Well it was artificially brought down to the ground with the shorters having the knee on GameStop‘a neck like that infamous cop move. As for it’s “true” value as of now, who the hell knows since retail got screwed by COVID, but more importantly, what we know is this : Ryan Cohen, managed to build a company selling pet food online to be valued at 6 times what GameStop is now worth, against all odds with the likes of Amazon around,
So the speculation is not about what GameStop is worth as of today, but what it will be worth in the future after Cohen’s intervention.. So far he’s doing the good moves, has the right ideas and building a dream team to move forward.
Oh and that 140% short just so happened to create a bubble that will repeatedly pop off for god knows how long because the shorts are not covering their positions, so that attracts a lot of momentum investors, it’s a wild ride.