GameStop CEO Ryan Cohen has stated in a live Fox Business interview that he has “no respect for short sellers”, in ‘Making Money’ with host Charles Payne.
“It’s a free market, if you want to be on the other side, no problem. If things work out, then those shorts ultimately need to cover and, you know — that could ultimately be a good thing,” the CEO stated.
The interview, released just two months ago, has resurfaced on X as retail investors continue to stand behind the company, hoping for another short squeeze.
“I don’t really have much respect for short sellers, and someone who’s ultimately not smart enough to find someone successful, they have to bet on someone’s failure — but if things work out, they gotta cover, so,” Cohen said.
Ryan Cohen Address Real Industry Challenges
The sale of GameStop’s collectibles has allowed the retailer to stay ahead of the competition as store closures grow across America.
For example, brick and mortar stores have faced a slew of shutters as a result of a growing digital landscape.
Popular mall retailer Foot Locker just announced it will be closing a whopping 400 locations by the year 2026.
In ‘Making Money’ with Charles Payne, Cohen is asked about the industry challenges that without a doubt have affected GameStop’s business model.
“We moved the business from a big reliance on hardware and software to collectibles, and so we’re selling a ton of trading cards, both sports and TCG, and it’s a much more durable business.
Generally, the business is much more efficient. It’s gonna be a smaller, less stores, but more profitable company.
And most importantly, we’re generating profits every single quarter now,” Cohen explained on air.
GameStop As a Symbol of Wall Street Rebellion
Among the topics of short sellers and industry challenges, Cohen also addressed what GameStop means above simply being a retail business.
“It’s all a scam, it’s F*** u*. You look at private equity, you look at venture capital, you look at all these pools of capital, which really exploded since the financial crisis, and it’s all perverse financial incentives.
They don’t f**** care if they make money for their LP’s. They’re getting management fees.
So, they want to deploy the capital as quick as possible, and they’re great at sales and they’re making two and twenty, and even if doesn’t go up, they’re still making 2%.
I’m a retail investor, so I make money if the stock goes up and I don’t make money just by going and sitting on my hands. I only make money if the business does well, so that was the setup of the trade.
You basically had all these elite’s, fancy hedge funds, and private equity, and everyone else who knows who was shorting the stock.”
You can watch the full interview on ‘Making Money’ with Charles Payne here:
Shares of GameStop (NYSE:GME) are currently trading at $26.34 at the time of this writing.
Also Read: How To Invest in Stocks For Beginners: Step-By-Step
