$GameStop (GME.US)$ let me put this out there. everybody wha...
$GameStop(GME.US$ let me put this out there. everybody what is your opinion.. what should Ryan Cohen do with some or all of the billions of dollars that they're now sitting on?
I'll start off I think right now today he needs to buy at least one billion dollars worth of bitcoin. I know he couldn't do it today because the price would go parabolic but he should gradually start accumulating every day Bitcoin. why sit in a treasury and earn 5.1% every 3 months and roll it over it is a lot of money it's more money than the business actually earns Buffett does it by the way Apple does it right when they're not buying back stock.. but if he follows the path of microstrategy mstr, Michael Saylor. then GameStop will be afforded another premium value just like microstrategy . so rather than sit in cash or Treasury by buying Bitcoin it gives that significant upside potential so the stock should trade at an immediate premium to the current level and sustain itself at higher levels all the time.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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Ken Griffin Charity : He has PTSD from crypto. GameStop wallet crash and burned in 18 months.
10baggerbamm OP Ken Griffin Charity : I wound up in the hospital several years ago from eating sushi but that didn't stop me from going back again. but anybody else he may have been burnt but look at the characters that were involved during that window when it happened and look what has happened since. as the saying goes you got to get back on the horse that threw you.
104624381 : Certainly would like to see him do something along the lines of Web 3.0. Just investing the cash into something else would be boring, even though it is probably the more profitable route.
Ken Griffin Charity 10baggerbamm OP : The guy’s got a reputation to maintain. He was hailed as the e-commerce genius from chewy who would grow GameStop’s online presence. His big plan after joining the board was crypto and NFTs and that failed. He isn’t always going to get roaring kitty meme moments to raise cash, so getting back into crypto with all that miracle cash is not going to buy him any goodwill with the rest of the board.
10baggerbamm OP Ken Griffin Charity : so I partially agree with your last statement it may not win points with the people that are his fan base his loyal apes however it will introduce new investors that don't want to pay up for microstrategy stock that don't want to buy the mining companies because the regulation issues that hold Bitcoin it creates an alternative venue. how many people would this be I don't know but one thing is for certain Ryan gets Free press he never pays for any advertising so if he were to say next week he's bought a billion dollars worth of bitcoin I got news for you the stocks going up 10 to 15 points on that news I can basically say with an extremely high degree of confidence that that's the minimum price movement upwards that you would see and I think it would be sustained for much longer period of time than the whipsaw movement that you're seeing now
10baggerbamm OP Ken Griffin Charity : failing is not a bad thing in business strange is that sounds recognizing something is not working stopping the hemorrhaging of losses of capital and pivoting to use that word that everybody likes to use nowadays into a different direction or regrouping that is what leaders do that is what winners do because if failing was not part of business was not part of life we would not have electricity right now because Edison failed hundreds of times to make a filament and he learned every different way not to do it and one the right way to do it. so I don't criticize somebody for failing I applaud them for learning and understanding and recognizing that it's not working and they need to change and do something different