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Cyrano4747 posted:lol if they did and still managed to gently caress this up. https://www.cnbc.com/2021/06/22/gamestop-jumps-9percent-after-the-original-meme-stock-cashes-in-again-with-1-billion-share-sale.html iirc AMC made even more from these clowns Deki posted:Honestly are they though? A high stock price is not a replacement for a functioning business. And the idea that they'll make money on a $100 million investment into NFTs, from the same people who already threw all their money into GME stocks... I dunno about that. At some point you're just describing yet another ponzi, only this one has the boat anchor of the gamestop retail stores tied to it.
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May 20, 2022 15:24
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Deki posted:Honestly are they though? I'm not talking about the NFT stuff specifically but the fact that they haven't really come up with a better business plan using this breathing room they've gotten. Immediately pre-pandemic they were getting a fair bit of buzz as the next likely dead brick and mortar chain which lead to a lot of articles about how their business model was fundamentally hosed for both typical chain store reasons and reasons specific to the gaming/collectables industry. I think there was also some activist investor or something writing a bunch of them because he was trying to push them towards shutting down the unprofitable bits and either selling, merging, or re-launching the good parts. The broad strokes as I remember: 1) the starbucks problem of way too many stores leading to crazy overhead compared to income, especially on rent. I remember one article highlighting this with some stock analyst in NYC walking to 3 gamestops in 30 minutes. NYC and all, but equally anecdotally there are at least three within a 20 minute drive of where I am right now. I say " at least" because for all I know there's one in a random strip mall I haven't spotted yet. 2) a kind of flailing store layout and generally lovely management on the retail front. They bought ThinkGeek a while ago and a ton of their floorspace is taken up by what I remember one article calling "hot topic for nerds." You can kind of see how this might work if that gets you foot traffic buying dumb gadgets and funko pops, but apparently it doesn't. 3) the growth of digital storefronts cutting them out of the loop on a good chunk of the primary sales and loving gutting them on the used game sales that were their bread and butter 4) however, they don't price the used games aggressively enough and are routinely undercut by sellers on ebay. Not the biggest problem in the world, but still an issue. 5) A lackluster online storefront and online prices that didn't compare well to other places you can get physical games online like Amazon. 1 and 2 are just kind of standard bad retail store problems and probably fixable. Close a bunch of stores (which I don't think they've done, might be wrong) and do a comprehensive redesign to focus on drawing customers in and getting them to put down money on high margin poo poo. There were a lot of think pieces back around then about maybe getting partnerships with console makers to have subsidized demo units, maybe expand into in-person events like tournaments a bit more (the Games Workshop model) etc. 5 is also probably fixable if they really wanted to focus on their online presence. Again, lots of random articles opining about using their established brand to set up a Stem competitor etc. Probably not as realistic, and in fairness the webpage has gotten significantly better in the last few years. 3 and 4 are where they're dying, though. For the last 20 years they basically became as suburban pawn shop for video games and got REALLY used to the insane margins. There were a few quarters around '18 and 19 where they were seeing both raw income and profit from used game sales dropping by 10+ percent, which was where alarm bells were going off and everyone was writing about their impending demise. Anecdotally it also just feels like "gamestop gives you gently caress all for your games" is more and more common wisdom at this point, so I wouldn't be surprised if the losses to ebay are becoming serious. That's the part that I don't really see them turning around. I think that the combination of covid plus supply chain bullshit gave them a little bit of breathing room, with people looking for poo poo to do at home driving more sales industry-wide and gamestop's specific invention of their annual membership (which you need to buy a high demand item like a new console or video card) helping a bit too. Then you have the meme stonks craze. But none of that fixes the fundamental, underlying problems and nothing I've seen indicates that they've made progress on that front. They had an amazing opportunity with some unforeseen breathing room to make those changes, and it doesn't look like they have. I popped into one a couple months ago to impulse buy a game when I got lucky and snagged a PS5 out of nowhere (from loving walmart of all places) and it struck me as just the same old gamestop as I remembered from 10 years ago, and from 10 years before that.
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May 20, 2022 15:26
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I remember seeing articles about these GameStop test locations that were lan cafes that also sold games. It seemed like a good idea that might keep them alive, in addition to drastically cutting down on their number of locations of course. Guess that didn’t go anywhere if they’re still drowning as “store who sells scratched up used games for 5 dollars off”
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May 20, 2022 15:33
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Bad clustering is still affecting them here. There's one in a major mall and then another, larger one top-side across the street. Their was a third one a ten minute walk from both of those but I think that closed a while back. Used game stores are almost all terrible in my experience. I don't blame them given the enormous amount of physical space required for something like the PS3 / 360 era library, but if I still come out ahead with eBay after factoring in time spent that's awful. Shumagorath fucked around with this message at 15:45 on May 20, 2022 |
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May 20, 2022 15:34
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Game? Stop.
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May 20, 2022 15:37
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Gutcruncher posted:“store who sells scratched up used games for 5 dollars off” This is also loving them hard on online sales, at least based on my anecdotal experience of myself and friends. I ended up with $15 in GamestopBux from getting their membership (when I was looking for the PS5 - it was like $10 for a year so it was cheap insurance if they got any in - not renewing that) and I was looking at the used games when I noticed this disclaimer that they might not come in their original packaging. Like. . . . ok. But you're still charging me more than the guy on eBay for this old game. It was specifically Ghost of Tsushima that I was looking at, and the GS used copies were like $30 and the average on eBay was something like $25. . . and I could see pics of the actual copy I was buying and get one with a box because if it's just as much, why not? It kind of blows my mind how much better ebay is for buying used games than Gamestop.
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May 20, 2022 15:39
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Cyrano4747 posted:1) the starbucks problem of way too many stores leading to crazy overhead compared to income, especially on rent. I remember one article highlighting this with some stock analyst in NYC walking to 3 gamestops in 30 minutes. NYC and all, but equally anecdotally there are at least three within a 20 minute drive of where I am right now. I say " at least" because for all I know there's one in a random strip mall I haven't spotted yet. I could also see this going the other way: the less convenient it is to get to a location, the less attractive getting $5 for your game is. Like, there are apparently 8 gamestops in my metro area, eight, and it (capital district NY) is not even that big! But they're all spaced out in a ring around the city. Just like a starbucks, when you are trying to make money off repeat customers you need to be close to them. Cyrano4747 posted:But none of that fixes the fundamental, underlying problems and nothing I've seen indicates that they've made progress on that front. They had an amazing opportunity with some unforeseen breathing room to make those changes, and it doesn't look like they have. I popped into one a couple months ago to impulse buy a game when I got lucky and snagged a PS5 out of nowhere (from loving walmart of all places) and it struck me as just the same old gamestop as I remembered from 10 years ago, and from 10 years before that. Yes, but also they've got a history of trying new things and flopping badly on anything that wasn't retail. They bought & tried to operate a digital games platform, it went poorly. Their tried to be a publisher, it went poorly. With a billion dollars they could take another stab at something like publishing games... but TBQH I doubt it would go well. It's not their business, they don't know anything about gamedev. (Also the most ironic thing about Gamestop & publishing is that their stores run on AAA big hits & sports games, not indie darlings. And in that zone a billion dollars doesn't actually go that far.)
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May 20, 2022 15:51
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Cyrano4747 posted:This is also loving them hard on online sales, at least based on my anecdotal experience of myself and friends. I ended up with $15 in GamestopBux from getting their membership (when I was looking for the PS5 - it was like $10 for a year so it was cheap insurance if they got any in - not renewing that) and I was looking at the used games when I noticed this disclaimer that they might not come in their original packaging. gamestop is based on the convenience store model, literally. it's like saying "lmao this yogurt is $3 at 7-11" well yeah. its a 7-11 the bigger question i have is why more people didn't figure out quicker to just sell their poo poo online there cannot be that many crackheads
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May 20, 2022 16:01
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Klyith posted:
Fundamentally they've got the same problem that every other physical store does: why should I go to you to buy my commodity item (be it a hammer or a lamp or a game) for $X when I can order the exact same thing, from the exact same manufacturer, from an online store for $X-10%? Some places figure something out. Being able to grab the thing you need now rather than wait even a day is convenience people will pay for. Some stores also loop in services that are either impossible or annoying to get done remotely. Best Buy and Geek Squad as an example, plus all the places that will install your crap for you. It's not something I need to do, but I did choose Best Buy when I bought my grandmother who lives in another state a TV specifically because I could have them set that poo poo up for her and know it would work and if it didn't I could have them come back. Some places don't. Shopping malls are full of stores that went under because they didn't crack that nut. The point is that their current business model isn't long term viable and they've got a window of opportunity to try a couple more things. Will it work? Dunno. But not trying is guaranteeing failure.
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May 20, 2022 16:03
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precision posted:gamestop is based on the convenience store model, literally. it's like saying "lmao this yogurt is $3 at 7-11" Based on some of the brand-new in-wrapper games I've seen photographed on some grungy as gently caress looking backdrops on ebay, I think even the crackheads have figured that one out.
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May 20, 2022 16:04
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but where else can i buy a 40 dolar Naruoto shirt from a rude college kid with a Triforce tattoo in a very unfortunate and visible place
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May 20, 2022 16:05
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lol at this cult: https://www.reddit.com/r/Superstonk/comments/utlw3v/were_going_to_the_moon_and_gamestop_twitter_is/ quote:manbeefFuck no I'm not selling my $GME 51 points 9 hours ago quote:Ultimate_Mango🏦 Be the Bank 🏦 🦍 🚀 💎 🙌 68 points 9 hours ago quote:]btbsrq👹IT PUTS THE MAYO ON THE SKIN OR IT GETS THE BEDPOST AGAIN👹 16 points 3 hours ago quote:skets90Captain JACKED Sparrow 26 points 9 hours ago
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May 20, 2022 16:11
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what is tit jacking
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May 20, 2022 17:07
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Strumpie posted:what is tit jacking Considering ~bros~ probably a misogynistic comment meant to demean whatever, like soy boy.
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May 20, 2022 17:10
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Strumpie posted:what is tit jacking I looked it up and it seems to be from the phrase "jacked to the tits" which I *think* means "super hyped up"
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May 20, 2022 17:12
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They are very excited that some guy at gamestop twitter replied to a tweet and are assuming this means that they clearly have a failsafe business plan to take their stock price to the moon and are on the verge of a stock split for.... reasons. 
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May 20, 2022 17:14
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Cyrano4747 posted:Fundamentally they've got the same problem that every other physical store does: No, they have a far worse problem. If Amazon had star trek teleporters that could beam a hammer or lamp directly to my house within an hour or so of buying it, that would be the correct analogy. And also if there was no reason to comparison shop -- all products on amazon and the physical stores are identical, so the only reason to browse a selection of items is if you're just impulse buying at random. And yeah Amazon's teleporters destabilize the atomic structure of your lamp or hammer, so they disintegrate when you move them away from your house or sometimes just at random. That's kinda killing off goodwill & used furniture stores. But nothing costs more than $70 on Amazon so most people just shrug. Also there is a HyperAmazon that beams lamps and hammers to your house for free and then tries to sell you new lampshades or stickers for the hammer. Some of HyperAmazon's upsell is obnoxious and some of their lamps are poo poo, but if you look around you can outfit your house with some pretty good furniture without spending a dime. It'll be a bit plain in comparison to other people's stuff, but if you find a free couch you like and keep it for a few months, you'll get a few decorative pillows beamed over for free. So all the broke kids are outfitting their apartments for free from HyperAmazon, and it's doing so well that regular Amazon has introduced a subscription service where you get all of their stuff for a low monthly cost! HyperAmazon and regular Amazon are competing over who can beam the most free stuff into people's homes, while Sears is still trying to sell a hammer for $70 (or $65 used). That is Gamestop. quote:The point is that their current business model isn't long term viable and they've got a window of opportunity to try a couple more things. Will it work? Dunno. But not trying is guaranteeing failure. So IMO the NFT poo poo is just as good a thing to try as anything else, because it's all just shots in the dark. If we get the bad future where everything is NFTs and all experiences are marketized, they'll be a winner! Throwing money on 00 is as good a plan as any. Their current model isn't short-term viable and their actual window was closed a decade ago. Alternately gamestop could say "we're going to spend this billion dollars researching time machines so we can go back to 2001 and tell ourselves that digital is the future" and I'd be like 
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May 20, 2022 17:14
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Ultimate career goals: Become important enough to have posting access on a meme stock’s Twitter account. That’s probably the CEO, right?
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May 20, 2022 17:16
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I think I've asked this before, but does Gamestop stock have dividens? stock memer are in the same broke brain cult trap of hold PhazonLink fucked around with this message at 17:21 on May 20, 2022 |
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May 20, 2022 17:17
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They last paid dividends in 2019, but that’s no problem because soon the evil Hedge Fund empire will crumble under the weight of our diamond hands and the stonk will go to 3 billion.
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May 20, 2022 17:20
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GME has no dividends and is bleeding money. Their operating income is negative and before you even get into debt servicing the question of what cash flow they have necessarily is raised.
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May 20, 2022 17:22
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GameStop had the writing on the wall ten years ago and hasn't fixed anything
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May 20, 2022 17:29
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Heath posted:
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May 20, 2022 17:33
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Mercury_Storm posted:They are very excited that some guy at gamestop twitter replied to a tweet and are assuming this means that they clearly have a failsafe business plan to take their stock price to the moon and are on the verge of a stock split for.... reasons. See: Elon Musk
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May 20, 2022 18:15
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Klyith posted:No, they have a far worse problem. If Amazon had star trek teleporters that could beam a hammer or lamp directly to my house within an hour or so of buying it, that would be the correct analogy. Eh, yes and no. I mean, you're not wrong about digital sales absolutely being a game changer that was not good for them, but the market for disks still exists on the console side of things. They probably could have seen the writing on the wall and tried a pivot that leaned into their one remaining strength. It's still a place people go to buy disks and it's still a place people go to buy and sell used disks. The problem is that they're even loving that up. There's zero reason for me to buy a disk copy of a PS5 game at Gamestop vs. Amazon, and holy hell there's every reason for me to do my used buying and selling on eBay instead of them. Same goes for buying the consoles to be honest. When I was looking for my PS5 I gave utterly zero fucks about where I got it as long as it wasn't some scalper rear end in a top hat. I was willing to throw a few bucks around on subscription services that gave me first crack at new stock, within reason (hence my Gamestop membership). Gamestop actually had them in stock a couple of times before I finally bought one from Walmart. Why didn't I buy from them? Because they loving insisted on bundling the console with a bunch of trash I didn't need or want, while Walmart just sold me the loving console. I remember one that was almost $800 that was the console ($500) plus $50 in gamestop gift cards, plus two games that I didn't want (I remember one was FIFA), plus some dumb controller accessories like rubber slip-over covers for the grips. Some other random junk in there too. Point being it all added up to $800 if you accepted the MSRP of that stuff, but the extra poo poo was just garbage that I'd never buy in a million years. The accessories for the controllers in particular were just garbage and overpriced at that. I'd have ended up buying my playstation from them probably twice over if they had just sold me the loving thing, but instead Walmart got my money despite me having to shell out for Walmart+ to get it.
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May 20, 2022 18:16
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Scratch Monkey posted:I looked it up and it seems to be from the phrase "jacked to the tits" which I *think* means "super hyped up" Ryan Gosling’s character uses the phrase in the movie The Big Short. The idiots on superstonk like to imagine their GameStop shares are a visionary investment, just like the folk in the movie who made a fortune by shorting mortgage backed securities.
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May 20, 2022 18:22
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remember this guy? Here's an update: 
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May 20, 2022 18:41
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ekuNNN posted:remember this guy? there's no way this is real I mean that's still a long time to wait for a gimmick to payoff but
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May 20, 2022 18:43
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the tweet is real, but it's gotta be a shitpost this is real, though:  
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May 20, 2022 18:53
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ekuNNN posted:remember this guy? Who knew Churchill was a crypto bro.
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May 20, 2022 18:55
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Dr. Video Games 0031 posted:the tweet is real, but it's gotta be a shitpost Grift me once, shame on you. Grift me twice, ok, sure, this time will be different!
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May 20, 2022 19:06
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Elerion posted:Who knew Churchill was a crypto bro. “If you were my husband I’d put poison in your slurp juice!” “And if you were my wife I’d drink it!”
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May 20, 2022 19:16
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Elerion posted:Who knew Churchill was a crypto bro. not surprising, what with his opinions on jewish people and non-whites and such
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May 20, 2022 19:18
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ok i lost all my money on the Dr. Strange slot machine, but the Big Bang Theory slot machine looks promising!
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May 20, 2022 19:20
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Guze posted:ok i lost all my money on the Dr. Strange slot machine, but the Big Bang Theory slot machine looks promising! Slot machines are regulated.
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May 20, 2022 19:37
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gamestop should have given everyone a free retro console during the pandemic.
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May 20, 2022 20:24
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Klyith posted:iirc AMC made even more from these clowns AMC recognized exactly who their shareholders were and used their capital to buy a gold mine. This is not a joke. This is really what happened.
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May 20, 2022 20:44
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doingitwrong posted:AMC recognized exactly who their shareholders were and used their capital to buy a gold mine. Wait an actual gold mine?? Edit: poo poo https://www.bloomberg.com/opinion/articles/2022-03-15/amc-bought-a-gold-mine
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May 20, 2022 21:20
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There Bias Two posted:Wait an actual gold mine?? It feels like that's a move right out of the crypto bro handbook when they're transferring their cash windfall into gold. At least they have an actual mine while the bros have their receipts for links to lovely procedurally generated pictures.
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May 20, 2022 21:24
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Random Stranger posted:At least they have an actual mine is it really a mine if no mining is actually happening in it, or is it just a cave with some shiny rocks? quote:We are not currently conducting commercial mining operations at the Hycroft Mine. There is no certainty that the mineral resources estimated at the Hycroft Mine will be mined or, if mined, processed profitably. We have no specific plans and cannot currently predict when we will be able to bring the Hycroft Mine back into production. The commercial viability of the Hycroft Mine is dependent on a number of factors, including metal prices, the availability of and ability to raise capital for development, government policy and regulation and environmental protection, which are beyond our control. We may not generate commercial-scale revenues until we bring the Hycroft Mine back into production.
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May 20, 2022 21:32
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