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A stock price is never just about the fundamentals of the company. It's not rational to think of stock prices only from that limited perspective. You _must_ consider the supply and demand for the stock and the people that are currently trading it. They are a part of the equation.

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Exactly. Stock owners are free to not sell their stock and this cannot be ignored.

I have a guitar that I could sell on the open market for ~$300.

But I don't want to sell it.

If someone offered me $300 for it, I'd say no. If they offered $400, I'd still say no. I'd say no at $900.

Why? Because I don't want to sell it and I don't have to.

There is some price that will change my mind, of course, but it has nothing to do with the actual value of the guitar.

An argument could actually be made that Gamestop should be worth about $250 a share, assuming they capitalize on this short squeeze by issuing new shares and turn things around/pivot well.

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