Bond-King Bill Gross earned millions with bets against Gamestop and AMC. Now he warns of new meme shares-and sees Gamestop more on Bitcoin traces.
• Millions of gain with bets against Meme shares
• He rejects new hype titles such as OpenDoor or Kohl’s
• Gamestop share last with weak performance
In the past, Bond-King Bill Gross has made millions of gains with bets against Meme shares such as Gamestop and AMC. In the spring of 2024, he also sold PUT and CALL options to benefit from the hype to the share. However, he does not want to know anything about new meme titles such as Opendoor, Kohl’s & Co. how he explained to Business Insider.
Large skeptical of meme shares
Gross, who has been a confessing skeptic of meme shares for years and described them as “lottery boxes”, set against Gamestop at the climax of the Meme shares in early 2021. At times it was $ 15 million in the minus. Nevertheless, he even doubled his commitment, which ultimately paid off: he later said that he had earned between $ 15 and $ 20 million with his bets against Gamestop and AMC.
“I knew that I had an advantage over Reddit and the boys,” said Gross according to Business Insider about his betting at that time. He described buyers of overpriced options as “inexperienced players at the poker table” and explained that every buying frenzy ended that everyone tries to get out first.
Gamestop “seems to imitate Bitcoin”
Although large games still consider “good candidates for the option sale”, the stock of the video game dealer behaves “no longer” as a meme share “. The shares are “significantly less volatile” than before. Instead, according to the billionaire, the Gamestop share seems to “imitate Bitcoin”.
And in fact there are parallels when looking at the price movements: Bitcoin and Gamestop share were able to grow in the last quarter of 2024. Then it went down again until around the end of March / early April. A relaxation followed until around the end of May. At the end of May, Gamestop announced his first Bitcoin purchase. The company acquired 4,710 coins of approximately $ 537 million. But then the development diverge: While the Bitcoin always reached new records (the oldest and best-known cryptocurrency reached a record high at over $ 124,000 on Thursday), the Gamestop share fell after disappointing results in the first quarter and watering share sales.
Gamestop share last weak
In the past 12 months, the Gamestop share has been in a range of around $ 20 to $ 35. During this time, the share was able to grow around 1.6 percent – however, the shareholders have lost more than a quarter of value since the beginning of the year and currently costs $ 22.89 (as of 14.08.2025).
At Tipranks, 2 WALL Street analysts have given 12-month course goals for Gamestop in the last three months. Of these, one advises to keep the stock and someone to sell the paper. The average price target is $ 18.50, with a high forecast of $ 23.50 and a low forecast of $ 13.50. The average price target corresponds to a change of -19.18 percent compared to the last course.
Editor finance.net
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