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re: GME short squeeze
Posted on 1/19/21 at 12:22 pm to itsbigmikey
Posted on 1/19/21 at 12:22 pm to itsbigmikey
quote:
All in all, the downside of owning shares is minimal (IMO). Do some research on Cohen and how he managed to turn Chewy into what it has become. The man is a genius and is a determined business mogul; he tapped into the passion that people have for their pets and created a business that encompasses value while being able to compete logistically with Amazon. Passion for gaming is strong and only getting stronger, and I think it is only a matter of time before he is behind the helm and leading the company in a new direction.
Cohen did a lot of good things with CHWY but the current CEO Sumit has done equal if not more for them. Cohen has had absolutely nothing to do with the company since 2018.
Posted on 1/19/21 at 12:44 pm to hiltacular
quote:
Cohen did a lot of good things with CHWY but the current CEO Sumit has done equal if not more for them. Cohen has had absolutely nothing to do with the company since 2018.
Fair enough, but he had a vision and implemented it successfully. If he has a conviction to do it again I'm going to go out on a limb and put a few eggs in that basket.
Posted on 1/19/21 at 12:57 pm to hiltacular
quote:
Cohen did a lot of good things with CHWY but the current CEO Sumit has done equal if not more for them. Cohen has had absolutely nothing to do with the company since 2018.
Yes but Cohen has a specific set of ideas here that he’s proven he can execute through Chewy and he has himself and two key members with him to assist with those changes for GameStop. The sale to PetSmart and the subsequent IPO have been huge for Chewy’s valuation, but Cohen set the company up for long term success and believes the same model can work for GameStop, which is already cash flow positive and working towards a turnaround. Cohen is adding expertise at e-commerce, customer service, customer retention, and high margin revenues. GameStop needs a ton of help with the e-commerce aspect specifically, it’s something they’ve lacked but making great strides now
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