The Game Moves On to Silver

We talked last week about possible endgames for the GameStop Corp. trade, but I forgot a weird one. The first possible endgame I mentioned was that GameStop’s stock price stays really high and the company grows into the valuation. Its turnaround plan works, it uses its elevated stock to do a transformative acquisition, something like that. In a few years, GameStop’s stock price is around where it is now, or up a bit, but by then it looks normal because GameStop has the revenue and margins and growth to make that stock price reasonable.

Most of the other endgames involved the stock price not staying really high.