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GameStop stock surge helps IT worker turn stimulus check into $36,000

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Reddit’s war on Wall Street helped a California IT worker turn his coronavirus stimulus check into a $36,000 windfall, he told The Post.

The modest stock portfolio that Arya Hamzelou claims he opened with his family’s relief payment ballooned thanks partly to the social-media-fueled surge in shares of GameStop and AMC Entertainment, he said.

Hamzelou credited Reddit’s WallStreetBets forum for his apparent gain — but he says he studied his stocks carefully and pocketed about $22,000 even though the video-game retailer’s shares have crashed this week.

“I’m just a guy trying to do right by my family and let that money stretch,” said Hamzelou, an IT analyst for the Department of Veterans Affairs. “It’s not like I just randomly put my money into that one stock and it grew.”

GameStop was a recent addition to the portfolio Hamzelou said he started last summer after he and his wife received their initial $2,400 in stimulus money.

He added $500 for a tax rebate the couple expected to receive for the baby they had on the way and another $100 he made working overtime “to bring the number to a nice and round $3,000,” he said in a blog post detailing his investment experience.

After researching stocks on WallStreetBets and other corners of the internet, he said he used TD Ameritrade’s Thinkorswim app to invest $1,000 each in AT&T, hydrogen fuel cell producer Plug Power, and Cloudflare, an internet services company.

Arya Hamzelou said he opened a stock portfolio with his family’s COVID-19 relief payment.But, he added, “I wanted to see how far I can stretch that original stimulus check.”

Hamzelou says he used the tactic to buy 100 GameStop shares and 50 shares of TV streamer Fubo for $35 each on Jan. 14. A week and a half later he paid $4 apiece for 200 shares of AMC, the beleaguered cinema chain that was “the newest talk of the town on social media,” he wrote.

Then GameStop and AMC’s share prices exploded as Redditors fomented a populist insurrection in the stock market — ballooning the value of Hamzelou’s equity to $46,000 at one point, he claimed.

The staggering surge led Hamzelou and his wife to contemplate cashing in the gains, and they decided it was too much money to pass up, he said. He sold 80 GameStop shares last week and another 15 Tuesday morning as the price tumbled for a second straight day, he said.

Hamzelou said he also dumped his stake in AMC on Tuesday, leaving him with $21,684 in cash and some $14,312 still in stocks on Tuesday — including five GameStop shares.

Hamzelou provided The Post with screenshots showing the trades he made as well as part of his Thinkorswim account number. The Post asked tax expert and financial planner Harvey Bezozi to review the screenshots, and he said they appeared legitimate.

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Astım Tedavisinde Ailelerin Kortizon Korkusu

Baharın gelmesiyle birlikte parfüm kullanımında artış görülüyor. Ancak astım hastalarının dikkatli olmalarında fayda var; çünkü parfümlerin çoğu güvenli...

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