But the reality is more complicated. The GameStop-Hype brings a hedge Fund called Senvest Management a profit of $ 700 million, as the Wall Street Journal (WSJ) reported. The two Senvest Manager Richard Marshaal and Brian Gonick had bought the shares of the game chain already in September – and, therefore, long before investors moving the share price to almost $ 400.
“When it started, we thought that, as on the verge of something,” says Senvest-Manager Marshaal, “But we had no idea how crazy things would be”.
Senvest had acquired the shares of the game dealer, according to an investors ‘ conference last January. At the time, most analysts saw the prospects for the papers skeptical. Long computer to be sold games especially online – the business model of GameStop, with its numerous branches, acting abundant antiquated.
However, the two hedge Fund managers were apparently due to the GameStop Management change his mind and to trust the company to master the digital transformation. At the end of October Senvest held more than five percent of the GameStop stock. For a majority of the shares of the Fund is less than 10 US should have paid a Dollar.
In January, Senvest uses the opportunity for the first sales. After then Tesla CEO Elon Musk has reported via Twitter to word and the GameStop-Rally leading to a renewed use of the Fund Manager, the high prices and sold their GameStop shares completely. “It was hard to imagine that it could be crazy,” said Senvest-Manager Marshaal.
Thanks to the good timing of the flagship Fund of the company that managed the last 2.4 billion dollars was able to generate, in January, a yield of 38%. For Senvest GameStop was the last the most profitable Investment.
Other funds have benefited from the rise of GameStop and others on Reddit recommended shares, said Thomas Peterffy, the Chairman of the trading platform Interactive Brokers. “There are great players on both sides.”
Senvest has been made to follow the discussions on social media about individual stocks in the future, more accurate, says Fund Manager Gonick. “I would not assume that the past is the past”.
