Sober up from what, and why would the price drop?
The stock was run up by people eager to spite hedge funds, there was never any interest by serious investors. Manipulating a stock price for spite or amusement rather than profit is legal, I supposed. The problem for the hedge funds is that what was seen as relatively safe bet, a hedge, became a serious liability. They were not dealing with people buying up a stock in a classical bubble or rational calculation, risks that had been factored in, but rather people acting out of spite, merely to screw hedge funds, and only a few particular ones.
Now, you can make profit by investing in spite, but the spite value is gone. No hedge fund, or serious investor will touch Gamestop. The stock is in the hands of spiteful adolescents. It’s a horrible stock to own, but you can, possibly make a profit on it.
The P/E of Gamestop today is -77. That means to in order to lose a dollar a year you have to invest 77. Amazon is +56. Proctor and Gamble is +28. To gain a dollar a year with P&G you need to invest 28.
Unless you think Gamestop is going to have a miraculous turnaround in the future there is no rational reason to invest in it.
By and large stock is valuated on how profitable a company is. GME’s financials are terrible. Maybe a great stock to trade for a time, bad to invest in.