GameStop analyst calls stock surge a pyramid scheme and says nobody cares about his $16 price target

Pedestrians pass a GameStop store in New York. Scott Mlyn | CNBC After 19 years covering GameStop, Wedbush’s Michael Pachter is comfortable with his $16 price target on the stock and his relatively bearish view on the company. But he knows his opinion doesn’t matter right now. “There’s not a single institutional investor who’s sitting back and waiting for me to weigh in on whether to buy at $300,” said Pacther, who has a neutral rating on the stock, in an interview on Wednesday. “We’ve long past the time where…