What the hell is going on with GameStop (NYSE:GME)?
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I actually have worked at gamestop for 10 years. To know the truth basically here it is. For years people have always had a misconception on the sheer size and scope of what this company really is. To give an example I live in an average city in Texas and there is 40+ gamestop stores here alone. For many years people have had a negative perception on the company, how we operate and the direction of profit overall. Seeing news articles claiming "hundreds of stores closing" or something along those lines. A while back we had a new CEO step in. Basically he gave everyone fat raises, closed down the stores that were not performing (trimming the fat) and bought a HUGE chunk of the company when we were on the decline from the last ceo leaving and that made us bounce back on an astronomical level.
FYI (I know people are gonna hate this one) in my ten years with the company I can honestly say that the way that the trade in value is assessed is extremely fair. In almost every case we would beat what every retailer would offer in value for games/consoles etc
You should watch the Louis Rossman video. It sounds like these millionaire hedge funders were intentionally screwing over GameStop, down to the average employee, and now their greed is catching up with them. Good stuff, and great to hear your side.
I don’t understand the broad general appeal of the store. Basically, the business model is a pawn shop based on a specific market, paired with retail sales. I’ve seen the posts about kids using it as a bank with returns and pre-orders in the past, but I don’t see anything but declining sales as everything goes digital and physical copies of games become more and more obsolete. I know there’s a demand but I see it declining and I can’t see accessories keeping them afloat.
I understand all of the hype of a market and whatnot, I just think that someone is going to be left holding onto a stock that should be worth $80 or less, eventually.
Can anyone explain why it’s actually a good business model? I’d rather order/buy games from the local game shop with the occasional Best Buy special.
Retail trading frenzy sparks jitters for noted GameStop short-seller
thread
Kramer sees small investors ganging up online against Wall Streat hedge funds as a new paradigm
Is this related to WSB shutting down on reddit?
Are the plebs getting too cocky?
r/yolo crqzinesa
Interesting thread
https://conspiracies.win/p/11SJoaxoZB/rwallstreetbets-post-removed/
Are they gearing up to add regulations to retail investors (or call the pot once enough dumb money is in the pot)
Louis Rossmann: Why mainstream media's slander of wallstreetbets pisses me off regarding GME.