As we all know video games are on the rise; and more importantly E-sports are now a thing. Considering that some 16 years old won the Fortnight championship and went home with $3 million. Game Stop, on the other hand, is on its way out considering people can now download the games they want; from the convenience of their home.
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I mean Game Stop stock prices been plummeting; and it is going to hit an all-time low according to Michael Berry; the same guy who made a massive amount of money by shorting subprime mortgages thinks the other way. He even bought $3 million shares which are about 3% of the company.
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He is known as The same guy Christian Bale plays his character; in the movie ” The Big Short” which was about the housing crisis in the United States in 2008. He thinks that their balance sheet is in great shape. The company stock is at an all-time low; according to Michael Berry it will go back up again when PlayStation 5 and Xbox Scarlett releaseing next year.
Credits: kotaku, Jason Schreier, “The Guy From The Big Short Is Investing Big In GameStop”