Justin Sun stays in GameStop stock as shares fall 80%.

Tron founder Justin Sun, in an interview with Bloomberg, 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.

In early February Sun assembled a portfolio of assets, promoted by members of the r/WallStreetBets community on Reddit, 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.

“I 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,” he said.

Robinhood has landed in the epicentre of the scandal surrounding GameStop shares, Dogecoin and Reddit traders

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’s price over the last seven days has risen by 36.5%. That is the sixth-best performance among the top-25 assets, according to CoinGecko.

ForkLog previously reported that the standoff between r/WallStreetBets users and hedge funds on Wall Street would be turned into films by the studio Metro-Goldwyn-Mayer and by the company Netflix.

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