Let’s be blunt. If you consider the value of a company based on its assets and potential there is no actual way that stock if Game Stop should be worth anywhere near $100 let alone $300. On the flip side of that argument while there are credible reasons why a stock shorter might decide that a company like Gamestop is overvalued there are several basic reasons why it’s unreasonable to presume they are on their way out.
- Consoles and accessories
Games need platforms to play on, and Game stop sells said platforms. As long as there is not some sort of direct plugin into your brain your going to need a system to play on and as long as Game stop carries those platforms and the accessories for them then they provide a product that there is an actual demand for. - No waiting: Amazon might have next day shipping or even drone shipping in a few limited places but if you decide you want that headset NOW or you want that platform NOW there is no substitute for actually being able to drive under an hour to a location that has said platform or accessory.
- Porch pirates & the law: In an age of riots when police might not be all that interested in enforcing laws like theft of packages from your front porch or decide that to enforce said laws against the wrong people might bring the wrath of God upon them the choice to actually travel to a store to buy your game might be the surest way to make sure you get what you want and paid for without grief.
- Physical contact: For all the talk about the convenience of downloads or cloud spaces there is a real difference between holding something in your hand and knowing you physically own it and owning something virtually that can disappear with a system crash or need to be downloaded a second time. Additionally at a store you can actually see the accessories that you are buying, feel how they fit, perhaps even try some of the games depending on the setup and even (gasp) talk to fellow gamers in your area who have a similar interest and (gasp) make friends. Furthermore said friends that you can see and touch are more likely to be who or what they claim to be rather than an image on a screen or a line of text.
- Can’t cancel this: In an era of cancel culture where having the wrong political opinion or religious opinion or the wrong definition of what a man or a woman is can get you banished from all kinds of things online who is to say that a site or a cloud service won’t suddenly decide that yourself excluded, your games unplayable and the downloads and storage that you though you “purchased” revoked because it was in reality a “license”? Alas for the lords of cancel culture, if you have a physical copy of a game and a source of electric power this power virtually disappears. They can hate you all you want but unless your game requires access to said cloud as long as you have that physical copy you can tell tell them where they can stick it because they can’t just erase you. They’ll have to take that copy of the game out of your cold dead hands.
And this list doesn’t even touch on things like nostalgia, or convenience or even something to do.
Da Techguy's (no longer backup) Blog 
If Tesla can trade at $900 then Gamestop can trade at $300 …
In the end any item is worth exactly what someone is willing to pay for it. As long as people are willing to pay $300 for gamestop then gamestop stock is by definition worth $300.
Being old fashioned type of guy I am speaking in terms of the profit and assets of the company based on actual sales of a product vs the cost of generating those sales, what we used to call a bottom line.
If people choose to hold the stock for reasons other than profit that’s fine, it’s no different than the left pumping millions into Newsweek because they wanted to keep it out of conservative hands. The goal of those investors was not profit although individuals, namely those drawing a paycheck made $ off of it.