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News of the divorce of Bill and Melinda Gates Suitcase for GameStop? What you need to know – Gamestop Corp. (GME)

Post by a member of the investment forum Reddit r / GME in March, which suggests that billionaires are increasing their short positions in GameStop Corp. (NYSE: GME) before their impending divorce is now seen as a clear case of the value of the video game dealer.

What happened: Following the divorce notice of Microsoft Corporation Co-founder (MSFT) Bill Gates and his wife Melinda Gates on Monday, members of the board of Reddit r / GME opened a nearly two-month post of user Jobom3, which links the jump in game shares of GameStop with the opportunity for billionaires to prepare for their divorce. first observed MarketWatch.

A March 1

1 Reddit publication noted that more than one million GameStop shares had been borrowed from exchange-traded funds (ETFs) in the upstream market. The move is seen as a new confrontation in the ongoing battle between hedge funds trying to shorten GameStop and investors looking to prove the company is fundamentally undervalued.

In response, Jobom3 said: “I think they are just buying time to secure their personal assets. Moving them offshore or divorcing their wives and putting the money in their name. Tricks like this. “

Reddit board members acknowledged Jobom3 for predicting Gates’ divorce and noted that the divorce supports their speculation that some wealthy GameStop short sellers are struggling with the short press in an attempt to protect their assets from market implosion.

See also: Just call them ETP: WallStreetBets founder Jaime Rogozinski Launch portfolios

Why it is important: Starting a company like Microsoft helped Bill Gates build great wealth along the way. Gates left Microsoft in 2008 to focus on his philanthropic endeavors.

In 2000, Gates and Melinda founded the Bill and Melinda Gates Foundation, the world’s largest private charitable foundation with a donation of $ 49.8 billion.

The latest regulatory declaration from the foundation revealed ownership shares as of December 31, 2020 Amiris (NASDAQ: AMRS), Atreka (NASDAQ: BCEL), BioNTech SE (NASDAQ: BNTX), Кюревац NV (NASDAQ: CVAC) and For Biotechnology Inc. (NASDAQ: VIR). However, the declaration does not show ownership in shares of GameStop.

Price action: Shares of GameStop closed 0.9% lower in the regular trading session on Tuesday at $ 160.73, but added 0.7% in the session after business hours to $ 161.89.

Read Next: 5 Things You May Not Know About Bill Gates

Photo courtesy of EPIC via Wikimedia

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