GameStop selling 500+ stores because of "woke" - Hypertext
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GameStop CEO Ryan Cohen appears to blame inclusivity for the failure of his brick and mortar gaming outlets.
  • GameStop is hoping somebody will buy its Canadian and French operations.
  • This amounts to over 500 physical stores across both nations.
  • The company’s CEO decried “Liberalism, Socialism, Progressivism, Wokeness and DEI” within his firm while shopping for a buyer.
  • ShepherdPie@midwest.socialEnglish
    4·
    1 day ago

    I really just threw in my covid check but what really made me think it’s still worth is the original guy who saw value when the stock was worth less than $7 doubled his position and still to this day is holding on. He knows more than me and he saw this happening and probably sees something else too that I don’t understand so whatever I’m still holding a good amount of GME.

    But if you step back and see the forest for the trees, what place do they have in this economy when most new games are digital purchases and trend more and more toward that with each day? They aren’t selling retro game and only deal with current stuff and their prices are insanely high compared to the digital storefronts. The chotchkis alone (Funko pops and TShirts) aren’t enough to sustain all the overhead for a company this large. They’ve tried to branch out into PC gaming accessories but who’s going to go there versus online?

    • Doom@ttrpg.networkEnglish
      11·
      1 day ago

      But that’s not what we’re talking about. GameStop’s success has nothing to do with what I’m waiting for. The stock isn’t up because GameStop is a good company. In fact the opposite

      Watch the Big Short easiest way to really explain. The stock was worth $7 then $400 then stock split. If the split never happened the stock would be worth $100 and that isn’t because of the fundamental regular stock reasons it’s because the dying company didn’t die and now their valuation is fucked up.

      • ShepherdPie@midwest.socialEnglish
        1·
        23 hours ago

        But at the end of the day, tricks and manipulation can only get you so far. When quarterly filings show poor performance and stores start shutting down, I don’t see how they (and by extension their share price) could possibly recover or increase. The issues they face aren’t some temporary storm they have to weather, it’s a permanent change in consumer’s buying habits and the market as a whole. Even outside of retail sales, the entire gaming industry has been in shambles for several years now with no change in sight.

        • Doom@ttrpg.networkEnglish
          1·
          21 hours ago

          Again I 100% agree however…

          The dude who saw it at $7 and said it was gonna pop, doubled down after $400 and still believes it’ll pop again.

          He knew the first time, he’s smarter than me, he didn’t sell. I am still in the green by like more than double where I was at the start. I’m gonna continue with my gut and believe this dude knows something I don’t because so far he hasn’t made me think otherwise.

          Everything else literally anything else besides what I said in this post is noise to me you know?