Tried to trade in towards Madden 22. The bonus 20%/30% did not apply. Only my 10% from PUR Pro.
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Posted by ck0 on 26 January 2021 - 10:56 PM
So here's what's happening for GME:
folks on the r/wsb are buying and HOLDING
that's the key -- they've gone "mad" and refuse to sell
this skews the balance, so it's BULLISH full-time (mostly full-time)
So how is the price going up? Because the hedge funds, and others that are shorting the stock, are pumping the money back into it by covering (they are buying back at an even higher price). These firms are shorting GME because the price is soo disconnected from the fundamentals, they are hoping reality comes back and the real valuation settles (price target is somewhere around ~$20-$33). But you can't play that game with madlads that refuse to sell at a loss
The higher the price goes, the less it can be sustained, because only so much money can be pumped as the price goes higher.
The firms have tried short ladder attacks, to scatter and spook them into selling, but they've wised up to it and it doesn't work. It's going to be interesting to see what happens when the price gets so high, and most all of them have put all they've got into it, and there's nothing left to create more squeezes. Elon Musk just tweeted about it during AH, which now just got more eyeballs on it.
This will probably continue until Friday, where supposedly this entire thing comes to a head. Buy one share and hold it until then.
The key point they focus on is to not sell. Stocks, just like bitcoin, have a limited supply. So when supply gets completely filled, and less than demand, it goes up.
Posted by ck0 on 14 January 2021 - 01:33 PM
I am. Bought a ton of stock back when it was at $5-6. The company was always doing well financially even when people were predicting its demise. I've learned never to trust public opinion when investing in stocks and it's paying off dividends. It's actually incredible how much money you can make from the stock market.
Contrary to what most people believe, actual sales numbers do not affect stock prices by that much. GME reminds me exactly of another stock that I flipped for 20 times its initial value.
I remember that's when I dumped the stock -- when they stopped paying the dividend.
And if you think it's incredible how much you can make in the stock market, you'll also be super surprised at how much and how fast you can lose money as well. Just as those that were shorting GME found out; you can lose over 100% of your initial position and end up owing and blow up your account.
Sales numbers do affect the stock price shortly after the Earnings call. The rest of the time it just follows the index.
Posted by ck0 on 04 August 2019 - 06:57 PM
By the way, if anyone even keeps track and listens to the main points of Gamestop's latest quarterly earnings report, the recent job losses should not come as a surprise.
Straight from the source here: http://news.gamestop...al-2019-results
2019 OutlookAs previously announced on April 2, 2019, GameStop is currently implementing a cost-savings and operating profit improvement initiative designed to strengthen the organization for the future and support long-term improved financial performance and profitability. These initiatives, which include supply chain efficiencies, operational improvements, expense savings and pricing and promotion optimization, commenced during the first fiscal quarter of 2019. The company remains on track to achieve annualized operating profit improvements of approximately $100 million.
That report was June 4th, 2 months ago. They are trimming the fat.
So because they are laying off people, does that mean that Gamestop are dying?
It's part of their stated initiative to streamline future profits in the tune of $100 million.
Please people, don't give these people clicks. Whether it be websites, or videos, these guys live to stir shit up so THEY make money. Don't support them by giving them your time, because you're going to end up in a delusional fantasy.
Posted by ck0 on 02 August 2019 - 02:54 AM
That seemed kinda shocking but after looking at their financials, that's not true. They didn't lose $673m, they had a book loss of $673m after an impairment write down (basically a loss in value assets, not necessary physical loss) of $964m- likely a one time hit though it's likely they'll have another in 2019 (doubt it'll be as big). Their actual operations are still profitable, believe it not, though going down. Even if you factor out investment (money ownership put in), they pulled in cash in 2018 rather than burn through it.
In short, GS isn't gonna die over night... but might in a few years. At their low point, some investment bank or lender will come in scoop them up and it'll likely survive for another year or two. I mean, look how long Sears survived.
It's funny how the people that always mention this write off loss don't delve into the details. They picked up that number from some sensationalistic headline or article, and then begin spouting it out, to buttress another 'Gamestop is dying, here's why' rant.
Not a single one, claiming their impeding doom, has looked at their yearly financials. Maybe they don't know how to read them.
As for relating to this particular CE topic, you support physical, you get physical. All those repeating the same BS "digital is the future" -- the future is what you make it. Support physical -- if not at GS, then elsewhere, and it will remain alive. Those that reserve themselves to a particular fate as if it is beyond their power to change are quite the pathetic bunch.
Posted by ck0 on 17 July 2019 - 07:22 PM
Let me take a moment to spread some Gamestop love
If you wait for a good promo, Gamestop's console trade-in deals are the best.
1) avoid hassles, low-ball offers, listing-to-sell time, fees/shipping, etc with the secondary markets (FB Marketplace, eBay, etc)
2) GS store credit is tax-free for me, which means saves a bundle on tax towards the new system
All in all, they save me a lot of time, money, and energy, so I look forward to copping the next-gen consoles from them.
Last gen I went with BB, since buying consoles helped me reach Elite tier, but since they've done away with GCU my spending now all goes elsewhere and I don't bother reaching Elite anymore. So I'm thankful for Gamestop's continued existence.
They are in a peculiar place, because investor's are not optimistic about their future (and rightly so), but they are not dying in any sense at all if you look at their financials -- which should be the only metric to judge the health of a company (not stock price). If Gamestop was a video game character, they would have:
Like a Dan expert from Street Fighter, with really good defensive game, and turtle-shelling, but not much else.
Posted by ck0 on 07 June 2019 - 10:05 PM
Some times I wish we could just fast forward a few years to get to the end result. This is one of those times.
Once the public gets a hold of this thing, they are gonna see all the flaws in full glory. The initial novelty of playing a game on any Chrome browser is gonna wear fast when the price for this "convenience" is fully experienced by the market.
BTW, I also see a lot of cost comparisons between this and purchasing/owning a console. What the proponents for Stadia often fail to include in the cost analysis is the resell value of your old console, which is still substantial.
I understand a lot of people see certain entertainment mediums as 'disposable' (music, movies, etc), but games have a higher price of entry, which is why game reselling is still a thing.
With Stadia, xCloud, or general game streaming, you lose just about everything. The power to exercise trading, selling, lending, ... poof. But this is what the publishers want.
Sorry for the soapbox.
Posted by ck0 on 16 April 2019 - 08:22 PM
"Guaranteed to Love it" program. If you return the game within 48 hours of the game's launch you get your money back in the form of Trade-in Credit.
Posted by ck0 on 22 March 2019 - 06:22 PM
Blockbuster learned the lesson, they had a bunch of shitty collectibles too.
Posted by ck0 on 20 March 2019 - 11:31 PM
GameStop stock the lowest it’s been in 14 years, now is the the time to buy!
Not yet. I'd wait until the earnings here in a few weeks. The mood among investors is pretty down after the ended search for a buyer, we'll need to see Gamestop's response and how it shakes out.
If it stays the same afterwards or lower, I'd go for it. It's not going to stay down this low, especially with a nearly 15% dividend yield.
Investors and those financial firms are idiots mostly, and run with whatever spooks them. They think Fortnite will eat into everything else (like RDR2), when those two really don't overlap. They hear any new game has a new BR mode, they'll invest it in thinking it's instant money. But we know that's not how it works. They're clueless.
Digital games has always been the major headwind for GME, and that's all they are aware of. The hear about Stadia and try to put two and two together. But we have yet to even see how Stadia performs, or if it even takes off. They are just spooked easily; it's the nature of the biz.
Posted by ck0 on 17 March 2019 - 05:34 AM
Well shit, that was fast. Although that's the price I thought it was announced at so now it's worth looking into.
Yeah it was just released a month ago. These Ubisoft games drop quick, even outside the holiday season. Makes me think The Division 2 will crash down as well.
Posted by ck0 on 31 December 2018 - 01:07 PM
I didn't want to make a new topic for this PSA, so I'll put this here...
Anyone that placed their Kingdom Hearts 3 order from Amazon for the low price of $40.99 make sure to update your payment information if it is outdated!
Seems this order was placed January 25th, 2015. Wow, it will be 4 years ago.
Posted by ck0 on 02 December 2018 - 11:31 AM
The beginning of the end.
Gamestop posted losses of $488 million in the 3rd quarter. When you realize GS actually sold off a mobile unit for $700 million and STILL lost that much money for the quarter, it makes sense the company is downgrading all of its projections.
This was already discussed a few pages back. Looks like you don't have all the information. That's what you get for reading IGN.
The loss was from an impairment charge of $557.3 million.
Please look into it some more before trying to "assess" the situation. Without the charge, the net profit would be $68.7M, compared with a year-ago profit of $59.4M. Yes they did lower guidance. Yes they are looking to sell some of it's divisions.
Posted by ck0 on 01 December 2018 - 02:04 PM
Digital is slowly growing, but if publishers keep releasing games like Fallout 76, it can put a stop to it and even reverse it. The more people get burnt in this new "digital age", the more the realize the value in physical copies.
No, I think the other threat with digital is that these publishers are coming up with their own digital schemes, like EA Access, Origin Premiere, Xbox Game Pass, etc. I myself am a physical advocate but I tried to these services. I did for one month for Origin to play BFV early. I did it for one month for Game Pass to play Forza Horizon 4 (and thank god I did since I found the game to be pretty aimless and boring after the intro). I spent a fraction of the full MSRP price, and decided I didn't need to purchase the game -- which would normally be physical.
The other obstacle, as everyone here knows (since we all have huge backlogs), is that the games themselves are getting longer. They have engagement metrics now, and sustained support beyond the initial release: DLC, Season Passes for 3-6 months more. Gone are the days when you beat a game in a few weeks or a month and trade it in, which keeps Gamestop's pre-owned cycle going. Gamestop doesn't see any piece of this action since you can trade-in digital goods.
And yeah, their trade values are not so great either. They sometimes have their guarantee of $30 TIC if you trade in a game within 30 days after it's released. Well that's just not high enough when I'm able to sell the game on eBay or Facebook Marketplace and still profit $10 more. The only time I really prefer GS credit is if I'm planning on buying something and want to avoid taxes. And with GCU dead, GS could see more business if they step it up.