The end of Bill and Melinda Gates’ marriage is just the first in what will be a series of multi-million dollar divorces, and all is bullish for GME shares of GameStop, -0.91%. And it was just another Tuesday on retail investor social media.
The announcement that Bill and Melinda Gates are getting divorced took the entire world by surprise, but on Monday night Reddit r / GME board members had discovered a nearly two-month-old post from user Jobom3 linking an increase in Shares borrowed from GameStop to the likelihood that billionaires hedge funders and their wealthy investors were increasing their short positions as part of a plan to prepare for their impending divorces. On the morning of March 11, a Reddit post noted that more than 1 million GameStop shares had been loaned in pre-market stocks, a sign that pro-GameStop Redditors interpreted as a sign of a new skirmish in the Ongoing conflict between hedge funds trying Briefly GameStop into oblivion and Regular Joe investors hell-bent on proving that the video game retailer is fundamentally undervalued and shouldn’t be killed by wealthy Wall Street traders playing a rigged game. “Another Million ETF Shares Taken Before Trade …” shouted a Reddit post headline that morning, with a screenshot showing the availability of GameStop ETF shares exposed to the action. Minutes later, Jobom3 spoke with this theory: “I think they are just buying time to secure their personal assets,” the comment reads. “Transfer them abroad or divorce their wives and put the money in their name. Tricks like that. At least that’s what I’d do. “While the comment didn’t get much attention on March 11, it broke out Monday night after news of Gates’ split fell, with users clamoring to credit Jobom3 for see the bomb coming. “WHAT ELSE DOES THE PROPHITE KNOW?” One user replied Monday night. “Is Bill Gates and Melinda Gates just the beginning?” Another posited. “My man has all the infinity stones,” added another. Those comments quickly turned into a bullish argument for him. GameStop’s value, and users rallied around the theory that Bill Gates disengaging is a big data point in support of Jobom3’s thesis that at least some wealthy GameStop short sellers are struggling. against short shrinkage as a hedge to protect your assets from the possibility of a market implosion that will lead to an army of greedy ex-spouses. Historically, stunted markets have been poor indicators for hedge fund managers, and see two of the richest men in the world, Microsoft MSFT, -1.62% from co-founder Gates and Amazon’s AMZN, -2.20% Jeff Bezos, announcing the end of long marriages.In less than two years can be interpreted Tired by those who want it as a trend that is still booming. But while tying the coming joy of white-shoe divorce attorneys to GameStop’s performance may seem difficult, it was easier than it might seem to GameStop’s Reddit army. “Maybe not directly to GME,” mused one user, “but [Bill Gates] he probably has money invested in hedge funds and other investments that are falling when they all liquidate and the market crashes. “Gates invests most of his family wealth through Cascade Investment LLC, one of the largest family offices in the world with more than $ 50 billion in assets and, according to regulatory documents, primarily invested in large-cap stocks such as Deere & Co. DE, + 1.55%, Berkshire Hathaway BRK.B, + 0.39% and Canadian National Railway CNI, -0.37%. While any exposure to GameStop, whether direct or indirect, in Gates’ portfolio is difficult to see, the stock is having an interesting day. After falling more than 5%, GameStop is it recovered in afternoon trading and closed the day with a drop of just under 1%.