Good morning and happy Monday! If last week’s trading action taught us anything, it’s this: some of the wealthiest players in the game see blood in the water — and they’re buying.

GameStop CEO Ryan Cohen just threw another $10 million behind the meme stock that made him famous. Meanwhile, Carlos Slim — the richest man in Mexico — swooped in to scoop up PBF Energy shares as oil prices dipped. And on the quiet side, Selway Asset Management lightened up its Apple position during a sell-off in tech stocks.

Here’s what went down.

P.S. This newsletter was drafted Friday. Want these trade alerts as they happen? Join Elite Insider here.

🎮 Ryan Cohen Doubles Down on GameStop

On April 3, 2025, GameStop Inc. $GME ( ▼ 1.54% )  President and CEO Ryan Cohen bought 500,000 shares at an average price of $21.55, totaling a cool $10.78 million. The trade was disclosed April 7, bringing Cohen’s personal holding to over 37 million shares.

Bulls will be happy to see the splash text flashing. GameStop stock has been under pressure as the company attempts yet another transformation in a post-meme era.

Cohen’s mega-buy may be his way of saying he's not just along for the ride — he’s driving. For investors hoping GME still has some surprise rallies left in it, this could be the spark.

🛢️ Carlos Slim Buys the Dip on Energy

On April 7, 2025, Control Empresarial de Capitales S.A. de C.V., the investment firm of billionaire Carlos Slim, bought 16,000 shares of PBF Energy Inc. $PBF ( ▼ 3.03% )  at $13.88 per share, totaling $222,126.

Slim’s move came just as energy stocks tanked following President Trump’s tariff bombshells. While the broader market panicked, Slim — who already rode PBF’s pandemic crash and recovery — went shopping again.

With oil prices dipping and the market shaken, Slim’s buy echoes a familiar billionaire mantra: buy when there’s blood in the streets.

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🍏 Selway Quietly Trims Apple Holdings

On March 31, 2025, Selway Asset Management reduced its stake in Apple Inc. $AAPL ( ▲ 0.39% )  at $222.13 per share. The trade was disclosed on April 9.

This move came just before President Trump’s tariff announcement rocked global markets — and Apple, with its heavy reliance on China for both manufacturing and sales, was one of the first to get hit. Shares slid in the days that followed, dragged down by renewed fears of U.S.-China trade tensions.

While Selway’s timing looks savvy in hindsight, it’s unclear whether the sale was a well-placed macro call or a routine portfolio adjustment. Either way, trimming a large Apple position ahead of a policy shock like this shows just how closely the smart money is watching the geopolitical chessboard.