Is the GME share price set to fly higher than $250?
Investors who bought GameStop (NYSE: GME) shares in 2020 have reason to rejoice. The GME share price has multibagged this year, multiplying nearly 15-fold since the start of 2021. GameStop has attracted a huge get rich quick following on places like Reddit. It shares that status with AMC Entertainment, and BlackBerry. And that immediately puts up a big red flag for me. 5G is here  and shares of this sleeping giant could be a great way for you to potentially profit! After all, every similar stock-buying frenzy I can remember over my investing career of more than 30 years has collapsed. And everyone who bought in too late lost money. Stock markets are getting bullish, emerging from the pandemic crisis. I can see a psychological effect too, gripping some people enjoying their new freedoms as Covid restrictions are lifted. There isnt just a desire to get back to investing in shares (which Ive carried on doing all along anyway). No, I think the lengthy frustration has led to serious over-exuberance. Mix that with the ever-growing influence of social media, and there are bubbles just waiting to inflate and go pop. Its hard to work out any. The digital game company is now being driven by activist investor Ryan Cohen. He holds a 13% stake in the firm, and should become chairman in the next few days. Oh yes, the company reported a loss last year. Sure, it looks like that loss is contracting. In 2020, the company lost only $238m compared to $400m the previous year. But cost-cutting during the pandemic, plus the sale of hundreds of stores, made it an unusual year. Revenue, meanwhile, fell 22%. Oh, and GameStop issued new shares to the tune of $551m in April too. I suppose its good sense to make the most of a booming share price. GME share price speculation  So what were looking at, as far as I can see, is a company in crisis. It has new management who might, or might not, be able to end the crisis and create something that justifies the multibagger GME share price performance. And then add some more for new investors. To buy now, Id have nothing but speculation to go on. I dont even gamble on things with good odds. And based on my experience of past boom-and-bust bubbles, the odds are usually stacked against them. I dont think the GME share price will fly much above $250, no. At least, if it does in the short term, I doubt it will stay there for long. Perhaps new management will make good. Maybe a new partnership deal agreed with Microsoft will prove lucrative. And I might have missed the chance of getting rich quickly. I can live with that.