GameStop Doesn’t Have Enough Stock
Authorized shares, pay package adjustments, prediction market making and play-money casinos.
Well! Yes! This is the point! Of everything! Like:
A virtuous and self-reinforcing cycle. Step 2 is not, perhaps, the most important part of all of this, but it’s not the least important either. At some point in early 2021 the mad scientists at GameStop Corp. realized, somewhat to their own chagrin, that their stock was going up quite a lot for reasons of its own. At first, they were terrified by this dark magic and declined to use it. Later, they tentatively started to use their stock-price powers to, like, hire Amazon.com executives. I am sure that I have somewhere joked that they would eventually use their stock to buy Amazon itself. They’re not quite there yet but man we are getting closer: