Originally Posted by
Nantonaku
Palihapitiya manipulated the market by announcing he was buying GME on Twitter(he has 1 million followers). The next day he sells all his shares. How much did he make? Just like Ackman announces on CNBC last April the world needs to shut down and then throws in millions of dollars into the market at the low points he helped to create and proceeds to make almost a half billion dollars. I agree with Chamaths sentiment but he isn’t a friend of the common man.
You’re right, he’s a grandstander, but to give him credit, he donated the whole investment and profits to barstool sports which will donate it to small business’s struggling.
He was also late to the party when he bought shares, but early enough to ride the massive wave.