Here is the recent GameStop infinite money glitch round 2 explained, why it’s gone up so much in price, and my thoughts about investing in this stock right now – Enjoy! Add me on Instagram: GPStephan
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In terms of what CAUSED the stock to skyrocket AGAIN, seemingly out of nowhere…it’s not exactly what you’d expect.
First, you would THINK that short sellers would’ve learned their lesson the first time…but, NOPE…30% of the outstanding GameStop shares are STILL being shorted.
Now, this is certainly a LOT less than the 150% it USED to be…but, still, 30% of ALL outstanding shares is a LOT – especially when that was reported back at a price of $101 per share. That just means there’s POTENTIALLY more room for a short squeeze…should any good news happen…and, that brings us to #2.
On February 23rd, GameStop announced its CEO would be resigning – and they would find someone else to better lead the team. That caused the stock price to go up…by 100%.
After that, on Monday March 8th – GameStop announced that the billionaire Ryan Cohen, is charing a new committee geared towards transforming GameStop into a technology business….and, on THAT news…the stock doubles, AGAIN.
But, once it surpassed $300 per share…something unusual happened. Within MINUTES, there was a MASSIVE selloff and the stock price dropped 40%… in a 30 minute timespan, trading was halted 6 times for 5 minutes each due to volatility.
My honest, unbiased advice…is that the price of GameStop makes absolutely no sense, and it’s driven ENTIRELY from irrational investor excitement. Now, that’s not to say that it can’t keep going up – but, it’s important to realize that – at these levels, the price it’s trading at has ENTIRELY detached from the company itself, and has taken on a life of its own as a memestock turned money printer that soars on good news.
But, fundamentals aside…because, I know that’s a boomer thing to talk about “fundamentals” in this day and age – in terms of GameStop going up higher, it’s certainly possible. It’s still a stock with HIGH short interest, and when a group of retail traders all REALLY like the stock – it’s possible for that momentum to continue increasing the price way higher than normal.
Personally, I’d probably recommend sitting this one out – UNLESS you’re treating this like a casino, where your investing money for the EXPERIENCE, FOR FUN, without the expectation of making any money back in return. If you can separate THIS type of trading from an investment, and you don’t mind potentially losing most of it – then, sure – have fun and buy in. But, as a long term investment…it just doesn’t make any logical sense at these numbers, and I can’t see this lasting forever.
But, maybe that’s exactly why this stock did so well from the very beginning…GameStop isn’t about the numbers, it isn’t about logical valuations, it’s not about intrinsic value…it’s about STICKING IT to the hedge funds and institutional investors, by buying up the stocks that they don’t believe in. It’s about banding together as a group, being a part of a community, and all winning big at the same time…or losing a lot of money.
In terms of HOW high it might go – that’s yet to be seen. The short interest TODAY IS SIGNIFICANTLY less than what it was a month ago, suggesting that there won’t be as much of a squeeze on the way up…but, just like the last time showed us – ANYTHING can happen, and the best thing that you can do…is expect the unexpected.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
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