RIP STONKS
You hate to see it
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Gamestop CEO Matt Furlong “We believe revenue growth will translate to scale and market leadership. And from there, scale and market leadership will translate to greater free cash flows over time. Our focus on the long term means we will continuously prioritize growth and market leadership over short-term margins.”
in other words we’re losing a shit ton of money and we got no ideas other than say a bunch of business bullshit jargon so we can sell our shares before everyone realizes this company is worthless
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Didn’t they already have scale which didn’t translate to any market advantages because they were still hemorrhaging money which led to them closing down a bunch of stores to diminish their scale?
There is literally a less expensive PS5 that has no disk tray, they are a retailer which sells physical copies of video games.
Xbox and Nintendo will do the same in a generation or two.
The only responsible message that he could give on the earnings call was, "During the last quarter, our stores remained open for business. I think. I’m actually not sure - I haven’t been keeping track. We sold lots of games, but mostly generated losses. Again, I think that’s true. But I haven’t really worried about it.
Our primary focus has been on selling shares of stock to the public. Continuing the trend of the past several quarters, we issued enormous blocks of shares in secondary offerings. We have continued these issuances after the end of the quarter, and will continue to do so for as long as market prices remain substantially above any reasonable estimate of fair value for a failing retail company."
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Yeah AMC has been bleeding down back to normal for a while. Feels like it should accelerate as the HODLers give up. Probably same with GME.
Interestingly perhaps - the AMC theater I saw Dune in was the nicest theater I’ve ever been in. You could get me back to the movies and happily pay $20 for that experience vs. $9 for wedged in with a kid kicking the back of my chair and gum stuck to my shoes. Not sure if the math works out for them though.
But if they could somehow use the capital infusion from their silly runup to build a bunch of luxe theaters which were actually profitable - then the whole idea of stonks would be working as intended. Amazing.
There’s a cheaper Xbox with no disc drive, too.
Also, not sure what thread this should go in, but I’m having a bit of a worlds collide moment:
I am a huge evangelist for Peloton, the product, so I’m moderately interested in their financial performance and stock price. In a very unSTONK move, Peloton stock dropped about 10% one day last week because SPOILER ALERT:
The sequel to Sex and the City premiered the night before on HBO, and a main character died after suffering a Peloton-induced heart attack.
Really great product placement, Peloton. GJGE
My wife really likes the show and was looking forward to watching the sequel, but read about the SPOILER browsing her Peloton-affiliated Facebook groups. And now she’s furious. So far she hasn’t insisted that we return our bike and treadmill. Fingers crossed.
I read about that. I wonder who made money on it.
This is what is meant by “efficient markets”.
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Nancy Pelosi probably bought $10 million in Peloton puts the day before airing or something. Just another Big Coincidence!
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wonder how much of this is due to stimulus/unemployment ending. the rest of the market seems to be doing fine
I found this twitter thread today which summarizes really well what is happening to money debasement; this is not an issue isolated to the US obv, it is worldwide.
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It’s interesting, but I vaguely remember borodog yammering about this kind of thing.
Also super put off by:
I own #Bitcoin
because it’s the one thing they can’t manipulate or control.
Yeah if you aren’t in crypto I can see how that would be offputting. I guess the point remains though. This money supply thing can’t go on forever without some sort of consequences right? It feels like this is a massive bubble that there really isn’t any good way to prepare for.
I’m far from anything close to an expert on this, but the type of currency manipulation this person is complaining about is roughly a century old at least, so quite a while more.
I’m deeply skeptical of this guy because it’s 100% what Ron Paul was saying, only with bitcoin at the end instead of gold.
I’m just glad that my grandpa, who was duped by the gold shit, at least got into bitcoin at the right time.
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Lfc cryptobros really are the new goldbugs.
You can’t debase fiat currency ducy?
I mean, if you want some lolz, repeat his analysis using the price and supply of bitcoin at any given point of time instead of the price and supply of USD at any given point of time.
There will be SWONGS
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I dont know what happens to bitcoin and crypto long-term. Im skeptical, but maybe bitcoin or ETH or some 2.0 version is the way to build generational wealth in. Fully willing to admit I dont know even if I have some biases against it.
However, what I am very confident in is that if central banks eventually lose control, the first thing that happens when the SHTF and equity markets tank is that the first order effect on NFT/crypto is that they are going to get absolutely crushed initially. So Im not really involved much today because, if this is the right thesis, Im going to be able to buy much lower.
I don’t understand the obsession over money supply. I read a few economic books after Black Friday when I was considering going to school and I vaguely remember them saying that money supply has to increase as the economy grows. As long as the stock market is beating the inflation rate, why do we care? Also, how many prominent economists and experts subscribe to these concerns? I’m really skeptical when it comes to “the experts are all wrong, just trust the 20-40 year old white male libertarians instead” stuff.
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