4 ms·
> But no way anyone sincerely believes GameStop is worth $400/share. In February 1997 AAPL was worth 15 cents per share. You could have overpaid by 100x at the
by defen 6y ago
> But no way anyone sincerely believes GameStop is worth $400/share.
In February 1997 AAPL was worth 15 cents per share. You could have overpaid by 100x at the time and you'd still be up 9.4x after 24 years (not counting dividends), which is an annualized gain of almost 10%.
Maybe Ryan Cohen taking a big stake in Gamestop is their Steve Jobs moment, who knows?
Disclosure: long GME
- sltkr 6y agoThat's my point. Nobody believed AAPL was worth $15/share in 1997. Nobody believes GameStop is worth $400/share today. The motivations for buying are different.
- defen 6y agoMy point is that if AAPL had shot up to $15/share when Jobs came back, and people bought in then at $15 and held, they'd currently have a YoY gain of 10%