GTX - EXCLUSIVE: Early GameStop Investor Is Looking Elsewhere For Opportunity — 'If You Play Stupid Games You Are Going To Win Stupid Prizes' | Benzinga
Rod Alzmann, founder of GMEdd.com, was a big supporter of GameStop Corp (NYSE:GME) when seemingly no one else was interested. Now that the stock is running wild, he’s looking to put money to work elsewhere.
What To Know: Thursday on Benzinga’s YouTube show “Benzinga Live,” Alzmann detailed some of his earliest investments in GameStop, long before it ever became a meme name.
Alzmann first bought GameStop shares in the early 2000s. It was actually the first stock he ever invested in, he said, adding that he ended up selling it for a profit while he was in high school.
Towards the end of 2017, he decided to buy into the stock again. As GameStop shares traded lower in 2018 and 2019, he kept increasing his stake until his GameStop position represented a majority of his investment portfolio. At that time he was down over 50%, he said.
“It was a very painful multi-year experience,” Alzmann said.
“I loved GameStop ...