Ugh. I’m pretty sure if someone wrote a huge essay giving compelling reasons why they were basing the strategy on fundamentals, bolstered with various details about the board changes and track record, the current stock performance, franchise cash flow, etc., then the least crackpot explanation here is that they actually meant it and that was in fact their strategy.
Your sarcastic “.. if the reddit author said it” totally misses the point. The point is not whether the reddit author is right only the reddit author is actually describing their honest strategy based on fundamentals.
Given the specificity of the strategy and the fact that it actually did turn out to be right it would seem like an extreme claim requiring extreme evidence to disagree or to presume some ulterior secret market manipulation motive.
Separately, I for one am not sure you are right to say $20B market cap of GameStop is crazy. I think it will drop yes, but not nearly as far as most people think. The change of board management for GME is quite a big signal of the large-scale ecommerce revamp they plan to execute, and that strategy was executed by the new board member previously at Chewy, so there is actual track record to believe this.
The valuation is high right now, sure, but I sincerely think it’s not crazy high. That’s why a lot of the WSBers and redditors are still refusing to sell. The plan absolutely was not a pump and dump, it was more like jumping on an airplane before it takes off - at least in their minds. Time will tell.
Your sarcastic “.. if the reddit author said it” totally misses the point. The point is not whether the reddit author is right only the reddit author is actually describing their honest strategy based on fundamentals.
Given the specificity of the strategy and the fact that it actually did turn out to be right it would seem like an extreme claim requiring extreme evidence to disagree or to presume some ulterior secret market manipulation motive.
Separately, I for one am not sure you are right to say $20B market cap of GameStop is crazy. I think it will drop yes, but not nearly as far as most people think. The change of board management for GME is quite a big signal of the large-scale ecommerce revamp they plan to execute, and that strategy was executed by the new board member previously at Chewy, so there is actual track record to believe this.
The valuation is high right now, sure, but I sincerely think it’s not crazy high. That’s why a lot of the WSBers and redditors are still refusing to sell. The plan absolutely was not a pump and dump, it was more like jumping on an airplane before it takes off - at least in their minds. Time will tell.