Shouldn't Gamestop be issuing new shares like crazy to build up a war chest so they can actually do something to try to survive? Someone on TV said they could raise enough to buy Valve.
This wasn't about people vs hedgefunds. This is not how this started. Stop watching MSNBC, CNBC, Cramer, etc... just look at the facts and follow what actually happened. GME was a good play and the company DOES have upside. Not $500 upside (lulz) - but that doesn't matter. Stocks will cost what they cost. PLUG is up 1000% this year. It costs $70. 20 years ago it cost $1000+. Don't fool yourself into thinking everything has to fall into a box. You have no right to speak to or limit a company's potential.
it's not worth its current price, but i'll withhold judgement on whether they can survive. they've got a partnership with microsoft, there's a reason why discs are still popular (resale) and brick and mortar still has value, even amazon bought wholefoods and came out with physical bookstores.
I'm over here maxing my 401k, IRA, bitcoin, rental properties, but I cant "buy" Nokia? What a ****ing world.
i think it's madness that they can trade stocks and even be majority owners of private businesses, but i guess the ppl literally writing the laws make exceptions for themselves haha
The MOMENT Michael Burry confirmed Next-Gen consoles would have discs he went long on GME. And like it's been said, what GME looks like today will not necessarily reflect where it goes in the future. It's like people aren't realizing how cheap the calls were... lose $10 or make $100 kind of odds. ****, I WISH betting was that easy.
no, the WSB crowd shows that one needs to be informed. being informed enables them to know that even the so-called elite hedgies can make reckless / stupid gambles once u identify such a stupid gamble by the big boys, you pounce on it
Well you and I can disagree. I see no upside to GME in the long run. It's business model is toast and it has no path to compete with Steam that I can see. Its main business is a money loser so it simply doesn't have the capital to create an online storefront that has any hope of competing with Steam or Epic. And I'm not a short term investor. I tend to buy things that I feel will give me a decent rate of return over 6 months, 1 year, multi year etc.. And I see little reason to be confident in Gamestop. Discs might be popular for those who want to resell but they are terribly unpopular with publishers who lose money on discs compared to online sales (and you can't resell online copies which also helps publishers). The publishers are doing everything they can to shift sales online so Gamestop has to find a way to transition to that. Covid certainly has accelerated this trend. The Microsoft partnership was a one way deal. Microsoft just sold a bunch of its services and products to Gamestop. Gamestop didn't gain any real exclusivity or any unique value (other than replacing its awful back end systems and ecommerce platforms). Also no one suggested that retail is dead. I'm suggesting that in the case of video games, retail is going to circle the drain over time as physical media is phased out by publishers. Until anyone can demonstrate how Gamestop will manage to successfully build an online storefront that can compete with Steam, I see no path forward for them.
Good debate here. Not trying to be hostile. Just saying - we don't know what GME will look like in the future. You're looking for them to compete with Steam (putting them in a box somewhat) but they might do something completely different. Kodak manufacturers pharmaceuticals. Stay tuned.
Emerging story so maybe I'm wrong - you cant buy BITCOIN now? They halted BTC? It did a meager 10% overnight (while the rest of the market looked scary so it's ah honest hedge) - what the hell?
he can live off his movie rights The big short 2: infinity squeeze starring christian bale as michael burry, joseph gordon levitt as DFV haha
Man, I did NOT realize, they can literally use Christian Bale AGAIN in the new movie. I like Michael Cera for DFV. And I wonder if Bale will be in for part 3, the movie about his Tesla short. @tinman
AMC already did it. They converted all the debt to shares, and have raised an additional $600 million to survive. So now they are debt free with an extra $600 million in the bank.
