GameStop Deathwatch

[Milwaukee Macho Man]

i wish they'd just line up all the used DS/3DS games on a shelf instead of locking the carts in display cases. NONE OF THIS SHIT IS THAT VALUED LMFAO.

Reminds me of a story I heard on Cum Town where a guy worked at Gamestop, someone broke into the Game Boy case (I think he said this was around 2006-200 and his manager made a big deal about it and treated it like some professional heist when all the guy did was smash the lock or something.

That was Gamestops prime years too. 2 bucks today is probably worth a lot to them.

 

[AbyssStarer]

Well, Corona-chan is fucking them over: You have to order by phone or internet just to shop there.

You must be living in California or New York. You aint gotta do that shit here, you just walk the fuck in. They say they only let in 7 at a time but there's never that many people in their stores anyway. They're happy to get any business.

 

[NerdShamer]

Yes, I live in the Golden State.

...I hate it.

 

[Dom Cruise]

I've been waxing nostalgic for the Electronic Boutique and later Gamestop that was at my local mall and is no more.

I understand Gamestop sucks today, but there are a lot of good memories of that mall location.

There's so many aspects of being a gamer that have fallen by the wayside over the years, magazines, TV shows, websites, stores, I just miss the overall experience of what it was in the 2000s.

 

[White Devil]

Man, I still have my EB Games edge card too.

And yeah, early 2000s really was the best of times. None of all this too serious shit, you could call someone a faggot casually without some troon on the internet trying to destroy your entire life over it, most things were still very affordable, people didn't live on their cell phones yet, etc.

Like I'm glad Gamestop is dying, it has always deserved to, but I also kind of miss the days when it was at its peak.

 

[GenociderSyo]

The one near me will probably never die it went more collectibles store then gaming. Seems to also be one of the few still carrying stock of Vita games on display.

 

[AbyssStarer]

Is the death of GameStop reversing?
I went into my local LameStop for their Black Friday deals this week and they

1. Have new copies of games that are still shrink wrapped
2. Had good deals too, in the past their "deals" were on unsellable bargain bin garbage
3. Got rid of a lot of gaymur merch and put out more video games. Could purely be to pretend to enforce social distancing but still promising.

There was a lot of people in there, it was surprising. It was because of Black Friday but I haven't seen that store so busy since ~2012.

 

[Syaoran Li]

Is the death of GameStop reversing?
I went into my local LameStop for their Black Friday deals this week and they

1. Have new copies of games that are still shrink wrapped
2. Had good deals too, in the past their "deals" were on unsellable bargain bin garbage
3. Got rid of a lot of gaymur merch and put out more video games. Could purely be to pretend to enforce social distancing but still promising.

There was a lot of people in there, it was surprising. It was because of Black Friday but I haven't seen that store so busy since ~2012.

The crowds were probably due to Black Friday and everyone being cooped up for most of the year plus if GameStop is trying to get better, it's probably as a last ditch effort to stave off the inevitable for a little longer

 

[Dom Cruise]

And yeah, early 2000s really was the best of times. None of all this too serious shit, you could call someone a faggot casually without some troon on the internet trying to destroy your entire life over it, most things were still very affordable, people didn't live on their cell phones yet, etc.

It really was, despite some things happening in the background that implied the good days weren't going to last forever and they didn't, but at the time it was really the best of times in some ways.

Is the death of GameStop reversing?
I went into my local LameStop for their Black Friday deals this week and they

1. Have new copies of games that are still shrink wrapped
2. Had good deals too, in the past their "deals" were on unsellable bargain bin garbage
3. Got rid of a lot of gaymur merch and put out more video games. Could purely be to pretend to enforce social distancing but still promising.

There was a lot of people in there, it was surprising. It was because of Black Friday but I haven't seen that store so busy since ~2012.

I'd rather see them get better than go defunct completely to be honest.

 

[murdered meat bag]

Reminds me of a story I heard on Cum Town where a guy worked at Gamestop, someone broke into the Game Boy case (I think he said this was around 2006-200 and his manager made a big deal about it and treated it like some professional heist when all the guy did was smash the lock or something.

That was Gamestops prime years too. 2 bucks today is probably worth a lot to them.

 

[whatever I feel like]

Is the death of GameStop reversing?
I went into my local LameStop for their Black Friday deals this week and they

1. Have new copies of games that are still shrink wrapped
2. Had good deals too, in the past their "deals" were on unsellable bargain bin garbage
3. Got rid of a lot of gaymur merch and put out more video games. Could purely be to pretend to enforce social distancing but still promising.

There was a lot of people in there, it was surprising. It was because of Black Friday but I haven't seen that store so busy since ~2012.

Does Gamestop still sell new games at 60 dollars when Walmart and Amazon have them at 50? This has great effect on my opinion vis a vis them being faggots is.

 

[ShortBusDriver]

I've been waxing nostalgic for the Electronic Boutique and later Gamestop that was at my local mall and is no more.

I understand Gamestop sucks today, but there are a lot of good memories of that mall location.

There's so many aspects of being a gamer that have fallen by the wayside over the years, magazines, TV shows, websites, stores, I just miss the overall experience of what it was in the 2000s.

Don't forget Babbages

We had both around here.

 

[Tanner Glass]

Is the death of GameStop reversing?
I went into my local LameStop for their Black Friday deals this week and they

1. Have new copies of games that are still shrink wrapped
2. Had good deals too, in the past their "deals" were on unsellable bargain bin garbage
3. Got rid of a lot of gaymur merch and put out more video games. Could purely be to pretend to enforce social distancing but still promising.

There was a lot of people in there, it was surprising. It was because of Black Friday but I haven't seen that store so busy since ~2012.

Probably not, but Black Friday (and all Holiday Shopping) is a shot in the arm for most retailers.

Reminder though that Gamestop doesn't do exceptionally well when selling new items - there isn't a huge amount of margin there and other retailers (Amazon and Walmart) typically sell the same items cheaper. It's unlikely they're selling a ton of used equipment as the new "hotness" is next-gen consoles, which is too new to be in the "used games" lifecycle and the margin on systems/new games is relatively low.

The real "test" they're going to have this year is not overpaying/buying too many of the PS4/XBOX1s that people are trading out and seeing how they can try and make money from them in 2021 and beyond.

 

[Overcooked Raccoon]

Is the death of GameStop reversing?
I went into my local LameStop for their Black Friday deals this week and they

1. Have new copies of games that are still shrink wrapped
2. Had good deals too, in the past their "deals" were on unsellable bargain bin garbage
3. Got rid of a lot of gaymur merch and put out more video games. Could purely be to pretend to enforce social distancing but still promising.

There was a lot of people in there, it was surprising. It was because of Black Friday but I haven't seen that store so busy since ~2012.

From what I've been hearing on the pipeline it is still the same, if not worse due to Covid.

They're focusing on this mainly due to the lack of foot traffic in the stores since most stores have a set amount of people allowed in due to covid.

They've drifted away from gutting (Opening a new game, taking the content out, and putting it on the shelf), probably due to Covid, but it's something long overdue. In replacement they've been using new cover art for each of the games, which will hopefully help battle idiots who steal empty game cases in the store thinking they're full with a game inside. However that also cuts hard into employee time if the store isn't organized, and also prevents the employee from knowing what the codes are and how to redeem them if there are any. Since some people are very smooth brain that shop at gamestop.

The main draws I've been hearing that are still bad are employee coverage. To give perspective I was a GA (I shifted down the totem pole because i wanted benefits at Gamestop but didn't want to commit my life to them), and I was still at the store at the time the pandemic made it's rounds in Feb. I was only called into the store ONCE in may, and that was to fill out paperwork for Covid. Past that not a peep despite being on the schedule and part of the company. Meanwhile SL,ASL and two SGAs(Shift supervisors), are handling the stores and their hours are getting sliced and diced because Covid.

The r/gamestop has a lot of posts about saying Cyberpunk is gonna be a shitshow due to hours, and considering how their PS5 units were awful (2 per store on restock), it's still going to be full of bullshit.

In terms of the sales, they do this every year, the only BIG thing I noticed is Nintendo first party games prices being cut. It's usually just stuff like Mario + Rabbids, but seeing stuff like Three Houses get cut is interesting. But that's just the holiday sale flair, but it did make me look into buying FFX-X2 for switch since they got it for just 20 while amazon is going for 35.

 

[wtfNeedSignUp]

So what's happening with GameStop stock? I saw people online and in the Bidness talking about it, but it all sounds like Chinese to me.

 

[Marissa Moira]

So what's happening with GameStop stock? I saw people online and in the Bidness talking about it, but it all sounds like Chinese to me.

Insider info about a hedge fund got out and they had a ton of money based on Gamestop underperforming, Biz decided to initiate a group buy and everyone bought Gamestop stock to fuck over the hedge fund. It worked apparently.

 

[Dark Edea]

Insider info about a hedge fund got out and they had a ton of money based on Gamestop underperforming, Biz decided to initiate a group buy and everyone bought Gamestop stock to fuck over the hedge fund. It worked apparently.

GameStop runs on spite and disappointment.

 

[419]

Their stock went up by a factor of over 25 after 6 months.

 

[Marissa Moira]

Imagine being Gamestop and your two biggest investors are Microsoft and 4chan.

 

[BIG BILL HELL'S]

Here, have a badly formatted Twitter thread.



If you're out of the loop - this is the (hilarious) story of a subreddit (wall street bets) taking down a multi-billion dollar hedge fund... get your popcorn ready

the hero of our story: a user named DeepFuckingValue bought $50k of call options in Gamestop ($GME) that has turned into a $13M+ win in ~3 months. he's a part of the subreddit r/WallStreetBets, a group of degenerate gamblers that I love.


So here's the situation. Gamestop (GME) = a dying biz. circling the drain. Who goes to a store to buy games? It's basically a pokemon card dealership at this point. Plus with covid, malls are dead. So some Hedge Funds are shorting the stock, betting it would go down.

One fund in particular, Melvin Capital Managment - a multi-billion dollar hedge fund...had been accruing a big short position in gamestop. Usually you don't have to disclose your shorts - but these were 'listed put options' so some clever redditors discovered the position

Melvin had a $55M+ short against GME.. If you're not familiar with shorting - read this simple explanation using apes and snakes and bananas from the subreddit. Teachers, take note:

except in this case - redditors saw the overloaded short position and started buying the stock, as a "short squeeze" against melvin. Now the "borrowed" shares were due, but redditors refused to sell, demanding higher and higher prices.

to be clear. This has nothing to do with gamestop as a business. They are just a piece of rope being used in a tug of war between internet nerds and wall st suits. the rally cry on r/wallstreet bets: "we can remain retarded for longer than they can stay solvent!"

Melvin lost $2B+ in like 2 weeks, and just had to get bailed out by 2 other funds just to cover it's losses from the shorts. It's not quite George Soros "Breaking the Bank of England" - but it's close. The yolo traders of reddit just broke a multi-billion dollar hedge fund

"Why can't Melvin capital just uninstall robinhood and reinstall it to restore their save game to get their money back????" - u/dopexile

short squeezes (and day trading) are stressful and super volatile. But... I'm here for the petty fight between internet trolls and wall st. And in that fight, i'm going with the neckbeard cat guy rather than goldman sachs suit. $50k on $GME and $BB at market open baby