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In one month’s time, Gamestop’s stock price went from $18 a share to over $340 at its peak. The price soared despite their revenue and profits being in decline.
The stock price was driven up by a tribe of online small investors who decided to stand against the large hedge funds. Although Wall Street took notice, long-term, the true value of the company will prevail.
As the stock plummets back to its tangible value, the biggest losers are many of those populist small investors, while the wealthy prosper.
Proverbs 22:7 teaches, “The rich rules over the poor, and the borrower becomes the lender’s slave.”
Unfortunately, the rich usually rule. As followers of Jesus, we need to listen to the concerns of the poor, while cautiously remembering the likely end result.
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