There are a lot of paths where the “truer” value is actually quite high. Some amount of buyers will forget about it, and just hold the stock long-term. The company itself could find a way to capitalize (heh) on this, before it drops by too much—buy complementary valuable companies with stock, for instance. Even the press is probably valuable, and gives GameStop a great starting buzz for it’s (future) online platform.
I’d bet (at lower odds than are implied by price of put options) it’s going back down under $75, but no clue if that’s over weeks or months, and that’s STILL almost 5X where it started the year.
There are a lot of paths where the “truer” value is actually quite high. Some amount of buyers will forget about it, and just hold the stock long-term. The company itself could find a way to capitalize (heh) on this, before it drops by too much—buy complementary valuable companies with stock, for instance. Even the press is probably valuable, and gives GameStop a great starting buzz for it’s (future) online platform.
I’d bet (at lower odds than are implied by price of put options) it’s going back down under $75, but no clue if that’s over weeks or months, and that’s STILL almost 5X where it started the year.