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.
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.
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.
Fair enough they didn’t outright buy NFTs. They attempted to enter the market and failed. It’s still a loss. And I’m not feeling great about the trading card idea. But hey we’ll see, maybe it works out for them this time.
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.
If that’s a lie then they will get absolutely wrecked by the authorities since they’re a publicly traded company.
Over 4 billion cash is shown on the balance sheets on their latest filings too
Yeah, about the ”authorities”….
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
Fair enough they didn’t outright buy NFTs. They attempted to enter the market and failed. It’s still a loss. And I’m not feeling great about the trading card idea. But hey we’ll see, maybe it works out for them this time.