Lol you idiot, do you even know anything about investing? I can tell you don't because if you did you wouldn't have made such a stupid comment
Michael Burry (If you've seen the Big Short, or were old enough to remember the 2008 market crash, you know who this investor is) has a huge stake in Gamestop, because he believes in the company. People believe in the company for these reasons and more:
Gamestop announced Ryan Cohen (founder of Chewy.com, an e-commerce startup now worth hundreds of millions) will be joining their board.
Gamestop announced a HUGE new deal with Microsoft several months ago.
Gamestop had cash liquid assets that eats their debt
Gamestop is rebranding to become more of a hangout area with gaming stations and VR
Gamestop is focusing more on their online sales and have consistently posted increases in e-commerce sales
Their financials were never terrible.
Hedge funds over shorted their stock 130%, hoping to bankrupt gamestop, setting themselves up for a massive short squeeze. This was public information since last year.
So yes, people believed in gamestop dumbass.
Also, you don't bet against Michael fucking Burry.
'BlUe PiLLeD MuCh" More like you have no idea what you're talking about.
Lol you idiot, do you even know anything about investing? I can tell you don't because if you did you wouldn't have made such a stupid comment
Michael Burry (If you've seen the Big Short, or were old enough to remember the 2008 market crash, you know who this investor is) has a huge stake in Gamestop, because he believes in the company. People believe in the company for these reasons and more:
Gamestop announced Ryan Cohen (founder of Chewy.com, an e-commerce startup now worth hundreds of millions) will be joining their board.
Gamestop announced a HUGE new deal with Microsoft several months ago.
Gamestop had cash liquid assets that eats their debt
Gamestop is rebranding to become more of a hangout area with gaming stations and VR
Gamestop is focusing more on their online sales and have posted increases in e-commerce
Their financials were never terrible.
Hedge funds over shorted their stock 130%, hoping to bankrupt gamestop, setting themselves up for a massive short squeeze. This was public information since last year.
So yes, people believed in gamestop dumbass.
Also, you don't bet against Michael fucking Burry.
'BlUe PiLLeD MuCh" More like you have no idea what you're talking about.