![]() That's because, like Blockbuster and Tower Records before it, GameStop faces major challenges to its business model from the internet. Read more: How hedge funds are tracking Reddit posts to protect their portfolios after the Wall Street Bets crowd helped tank Melvin Capital's short positions ![]() "They don't currently have the earnings power to support a price this high," he added. ![]() The explosion in GameStop's stock value is "just a cult phenomenon," Michael Pachter, Wedbush Securities' managing director, told Insider. Youtubeīut that doesn't mean the value will hold in the long run or that GameStop is worth its stock value to its shareholders. An image from the Wall Street Bets subreddit.
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