He also streams Youtube videos talking about how undervalued Gamestop is and why it is considered a “deep value” stock. He would later be questioned by the House Committee on Financial Services as to his motives. GameStop would eventually be labeled an “idiosyncratic risk” by Treasury’s 2021 Annual Financial Stability…
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Through a letter sent by RC Ventures, he informs Gamestop of its unique position and potential to become something much bigger. The actual letter from RC ventures can be read on the SEC site here.
Some brokers immediately suspend and prevent Gamestop stock from further being purchased/bought. Considering that this is supposed to be a “free” stock market based on supply and demand, this should not happen. This creates more questions, concerns, and interest from investors around the world.
This will be a daily recurrence with hundreds and hundreds and possibly thousands of articles getting published telling people to “Forget GameStop”.
This makes a lot of sense. Why do they care so much? If it is garbage or a “bad buy”, why does it matter? And who would investors even sell to if its such a bad stock? Just about during this time is when they start publishing thousands of articles…
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The above is his reply to what he thinks will happen with these companies that were trying to bankrupt GameStop and placed “all in” type bets that GameStop would fail (go bankrupt).
His is referring to the event that happened on January 28th, 2021 where a restriction was placed on GameStop that prevented it from freely trading in the stock market.
