/biz/ - Business & Finance

>>58561833
>Check again. He’s up like 200 million dollars since premarket opened
You miss the point. When DFV went silent in 2021, he had half as many shares at a cost basis equivalent to $40 today ($150 pre split)
At the time, this was the majority of his net worth. He shared the remaining cash balance too. Either he made bank trading other positions for 3 years, or more likely he was the whale buying calls before he started pumping into the May expiry - generating a 30x return on a few mill worth of calls.

>greatest investor of our generation
Pump and dumps are not investing. He's siphoning money from his followers. It's like calling Kylie Jenner an investing legend. You could argue the first wave of profit was a successful exit from a short squeeze, but every dollar he has earned on the two recent pumps is because some retard bought GME at a peak while he was silently cashing out call options and spamming memes.

Important to understand that even in a very extreme short squeeze like 2021 GME with 100% short interest, there'll be a synthetic 200% long shares in existence of which only 100% - half - could exit to short liquidations. A short squeeze is still a pump and dump in the end. Unlike a pure pump and dump, some shareholders can exit profitably at expense of those shorts, but it's only possible because other retards take the long term loss as shares trade back down towards fair value. All the GME cultists that bagheld down from 2021 to today were in that second boat.
The key is understanding "100%" short interest is really 50%.

This is, of course, assuming the numbers presented are not a total larp. This recent action is more reminiscent of the Zach Morris modus operandi than the historic roaring kitty style.
This sort of market manipulation is a violation of the securities exchange act. That said, our current SEC is highly incompetent and has repeatedly failed to meaningfully enforce said laws. It's unlikely anything will come of DVFs recent abuse.