GameStop Corp. (GME): A Bull Case Theory

We came across a bullish thesis on GameStop Corp. on AntFin’s’s YouTube Channel. In this article, we will summarize the bulls’ thesis on GME. GameStop Corp.’s share was trading at $21.02 as of January 13th. GME’s trailing P/E was 23.84 according to Yahoo Finance.

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and e-commerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, and gaming headsets; new and pre-owned gaming software; and in-game digital currency, digital downloadable content and more.

AntFin’s thesis centers on renewed speculation around Michael Burry’s long-term involvement with GameStop following his unexpected disclosure of private emails with Keith Gill from August 2019. These emails date back to a period well before the GameStop squeeze, documentaries, or movie, when Gill and Burry were privately discussing GameStop as a deep value opportunity. Burry kept these communications private for nearly six years and chose to reveal them only recently, a move that has drawn attention now that GameStop’s stock has returned to the low $20 range. He also shared past correspondence with Ryan Cohen, reinforcing the idea that his engagement with GameStop may not have fully ended after 2019, despite public perception that he moved on.

At the same time, Burry has been vocal about his bearish stance on AI related stocks. He is reportedly short Nvidia and Palantir and has warned that OpenAI could follow a path similar to Netscape, arguing that Nvidia’s earnings are artificially boosted through long depreciation schedules on chips. The speculative scenario proposed connects these views, suggesting that if an AI bubble were to unwind, Burry could generate substantial profits from his short positions. Such a downturn could also weaken the collateral supporting GameStop’s short interest, potentially setting the stage for a renewed move into the stock.

GameStop’s fundamentals are presented as supportive of this view, with book value near $11 per share, more than $8 billion in cash, and an ongoing business transformation that is not reflected in the current valuation. AntFin concludes that this is not driven by hype but by Burry’s historical track record of identifying dislocations early, implying that GameStop may once again represent a deep value opportunity if this sequence of events unfolds.

Previously, we covered a bullish thesis on DICK’S Sporting Goods, Inc. by BotMissile in May 2025, which highlighted the company’s discounted valuation, strong free cash flow generation, and long term upside from scale and acquisitions. The company’s stock price has appreciated by approximately by 20.46% since our coverage. AntFin shares a thesis on GME that emphasizes speculative deep value driven by market dislocations and investor behavior.

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Disclosure: None.