Replies to post #2548 on Gamestop Corporation (GME)

[papaphilip]

From a valuation standpoint you are most likely very correct. But this run in GME has nothing to do with valuation. Its a supply and demand of shares. Shorts went hog wild shorting 140$ of the float, and the shares aren't there. So people keep buying knowing the shorts have to cover. And the calls that are in the money that expire tomorrow all need to be bought by the brokers in order to deliver as well. So despite rational reasoning, it keeps getting bought. And thus going up. At least until today, though we'll see how the day and week ends.