It's a joke that this stock is at these levels IMHO
The reality is GME is at $49.00. I don't expect it to go up, nor do I expect it to go down. I accept it is 49.00 and base my committment of capital (place my bet) accordingly.
I can place trades because I accept the reality of the present price. If I had invested in GME at $60.00 than I would expect GME to go back to $60.00 regardless of it's present price. And I would be biased in the way I place my "future investment". If I had invested in GME at $25.00 than at $49.00 I would think that the stock is "pricey" and would not "invest" as much as I would if I had bought it at $60.00. Investing at $60.00 gives you a totally different view of the stock at $49.00 than investing at $29.00 gives you. Does it matter where you invested at? No. does it matter what it's sales are? no does it matter what it's book value is? no
It matters what someone else is willing to pay for it. Friday they where willing to pay $49.00 for it. Tues maybe they will pay $52.00 for it. Did your investment increase in value $3.00 over the weekend? No. Did GME open $3.00/share more stores or sell $3.00/share more games over the weekend? No.
Therefore by ACCEPTING the price at $49.00 as what someone is willing to pay for it. I have no EXPECTATIONS. I can base my bet on the mood of the market, on the thought that they will sell more games then people think, That more people bought at $60.00 and therefore there is a greater amount of people that think it is cheap then those that bought at $29.00 think it is overpriced and therefore more people will be buying then selling if the mood of the market is good, if the news of the VG sector is good, ETC. I can look long term and see that the VG sector is growing and therefore the underlying sentiment of those stocks is bullish, therefore everything being equal GME has more of a chance of going up than down. Or the reverse if games sales are falling. Therefore I narrow the odds of my bet by using knowledge, by stacking the odds in my favor and then placing my bets for the day, the week, the month etc.