$GameStop (GME.US)$ A question to roaring kitty, on what gro...
$GameStop(GME.US$ A question to roaring kitty, on what grounds does a store that sells blue rays in an online era worth $13B in market cap
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VibraniumHands : The movement isn’t about the market cap or business potential. It’s about the hedge funds that rely on market manipulation and down-trending businesses to make their unethical money. Gamestop was chosen due to how much it was being shorted by hedge funds
Nic08 : I don’t think he ever valued the company that much. The narrative has evolved from roaring kitty valuation to “let’s stick it to the man (hedgies)” which led to the plan to squeeze the shorters and once the calls are covered the stock will rocket
JonSnow : Like Jim Cramer said, it is worth what people are willing to pay. Is like a Rembrandt or all those shit coins, including BTC, what makes them valuable? Well, people willing to pay a certain price for owning it, that's basically it.
Forever Learning VibraniumHands: I read an article saying that the actions didn't hurt the hedge fund much as the hedge fund manage to earn their money in other stock and after the action. Instead those that support the action who bought high prices lose a lot when it fall back to the original prices
MonkeyGee : if you have to ask that question than you don't understand.
103787608 Forever Learning: And that is exactly what they want you to believe. If it is easier to make money elsewhere and that they have closed all their short positions in this stock, why would they still bother pushing down its price? They could have just gone long, announced that they haven't closed their short positions to make retail push the stock price up then dump their positions, rinse and repeat.
So why aren't they doing that?
They can't.
They. Haven't. Closed.