Senvest Management began buying stock in GME in September 2020, not getting caught up in the short-selling mania in the company.
Their work included:
- speaking with management
- assessed competitors
- noted the involvement of activists in the stock
Says the Wall Street Journal:
- By the end of October, Senvest owned more than 5% of the company, paying under $10 a share for the bulk of the stock.
- They thought that if GameStop could hold on until the next generation of videogame consoles came out and stoked demand for games and accessories, the company would get a boost. And they reasoned that if Mr. Cohen could help transform GameStop from a largely bricks-and-mortar operation into an online gaming destination, the company could be worth far more.