{"id":36270,"date":"2021-02-11T13:42:43","date_gmt":"2021-02-11T11:42:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36270"},"modified":"2025-08-29T05:29:38","modified_gmt":"2025-08-29T02:29:38","slug":"justin-sun-stays-in-gamestop-stock-as-shares-fall-80","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/justin-sun-stays-in-gamestop-stock-as-shares-fall-80\/","title":{"rendered":"Justin Sun stays in GameStop stock as shares fall 80%."},"content":{"rendered":"<p>Tron founder Justin Sun, in an interview with <a href=\\\"https:\/\/www.bloomberg.com\/news\/videos\/2021-02-11\/tron-founder-justin-sun-bets-on-meme-investing-video\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\">Bloomberg<\/a>, said that he is holding long positions in the hype stocks GameStop (GME), despite a sharp drop in their market value. He attributes this to the staying power of the so-called meme investing.<\/p>\n<p>In early February Sun assembled a portfolio of assets, <a href=\"https:\/\/u1f987.com\/en\/news\/justin-sun-loses-7-5-million-on-wallstreetbets-bets\">promoted by members of the r\/WallStreetBets community on Reddit<\/a>, which, after two days, delivered losses of 70%. Investments in 31,900 shares of GameStop were valued at $10 million. As of the close on February 10 their value stood at $1.63 million.<\/p>\n<blockquote>\n<p>\u201cI think I will hold. Even if I lose money on GME shares, I believe this is a paradigm shift. In the past we all followed the advice of financial analysts. Nowadays people make their own decisions,\u201d he said.<\/p>\n<\/blockquote>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"jWIWwSWwsq\\\\\">\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-at-the-centre-of-the-gamestop-dogecoin-and-reddit-trader-scandal\">Robinhood has landed in the epicentre of the scandal surrounding GameStop shares, Dogecoin and Reddit traders<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u201cRobinhood \u0443\u0433\u043e\u0434\u0438\u043b\u0430 \u0432 \u044d\u043f\u0438\u0446\u0435\u043d\u0442\u0440 \u0441\u043a\u0430\u043d\u0434\u0430\u043b\u0430 \u0432\u043e\u043a\u0440\u0443\u0433 \u0430\u043a\u0446\u0438\u0439 GameStop, Dogecoin \u0438 \u0442\u0440\u0435\u0439\u0434\u0435\u0440\u043e\u0432 \u0441 Reddit\u201d \u2014 ForkLog\\\" src=\\\"https:\/\/u1f987.com\/news\/robinhood-privlekla-vnimanie-kongressa-ssha-posle-zapreta-na-torgovlyu-aktsiyami-gamestop\/embed#?secret=F3pQfqeiwz#?secret=jWIWwSWwsq\\\" data-secret=\\\"jWIWwSWwsq\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>Losses of more than $8 million could be meaningful for Justin Sun, whose fortune is estimated at about $200 million. However he, as before, could still achieve the desired PR effect. Tron\u2019s price over the last seven days has risen by 36.5%. That is the sixth-best performance among the top-25 assets, according to <a href=\\\"https:\/\/www.coingecko.com\/en\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\">CoinGecko<\/a>.<\/p>\n<p>ForkLog previously reported that the standoff between r\/WallStreetBets users and hedge funds on Wall Street would be turned into films by the studio <a href=\"https:\/\/u1f987.com\/en\/news\/winklevoss-brothers-to-produce-film-about-reddits-war-with-wall-street\">Metro-Goldwyn-Mayer<\/a> and by the company <a href=\"https:\/\/u1f987.com\/en\/news\/media-netflix-to-film-about-reddit-wall-street-clash-over-gamestop-stock\">Netflix<\/a>.<\/p>\n<p>Follow ForkLog\u2019s news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tron founder Justin Sun told Bloomberg in an interview that he is holding long positions in the &#8216;hype&#8217; stocks GameStop (GME), despite their sharp decline in market value. He believes in the staying power of the so-called meme investing.<\/p>\n","protected":false},"author":1,"featured_media":36271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1243,1302],"class_list":["post-36270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-gamestop","tag-justin-sun"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36270"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36270\/revisions"}],"predecessor-version":[{"id":36272,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36270\/revisions\/36272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36271"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}