Former GameStop trader becomes third-largest shareholder in JetBlue

Vladimir Galkin disclosed in an SEC filing that he holds a 10.0% active stake in JetBlue (NASDAQ:JBLU).

Galkin has been steadily building up a stake in JetBlue this year, and is now the airline’s third-largest investor, behind only BlackRock (BLK) and Vanguard Group. Galkin indicated in the filing that he has had, and intends to continue to have, discussions with members of JetBlue’s (JBLU) management and board of directors regarding the possibility of board representation.

The Florida-based entrepreneur made a significant investment in GameStop (GME) during the meme stock craze. Inspired by activist investor Ryan Cohen, who was his neighbor in Florida, Galkin increased his GameStop (GME) holdings whenever he noticed in SEC filings that Cohen’s investments in the retailer were being increased. At one point, Galkin had 80% of his net worth tied up in GameStop (GME) stock. While he no longer owns shares in the company, Galkin’s GameStop (GME) investment turned out to be highly profitable.

Shares of JetBlue (JBLU) rose 1.67% in premarket trading to $5.48.