what an odd thing to say for a company that employs millions of minorities. sold my stock
You might be off by a few million…
guess it’s time to finally sell my GameStop stonk.
Carbon hands, everyone.
I sold all mine the second he started tweeting about trump. Good riddance.
… and I’m out of this thing now too. Glad I caught this post.
i made $5 from years of holding 😂 quickest sell of my life
I lost $300 bucks but here’s what I gained: I stuck it to the man in 2021, and I am sticking it to Ryan Cohen today.
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Even if it’s not worth it to you personally, it’s still a good deed to sell stock in a company when their CEO does something like this. Every sell sends a small message.
A sell doesn’t happen without a buyer on the other end. It’s a wash when it comes to messaging.
it’s not a wash, because you sell for a different price than you bought at.
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You’re just selling to some roaringkitty fanboy the actual company couldn’t care less. If you’re in a 350 you may as well hold it on the off chance something weird happens and you could break even.
Or, you can sell at a loss for the tax benefit, but that only applies if you have capital gains to use it against. So if you find one year you make some money off some other stock that would be a good time to sell the GME at a loss.
I agree that selling a $100 stock doesn’t hurt the company $100 – but it does hurt them some amount between $0 and $100 which I don’t feel qualified to calculate. The ultimate reason that stocks go down is because people sell.
After the stock is sold by the company it’s completely disconnected. No money to or from the company, no message sent. The only way it’ll hurt them is if they try another offering where they sell new shares and the stock price is low, which will be announced beforehand. Or if they want to buy them back, which probably won’t happen.
Keep the shares or sell them. GS won’t care.
I agree they won’t care about 1 stock, but the board absolutely cares if many people start selling below what they believe to be market value
Anyone who didn’t sell after the idiocy of the NFT market is a fuckin bagholder through and through.
An NFT market was stupid to begin with, because it’s trying to use endless amounts of CPU cycles to enforce an “ownership” system that is genuinely unneeded and only serves to benefit Capital and Capitalists.
Hell yeah let’s burn down the planet for fuckin skins in video games! /s
Later, they would shut down the same market, after barely over a year and a half.
This was and is a company with no concrete plans for the future that was spinning its wheels since its core business was failing and continues to fail.
Diamond hands? More like Sunk Cost Hands.
Akchually, NFTs don’t even burn CPU cycles to enforce ownership. At best it’s all created and sold by a central party, and at worst the whole thing runs on his laptop.
Hell yeah let’s burn down the planet for fuckin skins in video games! /s
It’s an apt comparison but NFTs are sooo much worse than skins. At least there’s an opportunity to “enjoy” skins as well as show them off during an activity you’re doing anyway.
With an NFT it’s just “look at this picture I own!” and nothing else
I thought an NFT was just a link to an image and didn’t actually contain the image itself?
Neither of you are correct, technically, although you shouldn’t feel bad about that as it’s what 99.9% of people think. An NFT is a representation of ownership on the block chain ledger. It can represent ANYTHING, houses have been sold as NFTs as well as many other things.
I’m curious about the claims of the guy above you as well, I certainly don’t know for sure, but I don’t see why it should take incredible amounts of energy to maintain block chain, and it sounds like that user is conflating crypto mining with NFTs.
Note: I am not promoting either, please don’t buy crypto or pointless NFT images!
I’m glad some people understand beyond the headlines, I think NFTs could be really neat as a way to have some sort of in-game item or w/e, fully transferable and all that 🤷♂️
Especially since most nfts I’m aware of are on the ethererum blockchain, which now uses orders of magnitude less electricity from the switch off of PoW
Impossible at this point. I’m not even remotely joking when I say I have never seen a more powerful misinformation campaign in my entire life, for anything political even, as I did for brainwashing the masses into believing that NFT = JPEG. Literally almost every human you will encounter knows the term NFT and thinks as a fact that it’s just another image file type, but in particular one that was heavily memed and morons/criminals moved incredible sums of money over. They don’t understand that a lot of the extremely high dollar NFT sales are just money laundering or other criminal loopholes, they just think really rich people are paying millions for monkey pictures. It’s the most lost cause of anything. You might as well try convincing the world that religion isn’t real; right as you may be, it’s impossible to accomplish.
Sadly I’m on the latter train as well xD yeah completely agree.
Exactly!
It would even be cool to have common ownership between games, like if I bought a license for a cool skin and the dev/modder made the skin compatible with a bunch of other games. The game would just check if I own that particular IP, and the load the appropriate data that corresponds to in the game.
It would also be cool to buy and sell houses w/o having to go through a title company ($$$). If deeds were on a blockchain, the state could just look up ownership info and bill whoever the current owner is when tax season rolls around. There are already mechanisms for managing liens and whatnot (smart contracts), so I could completely skip the corrupt financial industry.
The same is true for a ton of other things. NFTs could be an amazing technology to simplify a ton of real life things. As long as people agree to a given blockchain, transactions would be incredibly straightforward.
But no, scammers had to go and mismarket it, rich people had to use it for money laundering, and governments had to go on attack mode. This is why we can’t have nice things.
Yes. The data for the image isn’t hosted in the block chain of the NFT. The NFT is basically an unfalsifiable digital signature of authenticity.
They’re popularly used for digital art, but can be paired with any technology as a digital signature.
is it me or conservative always freak out when thier R politician wins an election, did not think the things they are railing against was happening,.
RC is turning out to be a giant douche bag. Who would have saw that coming
He always was if you check out interviews with him from years ago. Biggest smug ego of anyone and he talks like a valley girl.
It has absolutely nothing to do with their entire core business model being obsolete.
Nor with the issue that they’ve been hemmoraging money at a staggering rate.
Wait, their business model of giving you $3 for a game they’ll charge $50 for isn’t working? The business model that I have to go drive and interact with someone and hope the game is in stock? Who would have thought?
The company as a whole is profitable with not a dollar of debt, where is this staggering hemmorage?
Recall that the first quarter after the whole WSB thing, they had something like 2 billion in cash from that whole thing.
A year later, they had 1 billion.
Half a year later, 500 million.
All of a sudden this quarter, after shutting down stores all over the place and gutting their staff, they’re claiming 4 billion cash on hand, helped out by unproven social media claims growing their stock price 30%.
doubt. Their business model relies on physical games being sold multiple times, once when new, and then multiple times as used copies. This is why they’re focusing on retro consoles. New consoles have passable online marketplaces, so Gamestop cannot compete, and are completely inferior to PC gaming, which hasn’t needed Gamestop in 20 years.
Theyre also going against small gaming hobby stores which while not everywhere they can offer secondary services not reliant on reselling games multiple times. Such as offering LAN parties for old games, table top games, or even movie nights. These are just things I know the shop one of my kin in Arkansas goes to does.
What do you mean unproven social media claims? the $4 billion in cash is in their quarterly earnings: https://gamestop.gcs-web.com/static-files/2c1eac18-9f79-41b9-9e56-a8db8fe7aac4
Pretty easy to verify yourself.
That would be a valid assessment if the stock price had jumped after the quarterly earnings.
Their stock price jumped before the quarterly earnings was announced. It has nothing to do with it, nor any of their fundamentals
Also notice:
Cash flow is neutral or negative and has been for a while now. Revenue peaked in 2018 is now less than 62% of that peak. Revenue per quarter is also down 11% year over year.Company lost 34 million dollars last quarter, and has not had a positive operating income since feb 2018. https://www.msn.com/en-ca/money/watchlist?tab=Related&id=a1tyxm&duration=1Y&src=b_fingraph&relatedQuoteId=a1tyxm&relatedSource=MlAl&l3=L3_Financials
Even if they continue loosing $34-million each quarter, it will take over 33 years to go bankrupt with the current $4.6-billion cash on hand.
Seriously though, I see that earnings per share was positive for 2024. How is that possible if revenue has been negative since 2018?
Because the share price jumped up so much last year to give them that cash on hand.
Also the $34 million loss is their best result since feb 2018, most of their losses have been 10x higher. Although it does look like a long term trend into the positive cash flow. Also the CEO is mentioning a stock dividend now, so that takes care of the cash on hand.
My local stores sell steam games and PC parts, I don’t think you understand the business model… When was the last time you visited a store?
Not to mention now they’re doing pokemon tcg, that just prints money.
Oh yeah the trading card business too, plus all the homewares now. Currently eating dumplings out of a pokemon licenced bowl manufactured by gamestop
Good luck man. What happened last time they got a huge influx of cash from retail traders? From what I read they wasted it in NFTs.
Now they’re wasting it on trading cards. The company is floundering. Surviving purely from generational nostalgia at this point. When that runs out the rug will be pulled.
They never bought NFTs, they built a website for trading NFTs. Very minimal expense that’s already written off as it got banned by the US govt
Now they’re wasting it on trading cards.
I think you might need to do a bit of reading and research about the Pokemon TCG market. They should be pouring as much money as they can into it. With their brand name and reach they should be able to get a lot of stock from suppliers, and it can make them massive, massive profit. Pokemon TCG is the hottest product on the market, with new stuff selling for 4x RRP on day 1.
they’re claiming 4 billion cash on hand
If that’s a lie then they will get absolutely wrecked by the authorities since they’re a publicly traded company.
Over 4 billion cash is shown on the balance sheets on their latest filings too
Yeah, about the ”authorities”….
Publicly traded companies misrepresenting their finances, especially to this claimed extent, are not tolerated and are dealt with harshly.
But the instance dedicated to a death-grip on this one stock said it was the future!
after all that effort from the WSB community to save the company.
Are redditors still diamond hands on gme?
Let me tell you a story… I sold off all my Bitcoin and put it all into GME stock right when it was starting to go up… Because why not right? It wasn’t much like it was worth 1000 bucks or something… Because everyone said the bitcoin bubble was going to pop or something… And then Bitcoin went from 30k to 60k in like two months… And now it’s closer to 100k
Long story short I make bad choices and no fuckin way I’m selling my GME for a loss just for it to double or triple again in two months
I see you jack.
Jack: This is GE!
Banks: It’s just G now, Jack. I sold the E. To Samsung. They’re Samesung now.
God, where’s the 30rock Lemmy?
-whispers into your ear-
You should sell.
I think people underestimate the mental health benefits of never thinking about whether number you can’t control or predict go up or down.
Where is the /s?
WHERE IS THE /S?
It’s really greentext
It’s not I assure you… I paid like 50 bucks for the Bitcoin I think maybe 100 at most… I had it for a while… I don’t care about the money it’s mostly written off I just let it sit at this point because you can’t time the market or something
It’s more a commentary on your writing style, but the potential for satireality is written all over it.
<be me
<sell off all my Bitcoin
<put it all into GME stock right when it was starting to go up
<because why not right?
<1000 bucks or something
<because everyone said the bitcoin bubble was going to pop or something
<bitcoin goes from 30k to 60k in like two months
<now it’s closer to 100kLong story short I make bad choices and no fuckin way I’m selling my GME for a loss just for it to double or triple again in two months
just for it to double or triple again
Wow, talk about sunk cost fallacy…
Nah my initial investment wasn’t nearly as much in Bitcoin…
Taking the loss on GameStop is something you can take as a tax write-off for years (depending on the size of loss).
Not since Ryan Cohen gave the shorts everything they wanted with the stock sale last year and had absolutely nothing to show for it like a new product or acquisition. Ryan Cohen betrayed his core investors and did something that was supposed to be impossible. He turned a MACD Golden cross into a death cross with a stock sale. Impossible because it would take considerable timing, and back door dealing that is still illegal, in order for it to happen. GameStop dead. Ryan selling assets cuz the ship ain’t righted, and he ain’t got a better plan. Shrink the business and rip off the small guys that invested.
Frankly I think every stock-oriented subreddit is a controlled operation meant to pull value from the subscribers only. I doubt almost any thread on those subs are people authentically sharing their perspectives.
Dump the stonks!
He’s just pissed his company is on life support, and that WSB just dragged out the inevitable.
Trading in my points and cancelling my membership this weekend. 95K points should get me a few fun things before I never ship there again.
Honestly as a dumbass still holding worthless empty bags labeled GME, I hate Ryan Cohen almost as much as I hate Musk.
The stock price is not declining, and is up for the year. What’s the problem?
It’s a bad sign that you know the CEO’s name.
You didn’t answer my question, just downvoted. Are you retarded? You’d have to be to leave that comment in reply to mine on this thread.
You’re on a first name basis, even a parasocial relationship with the CEO of Gamestop despite never having met him. Who here is intellectually deficient?
God damn. That’s honestly one of the dumbest fucking takes I’ve seen, and we’re living in Trump 2.0. You’re impressively unintelligent.
Says the guy who’s passionate and on a first name basis with the CEO of a game store chain.
I just wish I was paying attention the day it climbed back up to 60$, I would have sold for a small profit in a hurry…
Damn dude, diamond hands or broken hands?
I was locked into FOMO and sunk cost fallacy, I’m now trying to get these scumbags at Computershare to give me my shares back so I can sell them.
Yeah let me know if you ever figure that out :\
Oof, you went full DRS. Not judging, I probably would’ve sone the same if I got in late.
Yeah, it’s an embarrassment I have to live with forever. The person who got me and my friends into it doesn’t talk to my group anymore and I think it’s out of shame. I, in turn, feel shame not only for my part in participation in the market, but for convincing others to buy shares as well.
Fucking thing sucks, I want my money back Ryan, you cock.
TBF it was a good idea to buy, just required the caveat that you should’ve sold in January. I somehow timed my exit well, then proceeded to plough a stupid amount into another meme srock which now sits at -48k, a good reminder that gambling is for idiots. Like me.
It has nothing to do with his being an abject failure as a CEO. Nope. Nothing at all.
His company is alive thanks to a meme. Get fucked, CEO
I was entirely checked out on gme until a few weeks ago, when I remembered it and decided to drop the bag. Turns out I pretty much broke even. Glad to see I was making the right move
