unilad
Advert

Redditors Are Convinced Elon Musk Is Going To Buy GameStop After Cryptic Tweet

by : Hannah Smith on : 04 Feb 2021 16:57
Redditors Are Convinced Elon Musk Is Going To Buy GameStop After Cryptic TweetPA

Just when you thought the GameStop saga was coming to an end, a new wild theory has emerged to keep the dream alive.

A cryptic tweet from Elon Musk has got Redditors speculating that plans are afoot for the world’s richest man to buy out GameStop, in what would surely be the world’s first ever meme-inspired corporate takeover.

Advert

Let’s get one thing straight – this would be a mad idea, even for the brains behind the Cybertruck and Not A Flamethrower. But that hasn’t stopped buzz from reaching a fever pitch after Musk tweeted earlier today, February 4, ‘I am become meme, Destroyer of shorts.’

Most people would probably look at the tweet and see a joke about the negative impact the meme stocks craze has had on hedge funds who lost billions betting against increasingly irrelevant companies. Yet several of Musk’s supporters think they’ve spotted a hidden meaning, and are now claiming the Tesla and SpaceX owner could be about to add GameStop to his large and varied business empire.

The idea started out as a joke, with one Reddit user posting ‘Tesla GME gaming partnership,’ and another suggesting that ‘all GameStop stores will now also become a Tesla service point.’ But it’s quickly snowballed into a full-blown theory, even reaching the r/wallstreetbets subreddit that kicked off the whole GameStop rally.

Advert

Posting on the forum, user StanStanStan wrote ‘Stay with me here…Elon Musk is estimated to have a net worth of $188B. As of right now $GME only has a market cap of close to $6B. He could buyout or take control of GameStop.’

Rising Tesla Share Price Creates Army Of Self-Named 'Teslanaires'PA Images

The post goes on say the Musk buying out GameStop would represent the ‘finishing blow’ to the hedge funds that bet against the company, as they’d either be forced to sell their shares at a loss or see their value squeezed even further if Musk took control by buying up shares, driving their price even higher.

And if taking revenge on hedge funds on behalf of a group of Redditors doesn’t seem like the best justification for making a major business decision worth several billion dollars, they’ve given Musk another reason to make the surprise move, saying, ‘Every rich guy needs a stupid purchase and this one would only set him back 3%-5% (depending) of his net worth, which I’d like to point out was likely inflated by this very subreddit.’

Advert

Again, this whole thing is almost certainly just wishful thinking on the part of Musk’s fans. But then again, if any billionaire was going to buy a company as a joke, you wouldn’t put it past him.

If you have a story you want to tell, send it to UNILAD via [email protected]

Most Read StoriesMost Read

Celebrity

Elliot Page Tests New Phone Works With Topless Pic

Topics: Technology, Elon Musk, GameStop, Reddit, stock market

Credits

Reddit
  1. Reddit

    Is Musk going to buy GME?