So, it turns out that the son of one of the founders of GameStop has been on r/wallstreetbets this whole time, watching the saga unfold. If you need a primer on what exactly we’re talking about here, go read our coverage – we’ll wait.
Ben Kusin, the Redditor in question, is one of the sons of Gary Kusin, the 69-year old founder of Babbage’s, the store that would later be bought by Barnes and Noble in 1999, and renamed to GameStop. Kusin resigned as President in 1995, after the company merged with Software, Inc. Of course, that means that Kusin doesn’t actually own GameStop any more, although he’s probably rolling in enough dough that it doesn’t really matter.
“I’m much more a spectator that I am participant,” he said to CNBC in an interview. “I just grabbed some popcorn.”
The elder Kusin also praised r/wallstreetbets for taking on the big boys, calling it “a little bit of an honor” that his company was chosen to be the stick with which the Reddit investors are beating Wall Street. “It’s a good versus evil kind of battle,” said the younger Kusin, and though he hasn’t participated himself, saying that it would be “almost sacrilegious”, his wife bought a single share. She’s up $50, and refuses to sell. Stay strong, Mrs Kusin!
Kusin did not tell CNBC what his Reddit handle was, preferring the “beauty in anonymity” that Reddit affords. He says that he’s “happy to just be another Redditor in the never-ending quest for tendies”, referencing the r/wallstreetbets meme of referring to profits as “tendies”, short for “chicken tenders”, a term that originates from 4Chan fiction about… listen, just check out the explanation, or we’ll be here all day.
Reddit investors are, of course, taking Kusin’s quote about grabbing popcorn to mean that he’s promoting buying shares in AMC, the cinema giant that’s another of Reddit’s targets. He’s probably not, but, you know, stonks, right?
Are you tired of the GameStop stories, or are you grabbing popcorn and enjoying the show, too? Let us know in the comments.
This content was originally published here.