Gamestonk !
Hedge Funders have undervalued Gamestop stocks ever since it struggled from the Pandemic. Michael Burry and a certain subreddit didn’t.
People love David vs. Goliath stories. No wonder the hottest news right now is Gamestonk. It is the feud between the subreddit
r/Wallstreetbets and Hedge fund managers.
Melvin Capital is the Hedge Fund manager in question. Who would have thought that a community online will make a billionaire cry. Gamestonk is like a real life soap opera with the underdog prevailing.
Melvin Capital see Gamestop as dead in arrival in the next few years. I can understand their sentiment because many people now buy their games digitally. Then there is the prediction that Cloud gaming services like Google Stadia will kill off consoles. The Pandemic also made it harder...