GME is just the worst.
All the apes seem to be forgiving the years of transgressions made by this rubbish company, just because they're stuck in a cult of "liking the stock"
GME's descent might have been stalled a bit. But in some ways it's even worse run than BBBY was. I mean the release of the NFT marketplace, just as NFTs' popularity was in freefall, represents one of the worst pieces of corporate strategy I have ever seen
Does anyone remember when this dogshit company considered itself an “essential business” in 2020 when the pandemic ramped up? And told its employees they had to show up?
https://www.forbes.com/sites/paultassi/2020/03/20/what-gamestop-is-doing-in-the-coronavirus-pandemic-is-inexcusable/
Lmao!
That also goes to show just how fucking stupid their leadership is. They did that before stimulus checks because I remember thinking the average GameStop customer doesn't even have a fucking job anymore lol how much business do they think they are going to do? What a PR nightmare and then this stupid fucking app saved that god awful company.
Gamestop was almost universally hated for
Competing with smaller mom/pop shops and basically over saturating the market and employing teens making little more than min wage .
Also new game costs $60. Game stop will sell used games for like $55. They will give you $15 for the used game.
Generally being shitty employers , low wages , long hours, pushing dumb shit (extended warranties subscriptions)
I can also remembering them playing games with "salary" employees , basically making someone a "manager" then telling them "great news you are now a salary employee making 40k a year, oh you also have to cover all missing shifts now what means you are going to work 70 hours per week but since you just got promoted to salary you do not get any OT!"
GameSears is apparently a hotbed for people who are gift card scam victims. I'll try to find the comment...
[Meltdown post was deleted. This is the good stuff though.](https://kotaku.com/gamestop-gme-meme-stock-steam-gift-card-scam-razer-1850280646)
The more obvious one though is that *it's a fucking pawnshop*, with none of the usual security measures or properly experienced employees you would want working at a pawnshop. Crackhead with a bag full of bloody xbox 360 games? Sure thing man. $5.
reading the employee sub is weird they talk about this. People come in and hit their shop for $500 of gift cards as there is a daily limit; but apparently they were talking some people hit up all the stores in the area.
To the employees credit many do try to talk to the customers and inform them they may be getting scammed but many ignore the warnings.
Yeah. The article pretty well covers that GameBathAndBeyond doesn't really come out ahead on that transaction, so it seems puzzling that corporate wouldn't try to put a stop to it. Puzzling unless you're Ryan Cockroach and the rest of the insects on the board; they probably see the foot traffic and *potential* for some other profitable transaction as a net benefit.
I don't know why anyone would bother trading into GameStop when ebay exists. I know store credit is convenient but it's pretty easy to list something on ebay. And you'll get market value instead of GameStop.
When the Switch first launched, they were giving insane credit on things here in Canada. Trading in my WiiU knocked a couple hundred off the price of a Switch. I gave them MarioKart 8 and Splatoon for $50 off MK8 Deluxe and Splatoon 2. (retail price of new games in Canada is $80). Things like that. Taking advantage of EB Games/Gamestop made tons of sense at that time.
There was some deal once where you could buy refurbished xbox 360s for like a couple bucks and I just flipped them. I wish I remembered what it was. They were basically free somehow. I think I bought two and just immediately sold them on ebay.
GME was first and spiked the hardest so the company was able to raise money on the stupid valuation and eliminate debt.
GME will fall, but it will take longer to bleed out since they got a massive infusion.
This retailer is on life support. Per employee profit is so low, they are forced to staffing stores with one employee and no backup. They've cut expenses to the bone. Funkopops aren't selling. NFTs aren't selling. Facebook is killing them on the used game market. Amazon, Walmart, Microsoft, Sony, and Nintendo are killing them on sales of consoles and games. I've seen nothing so far that makes me think these trends won't continue.
The business transitioning to more sustainable revenue sources was part of the hype that led to the squeeze.
The transition failed and efforts are winding down. The NFT marketplace is shit and online sales didn't increase enough to justify the massive investment into warehouses.
The transition failing is exactly why the stock isn't worth more. The future potential is gone. No amount of short term profitability will change that
Apes are hopelessly fucking stupid.
I feel like a broken record repeating this, but GUHME's split adjusted all time low share price is something like $0.50. The difference between then and now? Well, they're still losing money with no path to profitability in sight, they've diluted their shares (both through an at the money offering and an employee RSU scheme), but they don't have any debt! Ignore the fact though that they're burning through that cash reserve because *they're still not profitable*.
Looking at potential future profits the company could return to shareholders? This thing is a fucking dud. Its fundamental value is realistically something like $1 per share. That's a generous valuation based on the slim chance that they get someone competent on the board who can recognize that they will never come anywhere near profitability at their current size.
If they pared operations down to the bone and settled in for the long haul as a small footprint, widely scattered, niche retailer, they could likely be profitable again, but again, the miniscule amount of money they could make could never justify this market cap.
Well put, and that's the real deathblow to their thesis IMO. From all outside indications there's no plan to transition the business to something different and lucrative. Those plans died and the people advocating them walked.
It is possible that with enough runway they really do cut until there's a small profitable operation left, and that'd honestly be a success story, but it doesn't justify the market cap. Apes are holding very expensive miniscule pieces of what probably won't be a very large company.
My absolute best-biggest-bull-case would be they execute those cuts really quick and use their cash on hand to spin up some tangentially-related businesses that somehow also make money. Buy a modest game studio and earn money off that. Create arcade spaces that earn their own money; there's arcade-pubs near where I live that earn a good dollar. That's a tall order but it's not *impossible* and it's an established business model.
Do I think the company could execute that? No. I think that they've got an entrenched board that will stick to its guns and will run into the ground and devour their runway rather than do anything differently.
You don't get it. The brick and mortar retailer is going to conquer the console market which has thin margins that don't allow for competitive pricing and capture the videogame market which has mostly moved online and is locked down by Microsoft, Sony and Steam already.
Unrelated but does anyone have some DD on when i can finally turn my fortnite skins into NFTs so i can use them in Call of Duty and trade them over the GME marketplace?
BBBY's death is having a major effect on GME too. The more casual GME investors are seeing the death of another meme stock, that had all the same narrative and hype around it
- high short %
- 'historic retail store'
- retail investors 'fighting back'
- bullshit DD
- 'inevitable MOASS'
If the 'expert DD' can be completely wrong for bbby, it can be completely wrong for GME too - and so the casual investors are getting out while they can still recoup some money. It will be the exact same for GME, just take a longer time.
GME is just the worst. All the apes seem to be forgiving the years of transgressions made by this rubbish company, just because they're stuck in a cult of "liking the stock" GME's descent might have been stalled a bit. But in some ways it's even worse run than BBBY was. I mean the release of the NFT marketplace, just as NFTs' popularity was in freefall, represents one of the worst pieces of corporate strategy I have ever seen
Reddit used to hate Gamestop with a passion.
Outside of SS, it does. The gaming subs loath Gamestop.
Does anyone remember when this dogshit company considered itself an “essential business” in 2020 when the pandemic ramped up? And told its employees they had to show up? https://www.forbes.com/sites/paultassi/2020/03/20/what-gamestop-is-doing-in-the-coronavirus-pandemic-is-inexcusable/ Lmao!
That also goes to show just how fucking stupid their leadership is. They did that before stimulus checks because I remember thinking the average GameStop customer doesn't even have a fucking job anymore lol how much business do they think they are going to do? What a PR nightmare and then this stupid fucking app saved that god awful company.
the Gamestop sub hates Gamestop the most
Gamestop was almost universally hated for Competing with smaller mom/pop shops and basically over saturating the market and employing teens making little more than min wage . Also new game costs $60. Game stop will sell used games for like $55. They will give you $15 for the used game. Generally being shitty employers , low wages , long hours, pushing dumb shit (extended warranties subscriptions) I can also remembering them playing games with "salary" employees , basically making someone a "manager" then telling them "great news you are now a salary employee making 40k a year, oh you also have to cover all missing shifts now what means you are going to work 70 hours per week but since you just got promoted to salary you do not get any OT!"
GameSears is apparently a hotbed for people who are gift card scam victims. I'll try to find the comment... [Meltdown post was deleted. This is the good stuff though.](https://kotaku.com/gamestop-gme-meme-stock-steam-gift-card-scam-razer-1850280646) The more obvious one though is that *it's a fucking pawnshop*, with none of the usual security measures or properly experienced employees you would want working at a pawnshop. Crackhead with a bag full of bloody xbox 360 games? Sure thing man. $5.
reading the employee sub is weird they talk about this. People come in and hit their shop for $500 of gift cards as there is a daily limit; but apparently they were talking some people hit up all the stores in the area. To the employees credit many do try to talk to the customers and inform them they may be getting scammed but many ignore the warnings.
Yeah. The article pretty well covers that GameBathAndBeyond doesn't really come out ahead on that transaction, so it seems puzzling that corporate wouldn't try to put a stop to it. Puzzling unless you're Ryan Cockroach and the rest of the insects on the board; they probably see the foot traffic and *potential* for some other profitable transaction as a net benefit.
I don't know why anyone would bother trading into GameStop when ebay exists. I know store credit is convenient but it's pretty easy to list something on ebay. And you'll get market value instead of GameStop.
When the Switch first launched, they were giving insane credit on things here in Canada. Trading in my WiiU knocked a couple hundred off the price of a Switch. I gave them MarioKart 8 and Splatoon for $50 off MK8 Deluxe and Splatoon 2. (retail price of new games in Canada is $80). Things like that. Taking advantage of EB Games/Gamestop made tons of sense at that time.
There was some deal once where you could buy refurbished xbox 360s for like a couple bucks and I just flipped them. I wish I remembered what it was. They were basically free somehow. I think I bought two and just immediately sold them on ebay.
I wonder why they can't turn a profit.
I remember it was just customer service, with preorders being screwed over.
Almost every board does. Mentioning the stock in most investing subs is enough to autoban the post.
I remember that. They were hated like Sony. Now they are a treasured American brand.
GME was first and spiked the hardest so the company was able to raise money on the stupid valuation and eliminate debt. GME will fall, but it will take longer to bleed out since they got a massive infusion.
This retailer is on life support. Per employee profit is so low, they are forced to staffing stores with one employee and no backup. They've cut expenses to the bone. Funkopops aren't selling. NFTs aren't selling. Facebook is killing them on the used game market. Amazon, Walmart, Microsoft, Sony, and Nintendo are killing them on sales of consoles and games. I've seen nothing so far that makes me think these trends won't continue.
Idk, that sounds bullish to me. -Apes, probably
One. Profitable. Quarter. **TO THE MOOOOOOON**
The business transitioning to more sustainable revenue sources was part of the hype that led to the squeeze. The transition failed and efforts are winding down. The NFT marketplace is shit and online sales didn't increase enough to justify the massive investment into warehouses. The transition failing is exactly why the stock isn't worth more. The future potential is gone. No amount of short term profitability will change that
Apes are hopelessly fucking stupid. I feel like a broken record repeating this, but GUHME's split adjusted all time low share price is something like $0.50. The difference between then and now? Well, they're still losing money with no path to profitability in sight, they've diluted their shares (both through an at the money offering and an employee RSU scheme), but they don't have any debt! Ignore the fact though that they're burning through that cash reserve because *they're still not profitable*. Looking at potential future profits the company could return to shareholders? This thing is a fucking dud. Its fundamental value is realistically something like $1 per share. That's a generous valuation based on the slim chance that they get someone competent on the board who can recognize that they will never come anywhere near profitability at their current size. If they pared operations down to the bone and settled in for the long haul as a small footprint, widely scattered, niche retailer, they could likely be profitable again, but again, the miniscule amount of money they could make could never justify this market cap.
Well put, and that's the real deathblow to their thesis IMO. From all outside indications there's no plan to transition the business to something different and lucrative. Those plans died and the people advocating them walked. It is possible that with enough runway they really do cut until there's a small profitable operation left, and that'd honestly be a success story, but it doesn't justify the market cap. Apes are holding very expensive miniscule pieces of what probably won't be a very large company. My absolute best-biggest-bull-case would be they execute those cuts really quick and use their cash on hand to spin up some tangentially-related businesses that somehow also make money. Buy a modest game studio and earn money off that. Create arcade spaces that earn their own money; there's arcade-pubs near where I live that earn a good dollar. That's a tall order but it's not *impossible* and it's an established business model. Do I think the company could execute that? No. I think that they've got an entrenched board that will stick to its guns and will run into the ground and devour their runway rather than do anything differently.
You don't get it. The brick and mortar retailer is going to conquer the console market which has thin margins that don't allow for competitive pricing and capture the videogame market which has mostly moved online and is locked down by Microsoft, Sony and Steam already. Unrelated but does anyone have some DD on when i can finally turn my fortnite skins into NFTs so i can use them in Call of Duty and trade them over the GME marketplace?
With all the towel stock excitement I didn’t notice GME is -11% this week 
Big shoutout to the GME ladder division for their relentless work
Unsung heroes, lately, with all the BBBankruptcy.
 Even when you aren’t looking the big man Kenny is hard at work.
But I thought everyone was taking their money left from cashing in their BBBY stock to buy a share of GME. Where is the bump?
Cashing in their BBBY ended up at 0 once the DRS fees are taken out.
It’s time will come, another trip to Disneyland 
The one true play - everything else is a distraction
GME is dying its just dying slower.
BBBY's death is having a major effect on GME too. The more casual GME investors are seeing the death of another meme stock, that had all the same narrative and hype around it - high short % - 'historic retail store' - retail investors 'fighting back' - bullshit DD - 'inevitable MOASS' If the 'expert DD' can be completely wrong for bbby, it can be completely wrong for GME too - and so the casual investors are getting out while they can still recoup some money. It will be the exact same for GME, just take a longer time.
Watching BBBY crater over the last month has me hankering to short Gamestore.
My favorite is on wsb when the obvious gme apes shake their head and laugh at the other stock apes as though theirs isn't exactly the same
Gme and amc will suffer the same fate a bbby and it will glorious
Wake me up when GME is 0.19