#MansaMusaMentality
#HuntinPacks - designates investments I made alongside someone in my network
#BreakfastClubforStocks - get your Sherlock Holmes on with news, reports, and data for stock investments ideas
This post is a part of #MansaMusaMentality series and how I use my extended network to invest. Almost like case studies (known as "Details"), I'll highlight how these contacts guide me on investments such as buying real estate, stocks, precious metals, cryptocurrencies, etc. And I want to foster a community culture, so I'll show you how I learn from them and maybe in the future we can crowdsource or here we call it #tribesource investment ideas for the future.
"Detail" - A Breakdown of my GameStop (GME) Investment
Year: 2020/21
Throwback Link: N/A (New Investment)
I think this may be the first time I've revealed my Dec 2020 position in GameStop. This "Detail" is about how I found this investment. Quite simply, I kept my ears to da streets. My life is not dedicated to stocks because it's not my main hustle but I do my research, use my network of connections, and make smart informed decisions. Because I've amassed a nice investment empire, not the size of Mansa Musa, and I'll be damned if I leave it to someone to eat all my profits. Just like how I listen to the Breakfast Club for the culture, I listen, read, and aggregate data for that stock culture. Again, if I have time for the Breakfast Club morning show with Charlamagne tha God... I can also make time for my stock version of the Breakfast Club. What's your excuse??
I won't be putting this stock in my #MansaHallofFame because I didn't back that thang up and load up like I have with other investments but I'm very happy with how it's performed thus far. So how did I find this stock? I got my Sherlock Holmes on and did my own research. I keep a log of my research and ideas so don't test me.
How do I get my Sherlock Holmes on? Depending on your age you might prefer: X-Files, Murder She Wrote, Columbo :) Well I methodically research data and back in September 2020, something made me pause and want to learn more about GameStop. It also led me to a really cool dude who wasn't in my network. Here's what I found:
Stock Investment Idea: GameStop (GME)
New Squad Member: Ryan Cohen, RC Ventures, Net Worth: $600 Million to 1 Billion; made his money by co-founding Chewy which was sold to PetSmart for roughly $3.3 Billion. I won't get technical but Ryan is creeping on the doorstep on entering into my #ABilliSquad network. My research showed back in September 2020, that Ryan amassed a roughly 10% stake in GameStop. Interesting decision for a struggling company. Being a value investor, I was drawn to this stock and the idea that he might be able to turn the company in a new direction but they are so dependent on stores. Do you remember the picture of Gamestop employees having to hand games through a partially cracked door during the COVID pandemic to stay afloat...where was their internet presence??
So I hit Ryan up for more information and through a Fox article learned that he wanted to shake up the direction of the company. He was questioning why customers couldn't trade games online or have more streaming options, why weren't they a bigger e-commerce retailer, and why was management so slow to implement these obvious changes?? So it appears we agreed, handing out video games through a crack in the door isn't a sound business strategy during a pandemic when Amazon and other are open 24 x 7. More importantly he was interested in getting board seats to force the hand of the company if he had to. So I decided to start tracking GameStop like TMZ does Hollywood celebrities. I was following the stock as it's price kept slowly climbing and then another bit of research cemented my decision to invest in GameStop in December 2020.
Investment Takeaways: This pick was due to my extensive research, #BreakfastClubforStocks, which gave me a risky investment idea to consider. Also, I built my network in the process and learned about another great young investor Ryan Cohen, and yes technically I joined him... #HuntinPacks
Outcome:
Using this chart, the Orange Star represents when my research first alerted me to the GameStop trade (Price Range is shown using the Orange Arrow). It was risky and needed more vetting (Trust But Verify)...so as my buddy says I let the trade marinate for a bit and watched it closely, TMZ style. In December, the Green Star signifies when my research brought me more information. Along with the rising stock price, this information was enough to cement my decision to make my investment.
This image shows the trade I made on December 22, 2020. GME represents GameStop's ticker and $13 is the price where I initiated a trade. So yes, I'm very happy with this trade.
How is GameStop Corp doing today:
1/22/2021 Stock Price:
SUBSCRIBER ALERTS - are coming soon. Clearly, I've provided enough information that you can go back and source a number of the articles, videos, or interviews that helped inform me of this potential investment. I want to be apart of the process of you growing your network. Timely introductions to investments and investors is a game changer. Remember Ryan now owns 13% of GameStop, a $4+ Billion dollar company. My research gives you the catalyst you need to make an informed decision and grow your investments. MORE COMING SOON
#Tribesource -- Do you have an investment idea, back by facts that you want me to analyze further? Feel free to send them my way.
What do Reddit Day Traders Think:
Courtesy of Bloomberg:
Reddit’s ‘Angry Mob’
A backlash against Citron by some vocal Reddit users over its views on GameStop came to a head on Friday when the short seller said it will stop commenting on the stock following the actions of “an angry mob.”
“We are investors who put safety and family first and when we believe this has been compromised, it is our duty to walk away from a stock,” Citron managing partner Andrew Left wrote in a Friday letter.
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