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.