Chamath Palihapitiya Said He 'Will Win' Vs Ken Griffin on GameStop (GME)
Chamath Palihapitiya stepped up his trash talk on GameStop (NYSE: GME), after earlier taking a call option position in the short-squeezed stock, saying he will beat market titan Ken Griffin.
"I will win", Palihapitiya said after ZeroHedge tweeted, "It's not reddit vs Ken Griffin... It's Chamath vs Ken".
ZeroHedge was referring to the fact that Ken Griffin owns Citadel, one of the largest market makers and buyers of order flow from retail brokerage firms. Yesterday, Griffin (along with Steve Cohen of Point72) bailed out Melvin Capital for its short-gone-wrong in GME. The two invested $2.75 billion in Melvin, with $2 billion coming from Griffin's Citadel.
Palihapitiya entered the fray on GME this morning, tweeting he bought the $115 calls.
Shares of GameStop are up 350% year-to-date, with large recent gains attributed to retail investors on Reddit forum Wallstreetbets attempting to drive the stock higher in a coordinated effort to squeeze short-sellers.
I will win. https://t.co/n6f72v7rgl— Chamath Palihapitiya (@chamath) January 26, 2021