Posted by a member of the Reddit r / GME investor forum in March that speculative billionaires added short positions to GameStop Corp(NYSE: GME), before the impending divorce, is now seen as a bull case for the value of video game retailers.
What happened: After the announcement of the divorce of Microsoft company (MSFT) co-founder Bill Gates and his wife Melinda Gates on Monday, a member of the Reddit r / GME committee, discovered a nearly two-month-old post by user Jobom3 linking a sharp rise in GameStop borrowing and the possibility that the billionaire is preparing For the divorce, as MarketWatch observed for the first time.
A Reddit post on March 11 states that more than a million GameStop shares were borrowed from exchange-traded funds (ETFs) in the pre-market hours. The move is seen as a new confrontation in an ongoing battle between hedge funds trying to keep GameStop short and investors looking to prove the company is undervalued.
In response, Jobom3 said, “I think they just bought time to keep their personal property. Move them abroad or divorce their wives and put money in their names. A trick like that “
Members of the Reddit committee credit Jobom3 with Gates’ divorce prediction and noted that the divorce supports their speculation that some wealthy GameStop sellers are grappling with a short squeeze in their bids. To protect their assets from the possibility of the market exploding
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Why is this important: Building a company like Microsoft helped Bill Gates generate a wealth of wealth along the way. Gates left Microsoft in 2008 to focus on his philanthropic endeavors.
In 2000, Gates and Melinda started the Bill & Melinda Gates Foundation, the world’s largest private charity, with a trust of $ 49.8 billion.
The latest regulatory filing by the Foundation discloses the ownership ratio as of December 31, 2020 in Amyris (NASDAQ: AMRS), Atreca (NASDAQ: BCEL), Biotech SE (NASDAQ: BNTX), Curevac NV (NASDAQ: CVAC) and For Biotechnology Inc. (NASDAQ: VIR), however, the filing did not show any ownership of GameStop shares.
Price action: GameStop shares closed 0.9 percent lower during Tuesday’s regular trading of $ 160.73, but added 0.7 percent during after-hours to $ 161.89.
Read Next: 5 Things You Might Not Know About Bill Gates
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