Retail investors have inflated GameStop 's price to a point that is "disconnected from the fundamentals of the business," according to Wedbush. The meme stock could now shed three-fourths of its current value. Analyst Michael Pachter reiterated the stock at underperform with a price target of $6, which reflects a downside of 76.5% compared with where the stock closed Monday.
The shares remain at trading levels that are disconnected from the fundamentals of the business due to irrational support from some retail investors that was boosted by the NFT marketplace launch and stock split." Pachter expects inventory investments and the success of "Call of Duty: Modern Warfare II" will boost sales in the the third quarter, which will be announced after the bell Wednesday. He predicts $1.41 billion in sales, which is higher than the consensus estimate of $1.
Why would I take financial advice from a wet bush?
Hi CNBC, I have bought and held AMC and GAMESTOP for 2 years now. I don't sell. I just ❤️ the stocks 😉 🦍❤️🍿 ApesTogetherStrong APESNOTLEAVING AMCNOTLEAVING checkmate AMCtothemoon 🚀 gamestopToTheMoon 🚀 LetThemEatCrow chokeOnThat
If the criminals at Wedbush say to sell then I'm buying hand over fist.
You know what’s irrational? All of the blatant market manipulation surrounding “MEME” stocks. The illegal naked short selling, failure to delivers, and tokenized shares artificially lowering stock prices. The SEC, OTTC, and DON not doing their jobs. That’s irrational!