I wonder what GameStop’s CEO will think when he’s going to have to pay all those high import tariffs on Nintendo, Sony and other products…
unfortunately itll be the consumer lumped with those costs
And if people really are as concerned with the economy as they claimed to be, what’s going to happen when prices go even higher?
“The economy” for most people is “I have BAD vibes right now!” rather than any actual consideration of economics, national or household.
t. someone ACTUALLY in the bottom 15% of American workers.
However, the economy being good is not often actually good for the customer. It’s just a slowing down of things getting worse.
And if they can’t afford them, they’ll buy fewer games. Because games are less necessary than food.
Gamestop’s ceo doesn’t give a shit. He’s literally just there to pump and dump his options and GTFO.
They’ll do the same thing big restaurant chains did where they couldn’t pay their tipped employees less than minimum wage anymore. They’ll add a new “service charge” so they don’t have to increase the product price directly. They’ll make it much higher than the actual tariff costs, but say “hey look we’re not charging you a full 20% more.” Even though the tariff isn’t 20% of the retail price but people who support the tariffs are dumb and will think they’re doing good.
People need to eat. They don’t need chain food, but many people don’t have time to cook these days.
People don’t need to buy games.
It will always be a different market for food than it is for games.
OK, then look at cable TV. Or any other industry where a tax or regulatory fee was added and a customer gets a detailed bill with charges other than the product cost. They just add line items and pass it on, but of course most of the time those line items aren’t directly connected to the cost itself since the consumer wasn’t the direct target. So the companies add a little extra for “processing” (i.e. profit). It’s a common practice and likely to be the same with the tariffs.
I don’t think he’ll care. GameStop has become a pawn shop for children these days, that’s where they make their money.
If the price of a Switch 2 or PS6 goes up 30%, they’ll probably pull a Kroger and mark up 40%. Plus resale prices will go up too. It’ll probably work out for them.
Okay, now can we short sell GameStop stocks and bankrupt them? /s
NEVER SELL SHORT! NEVER SELL NAKED CALLS!
They have limited up side and infinite down side. If you want to bet against a stock, buy PUT options. If you don’t think it will go up, sell covered calls.
I feel like the things I want to call you besides calling out your lack of diamond hands will get me banned but would be normal wallstreetbets language
I am highly regarded there.
I was kind of wondering the same. They don’t seem to understand their customer base or the group that saved their butts at all.
You could, but they have over $4 billion in cash just sitting around.
I guess I can stop supporting them altogether. It’s been a novelty for quite awhile now anyways.
It’s still down from where it was 2 years ago when I bought it. I’m deciding when to sell it to be able to claim the loss on my taxes since I’m not expecting any profit from it.
Not sure how that’s possible unless you only bought back in 2021. Within the last 2 years, it actually peaked in May of this year around $65. Otherwise, it’s been pretty stable around $20-$30. There’s been plenty of time to get a low average cost and take profit when it starts running again. Now that they have year-over-year profitability and $4-billion in cash, I expect there will be future opportunities too.
Dumb dumb me bought it at $35, though that was pre-split. I haven’t put a trigger on selling it either since I was holding on to it.
I think that must be post split then. If it was pre-split, those would be $8.75 shares, which is a very good price and you would be way up.
Something isn’t adding up. I bought them in 2021, and the split was in 2022. But the qty it says I bought matches my current number. I’d expect that to be quadrupled . I need to look through my documents to verify
