GameStop share valuation is still just relying on 'greater fools' theory, says Wedbush

GameStop share valuation is still just relying on 'greater fools' theory, says Wedbush

"GameStop has consistently capitalized on the existence of 'greater fools' willing to pay more than twice its asset value for its shares," an analyst said.

Analyst says GameStop's stock is still overpriced because traders hope to sell it to someone else at a higher price

GameStop is still being pumped like it’s got something real behind it, but the only thing holding it up is a line of people praying they can flip their shares to someone dumber. That’s the whole strategy. There’s no big plan, no actual growth, just blind hope and overpriced stock. According to Wedbush’s Michael Pachter, who put out a note on Wednesday, GameStop has no clear direction. He said, “Despite a complete lack of a clear strategy, GameSt…