GameStop shares are up more than 800% since his declaration, and the value of Cohen's stake has skyrocketed to about $825 million. Given how volatile GameStop stock has been, it’s not clear how long Cohen will hold onto his billionaire status. The momentum came to a head in recent days, after storied Wall Street shop Citron Research went public with a short on GameStop shares at $20–about one-fifth of current levels. Reddit traders seem convinced he'll bring the same growth to GameStop, but Wall Street experts are much more skeptical. “It doesn’t make business sense,” Doug Clinton, the cofounder of Loup Ventures, told Bloomberg Monday of GameStop's retail trading frenzy.

Source: Forbes January 26, 2021 20:48 UTC