A Louisville Beach Volleyball Bum Cashed in BIG on GameStop
[caption id="attachment_338924" align="aligncenter" width="2560"]
(Photo by Horst Galuschka/picture alliance via Getty Images)[/caption]
The year 2020 threw humanity an unprecedented curveball. To start the following year, things stayed weird. The story of January 2021 was GameStop and the brick and mortar video game chain's soaring stock prices.
The Wall Street phenomenon changed the way average people consume the stock market. Now even the casual observers know what shorting a stock is. While average Joe's caught stonk market fever, one guy in Louisville was finally catching his white whale.
Best known in the Louisville community as the guy who runs popular sand volleyball leagues at Middletown's King Louie's, when Mike McCaskill was away from the sand, he spending hours day-trading. Once just a player in penny stocks, he turned decades of near big hits and misses into life-changing money. After stalking GameStop for more than a year, McCaskill's stock options turned into $25 million.
In a lengthy feature from The Ringer, McCaskill shares his improbable success story. There were plenty of failures along the way before he saw anomalies in the market that led him to invest heavily in GameStop. It was a roller coaster ride of a lifetime. Even after cashing in big, he's not changing. You'll still find him refereeing adult volleyball league games.
(Photo by Horst Galuschka/picture alliance via Getty Images)[/caption]
The year 2020 threw humanity an unprecedented curveball. To start the following year, things stayed weird. The story of January 2021 was GameStop and the brick and mortar video game chain's soaring stock prices.
The Wall Street phenomenon changed the way average people consume the stock market. Now even the casual observers know what shorting a stock is. While average Joe's caught stonk market fever, one guy in Louisville was finally catching his white whale.
Best known in the Louisville community as the guy who runs popular sand volleyball leagues at Middletown's King Louie's, when Mike McCaskill was away from the sand, he spending hours day-trading. Once just a player in penny stocks, he turned decades of near big hits and misses into life-changing money. After stalking GameStop for more than a year, McCaskill's stock options turned into $25 million.
In a lengthy feature from The Ringer, McCaskill shares his improbable success story. There were plenty of failures along the way before he saw anomalies in the market that led him to invest heavily in GameStop. It was a roller coaster ride of a lifetime. Even after cashing in big, he's not changing. You'll still find him refereeing adult volleyball league games.
As I talked to McCaskill at the end of January, GameStop was at $325 a share, the whole world was obsessed with it, and his cup was about to runneth over. Yet the next day he planned to run a volleyball tournament at King Louie’s for $700. Here, too, was a paradox. McCaskill had no intention of letting his newfound fortune change him. If anything, the money afforded him the privilege to continue being exactly the same person he has always been. “I’m not going to go buy the Lambo and act like an imbecile,” he says. “I’m pretty minimalist. It’s more of just the satisfaction of, I did that.”As his brother said, McCaskill got his white whale, something Captain Ahab couldn't even do. Just like Moby Dick, this is a lengthy tale worth reading. [The Ringer: The Beach Bum Who Beat Wall Street and Made Million on GameStop]
Discuss This Article
Comments have moved.
Join the conversation and talk about this article and all things Kentucky Sports in the new KSR Message Board.
KSBoard