The only way I can nut anymore is thru human misery and despair
Can’t wait to read the WSB GME thread today
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FWIW I do think there is a chance GME has long-term value if you value them as a brick-and-mortar supplier of the next console cycle followed by a transition to primarily digital sales (which people are assuming is the plan with the Chewy guy on board). I think this run-up in the stock price has made the chances that they stick around slightly higher, but the digital arena is obviously super competitive so I don’t think those chances are very high.
Maybe if they can generate some capital with an offering at these valuations they can throw it into some sort of development, idk.
Digital sales on consoles already have the market cornered by the console manufacturers. It’s hard to imagine Gamestop beating out the built in PS store for example.
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I agree, they’d still have to sell hardware or something. Like becoming the go-to place for build-your-own-gaming-PC, idk. To channel @BadPokerAnalogy, they needed runner-runner perfect on the flop and this recent run-up was the turn they needed. Still gotta hit a one-outer on the river.
Lol GME, could be the end today.
I haven’t been in a Gamestop for over a decade but isn’t their main business model ripping off desperate people for their consoles/games and then attempting to sell them for 1000% markups?
With most people not buying games on disks anymore they are doomed.
GME just shot up at open. Sick.
On massive volume, I’m seeing 750k in first minute and 200k in each of next two minutes. Then it shot right back down. I wonder if that was shorts covering at open?
Bought 200 shares amc at 9.85 and sold 2 covered feb 12 15c for 2.07. Mining what is left of the IV on these meme stonks is my new plan.
Already getting destroyed although I would not be at all surprised to see a bit of a dead cat bounce at some point over the next few trading days.
Oh i didn’t know it went down now lol. I cherrypick what i see.
I don’t think that’s entirely fair. How much resale value do old games have?
The problem again is that they don’t need a brick and mortar venue for this. Amazon has gotten into the game of letting people mail in used games for store credit.
Can’t tell if GME just halted or if TOS is just lagging again.
Edit: I think it’s halted
Edit 2: gawd it just gapped down again, it’s free falling
85% of video game sales are digital now. Gamestop has no path to becoming a real player in these areas.
Sure, I agree with that.
We’re going to see double-digits today, insane
I sincerely hope that most of these are karma-whoring and/or cosplaying because this is going to be a bloodbath.
That being said I know someone who bought a few hundred shares around $85 and added a few hundred more at $220 yesterday. I hope he gets out on a bounce or something.
I know several in real life who put a large chunk of their net worth into these stocks over the last week. I know a guy who put all of his extra student loan money in them. The bloodbath angle is real from what I can tell. I bet i never get another GME text again from any of them.
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Something about social media and memes completely disables any human critical thinking. WSB is like Facebook in that regard.