GameStop Corporation, a Fortune 500 company headquartered in Grapevine, Texas, is a leading specialty retailer offering games and entertainment products through its e-commerce properties and thousands of stores.
I bought at $2 about a month before the whole Gamestop thing happened. If I'd held I'd have less than half of what I invested. I sold at $45 instead. Funny thing is I actually got a 3 day ban here for telling people they should invest in AMC when GME started taking off. The reason? Apparently you aren't allowed to suggest stocks with a market cap less than $1B.
Gme actually has some factual basis to it. While their business isn’t flourishing they’re sitting on a mountain of cash and are profitable. Their valuation seems low for their cash on hand and business. I’m sure it isn’t the valuation they think it should be, but it should be higher
Honestly I'm surprised GME doesn't have the same chart, it's only down 50% in 5 years, and it had a split so it's still way higher than it has any right to be at $22/share. Amazing what you can do to a stock when a bunch of retail just pour their paycheck into it out of blind loyalty.
I think cults are a good buy signal: Apple, Costco, Starbucks...maybe even Reddit.
The AMC cult though was just waiting for a short squeeze, they didn't believe in the product/company at all. I don't follow GME but isn't that cult still waiting for their messiah (short squeeze) to return too?