Rod Alzmann Breaks Down The 'Chewy-fication' Of GameStop

Rod Alzmann chatted with Benzinga's Luke Jacobi Wednesday during the "Power Hour" YouTube show.  

The unexpected rise of GameStop stock in recent months shocked investors — both retail traders and professionals alike. Some, however, had their eyes on GameStop long before the stock rapidly ascended in January 2021.

Rod Alzmann and his team of researchers from gmedd.com began publishing a bull thesis and research on the stock in mid-January, before the stock rose above $300.

The Long View On GameStop: Alzmann said he's been long on GameStop for years.

He posted on the stock-trading website StockTwits about the stock starting in 2018. More recently, in September 2020, he posted on the site that shorts would be forced to cover their position on GameStop, pushing the price of the stock even higher.

The gmedd.com team has kept up with recent GameStop news, posting updates on the company’s upcoming earnings report as well as the company’s plans with Ryan Cohen.

See also: How‌ ‌to‌ ‌Buy‌ ‌GameStop‌ ‌(GME)‌ ‌Stock‌

“They [GameStop] came out with the transformation committee that Cohen [and] Wolff are going to be on,” Alzmann told Benzinga. “They announced the hiring of the chief technology officer and the two other senior leadership members. They’ve made movements in the direction that we talked about in January. The Chewy-fication keeps happening.”

By "Chewy-fication," Alzmann means that Cohen, the co-founder and former CEO of Chewy Inc CHWY, has plans to bolster GameStop’s e-commerce business using his expertise from Chewy, which he built into the leading online pet store.

Cohen disclosed a 10% stake in GameStop back in September 2020 and joined the executive board.

GME Price Action: GameStop stock pulled back 1.89% Thursday, closing at $260. 

Watch the full interview in the video below: