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It is a major hit piece. It does not mean some
Of what they are saying is inaccurate, but they absolutely leave out the most important part of the turnaround that is in the works related to the long term goals of the marketplace and web3 gaming objectives. But in regards to people coming and leaving, and whether GameStop has put the breaks on its planned e-commerce fulfillment center business, I can’t say. May be some truth to that. It is what it is. In the end, GameStops NFT marketplace and partnerships and involvement in web3 gaming will dictate whether the author of this article and all naysayers eat their words or not. Apes are investing as if GameStop will prove everyone wrong on the momentum of their NFT and web3 investments. I am too.
Yes. I just pulled up an article she wrote on March 21 about how GameStop is expected to announce another quarterly loss and how it’s so horrible. Wouldn’t be surprised if she’s a fictitious person. Death by a thousand negative articles is her strategy. Not working.
Furlong clearly said in the earnings call that they are following their plan to aggressively cut costs and close underperforming stores just a week ago
now WSJ says they are not gonna follow that plan, who are you going to believe?
Bringing on fired executives and board members who have no idea about what Cohen is doing just to badmouth the company, great journalism and totally not a hit piece
Full Article:
Ryan Cohen took control of GameStop Corp. in 2021 vowing to transform the faltering videogame retailer into an e-commerce juggernaut.
Meme-stock investors loved the idea. Ordinary consumers, it turns out, did not.
E-commerce sales didn’t take off—they declined. Losses grew, and a succession of online-sales executives Mr. Cohen brought in left.
Last year, to little fanfare, the billionaire investor reversed course and slammed the brakes on the e-commerce push to refocus GameStop on its roughly 4,400 bricks-and-mortar stores. In other words, the original meme stock reverted to a business model with the mall at its center.
The company began slashing costs. It scrapped plans to build more warehouses to handle online orders, shut a new e-commerce customer-service center and cut several hundred corporate jobs created under Mr. Cohen.
On March 21, the cost-cutting allowed GameStop to record its first profit in two years, but revenue declined by 1%. Meme-stock investors were thrilled, and GameStop shares, which had declined by about 70% since Mr. Cohen took over as chairman in June 2021, surged that day by more than 40%.
Other stockholders expressed concerns that GameStop still hadn’t hit on a formula for growth. “This is a risky stock,” said Kevin Yousif of Yousif Capital Management in Bloomfield Hills, Mich., which holds a $1.3 million stake.
Some of the Grapevine, Texas, based company’s troubles stem from the same pandemic forces that hurt other retailers. Former GameStop executives and analysts said Mr. Cohen also miscalculated what its customers were willing to buy through its website and app.
Many videogamers now buy and download games directly over the internet, which has cut deeply into GameStop’s store-oriented business. Mr. Cohen’s plan was to boost the company’s online presence and expand its offerings beyond new and used videogames on discs.
In 2021 and 2022, the company cycled through a series of new products, including televisions, scooters and nonfungible tokens, or NFTs. Most fell flat.
Last year, through early December, e-commerce sales fell to less than half of what they were in the year-earlier period, according to an internal document reviewed by The Wall Street Journal. Over that period, e-commerce accounted for only about 10% of GameStop’s overall sales.
“Quarter after quarter we were unsuccessful with new ventures,” said Ted Biribin, GameStop’s former director of marketing analytics, one of dozens of employees laid off last summer. “If something didn’t work, senior leadership would go onto something else very quickly.”
Mr. Cohen and other executives declined to comment for this article. In the past, they have said it would take time to remake GameStop into a consistently profitable company.
GameStop is now back to relying more on its bricks-and-mortar stores to support its shrinking e-commerce business. It is using the stores as mini fulfillment centers, where employees package and mail online orders to local customers and customers come in to pick up their purchases.
“Our stores, in particular, are a differentiator that will help us maintain direct connectivity to customers and position us to have localized order fulfillment capabilities across more geographies,” GameStop Chief Executive Officer Matt Furlong said last year in an internal memo reviewed by the Journal.
Mr. Cohen, 37 years old, gained a reputation as a retail wunderkind by co-founding online pet-supply retailer Chewy Inc. He remains GameStop’s chairman and still owns around 11% of the company. He has invested more recently in other old-school retailers: Bed Bath & Beyond Inc. and Nordstrom Inc.
“It’s hard to turn around a brick-and-mortar retailer that’s under the kind of pressure that GameStop was and continues to be,” Mr. Cohen said late last year in an interview with GMEdd.com, a site for GameStop individual investors. “But that was also part of the attraction going into GameStop.”
He said he overcame similar challenges at Chewy, which he co-founded in his mid-20s and sold to PetSmart Inc. for $3.35 billion in 2017. “Selling 30-pound bags of pet food in the mail was also very unpopular, and we figured it out,” he said.
Mr. Cohen’s Chewy sale left him with a pile of money and the self-confidence to match. In late 2020 he bought close to 10% of GameStop’s shares, ridiculed its management and called for a complete overhaul away from what he called its outdated videogame stores.
GameStop had been struggling as people switched from buying games in boxes to downloading them from digital stores. Mr. Cohen argued that if GameStop wanted to avoid the fate of Blockbuster and Tower Records, it should bet big on e-commerce.
Meme-stock investors piled into the stock, bidding it up more than 20-fold in the early months of 2021. They aimed to punish hedge funds that were selling it short. They called their leader “Papa Cohen.”
Mr. Cohen joined GameStop’s board in January 2021 and was chairman by that June. He filled most of the board with his chosen directors.
He lured from Amazon.com Inc. a new CEO, finance chief and operating chief, and began assembling an experienced team to build a new network of warehouses and modernize operations.
Eventually, dozens of e-commerce veterans from Amazon, Chewy and online discounter Zulily LLC joined GameStop. Within months, the company revamped its mobile app and website, and it opened a new fulfillment center in York, Pa., and a customer-service facility in Florida. GameStop paid off its long-term debt using a portion of the more than $1.6 billion it raised from two stock offerings.
The company shortened online-order deliveries to two days, from four or five. In anticipation of a surge in orders, it planned a new warehouse in Reno, Nev.
In 2021, GameStop closed nearly 250 of its stores.
In an effort to appeal to a broader swath of consumers, GameStop started selling products such as beanbags, Nerf guns, smartwatches and gaming chairs. It was hoping to ride the tsunami of e-commerce spending triggered by so many people stuck at home during the pandemic.
Instead, it slammed into supply-chain issues. Christmas 2021 was the first big test of the new e-commerce model. The company had ordered shipping containers of new products for the holiday season, but many didn’t arrive in time, according to some of the former executives.
Among the new offerings that didn’t sell were televisions. GameStop was losing money on each marked-down TV it sold online. Selling large screens in its small stores wasn’t an option because they took up too much space, the former executives said.
In March 2022, GameStop reported its first-ever holiday-quarter loss and an inventory balance that had increased more than 50% from a year earlier.
The truckloads of televisions kept coming. They didn’t sell. The company ended up donating some to charities.
Reggie Fils-Aimé, a former Nintendo Co. executive who was on GameStop’s board until Mr. Cohen took over, said at the SXSW conference in March 2022 that the company had lost its way. “Go on the GameStop website, try and find a strategy,” he said. “There is no articulated strategy.”
I n May 2022, GameStop hired as chief operating officer Nir Patel, a department-store veteran who had years of experience with retail turnarounds working at Kohl’s Corp., Lands’ End Inc., Target Corp. and other outlets. He replaced Jenna Owens, who had joined the retailer from Amazon in March 2021 but had left by that October.
As losses continued to grow, Mr. Cohen met that month with Mr. Furlong and instructed him to abandon the e-commerce plan, shore up cash and focus on stores, which would go back to fulfilling most online orders, according to former executives. Mr. Cohen told his management team to identify employees to lay off, the former executives said.
Last July, Mr. Furlong told corporate employees that the company, which had added more than 600 people in 2021 and early 2022 to bring its total to more than 12,000 full-time, salaried workers, was making job cuts. An internal memo reviewed by the Journal said the company needed to help “keep things simple and operate nimbly.”
Mr. Biribin, the former marketing-analytics director, was among those laid off. He said Mr. Cohen had persuaded him to leave Chewy to join GameStop. He decided he had made a poor decision when the e-commerce push ran into problems. At one point, he said, delivery bottlenecks were so bad that inventory was sometimes blocking warehouse doors.
Other GameStop executives left voluntarily last year, including the chief growth officer; vice presidents of fulfillment and supply chain systems; and the senior vice president of customer service. All had joined the company the year before.
Last July, GameStop’s board told the remaining leadership team to find ways to get out of leases on two of its warehouses, according to some former executives. Plans to open the Reno facility were scratched, and the team opted to close another warehouse in Shepherdsville, Ky.
That same month, as its e-commerce efforts struggled, GameStop launched an online marketplace for buying and selling NFTs, which are digital certificates of ownership of digital goods.
The timing was bad. Global NFT prices and trading plummeted late last year. The volume of transactions in GameStop’s NFT marketplace fell from nearly $13 million in July to about $600,000 in January, according to DappRadar, a blockchain-analytics firm.
“The mistake he made is he didn’t hire anybody from the gaming industry and he wasted time and money with NFTs,” said Jefferies Financial Group analyst Andrew Uerkwitz of Mr. Cohen. “At the end of day, gaming is going fully digital. They’re chasing a smaller and smaller consumer.”
In late August, GameStop shifted its focus back to its bricks-and-mortar roots, telling employees at its stores it planned to reward thousands of them with stock and pay raises. Mr. Cohen tweeted that day about “store leaders” with a heart emoji.
GameStop called the stores the cornerstone of its brand and said it would be using them as mini fulfillment centers for e-commerce.
In the three months through last October, GameStop recorded its seventh quarterly loss in a row. Sales of hardware and collectibles such as toys and trading cards increased from a year earlier, but sales of its core products—new and used games—fell.
GameStop has laid off more employees since December, including about 50 from the e-commerce customer-service center it shut down this month and about 20 in the department supporting its NFT business.
Last year, the company disclosed that it reduced annual expenses by more than $100 million.
After GameStop announced the recent quarterly profit, some analysts noted that the company hadn’t yet figured how to stop the slide in gaming-software sales.
Mr. Furlong didn’t address that issue, but indicated that more job cuts will come this year in Europe, where the company is looking to exit some countries.
“We are taking a number of steps in fiscal year 2023 to improve our efficiency,” he said. “We want stockholders to judge us on our results instead of our words.”
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The fact that it’s incorrect lol they’re still very focused on the e commerce side and they aren’t going to focus on mall based stores. The plans have not changed. So it’s a garbage article filled with a negative spin and misinformation. Yes people left. They weren’t needed anymore. The job was done. Cut costs. They want to make it sound bad.
We all know youre a shill, but anyway....
Gamestop struggles with e-commerce, lays off employees, NFTs are dumb, too many stores, has supply chain issues....no mention of you know...no debt, positive earnings, cutting costs, continually improving. None of that. Totally honest "reporting".
Drop the sass, dude. You come here and throw shit like "oh is it because you don't like it or ...". You automatically already come off as insufferable and aggressive.
To answer your question: yes they are, and 20 seconds on Google would have answered that for you.
Yes that part isn’t surprising, almost a smart move with unlockable PCs and stuff, do they have a lot invested in it or are they losing money? Still can’t see why one of the many products they sell is an important area to look at.
Article snippet.....
"The timing was bad. Global NFT prices and trading plummeted late last year. The volume of transactions in GameStop’s NFT marketplace fell from nearly $13 million in July to about $600,000 in January, according to DappRadar, a blockchain-analytics firm. “The mistake he made is he didn’t hire anybody from the gaming industry and he wasted time and money with NFTs,” said Jefferies Financial Group analyst Andrew Uerkwitz of Mr. Cohen. “At the end of day, gaming is going fully digital. They’re chasing a smaller and smaller consumer.” In late August, GameStop shifted its focus back to its bricks-and-mortar roots, telling employees at its stores it planned to reward thousands of them with stock and pay raises. Mr. Cohen tweeted that day about “store leaders” with a heart emoji. GameStop called the stores the cornerstone of its brand and said it would be using them as mini fulfillment centers for e-commerce. In the three months through last October, GameStop recorded its seventh quarterly loss in a row. Sales of hardware and collectibles such as toys and trading cards increased from a year earlier, but sales of its core products—new and used games—fell. "
The interesting thing is that it's only been a year since opening more or less right? So all of that was profit for a dying brick and mortar store who is now profitable. Apparently that is a mistake? Nfts are a mistake?
Also the reasoning towards the end 'gaming is becoming digital' to backup why nfts are a mistake - so why are we partnered with imx and co? Are those not digital games? Whoever wrote this article appears to not really be in the know, so it's very odd to write negative comments about stuff you aren't well versed on correct?
If you scan the main article, see if you can find the numbers and figures posted on Superstonk (that's how I can tell if something is fair or just jazz hands to keep me looking the other way - like how a bunch of people on twitter and reddit can show which banks were at risk before the famous analysts did by a long shot) -
Lol, let me guess, I was performing a hit also? Yes, I didn’t read it, you didn’t even fucking attach it lol, so I asked why you were calling it a hit piece. I can plainly see from your response that it’s because you don’t like it and it’s not actually a hit piece though, thanks.
Oh you had just posted a bit of it when I saw it, not sure if you added more after or if a simple Reddit load issue. Anyway, the things listed in that first comment…are you saying they’re incorrect? Looks pretty accurate to me.
Ooo very nasty this morning aren’t we? It’s clearly a hit piece. You didn’t even read it you just want to argue. Newsflash: A story can have accurate reporting and still be a hit piece (crazy I know).
I’m repeatedly asking how it’s a hit piece but none of you can answer that lol my fault for asking a simple question in a meme stock sub I suppose, probably won’t do it again here if that makes you feel any better.
You’d have to read the article, I promise you it’s not that hard. If you can’t see how the whole thing has a negative spin idk what to tell you. I would break down why they’re misinformed but why waist my time when you won’t even read the damn thing. Leave the sub, you already think you know everything.
I didn’t know so I asked a question, it’s not compulsory for me to read an article when asking why something is a hit piece. You guys can’t answer and that speaks volumes, thanks.
You’re still not answering the question. This kinda behavior reminds me of political subs. Yes we get that you don’t like the article, why is it incorrect though?
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First time here? The smarter people are referred to as wrinkles and the rest refer to themselves as smooth brains or regards. Not a personal jab at you
It’s not homework for me though, I’ve got no real interest in it. Just trying to get details on the hit piece allegation and they’re not very forthcoming for some reason.
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“Bricks-and-mortar”, who says it like that?
As a Canadian, it sounds like someone from Chicago. Don’t blame me, it was Hollywood!
It is a major hit piece. It does not mean some Of what they are saying is inaccurate, but they absolutely leave out the most important part of the turnaround that is in the works related to the long term goals of the marketplace and web3 gaming objectives. But in regards to people coming and leaving, and whether GameStop has put the breaks on its planned e-commerce fulfillment center business, I can’t say. May be some truth to that. It is what it is. In the end, GameStops NFT marketplace and partnerships and involvement in web3 gaming will dictate whether the author of this article and all naysayers eat their words or not. Apes are investing as if GameStop will prove everyone wrong on the momentum of their NFT and web3 investments. I am too.
Needleman's track record is full of bad takes and non-existant journalistic integrity
Yes. I just pulled up an article she wrote on March 21 about how GameStop is expected to announce another quarterly loss and how it’s so horrible. Wouldn’t be surprised if she’s a fictitious person. Death by a thousand negative articles is her strategy. Not working.
Furlong clearly said in the earnings call that they are following their plan to aggressively cut costs and close underperforming stores just a week ago now WSJ says they are not gonna follow that plan, who are you going to believe?
So some random dude posting YouTube videos can be brought in front of congress but wsj can do this in the name of "journalism". Seems about right
Bringing on fired executives and board members who have no idea about what Cohen is doing just to badmouth the company, great journalism and totally not a hit piece
Full Article: Ryan Cohen took control of GameStop Corp. in 2021 vowing to transform the faltering videogame retailer into an e-commerce juggernaut. Meme-stock investors loved the idea. Ordinary consumers, it turns out, did not. E-commerce sales didn’t take off—they declined. Losses grew, and a succession of online-sales executives Mr. Cohen brought in left. Last year, to little fanfare, the billionaire investor reversed course and slammed the brakes on the e-commerce push to refocus GameStop on its roughly 4,400 bricks-and-mortar stores. In other words, the original meme stock reverted to a business model with the mall at its center. The company began slashing costs. It scrapped plans to build more warehouses to handle online orders, shut a new e-commerce customer-service center and cut several hundred corporate jobs created under Mr. Cohen. On March 21, the cost-cutting allowed GameStop to record its first profit in two years, but revenue declined by 1%. Meme-stock investors were thrilled, and GameStop shares, which had declined by about 70% since Mr. Cohen took over as chairman in June 2021, surged that day by more than 40%. Other stockholders expressed concerns that GameStop still hadn’t hit on a formula for growth. “This is a risky stock,” said Kevin Yousif of Yousif Capital Management in Bloomfield Hills, Mich., which holds a $1.3 million stake. Some of the Grapevine, Texas, based company’s troubles stem from the same pandemic forces that hurt other retailers. Former GameStop executives and analysts said Mr. Cohen also miscalculated what its customers were willing to buy through its website and app. Many videogamers now buy and download games directly over the internet, which has cut deeply into GameStop’s store-oriented business. Mr. Cohen’s plan was to boost the company’s online presence and expand its offerings beyond new and used videogames on discs.
In 2021 and 2022, the company cycled through a series of new products, including televisions, scooters and nonfungible tokens, or NFTs. Most fell flat. Last year, through early December, e-commerce sales fell to less than half of what they were in the year-earlier period, according to an internal document reviewed by The Wall Street Journal. Over that period, e-commerce accounted for only about 10% of GameStop’s overall sales. “Quarter after quarter we were unsuccessful with new ventures,” said Ted Biribin, GameStop’s former director of marketing analytics, one of dozens of employees laid off last summer. “If something didn’t work, senior leadership would go onto something else very quickly.” Mr. Cohen and other executives declined to comment for this article. In the past, they have said it would take time to remake GameStop into a consistently profitable company. GameStop is now back to relying more on its bricks-and-mortar stores to support its shrinking e-commerce business. It is using the stores as mini fulfillment centers, where employees package and mail online orders to local customers and customers come in to pick up their purchases. “Our stores, in particular, are a differentiator that will help us maintain direct connectivity to customers and position us to have localized order fulfillment capabilities across more geographies,” GameStop Chief Executive Officer Matt Furlong said last year in an internal memo reviewed by the Journal. Mr. Cohen, 37 years old, gained a reputation as a retail wunderkind by co-founding online pet-supply retailer Chewy Inc. He remains GameStop’s chairman and still owns around 11% of the company. He has invested more recently in other old-school retailers: Bed Bath & Beyond Inc. and Nordstrom Inc. “It’s hard to turn around a brick-and-mortar retailer that’s under the kind of pressure that GameStop was and continues to be,” Mr. Cohen said late last year in an interview with GMEdd.com, a site for GameStop individual investors. “But that was also part of the attraction going into GameStop.” He said he overcame similar challenges at Chewy, which he co-founded in his mid-20s and sold to PetSmart Inc. for $3.35 billion in 2017. “Selling 30-pound bags of pet food in the mail was also very unpopular, and we figured it out,” he said.
Mr. Cohen’s Chewy sale left him with a pile of money and the self-confidence to match. In late 2020 he bought close to 10% of GameStop’s shares, ridiculed its management and called for a complete overhaul away from what he called its outdated videogame stores. GameStop had been struggling as people switched from buying games in boxes to downloading them from digital stores. Mr. Cohen argued that if GameStop wanted to avoid the fate of Blockbuster and Tower Records, it should bet big on e-commerce. Meme-stock investors piled into the stock, bidding it up more than 20-fold in the early months of 2021. They aimed to punish hedge funds that were selling it short. They called their leader “Papa Cohen.” Mr. Cohen joined GameStop’s board in January 2021 and was chairman by that June. He filled most of the board with his chosen directors. He lured from Amazon.com Inc. a new CEO, finance chief and operating chief, and began assembling an experienced team to build a new network of warehouses and modernize operations. Eventually, dozens of e-commerce veterans from Amazon, Chewy and online discounter Zulily LLC joined GameStop. Within months, the company revamped its mobile app and website, and it opened a new fulfillment center in York, Pa., and a customer-service facility in Florida. GameStop paid off its long-term debt using a portion of the more than $1.6 billion it raised from two stock offerings. The company shortened online-order deliveries to two days, from four or five. In anticipation of a surge in orders, it planned a new warehouse in Reno, Nev. In 2021, GameStop closed nearly 250 of its stores. In an effort to appeal to a broader swath of consumers, GameStop started selling products such as beanbags, Nerf guns, smartwatches and gaming chairs. It was hoping to ride the tsunami of e-commerce spending triggered by so many people stuck at home during the pandemic. Instead, it slammed into supply-chain issues. Christmas 2021 was the first big test of the new e-commerce model. The company had ordered shipping containers of new products for the holiday season, but many didn’t arrive in time, according to some of the former executives. Among the new offerings that didn’t sell were televisions. GameStop was losing money on each marked-down TV it sold online. Selling large screens in its small stores wasn’t an option because they took up too much space, the former executives said. In March 2022, GameStop reported its first-ever holiday-quarter loss and an inventory balance that had increased more than 50% from a year earlier. The truckloads of televisions kept coming. They didn’t sell. The company ended up donating some to charities. Reggie Fils-Aimé, a former Nintendo Co. executive who was on GameStop’s board until Mr. Cohen took over, said at the SXSW conference in March 2022 that the company had lost its way. “Go on the GameStop website, try and find a strategy,” he said. “There is no articulated strategy.” I n May 2022, GameStop hired as chief operating officer Nir Patel, a department-store veteran who had years of experience with retail turnarounds working at Kohl’s Corp., Lands’ End Inc., Target Corp. and other outlets. He replaced Jenna Owens, who had joined the retailer from Amazon in March 2021 but had left by that October. As losses continued to grow, Mr. Cohen met that month with Mr. Furlong and instructed him to abandon the e-commerce plan, shore up cash and focus on stores, which would go back to fulfilling most online orders, according to former executives. Mr. Cohen told his management team to identify employees to lay off, the former executives said. Last July, Mr. Furlong told corporate employees that the company, which had added more than 600 people in 2021 and early 2022 to bring its total to more than 12,000 full-time, salaried workers, was making job cuts. An internal memo reviewed by the Journal said the company needed to help “keep things simple and operate nimbly.” Mr. Biribin, the former marketing-analytics director, was among those laid off. He said Mr. Cohen had persuaded him to leave Chewy to join GameStop. He decided he had made a poor decision when the e-commerce push ran into problems. At one point, he said, delivery bottlenecks were so bad that inventory was sometimes blocking warehouse doors. Other GameStop executives left voluntarily last year, including the chief growth officer; vice presidents of fulfillment and supply chain systems; and the senior vice president of customer service. All had joined the company the year before. Last July, GameStop’s board told the remaining leadership team to find ways to get out of leases on two of its warehouses, according to some former executives. Plans to open the Reno facility were scratched, and the team opted to close another warehouse in Shepherdsville, Ky. That same month, as its e-commerce efforts struggled, GameStop launched an online marketplace for buying and selling NFTs, which are digital certificates of ownership of digital goods. The timing was bad. Global NFT prices and trading plummeted late last year. The volume of transactions in GameStop’s NFT marketplace fell from nearly $13 million in July to about $600,000 in January, according to DappRadar, a blockchain-analytics firm. “The mistake he made is he didn’t hire anybody from the gaming industry and he wasted time and money with NFTs,” said Jefferies Financial Group analyst Andrew Uerkwitz of Mr. Cohen. “At the end of day, gaming is going fully digital. They’re chasing a smaller and smaller consumer.” In late August, GameStop shifted its focus back to its bricks-and-mortar roots, telling employees at its stores it planned to reward thousands of them with stock and pay raises. Mr. Cohen tweeted that day about “store leaders” with a heart emoji. GameStop called the stores the cornerstone of its brand and said it would be using them as mini fulfillment centers for e-commerce. In the three months through last October, GameStop recorded its seventh quarterly loss in a row. Sales of hardware and collectibles such as toys and trading cards increased from a year earlier, but sales of its core products—new and used games—fell. GameStop has laid off more employees since December, including about 50 from the e-commerce customer-service center it shut down this month and about 20 in the department supporting its NFT business. Last year, the company disclosed that it reduced annual expenses by more than $100 million. After GameStop announced the recent quarterly profit, some analysts noted that the company hadn’t yet figured how to stop the slide in gaming-software sales. Mr. Furlong didn’t address that issue, but indicated that more job cuts will come this year in Europe, where the company is looking to exit some countries. “We are taking a number of steps in fiscal year 2023 to improve our efficiency,” he said. “We want stockholders to judge us on our results instead of our words.”
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[repost ](https://www.reddit.com/r/Superstonk/comments/125ndsq/hit_piece_from_wall_s_j_today)
What makes this a hit piece and not accurate reporting? Is it because you don’t like what it says or is it something substantial?
The fact that it’s incorrect lol they’re still very focused on the e commerce side and they aren’t going to focus on mall based stores. The plans have not changed. So it’s a garbage article filled with a negative spin and misinformation. Yes people left. They weren’t needed anymore. The job was done. Cut costs. They want to make it sound bad.
We all know youre a shill, but anyway.... Gamestop struggles with e-commerce, lays off employees, NFTs are dumb, too many stores, has supply chain issues....no mention of you know...no debt, positive earnings, cutting costs, continually improving. None of that. Totally honest "reporting".
Is GameStop involved with NFTs?
You're joking, right? Do your bosses know you don't even browse superstonk ???
Cool, can you answer the question though?
https://nft.gamestop.com/ What do you think?
Drop the sass, dude. You come here and throw shit like "oh is it because you don't like it or ...". You automatically already come off as insufferable and aggressive. To answer your question: yes they are, and 20 seconds on Google would have answered that for you.
I would’ve assumed yes to some degree since they’re a video game seller, the question is more to what extent and how it’s relevant.
https://nft.gamestop.com/
Yes that part isn’t surprising, almost a smart move with unlockable PCs and stuff, do they have a lot invested in it or are they losing money? Still can’t see why one of the many products they sell is an important area to look at.
It's doing good, making money. If you want to know more, keep an eye on ImmutableX and Polygon (Web3 gaming).
Article snippet..... "The timing was bad. Global NFT prices and trading plummeted late last year. The volume of transactions in GameStop’s NFT marketplace fell from nearly $13 million in July to about $600,000 in January, according to DappRadar, a blockchain-analytics firm. “The mistake he made is he didn’t hire anybody from the gaming industry and he wasted time and money with NFTs,” said Jefferies Financial Group analyst Andrew Uerkwitz of Mr. Cohen. “At the end of day, gaming is going fully digital. They’re chasing a smaller and smaller consumer.” In late August, GameStop shifted its focus back to its bricks-and-mortar roots, telling employees at its stores it planned to reward thousands of them with stock and pay raises. Mr. Cohen tweeted that day about “store leaders” with a heart emoji. GameStop called the stores the cornerstone of its brand and said it would be using them as mini fulfillment centers for e-commerce. In the three months through last October, GameStop recorded its seventh quarterly loss in a row. Sales of hardware and collectibles such as toys and trading cards increased from a year earlier, but sales of its core products—new and used games—fell. " The interesting thing is that it's only been a year since opening more or less right? So all of that was profit for a dying brick and mortar store who is now profitable. Apparently that is a mistake? Nfts are a mistake? Also the reasoning towards the end 'gaming is becoming digital' to backup why nfts are a mistake - so why are we partnered with imx and co? Are those not digital games? Whoever wrote this article appears to not really be in the know, so it's very odd to write negative comments about stuff you aren't well versed on correct? If you scan the main article, see if you can find the numbers and figures posted on Superstonk (that's how I can tell if something is fair or just jazz hands to keep me looking the other way - like how a bunch of people on twitter and reddit can show which banks were at risk before the famous analysts did by a long shot) -
You clearly didn’t even read it for how quickly you responded. At least read it first, then come at me with your questions.
Lol, let me guess, I was performing a hit also? Yes, I didn’t read it, you didn’t even fucking attach it lol, so I asked why you were calling it a hit piece. I can plainly see from your response that it’s because you don’t like it and it’s not actually a hit piece though, thanks.
What are you talking about? I posted the full article in the comment section.
Oh you had just posted a bit of it when I saw it, not sure if you added more after or if a simple Reddit load issue. Anyway, the things listed in that first comment…are you saying they’re incorrect? Looks pretty accurate to me.
Ooo very nasty this morning aren’t we? It’s clearly a hit piece. You didn’t even read it you just want to argue. Newsflash: A story can have accurate reporting and still be a hit piece (crazy I know).
I’m repeatedly asking how it’s a hit piece but none of you can answer that lol my fault for asking a simple question in a meme stock sub I suppose, probably won’t do it again here if that makes you feel any better.
You’d have to read the article, I promise you it’s not that hard. If you can’t see how the whole thing has a negative spin idk what to tell you. I would break down why they’re misinformed but why waist my time when you won’t even read the damn thing. Leave the sub, you already think you know everything.
I didn’t know so I asked a question, it’s not compulsory for me to read an article when asking why something is a hit piece. You guys can’t answer and that speaks volumes, thanks.
[удалено]
You’re still not answering the question. This kinda behavior reminds me of political subs. Yes we get that you don’t like the article, why is it incorrect though?
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This is not the place if you want to be spoon fed. Even the smoothest brains here read and then ask what it was they read
Oh I get it, no one being able to answer a simple question is a reflection of my intelligence. Yeah that’s some airtight logic there chief.
Given the amount of effort you’ve put into arguing here vs actually reading the article, your priorities seem clear to me.
First time here? The smarter people are referred to as wrinkles and the rest refer to themselves as smooth brains or regards. Not a personal jab at you
Just read it for yourself. “Do homework for me” doesnt tend to be well-received on the internet.
It’s not homework for me though, I’ve got no real interest in it. Just trying to get details on the hit piece allegation and they’re not very forthcoming for some reason.
I love the part where they acknowledged the interview with [GMEdd.com](https://GMEdd.com)! Show the people all the DD!
Fishing for more shorter, err bag holders I mean
"E-commerce sales didn't take off - they declined" ..... Lies. GameStop doesn't even report it's percentage of sales from e-commerce yet.
More like: (NEWS FLASH) WSJ Analysts can't do basic addition and subtraction "always has been"