Bull Stonkton, student leader of the Investment Club at Lexington High School, invested all funds under the club’s management in GameStop (ticker: GME) last year and recently cashed in following GME’s historical surge. Stonkton intends to donate his gains to support the conversion of the LHS main building to a ten-story, carbon-neutral skyscraper.
Stonkton first heard about GME through Keith Gill, better known as u/DFV on Reddit or “RoaringKitty” on YouTube.
“Keith is a family friend. During one of our virtual Zoom meetings, he just could not shut up about how analysts underpriced GME. He blabbed on about all sorts of trends in support of a turnaround for GME,” Stonkton said.
Following the Zoom meeting, Stonkton immediately began researching GME himself, trying to figure out if Gill had a point.
“I dug into GME’s financial statements myself, read countless posts both bullish and bear about GME, and of course, watched Gill’s hour-long streams. Those were dreadful, but it was time well spent,” Stonkton said.
The overwhelming evidence in favor of a strong rebound for GME convinced Stonkton to go all-in on the stock, commonly referred to as a “You Only Live Once” or “YOLO” investment. Other student managers of the club portfolio disagreed initially.
“The first lesson you learn in portfolio management is the importance of diversification. I mean, you never want to put all of your eggs in one basket. That being said, Bull made a very persuasive case for GME, so we just went along with his crazy strategy,” Warren Buffet, a junior and student manager for the Investment Club, said.
In late-January, retail investors joined forces to go long on GME, partly in retaliation to institutional investors who have over-shorted GME. This Reddit-driven frenzy pushed the GME share price to a high of $483 on Jan. 28th, 2021, a more than 30-fold increase compared to just three months ago.
“When GME got that high, it clearly detached from its fundamental value by a large margin. Forget about ‘diamond hands’, I am cashing in,” Stonkton said.
Stonkton has pledged to contribute the entirety of his GME profits to a construction project aiming to transform the current main building to a state-of-the-art skyscraper.
“Honestly, this upgrade is long overdue. Besides being overcrowded, the lack of air conditioning is another good reason to turn the main building into a skyscraper. By the way, to promote physical wellness, we will only have three elevators in the building for accessibility purposes, meaning students will have to take the stairs.”
Others echo the need for the main building to be renovated.
“The main building is in horrible shape. What is the school going to do? Keep adding more mods onto the main building? Replacing it with a skyscraper seems like a be-all-end-all solution in my opinion. Shout out to Bull Stonkton for giving back to the community,” Burj Khalifa, a senior, said.
A local contractor, Build Big Buildings, recently won the bid. Construction of the skyscraper will begin in earnest this summer.