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(CNBC)   GameStop reports wider loss, announces partnership with crypto exchange FTX, where their next losses will be even more impressive   (cnbc.com) divider line
    More: Obvious, Stock, Money, Shares of the company, new partnership, Chief financial officer, The Quarter at Tropicana, crypto exchange FTX, GameStop's results  
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225 clicks; posted to Business » on 08 Sep 2022 at 12:30 AM (11 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



19 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-09-07 9:01:30 PM  
Now, he said, the company is focused on new priorities: becoming profitable, launching proprietary products and investing in its stores.

Oh, so glad they're focusing on that NOW.

Retail has been hurting for so long to make it work you either need to stock something people need to see in person, or something they can't get somewhere else. Gamestop had it good for a while with the used game market, but with physical media drying up, I don't think blockchain is going to rescue their storefronts. They'd be better off trying to land exclusive deals with Nvidia and AMD to get guaranteed stock of video cards to drive people to their stores.
 
2022-09-08 12:41:31 AM  
And in the afterhours, GME shoots up 12%.

There's no rhyme or reason to this.
 
2022-09-08 12:57:44 AM  

We Ate the Necco Wafers: And in the afterhours, GME shoots up 12%.

There's no rhyme or reason to this.


The only explanation is this.

Take your right index finger, point it at your right ear and make circles in the air.

Now take your left index finger, put it between your lips and move it up and down saying blabblublublublu like that.

Keep doing that for 30 seconds or until you say to yourself, "What the hell am I doing?" and then you will know what it is like to own Gamepots stock.
 
2022-09-08 1:15:16 AM  
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2022-09-08 1:20:00 AM  

We Ate the Necco Wafers: And in the afterhours, GME shoots up 12%.

There's no rhyme or reason to this.


There's two reasons.

1: They actually beat their revenue expectations.

2: The apes are DRSing more shares than expected which means that there are fewer shares on the market than expected.

Either of those factors on their own would make a stock go up.

The Gamestop story isn't over yet. Retail has direct registered (taken off the market) close to $2,000,000,000 worth of Gamestop stock. Nobody knows what's going to happen when they lock up all of the available shares. It will take about 18 more months at the current pace, they should have all available shares not sold short locked away in the next six months at the absolute latest. There's also a preponderance of evidence that there are millions of shares that are naked short (counterfeit shares that the issuer who isn't Gamestop thought that they would never have to pay out). Yes, there are some unrealistic fools thinking that the shares are going to be worth millions of dollars each. That just means that if the share price goes pear shaped for the people that are short or have fake shares that there'll be fewer shares for them to buy because a significant percentage of the DRSed shares are held by people that won't sell.

This may end up being nothing, it may also be a once in a lifetime opportunity. What it isn't is over.
 
2022-09-08 1:47:57 AM  
Next they will partner with Funko to create NFTs. If they haven't done that already.
 
2022-09-08 1:59:40 AM  

We Ate the Necco Wafers: And in the afterhours, GME shoots up 12%.

There's no rhyme or reason to this.


why would there be? the "market" is reliant on human beings, who are irrational on every single conceivable level.
 
2022-09-08 2:14:00 AM  
This looks like that final smear that your log wipes across the bowl as it spirals down.
 
2022-09-08 3:13:51 AM  
Still no guidance, still no Q&A.
But Cohen made a ton of money off the apes who jumped on the BBBY train, so there's that.
 
2022-09-08 4:23:44 AM  

red230: This may end up being nothing, it may also be a once in a lifetime opportunity. What it isn't is over


Interesting..so you're saying that I might be missing out on something big here.  Should I fear this possibility?
 
2022-09-08 4:57:54 AM  
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2022-09-08 5:15:19 AM  

red230: This may end up being nothing, it may also be a once in a lifetime opportunity. What it isn't is over.


No rich person will allow their money to be invested in a failing company with no real vision to profitability; actual rich people like keeping or growing their assets. Even if shares were fraudulent, the final adjusted price/volume still leaves existing investors holding their dicks for someone who will buy, and should a purported fraud come to light, they'll be even more unsellable.
 
2022-09-08 8:11:14 AM  
I'm one of those weirdos who still prefers physical media when it comes to games. The last time I stepped into a GameStop, the floor space was 80% dedicated to Funkopops, T-shirts, key rings, and other game-related trinkets. Their actual game section was worse than what you'd find at a Target.

GameStop is no longer about games. It has no use for me anymore.
 
2022-09-08 9:32:39 AM  
This is exactly the kind of amazing performance I expect out of the man who single-handedly turned Bed, Bath, and Beyond around.
 
2022-09-08 10:31:09 AM  

Arxane: I'm one of those weirdos who still prefers physical media when it comes to games. The last time I stepped into a GameStop, the floor space was 80% dedicated to Funkopops, T-shirts, key rings, and other game-related trinkets. Their actual game section was worse than what you'd find at a Target.

GameStop is no longer about games. It has no use for me anymore.


Yeah, its over.  For what its worth, any physical media you bought in the last 5+ years is basically unusable, anyway.  Half-completed games ship on disc and require basically downloading the whole thing post-install.

Other than "owning" a title that is later removed from the online store (example, the metal gear solid collection isn't available) that still allows you to download the updates and run the game, its all just moot at this point.  Physical media had a good run, but even i've started to appreciate the lack of clutter.

I'm a cheap gamer too, I used to love just going to GS and finding a few used games for 20 bucks.   At this point though, for example the xbox store runs digital download sales on older games that are kind of nuts; I bought Just Cause 4 this weekend, with all the DLC, for 5 dollars.
 
2022-09-08 12:14:50 PM  
There are as many markets as there are human perceptions of it.
 
2022-09-08 1:24:42 PM  

red230: We Ate the Necco Wafers: And in the afterhours, GME shoots up 12%.

There's no rhyme or reason to this.

There's two reasons.

1: They actually beat their revenue expectations.

2: The apes are DRSing more shares than expected which means that there are fewer shares on the market than expected.

Either of those factors on their own would make a stock go up.

The Gamestop story isn't over yet. Retail has direct registered (taken off the market) close to $2,000,000,000 worth of Gamestop stock. Nobody knows what's going to happen when they lock up all of the available shares. It will take about 18 more months at the current pace, they should have all available shares not sold short locked away in the next six months at the absolute latest. There's also a preponderance of evidence that there are millions of shares that are naked short (counterfeit shares that the issuer who isn't Gamestop thought that they would never have to pay out). Yes, there are some unrealistic fools thinking that the shares are going to be worth millions of dollars each. That just means that if the share price goes pear shaped for the people that are short or have fake shares that there'll be fewer shares for them to buy because a significant percentage of the DRSed shares are held by people that won't sell.

This may end up being nothing, it may also be a once in a lifetime opportunity. What it isn't is over.


Why are you assuming the memelords are the only ones involved? Lots of institutional money is invested in Gamestop, and they would be more than happy to sell before the diamond hands. Vanguard doesn't give a crap about 20 years of nostalgia; they want money. And if they can make money by unloading their 3% of Gamestop at $
 
2022-09-08 1:26:59 PM  

Snarcoleptic_Hoosier: red230: We Ate the Necco Wafers: And in the afterhours, GME shoots up 12%.

There's no rhyme or reason to this.

There's two reasons.

1: They actually beat their revenue expectations.

2: The apes are DRSing more shares than expected which means that there are fewer shares on the market than expected.

Either of those factors on their own would make a stock go up.

The Gamestop story isn't over yet. Retail has direct registered (taken off the market) close to $2,000,000,000 worth of Gamestop stock. Nobody knows what's going to happen when they lock up all of the available shares. It will take about 18 more months at the current pace, they should have all available shares not sold short locked away in the next six months at the absolute latest. There's also a preponderance of evidence that there are millions of shares that are naked short (counterfeit shares that the issuer who isn't Gamestop thought that they would never have to pay out). Yes, there are some unrealistic fools thinking that the shares are going to be worth millions of dollars each. That just means that if the share price goes pear shaped for the people that are short or have fake shares that there'll be fewer shares for them to buy because a significant percentage of the DRSed shares are held by people that won't sell.

This may end up being nothing, it may also be a once in a lifetime opportunity. What it isn't is over.

Why are you assuming the memelords are the only ones involved? Lots of institutional money is invested in Gamestop, and they would be more than happy to sell before the diamond hands. Vanguard doesn't give a crap about 20 years of nostalgia; they want money. And if they can make money by unloading their 3% of Gamestop at $


Dang it. Stupid fat fingers on mobile.

If they can make money unloading at $40 a share, they'll do it and let the circlejerk ride itself out.

Things only go "to the moon" if the Apes are the overwhelming majority and there is still a huge shortsell gap.
 
2022-09-08 3:46:32 PM  

Snarcoleptic_Hoosier: Snarcoleptic_Hoosier: red230: We Ate the Necco Wafers: And in the afterhours, GME shoots up 12%.

There's no rhyme or reason to this.

There's two reasons.

1: They actually beat their revenue expectations.

2: The apes are DRSing more shares than expected which means that there are fewer shares on the market than expected.

Either of those factors on their own would make a stock go up.

The Gamestop story isn't over yet. Retail has direct registered (taken off the market) close to $2,000,000,000 worth of Gamestop stock. Nobody knows what's going to happen when they lock up all of the available shares. It will take about 18 more months at the current pace, they should have all available shares not sold short locked away in the next six months at the absolute latest. There's also a preponderance of evidence that there are millions of shares that are naked short (counterfeit shares that the issuer who isn't Gamestop thought that they would never have to pay out). Yes, there are some unrealistic fools thinking that the shares are going to be worth millions of dollars each. That just means that if the share price goes pear shaped for the people that are short or have fake shares that there'll be fewer shares for them to buy because a significant percentage of the DRSed shares are held by people that won't sell.

This may end up being nothing, it may also be a once in a lifetime opportunity. What it isn't is over.

Why are you assuming the memelords are the only ones involved? Lots of institutional money is invested in Gamestop, and they would be more than happy to sell before the diamond hands. Vanguard doesn't give a crap about 20 years of nostalgia; they want money. And if they can make money by unloading their 3% of Gamestop at $

Dang it. Stupid fat fingers on mobile.

If they can make money unloading at $40 a share, they'll do it and let the circlejerk ride itself out.

Things only go "to the moon" if the Apes are the overwhelming majority and there is still a huge ...


Well it looks like they'll have all available shares in 18ish months. I'm not thinking that it will go to some insane price but I wouldn't be shocked if there was considerable profit to be made since there are a lot of apes that won't sell. It all comes down to whether you believe that Wall Street is well regulated and wouldn't allow millions of naked shorts to be floating around or if they're completely corrupt. If you believe that the SEC is doing its job and there aren't crimes being committed then Gamestop is a horrible investment. If you believe that market price is solely decided by profitability then Gamestop is a horrible investment. If you believe that the market is corrupt and there are millions of naked shorts on Gamestop and that the apes won't sell because they think the stock is going to millions of dollars per share then it's a terrific investment.

In a free and open market Gamestop shares are basically worth shiat. However, it's not a free and open market and he apes are going to lock up every share on the market in the next 18 months. At that point (or possibly before) the price will go up significantly due to supply and demand. How much depends on if there are millions of naked shorts and how many of the previous shorts have closed coupled with at what price the investors who own a lot of shares decide to sell. Bottom line is that nobody knows what's going to happen. I personally believe that the price will rise, not because of the strength of the company but because of the strength of the apes. There are those on both sides that make compelling arguments. Yes, I do own some shares and have direct registered them but it's about three percent of my portfolio. Once this is all over I won't own a single share of Gamestop and I'll probably wish I had bought more or bought none at all. Only time will tell.
 
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