Whitney Tilson Sees GameStop (GME) Down 30% in a Week, 50% in a Month, and 80% in Six Months

March 12, 2021 10:46 AM EST
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Whitney Tilson said from yesterday's closing price of $260, GameStop (NYSE: GME) wll be down by 30% within a week, 50% within a month, and 80% within six months

The ex-hedge fund manager commented in today's Empire Financial Research newsletter:

"Things have been getting pretty crazy in the markets: the frenzy in special purpose acquisition companies ("SPACs") and bitcoin... shares of GameStink (GME) going from $2.57 last year to $483 at the end of January, to $39 by mid-February, to $281 yesterday... (Mark my words: from yesterday's close of $260, it will be down by 30% within a week, 50% within a month, and 80% within six months.)

But nothing made my jaw hit the floor more than this news in the Wall Street Journal yesterday: Beeple NFT Fetches Record-Breaking $69 Million in Christie's Sale.

I sent this article to a friend who owns an art gallery, and he replied: "The world we once knew has crumbled beneath a virtual avalanche."

Another friend wrote of NFTs in general: "It's like the tulip mania – but you don't even get a tulip!"

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