Re:Ask HN: Are there any other youtubers like u/deepf***ingv...
by BoysenberryPi on Sunday January 31, 2021 @06:39PM
(#25983803)
I disagree with this. He made his position on Gamestop known a year ago and people on WSB laughed at him for it. I wasn't until the stock rose to $20 and he posted that he made 11 million on calls and people realized a short squeeze was possible that it turned into a meme.
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Re:Ask HN: Are there any other youtubers like u/deepf***ingv...
by runawaybottle on Sunday January 31, 2021 @11:37PM
(#25985583)
Right. And to the GP’s point, would it have happened without the meme squeeze (the small growth potential) - yes.
I considered GME calls in December where it was hanging out in the $17 range. Ryan Cohen and the Chewey cohort added to a positive outlook given new leadership. Similarly, there was bullish sentiment that the next gen console sales would manifest at April earnings. People thought by April earnings it could go to 40.
So yeah, buying that early with those two growth prospects was sensible.
The squeeze became the second part of operation, but the first was a sensible position based on modest assumptions. In fact, it was truly crazy of the hedge funds to think GameStop would be out of business this soon with ps5/xbx just launching.