Re:How WallStreetBets Pushed GameStop Shares to the Moon
by tmpz22 on Monday January 25, 2021 @01:37PM
(#25906880)
I wonder if the recent hunger for the new PS5/XboxSeriesX, namely the lack of supply, scalping, and massive web traffic trying to secure online orders, contributed to a short-term distorted view on the stock.
[ Parent
| on HN ]
Re:How WallStreetBets Pushed GameStop Shares to the Moon
by abbbccdefd on Monday January 25, 2021 @02:23PM
(#25907509)
The new console cycle definitely contributed. I think it more had to do with Ryan Cohen, founder of CHEWY, buying 13% of gamestop shares and joining the board with two other CHEWY executives. The assumption is he will play a large role in GameStop's future and buying GameStop stock is a bet on his ability to pivot GameStop into new revenue generating gaming verticals.