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Originally Posted by Noneya
Ah yes, the classic he did it first defense - works every time.
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nope
there is only one side doing the manipulating and it's not the retail traders
we just like the stock and the future potential of the company
Quote:
Originally Posted by apar
The price is not detached from reality. Gamestop can be a great long term buy. Leadership matters. If Ryan Cohen was able to make Chewy.com into $35B company that sells pet supplies, there's no reason he can't do that with Gamestop as a gaming online retailer. That valuation would be $500 a share for GME. We've seen big turn arounds for companies before, just look at what happened to Apple when Steve Jobs returned. Anyone with a time machine would have invested in them.
At the end of the day prices are determined by supply and demand, and there is only 70M shares of supply, and there is a whole lot of demand. Gamestop is getting millions of dollars of free global media coverage. It was the most purchased stock in 95% of countries in Europe during Jan and Feb. Everything about short squeezes and gamma squeezes are fun to discuss but I don't count on it, but Ryan Cohen leading the company to a brighter future is something that I will bet on.
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Quote:
Originally Posted by Noneya
Just to be clear, you're betting on him leading the company to more than 25 times better future. Because the price of GME before all this was around $20.
If your baseline is Steve Jobs - it took "him" 10 years to 25x AAPL.
But sure let's go to $500 in a month. Rocket emoji, diamond hands emoji.
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Gamestop is pivoting from being mainly a brick and mortar reseller (with a huge number of physical stores which increases its overhead and liability) to an e-commerce and e-gaming focused company
brick and mortar companies have a much bigger limitations on valuation due to physical location being necessary for sales
e-commerce and e-gaming's valuation is no longer tethered by the same limitations
but that's just stuff I picked up along the way
in the end, I just like the stock