhile, of course we know Ryan Cohen um was involved as well around the same time. And he started building his GameStop position with 5 million shares, right around 5 million shares in August of 2020. So we have Burry, July, what was that? July, 2019. So almost a full year later, just over a year later, ah Ryan Cohen starts investing. So he took his stance as an activist investor. So unlike, unlike Michael Burry, um I guess, I mean, Michael Burry did have, he did influence leadership and talked about buybacks and stuff like that. But Ryan Cohen, as we know, he he saw more long-term potential, long-term potential with GameStop. And he also, so he wrote a letter to the the board of directors and he called out the opportunity in the landscape, the video game industry and all the potential there and how they need to be a digital first company and have a customer obsessed mindset um in a way that delights gamers. And he compared a lot of his success with Chewy um to how they should run their business as well. So let's just go. We'll just let' just look at this letter a little bit. I'll call out a few things that he wrote to them. Okay, so Cohen's letter to the board of directors, the GameStop board of directors. I got it opened up here and a lot of things pop up. A lot of things pop up here. Stand out to me so this was okay so he submitted this on november 16th 2020 and its subject says maximizing stockholder value by becoming the ultimate destination for gamers how exciting is that and he says dear members of the board of directors but okay i'm not going to verbatim. But he basically says RC Ventures, one of the largest stockholders of GameStop. Ownership at this time was 9.98%. He was over 12%, 12.8% can't remember. I'll find out when I go back to the notes ah in December. So at this point, he's at 9.98%. But he underlines and puts in bold game stops leadership should should immediately conduct a strategic review of the business and share a credible plan for seizing the tremendous opportunities in the rapid rapidly growing gaming sector so very pass passionate bold statement He says they need to evolve into a technology company that delights gamers and delivers exceptional digital experiences and not remain a video game retailer, a retailer that over prioritizes its brick and mortar footprint and stumbles around, um, the online ecosystem. So I like that line, um, technology company that delights gamers. That's something that, uh, roaring kitty, deep fucking value. That's something that he, um, that he called out in one of his main videos, uh, shortly after actually, or when was that? It was like in March. Yeah, I covered that one in um episode two. So yeah. So yeah, technology company that delights gamers. All right. And then he calls out a few things, um the opportunity here. So he says the gaming industry is experiencing explosive growth explosive growth um with the global gaming market expected to be 174.9 billion this year and reach 217.9 billion by 2023 GameStop has valuable assets strong brand recognition customer base yeah power of members. There's 55 million of them. And then, yeah, they lost, they lost market GameStop, lost market share to forward looking competitors. He's he says um they can still emerge as a market leader and ultimate destination for gamers. If the board can set a credible strategy for capturing growth opportunities. So Cohen sees a ton of opportunity. He's heavily invested. He's reaching out to the board of directors and saying, hey, wake up, wake up. There's there's a ton of money to be made. Go pursue it. um Yeah, and he calls out the poor performance over time. Just an interesting letter to read. And if if Twitter X, X, if X, Twitter X, would cooperate at MagnificentPod is my handle, at MagnificentPod. I do you post links to these Reddit posts there, so you can access them if you want to see um all the the research and links to this letter is within that Reddit post. So he sees a ton of opportunity. He wants them to make a change. He urges GameStop to adopt the right roadmap to value creation now. And he wants this. He wants this roadmap expeditiously. So he I mean, he means business. Ryan Cohen. He means business. This is what he wants. He wants change and he wants to be involved heavily. So very different from Burry. Very different from Burry. We saw enter a position into GameStop and then all right. GameStop's at $4, just under five bucks. That's fair value to me. I'm Michael Burr. I'm going to sell that. There goes my investment back to normal value. No longer an undervalued company. I'm gone. And he even made comments. He didn't see long term potential at GameStop. And then completely opposite. Michael, Michael, Ryan Cohen said, no, I see a ton of opportunity. And he wrote that in his letter. He doubled down um in December to 12.9% stake, 9 million shares December of 2020. And yeah, active investor sees a long term potential way different than Burry. But both of those thinking of how they both influence sentiment around GameStop during the time you have Michael Burry coming in. Everyone gets excited. He leaves. Everyone sees, um oh, it's fair value now. Okay. That that makes people a little hesitant. But then Cohen doubles down and that re-energizes everybody like okay you know what no actually it's good we got back to our fair value now we can transform kind of like where we're at today now we can transform and ryan cohen has what it takes to get us there so that brings in a whole new wave of interest from retail investors and from institutions um and all those those huge swings in sentiment. I mean, that's what really primes this thing. You're getting a lot of volatility. You're getting more short interest when and Burry exits. And um that creates a ton of pressure when the the sentiment unexpectedly shifts um back to the bulls when Cohen's like, nope, this is good. I'm going to stick with it. I'm going to stick with it. And also, GameStop returning to fair value really helped Cohen focus on those long-term strategies. So it kind of freed him up from all the other stuff that you would normally have to worry about. So yeah, he doesn't have to worry about um other strategies to drive fair value in GameStop's share price or how to stabilize that. The buybacks happened. They're good. They're good. So yeah, Cohen's focused on a strategic vision. He doesn't have that distraction to worry about. He can focus on GameStop's growth and transformation. And that shift, I mean, you think about these huge purchases, um the huge entry, the huge sale of Burry, Cohen's huge purchases that he made in almost like every few months, every 110 days or so, if you will. um you know And how that creates these cycles with the stock and those those FTDs, those failure to delivers, they stack up. So that really primes this entire situation and truly did light the fuse to that January 2021 squeeze. Okay, so what do we hear that could be similar to what's unfolding today in the Requel, the GameStop saga requel. So, okay, all those cycles, all those FTDs, the liquidity cycles, all of that just really lit the fuse. And then I saw, again, Reincoin as the catalyst for the explosion, just with that, you know, his his optimism and his strategic strategic plans that long-term vision so that was really the catalyst where do we see some similarities today um well of course okay do we see any huge purchases that came through of course we do we saw deep fucking value keith gilver and kitty i don't know why i have to i have to say all three every single time but he came back and um back in june uh made some huge investments in gamestop again and ended up being nine million shares matching cohen's investment back in december of 2020 uh roaring kitty bought nine million shares back in j of this year, 2024. So that was similar. And there's some ah ah people are speculating. Nobody can confirm. Did he have to sell that position to enter Chewy? Yes or no? We don't know. But huge purchase. That's creating some cycles. Now, and and just talk about that. I mean, that position alone was, I mean, we're talking a quarter million dollars. So, and at one point, I mean, he said I was a billionaire, which kind of implies he didn't have to sell game stop and could hold chewy as well um but we'll get into that maybe in a different episode but he had a ton of money and i think this is what just in this research i gotta call this out because good for you keith gill wow to leave back in the day what 50 some odd million dollars and the comeback four years later with anywhere from minimum like quarter million, ah quarter billion dollars, 250 million dollars to could be up to a billion at the max. Nobody really knows. That is a huge difference. And I said this at the the top of the podcast. Michael Burry is not a multi-billionaire that I thought he was. His net worth is around 300 million. So that's pretty crazy because that's a guy, um a deep value investor that like Keith Gill looked up to. He had to have had some sort of influence on Keith Gill. And now he's getting a he's coming back. The student has become the sensei. And he's coming back to GameStop with just as much money in his pocket as Michael Burry. That's and insane. And that's his net worth. So Michael Burry's net worth around $300 million. I was looking and I just thought that was such a fascinating comparison. Like, good for you, Keith Gill. um Yeah, I mean, his so Sion, Michael Burry's Sion Capital, his investment firm, they have what's what do my notes say there? Because they have 10 holdings. Yeah. So that firm has approximately 53 million um invested there. So I just think that's cool. So you look at his net worth, we'll call it, mean, it's 300 million um because he doesn't own all of the money from Scion Asset Management. A lot of his investors do. So that's thats just just fascinating to me. So good for you, Keith Gill. You surpassed um one of your idols. That's good for you. Not every kid gets to grow up and be better than MJ. That's cool. Okay, so some similarities. i'm just going to read through these bullets before i get long-winded and and um i talked about this so deep fucking value keith gill his uh end of june investment and end of september divestment this was in chewy so he bought into chewy at the end of june another nine million shares And then he sold it all. um And the filing says it became a 0% stake by September 30th. But I've seen a lot of due diligence and research on Reddit and Twitter X ah that show he, I mean, obviously he was selling before then. And a huge portion of that um ah speculation, 4.2 million shares sold on September 20th. So that to me was reminiscent of Michael Burry's game activity, GME activity, buying large quantities of shares and then selling them. So a little primer, creating some liquidity cycles, and FTDs are stacking up. This influences um you know short percentage. But in this requel, ah there's not a lot of high short interest on GME or on Chewy. There is on the ETF XRT, which we covered in an earlier episode. Tons of short interest over there. So that's why this feels more like a basket play. He's creating a bunch of liquidity cycles and ah FTD surges on both stocks, GameStop and Chewy. And yeah, he so he played Michael Burry on Chewy. That's very reminiscent. I'm buying it. I'm all, you know, everyone's like, oh my God, jump in. And then he's out. Oh, okay. And, you know, certainly some other things are happening over there that has a sentiment shift. Chewy got included in the S and&P 400. So that's creating a little bit of hype, but it's that like back and forth, back and forth, back and forth. That's pumping it up, up, down, up, down, up, down. um So yeah, could that, that be lighting a fuse? I think that's lighting a fuse like, like Barry to blow up the XRT basket. think that's what it's leading to. um Again, speculation, just speculation, entertainment purpose purposes only. That's what all of this is. you know, very interesting. And then so Chewy, Chewy actually had a ah buyback program announced back in May for $500 million. dollars So similar to GameStop at the time, what, you know, Michael Burry influenced for GameStop back back in 2019 that they implemented in 2020. They bought back some shares. So Chewy was doing the same thing. um Very similar. Okay, so we're seeing two major similarities in this requel. And then I had this one down too. Buddy Chester's partners. They sold out in Chewy, which most of it flew into the buyback program. I know Chewy couldn't buy all of that divestment, but they bought most of it. So thinking about that activity, where I'm going to just put that in both categories as, um you know michael burry's uh activity with gamestop back in the day and then also um the gamestop 2020 buybacks it's kind of both so interesting very very interesting and then and okay yes okay so bc partners buddy chester that's actually um they have uh interest in both pets who pet smart who ended up buying out cohen for chewy for 3.3 billion back in the day so that's kind of the party that has um a shared interest in chewy and in pet smart now so it's kind of like a dev investment from um i guess pet smart's no longer investment without that connection i believe i could no don't quote me on that one i don't know anyway thought that was interesting um and then okay so this one gets a little tinfoily um and this is where we're gonna get very tinfoily more speculation more entertainment and nothing else uh because again this could be wrong and even if it's right these strategies could fail and flop so nothing is guaranteed um but yeah june 2nd 2024 um was when keith gill had the gme yolo update uh So after all these years, he went radio silent, comes back, puts on Reddit, I'm invested in GameStop again. And he first did that on June 2nd. And then the that's when, okay, this is where I'm getting it mixed up a little bit. So when I was talking about that divestment from Chewy on 920, there was also people were finding that he had a huge purchase. There was a 4.2 million purchase in GME that day. So same day, I'll have to double check when we think he fully, when a lot of those ex large exits ah from Chewy were. But the speculative purchase of 4.2 million shares um unreported from DFE is on 920, which is interesting because I said this earlier. That's exactly 110 days from ah June 2nd to September 20th. And as you think about these cycles, that's notable. So just understanding the market mechanics is what he's toying with here. And it helps them understand the best entry points. So notably, as I was going deep on this, I saw Ryan Cohen looking at the 2020 activity. He filed a 13D. So he had an investment. It was, yeah, 5.8 million shares on August 28th, 2020. And then when he went all in after, after he sent the letter to the board um and had another filing, a form 4 showing he had 9 million shares. So he increased it by another... Oh, man. My mind was blown for a second. I'm like, wait, by 4.2 million? I thought it was exact, but it was 3.2 million. So increase it by another 3.2 million shares. And this looks like it's playing with market cycles, ah liquidity cycles as well. Because this one is from August 28th to December 17th is 109 days between both dates. So very similar. I think i think this exposed a lot in the in the original um squeeze. I think it is exposed a lot about the market mechanics. And um yeah, I think DFE, Deep Fucking Value was onto it. So I just, hey, I'm just saying I find that very interesting. A lot of similarities to set the stage. So did that set the stage? We know how the stage was set in 2020. It kind of looks like it kind of sounds like the stage has set been set for this requel. um Yeah. And I mean, a lot of this activity, it's it's building pressure. It's building pressure, having the sentiment shifting back and forth on both stocks, GameStop and Chewy. I mean, that's that's building a lot of pressure. That's all I got to say. I don't know how how much how impactful, um but it's building a lot of pressure. So what is I feel like we're just missing one huge sentiment shift to really spark this really ignite this whole thing going forward. And I don't know what that could be. Obviously, I can't predict the future, But I'm asking a lot of questions around it. So what's it going to be? What's it going to be? Here's some of here's some of my questions and i and some things I'm looking for. I mean, starting with the obvious, everybody is expecting Keith Gill to come out with a um another YOLO update. So revealing his position a likely increased position in gamestop greater than the 9 million shares um that he held back in june everyone's just kind of expecting that he's completely out of chewy he has all this cash this cash has to go to gamestop so that's the popular opinion right now. And I like to think he wouldn't do another YOLO update. He would actually have enough money um to legally be forced to to be compliant with SEC and file a 13D or 13G. I think my speculation is could he, I guess my question, could he be wanting to have more of an active role, um, and file a 13 D? I don't know. I mean, he would need about gosh 23 bucks. He'd need around like $550 million of gamestop in order to have five percent ownership um and to be able to file that that 13d so that's quite a bit of cash and again we don't know he might have that much he might there were some implications he has that much money, which is just wild, wild to think about. So if he does that, I feel like that would be more impactful than a YOLO update because now we're showing stability, just like Ryan Cohen. We're showing a sentiment shift where it's like, nope, he's here to stay. He went away or did he? We don't know. But this is showing commitment because if he just does a YOLO update, it kind of makes us think, well, he he did that and then invested somewhere else before. But if you do a filing that locks you in at least for a short amount of time, otherwise you get accused of pump and dump. um Especially if he files with a 13D with intention of influencing leadership, that's different. That would make retail and institutions have a much different viewpoint on GameStop. So that'd be a huge shift, unforeseen shift in sentiment. And what if he does a letter similar to Ryan Cohen? And I think if he were to take an activist stance and write a letter to GameStop, I think it'd be primarily around what was announced for GameStop back in December of 2023. So almost a year ago at this point, where they implemented a new investment policy that allowed Ryan Cohen to invest on GameStop's behalf in a wide range of securities, including stocks. So Cohen, as we discussed in the last episode, has a great track record as an investor. So Keith Gill, obviously he grew, what, $50,000 to $50 million to potentially half a billion, at least $250 million. So he is also an incredible investor the great investor with a great track record. So if he were to write a letter and take an activist activists approach, I would think his passion would be around how GameStop invests their cash. I think he'd try to guide their investment strategies. And that would be the role he'd want to take. So if he's doing that, and if GameStop has his backing in pursuing investments in other stocks, if he repeats history and goes from $50,000 to potentially $500 million with GameStop's cash, they're $4.5 billion dollars in cash. If you've got Ryan Cohen and Keith Gill investing that with their track records, that is a game changer for GameStop. That would come completely fuck over every short, every hedge fund that's ever been against GameStop. That's a ah raging bull thesis right there. And it's not foolproof. It's definitely not foolproof. um It's risky. They could lose a lot of money. But holy shit, if that that continues, if their track record continues, that would really allow them to to transform as a company. Have $4.5 billion, dollars turn into billions more, and do whatever the hell you want. You know, achieve your wildest dreams is what that Now, would be. that's probably my favorite question, my favorite speculation around this. I was also speculating around, you know, his involvement with Chewy. You know, was that that kind kind of like was he trying to create a setup with chewy and i went back and forth like i don't know short interest is low i don't think that's it i think it's more of a basket play but he could be if that was the case is he trying to like create a similar setup and entice cohen like hey leverage that investment policy invest in Chewy I set it up perfectly the charts looking great I don't know I haven't done the to due diligence over there I was just curious or kind of in the same vein you know was kind of priming it up for like a really good here's a good merger target for you Cohen and again it's his former company that he sold so it's I'm sure he'd love to have some sort of stake in it again especially if he's trying to build infrastructure for GameStop by expanding the retail footprint yeah it could make sense so I don't know if that was his intention but it could have potentially potentially created a really good setup. Who knows? Who knows? Not my favorite one. I already live my favorite one. So yeah, I guess that's all of it. I guess it comes down to those four. Is is deep fucking values intention to blow up the basket with all these moves, all these cycles, all these FTDs. um Is he going to come back into GameStop with a significant position, try to influence leadership and be involved in guiding some of those investment strategies? Perhaps. um Yeah. or Or is he trying to set up GME to be a really good stock investment for GameStop or a good merger target? Those are my questions. So I see a lot of similarities in this requel. And I see um if these questions end up being true or some of them being end up being true. He's essentially playing that role of Michael Burry and playing the role of Ryan Cohen. So that's where I get the, Ooh, in the recall, is he playing both roles? Michael Burry and Ryan Cohen is Keith Gill. Is he Michael Purry? And is he roaring Cohen? That's the question. That's the question. We don't know the answer. This is just fun speculation. I guess we're gonna to have to wait and find out. And in the meantime, we're going to have to listen to this shitty steel rap. I'm going to try to redo this at some point, but for now you're just going to have to deal with it. Bye everybody.
00:43:30
Manny Cray
Thank
00:43:35
Manny Cray
you.