As retail traders drove Game. Stop ($GME) to stratospheric heights on January 26 and 27 2021, chatter on ticker-centric sites spiked in volume; several social stock platforms displayed a purported tweet attributed to entrepreneur Elon Musk referencing $GME reaching $1000 per share:.
Investors are having a hard time looking past the fundamental irregularities and uncertainty of Game. Stop, but he explained that seasonal movement in the stock is enough to keep your money on it. “I do think [Game. Stop] is going to go to $1,000 [per share] or at least $700, maybe even higher,” he told host Liz Clayman.
You may be asking “Will GameStop hit 3 million users on wallstreetbets?”
, wall, street Bets, the subreddit that has been pumping Game. Stop, hit 3 million users yesterday. It’s at 4 million this morning. So there might be some room left to run on this theory.
As Russell 1000 is a large cap index, Game. Stop will be tiny when compared to Facebook or Tesla, it won’t be able to sway whole index. However, it will become a mainstream stock and it will be viewed with other very large stocks. I’m Rohit, If you like reading about markets, technology and business, you’ve come to the right place.
How high will GameStop stock go?
So if there’s something Game. Stop shareholders can take from this is that institutions are still holding GME stock, and there are still enough short sellers to squeeze out of their positions. So, can GME stock reach $1,000 per share.
There’s been a bunch of speculation as to why Game. Stop hasn’t issued shares thus far. Indeed, the recent spikes in the past few months seems to have provided great opportunities to do so. However, it appears there’s now an indication there could indeed be something coming on the horizon.
Should you short GameStop (GME)?
A high demand for shorting GME stock means there’s a play to squeeze shorts out of their positions. GME shareholders still have a chance to make a ton of money. Short sellers have not backed off from shorting Game. Stop and continue to play with fire.