after all that effort from the WSB community to save the company.
He’s just pissed his company is on life support, and that WSB just dragged out the inevitable.
Trading in my points and cancelling my membership this weekend. 95K points should get me a few fun things before I never ship there again.
Dump the stonks!
is it me or conservative always freak out when thier R politician wins an election, did not think the things they are railing against was happening,.
He just needs to stop, Trumps bro-circle jerk is already full.
I hear they’re moving to a bigger venue.
Whelp time to cancel my GameStop runs.
I don’t support chuds
Can’t cancel what I never did. GameStop routinely has terrible prices, poor selection (in my area), and mediocre service. I buy most of my used games from eBay, and most of my new games from Target (when on sale). Screw GameStop…
The WSB campaign to save it made no sense to me. So many better companies have gone under.
DEI is some zealous American Puritanism which has no relevance in France, so I’m confused how he made the connection?
I doubt it’s related:
The reality is that the physical side of GameStop’s business has been in steady decline for a while. In 2019, GameStop closed around 200 stores in an attempt to “reboot” the company. GameStop’s fortunes briefly rose due to its 2021 stock surge, but shares quickly plummeted following that initial spike.
They’re probably just not making a profit anymore in those regions, so they’re closing up shop, and the CEO took the opportunity to go on a largely unrelated rant.
I don’t really know much about French politics, but surely there is something similar that right wing reactionaries can get upset about there.
For example a Dutch friend of mine who has been radicalized by Joe Rogan, Twitter, and Facebook tells me that you can’t say anything bad about Islam in Holland, as he sends me link after link with fascist anti-Muslim propaganda. (Like… you can’t say things that the “news” that you just sent me is literally saying?)
guess it’s time to finally sell my GameStop stonk.
Carbon hands, everyone.
I bought a share at $350. Still holding. Tbh it’s just not worth the effort of resetting my Robinhood password to sell it.
Even if it’s not worth it to you personally, it’s still a good deed to sell stock in a company when their CEO does something like this. Every sell sends a small message.
A sell doesn’t happen without a buyer on the other end. It’s a wash when it comes to messaging.
it’s not a wash, because you sell for a different price than you bought at.
I’m not saying it’s a wash in terms of price. Instead, I’m saying it doesn’t send a message through some tally of sells for the day, because buys and sells are at a 1:1 ratio.
Oh yeah, definitely. I didn’t mean about a tally of sells.
I assumed it’d be good for them in some way if I sold (I don’t understand stocks). If it sucks for them even a little I’m selling.
You’re just selling to some roaringkitty fanboy the actual company couldn’t care less. If you’re in a 350 you may as well hold it on the off chance something weird happens and you could break even.
Or, you can sell at a loss for the tax benefit, but that only applies if you have capital gains to use it against. So if you find one year you make some money off some other stock that would be a good time to sell the GME at a loss.
I agree that selling a $100 stock doesn’t hurt the company $100 – but it does hurt them some amount between $0 and $100 which I don’t feel qualified to calculate. The ultimate reason that stocks go down is because people sell.
i made $5 from years of holding 😂 quickest sell of my life
I lost $300 bucks but here’s what I gained: I stuck it to the man in 2021, and I am sticking it to Ryan Cohen today.
… and I’m out of this thing now too. Glad I caught this post.
Are redditors still diamond hands on gme?
Frankly I think every stock-oriented subreddit is a controlled operation meant to pull value from the subscribers only. I doubt almost any thread on those subs are people authentically sharing their perspectives.
At the rate these chains are telling me to fuck off with my business and ignore them I’m gonna end up with nothing but farmer markets and crafts shows to shop at…
I have some bad news about farmers for you…
Farmer’s market farmers generally aren’t from giant corporate farms.
They can have a white supremacy issue though.
The elites don’t want you to know this, but you can grow your own plants
But good news about crafters.
Time to double-down on making ironic kitsch that say violent things but in a cute, folksy way. Like a pretty sign with script letters and flowers adorning the edges, saying Deny, Defend, Depose instead of Live, Laugh, Love.
Do not ask those farmers follow-up questions.
What’s so bad about that?
They don’t sell a lot of video games at farmers markets and craft shows… You have to go to a flea market for that, and those are rather dodgy.
What ya dont want to gawk at the gangster spongebob shirts that seem to be at every stall?
It’s moreso that the vendors seem to fall into two not entirely seperate categories.
- The sheistiest sheister that you would be terrified to get in a van with.
- Someone who definitely has a borderline illicit script of oxy on them and think bathing is an option, and a philosophical dilemma.
Holy fuck, it’s obvious you don’t feel comfortable around people you perceive as “less than you” lol. “illicit script of oxy on them and think bathing is an option” Do we have a Lemmy Uppity Award for fake narratives?
If you actually walked around a flea market, as a human being, you would see it’s mostly families and senior citizens. You’ve selected a few “characters” for your narrative and have grossly stepped into some pompous position of enlightenment. Anyone that loves cheap electronics to tinker with absolutely gets thrilled to go to a flea market with some disposable income.
It takes a special kind of drug induced “sketchy” person to wake up at 6am on a saturday to try and make some income, damn shame there’s people like you out there that wouldn’t give the location a chance but will walk into any corporate store without a thought to “all the shady, drug ladened CEO’s you don’t want to get into a van with”. But you can’t see them so I suppose that might make it better for you.
Haha I see I hit a nerve.
This is from being dragged to one every weekend as a child… I speak from experience
My family was in the latter of the two. Obviously I generalized a bit for comedic purposes, but there really are two type of people at flea market.
The ones whose household income is derived from it. I don’t trust these people as far as I can throw them. They lie about their goods, it’s almost always straight from China and marked up like 10x.
Then there are the normal people trying to make some side income. These people are usually older and skew more towards veterans. That demographic just gets prescribed a lot of oxy, and they often borrow or trade.
It just is what it is… And I will not apologize about the shower comment. Nicest people, but most of them could use hygiene lessons.
lol why did you reply with the exact same comment but doubling down on how much of a douche perspective you have? I wouldn’t say you hit a nerve, some decent people just tend to call out bigotry when they see it.
“They lie about their goods, it’s almost always straight from China and marked up like 10x.” …so like all the other stores? You’re entire shtick is illogical and I don’t tend to trust bigots so I doubt you have the experience.
“There really are (only)two type of people”. “They lie”. “These people”. “That demographic”. “They often”
This is how you detect bigotry everyone. It’s like if I said “Corkyskog probably thinks he’s better than others because his brain is broken or got smacked around to often”. I’m just assuming his brain is broken with no real facts because of his shit comments
“Corkyskog sucks two types of dicks, shit covered and piss covered” like your demographic might lean that way but to just label you as a “dirty” removed is kinda unfair and also unrealistic, you could just like sucking regular cock.
“Corkyskog is a pompous prick who is probably projecting, often scared and isn’t comfortable around people he deems “lesser”, is a piece of shit human being the world would be better off without” but I’m just guessing, like the “they often borrow or trade”.
Honestly, is that a bad thing though?
Nothing really aside from the annoyance of living where everything is 20 miles apart makes shopping at multiple small shops quite time consuming.
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It has absolutely nothing to do with their entire core business model being obsolete.
Nor with the issue that they’ve been hemmoraging money at a staggering rate.
The company as a whole is profitable with not a dollar of debt, where is this staggering hemmorage?
Recall that the first quarter after the whole WSB thing, they had something like 2 billion in cash from that whole thing.
A year later, they had 1 billion.
Half a year later, 500 million.
All of a sudden this quarter, after shutting down stores all over the place and gutting their staff, they’re claiming 4 billion cash on hand, helped out by unproven social media claims growing their stock price 30%.
doubt. Their business model relies on physical games being sold multiple times, once when new, and then multiple times as used copies. This is why they’re focusing on retro consoles. New consoles have passable online marketplaces, so Gamestop cannot compete, and are completely inferior to PC gaming, which hasn’t needed Gamestop in 20 years.
What do you mean unproven social media claims? the $4 billion in cash is in their quarterly earnings: https://gamestop.gcs-web.com/static-files/2c1eac18-9f79-41b9-9e56-a8db8fe7aac4
Pretty easy to verify yourself.
That would be a valid assessment if the stock price had jumped after the quarterly earnings.
Their stock price jumped before the quarterly earnings was announced. It has nothing to do with it, nor any of their fundamentals
Also notice:
Cash flow is neutral or negative and has been for a while now. Revenue peaked in 2018 is now less than 62% of that peak. Revenue per quarter is also down 11% year over year.Company lost 34 million dollars last quarter, and has not had a positive operating income since feb 2018. https://www.msn.com/en-ca/money/watchlist?tab=Related&id=a1tyxm&duration=1Y&src=b_fingraph&relatedQuoteId=a1tyxm&relatedSource=MlAl&l3=L3_Financials
Even if they continue loosing $34-million each quarter, it will take over 33 years to go bankrupt with the current $4.6-billion cash on hand.
Seriously though, I see that earnings per share was positive for 2024. How is that possible if revenue has been negative since 2018?
Because the share price jumped up so much last year to give them that cash on hand.
Also the $34 million loss is their best result since feb 2018, most of their losses have been 10x higher. Although it does look like a long term trend into the positive cash flow. Also the CEO is mentioning a stock dividend now, so that takes care of the cash on hand.
they’re claiming 4 billion cash on hand
If that’s a lie then they will get absolutely wrecked by the authorities since they’re a publicly traded company.
Yeah, about the ”authorities”….
Over 4 billion cash is shown on the balance sheets on their latest filings too
Theyre also going against small gaming hobby stores which while not everywhere they can offer secondary services not reliant on reselling games multiple times. Such as offering LAN parties for old games, table top games, or even movie nights. These are just things I know the shop one of my kin in Arkansas goes to does.
My local stores sell steam games and PC parts, I don’t think you understand the business model… When was the last time you visited a store?
Not to mention now they’re doing pokemon tcg, that just prints money.
Oh yeah the trading card business too, plus all the homewares now. Currently eating dumplings out of a pokemon licenced bowl manufactured by gamestop
Good luck man. What happened last time they got a huge influx of cash from retail traders? From what I read they wasted it in NFTs.
Now they’re wasting it on trading cards. The company is floundering. Surviving purely from generational nostalgia at this point. When that runs out the rug will be pulled.
They never bought NFTs, they built a website for trading NFTs. Very minimal expense that’s already written off as it got banned by the US govt
Wait, their business model of giving you $3 for a game they’ll charge $50 for isn’t working? The business model that I have to go drive and interact with someone and hope the game is in stock? Who would have thought?
But the instance dedicated to a death-grip on this one stock said it was the future!
I was entirely checked out on gme until a few weeks ago, when I remembered it and decided to drop the bag. Turns out I pretty much broke even. Glad to see I was making the right move
what an odd thing to say for a company that employs millions of minorities. sold my stock and wont be supporting chewy either
Oh god what did Chewy do?
You might be off by a few million…
A true believer was lost
