business

'To the moon' or to a lawyer, GameStop investors cope with stock's rollercoaster

8 Comments
By Krystal Hu

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8 Comments
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With trading volume swelling last week, online broker Robinhood and other investing apps placed restrictions on GameStop and other shares.The fierce rally damaged some hedge funds when they could not cover short positions.

Two sentences which sum how corporate socialist government solutions enter the equation when large corporate wealth is threatened.

For the rest it is dog-eat-dog capitalism.

1 ( +2 / -1 )

The Reddit mob cannot overcome the fundamental weakness in Game Stop's business model. They can fume all the want but the value just isn't there and their stock price will eventually reflect this fact. All their crying and foot stomping is a waste of their time, energy and in many cases their hard earned. Saner minds in the market realize this. The short sellers have a valid point, and too bad if some take offense.

3 ( +4 / -1 )

Side effect of this has been I can't sign up to any online brokers as they're all overloaded.

While I have some sympathy for the Reddit guys cause, I'm kinda amazed Game Stop hasn't gone the same way as Blockbuster already. The last time I bought a physical game disc was probably in 2006, around about the last time I rented a DVD.

4 ( +4 / -0 )

Seems some people are unaware of how Gamestop is changing its business model. Over 30% of its sales are online, they're significantly broadening their instore service menu (build your own PC with specialist tech guidance, etc) and Ryan Cohen of Chewy fame is onboard to help transform the company further. Sure, it's not currently worth what it's trading for, but to say it's worth only $20, as the short-sellers were claiming, is equally disingenuous.

1 ( +1 / -0 )

GameStop and BitCoin's meteoric rises are similar, though the former has actual value underlying it so you won't loose everything, the latter is ... well only worth what others wish to pay you for it.

0 ( +0 / -0 )

Mlodinow

Seems some people are unaware of how Gamestop is changing its business model. Over 30% of its sales are online, they're significantly broadening their instore service menu (build your own PC with specialist tech guidance, etc) and Ryan Cohen of Chewy fame is onboard to help transform the company further. Sure, it's not currently worth what it's trading for, but to say it's worth only $20, as the short-sellers were claiming, is equally disingenuous.

Fair enough. But plans to turn around and the actually execution of that are two different things. They have an uphill battle that they are only now starting.

1 ( +1 / -0 )

Seems some people are unaware of how Gamestop is changing its business model. Over 30% of its sales are online, they're significantly broadening their instore service menu (build your own PC with specialist tech guidance, etc) and Ryan Cohen of Chewy fame is onboard to help transform the company further.

Too little too late, and no guarantee they can actually achieve their stated plans.

Btw, there is still one Blockbuster store left, in Bend Oregon. Maybe the last Game Stop store will co-locate.

1 ( +1 / -0 )

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