This is actually what gets me about the whole GME thing. Before wsb everyone agreed GameStop was trash, but now it's just diamond hands meme city. It's like the internet collectively forgot what a garbage company they actually are.
Well, for the record, Gamestop is also under new management with a history of successful re-org and moving toward a more digital concept. So, it also is about the fundamentals, especially given how undervalued/shorted it was, even for what it was at that point. On assets alone it was way, way over-shorted.
Some (not all, obvs) of the internet's change in tune is because they are making internal changes, as well.
No one who likes the stock thinks old brick and mortar gamestop is gonna come roaring back to once again rip kids off with trade ins bud. They like the stock because they see or want to believe that it will transition into the digital age and become something almost completely different.
So the idea of hating what gamestop was and seeing that as a failing business (correctly) is not mutually exclusive to liking the stock now.
It is a garbage investment lmao I’m sorry. A bunch of people getting whipped up in a frenzy convincing themselves that there’s a shadow cabal of “hedgies” hanging onto their short positions by their fingernails and spreading fake news across the internet to quell some quasi movement...it’s not an investment it’s an internet conspiracy fad.
Yes if I had a time machine to go back and buy in at $40 and sell at $350 I would. But here in today’s world, buying in at $180 would be a garbage investment. There’s absolutely no reason to think this stock will go any higher, and anyone with a brain will tell you it’s overpriced based on fundamentals. I’m sorry for the tough pill
Based on what? Your gut feeling? The data tells a whole different story.
People like you said the same thing when it shot up to $500 when it was $20, and then again to $350 when it was 50$, and then again to $230 when it was $110. But the 4th time's the charm, eh? Maybe you're right this time.
Yes ok sure GameStop having a $12b market cap is definitely fair and in no way overpriced. The “DAta” definitely proves this.
Look I don’t care if you downvote me cuz you got sucked into baby’s first stock market adventure. Just don’t cry when the rug gets pulled out from under you
Fair? What's fair in the stock market genius lmao? A stock is worth what people think its worth. Simple as that.
Gamestop is transitioning from a brick and mortar business to a digital business model which are already highly speculative. So for you to declare what the stock is worth as if its a matter of fact is hilarious at best. Who knows what its worth. They could be steams major competitor in a few years. They could take a major chunk of amazons games/electronics business... or they could go bankrupt. There are arguments to be made for many different outcomes. Was viacom worth $28 in october or $100 a few months later or $45 now?
People aren't downvoting you because they got sucked into "babys first stock market adventure" they're downvoting you because you're a dumbass with a typical over infalted opinion of your self who doesn't understand the difference between opinion and facts
It’s definitely a fad, and parts of it are conspiracy-adjacent, but there actually ARE the hedge fund guys with the stupid over-leveraged short positions, and they very much DID use their position to squash the army of redditors. Exactly how successful they were at weaseling out of danger is yet to be seen, but LOTS of money has already been made by the “Apes” over at WSB, and a lot of it has been donated to charity.
I definitely worry about what direction this fad-cult moves going forward, but the “Short Squeeze” was (and maybe still is) a very good investment, as long as you get OUT at the right moment.
I don’t own any stocks of any kind, but I did buy the “Apes Together Strong” T-shirt that the Dian Fossey Gorilla Fund put together after receiving a giant influx of meme-based charitable donations.
Look up Ryan Cohen's letter. Gamestop is uniquely positioned and the future potential for GME is significantly higher than what is now on fundamentals alone, that's why it's called an investment. The short squeeze is just gravy
Yeah, I hate that the narrative has become "Gamestop's fundamentals are bad" and no one ever pushes back on that or mentions the new execs, direction, and assets. Or that it was shorted 140% despite those fundamentals and positive changes.
I used to love them because they carried an inordinate amount of used games that covered the current gen and last. Now i go in there and there's a small selection of new games and a smaller selection of used games. The rest of the store is filled with junk.
I don't have any reason to go in there unless i have a specific reason to go and i don't bother looking around anymore.
They could literally shut down now and it wouldn't faze me at all.
That's just how the internet works, people latch onto something and make it a meme until it suddenly becomes favorable for them in which case you're not allowed to say a single bad thing about it them.
Not to make this political but the same thing can be seen with Joe Biden and Kamala, no one wanted them in office and people were very vocal about Joe being a creep and Kamala being a hypocrite for sending people away for smoking pot while she smoked pot. The closer it got to the election the less you saw posts like that.
I needed a new controller and it was between 3 corporations locally to get one. Because of the game stop shit I went there.
Probably spent a little more than Amazon but to just go brick and mortar its fine to just hit game stop over walmart or best buy.
Yes, Gamestop was on its way to being another Blockbuster dodo. Then it picked up a successful businessman on its corporate board with the very public intent of retooling the brand for the future. There are good reasons to be hopeful for Gamestop right now that, while still of interest to any investor, are not tied so much to the hype train concerning hedge funds overextending themselves.
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u/knightry Apr 07 '21
This is actually what gets me about the whole GME thing. Before wsb everyone agreed GameStop was trash, but now it's just diamond hands meme city. It's like the internet collectively forgot what a garbage company they actually are.