Post #2582902

@GossiTheDog You're right that GameStop's stock price isn't (currently) based on fundamentals. It hadn't been picked clean by private equity, so it still had every chance of success. The massive change in price was possible because of irresponsible hedge fund shorting. So regardless of their business plan, they're sitting on a massive pile of cash and can ride it out indefinitely. I sold my GME position mid-2024. So I suppose the situation is the opposite for GenAI - GME the market was too confident in its decline, GenAI the market is too confident in its success. There is a core cult of believers and an orbit of rando investors just riding along