I am looking at the long term chart of GME. Whatever is said about BTC's price as a positive can be said about GME too. Not to mention the shares are actually ownership certificates in an existing company. Sure GME was sideways for 4 years and in a decline for 6 years, but it also had 2 previous peaks in 2008 and 2013. So if you were a true believer and held, you were rewarded. And there is always a higher high, right? As I see it, GME is a store of value, over time it always go higher and the target is obviously the Moon, but at least 100K by March. The number of stocks is limited (because forking I mean issuing more stocks don't exist in a believer's mind), there are no other true stocks, etc. etc. Owning GME is freedom from the grips of Wall Street HFs, be your own bank, I mean fate maker!!! So if you believe in store of value, forget about cryptos, there has been a new kid on the block and it ain't a crypto. GME FTW!!!!
Looks more like a ponzi scheme at the moment where the new folks exist to provide the older investors profit and eventually will be left with the bag when the whole card house crumbles.
Gamestop stock gets wiped out when it goes bankrupt, and in the mean time you have to trust the management to not dilute the fuck out of it and waste money running thousands of unprofitable mall stores.
Infidel!!! GME is the only true stock, it will exist until 2050 or so... If (or should I say when) Virtual Living becomes a reality, people will just move into Gamestop stores and live there for the rest of their lives.
I am a crypto fan. I would consider Gamestop to be a store of value in the same way I would consider any other stock to be a store of value. People can say Gamestop is a dying business - it's a Radio Shack, everything is purchased online these days, Covid19, it's worth $2 a share, bla bla bla. Pekelo, you are a smart guy. You can understand that millions of have-nots want to stick it to the man, right? They have done it on GME. The millions defeated the billions. Great story, a David vs Goliath. Now let's say GameStop uses its inflated share price to purchase EA or another game developer, let's say they parley this into becoming the biggest E-sports competition organizer or team incubator. If I gave you a billion or 10 Billion dollars, could you make something from it? Could you build something of value, that was a store of value? Extreme view points always contract to a more balanced perspective, else people's heads explode or they just paint their faces, put horns on their heads and storm the US Capitol. See the big picture, this GME event is not over.
Thanks for answering, you had some good points. I have to agree, but I don't think it will last more than a few days. 2 weeks tops. But!!! In the main time those who were into cryptos for the profit now see stocks as a valid competitor/SoV and they may leave their crypto holdings to take advantage of the stock bonanza. If I am right, there should be a downward pressure on BTC (and interestingly, it almost touched 29K) in the upcoming days.
The other day when GME was at around $75 and one of the CNBC Fast Money guys said he loaded up on puts, I was thinking the opposite I could buy some calls, I mean in my view, the stock has not done a 10x, lol Anyway, I had not logged on to my OptionsXpress and TDAmeritrade accounts in over 10 years! ACH would take a couple of days, so I said, nah, forget it, I missed it already But that's an interesting viewpoint taking away capital from the crypto markets and doing risk on trades in the stock market, hmmmn, good point. I still don't like the limited hours and closed for holidays and the settlement delays of the stock market, but I am considering opening an RH account
Fundamental characteristics of money: 1. scarcity GME can issue as many new shares as they want. grade: D- 2. durability Will this company even still exist in a few years? grade: D 3. divisibility grade: B 4. fungibility grade: A 5. portability Transferring shares from one broker to another is a slow and cumbersome. Have to use depository receipts instead of the real thing to trade shares in other countries. grade: F 6. recognizability ok, except unlike bitcoin there's no way to know for sure that it's pristine collateral that nobody rehypothecated. grade: B 7. acceptability Can't use GME shares to pay for anything. grade: F