The $GME gamestonk thread

Discussion in 'Politics & Current Events' started by mbardu, Jan 27, 2021.

  1. SpaceDock

    SpaceDock Shred till your dead

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    What am I missing here? Stocks are a projection on future earnings of a company. I haven’t gone into a GameStop in 10 years (I think when Diablo 3 came out) and I can’t imagine too many people go either. Steam and Epic rule pc games, just order or download for consoles. How is this business growing or have any place in the future? Seems like Blockbuster fanboys to me, idk?
     
  2. Demiurge

    Demiurge Intrepid Jackass

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    ^I guess the plan is for the company to pivot to a more online model, but that offers no guarantee of success. GameStop had to deal with not just competition online but also other brick & mortar stores; plus, like you mention, physical media is on its way out, and, hell, if stuff like Stadia ever gains traction, consoles, too. It's a big ask for an underdog in their own territory to step into a tougher one and kick some ass. But, I guess right now it's all about wringing as much money out of every crumb of optimism.
     
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  3. ElysianGuitars

    ElysianGuitars SS.org Regular

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    I've been deep in this debacle since January... First share bought at $334, averaged down to $220ish while the stock was on the way down to $39, then made the now genius move of doubling down at $43 per share a day before this thing shot back up, my average buy was $134 this morning.

    And this morning, the stock hit $300 just long enough for my limit sell of 10 shares to go through and get my initial investment back. Now I still have 12 shares that I can let ride however high the stock goes and however high I feel comfortable with.
     
  4. mbardu

    mbardu SS.org Regular

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    Don't try to look for a reason in fundamentals. This is entirely stock price driven, and the reason for this whole thing was people aggressively shorting the company, precisely because of the arguments that you're giving - that it was a failing business model. That wasn't a secret to anyone, and it still isn't. The price at this point has nothing to do with earnings or growth.
     
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  5. mbardu

    mbardu SS.org Regular

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    330$
     
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  6. philkilla

    philkilla Baritone Maniac Contributor

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    Paper hands here. I'd short if I had the liquidity to match the volatility.
     
  7. Xaios

    Xaios Foolish Mortal

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    So yeah, Dogecoin went insane today. I sold enough at the peak to get back my initial investment, so anything now is gravy. Specifically, it broke 10 cents USD 2 days ago. Today, it broke 25 cents USD.

    I am suspicious that this is likely just a big pump and dump, but hey, I'm at least guaranteed not to lose anymore, and the value is more than 600% what it was when I bought.
     
  8. SpaceDock

    SpaceDock Shred till your dead

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    I think it’s insane that Elon Musk is behind pumping Bitcoin and now Doge. If something really just needs the backing of someone like him to send it “to the moon” what happens when his interest wains? I just can’t image this still being a thing in five years. Best of luck to those who chose the right hype when it was low.
     
  9. spudmunkey

    spudmunkey SS.org Regular

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    Believe it or not, it's already been around for 8 years. o_O
     
    Last edited: Apr 16, 2021
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  10. Xaios

    Xaios Foolish Mortal

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    I changed my mind. Got out. What can I say, I multiplied the money I put in 7 times with a meme currency. At the end of the day, I won no matter what happens now.
     
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  11. nightflameauto

    nightflameauto SS.org Regular

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    Every time I try tossing money at dogecoin it ends up being impossible to get money into the exchange. Ah well. I'll sail on my etherium for now.
     
  12. possumkiller

    possumkiller Square Dance Caller

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  13. fantom

    fantom Misses his 6 strings

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    The stock price has nothing to do with the business. It's people trying to game automated systems.

    That being said, my understanding is that GameStop is still relevant for used game market. Many people buy or trade used games. It's pretty much Blockbuster. People are willing to lose $15 to play a game one time and sell it back or trade it in. It Is far cheaper than $60 with no return policy like Steam and Epic force on users. Thank God for Summer Sales...
     
    Last edited: May 20, 2021
  14. TedEH

    TedEH Cromulent

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    You mean that company that died because it wasn't relevant anymore?
     
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  15. fantom

    fantom Misses his 6 strings

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    Touche
     
  16. Jonathan20022

    Jonathan20022 Engineer

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    I mean unless you've completely abused the system, Steam should have a two hour/two week window where you can request a refund no questions asked.

    It was hilarious seeing such nostalgia for Gamestop when this a trending topic. They nickel and dimed us and out of convenience we just let them take $300 in games for a new title and a bogo used purchase, on a good day.

    There's not really much excuse anymore for buying a game you dislike, there's countless people playing the games on livestream services, youtube reviews, enthusiast discussion forums. If you're "losing" money on a game like Cyberpunk because you somehow missed the gauntlet of negative press and gameplay videos that's on you, not really on any specific system.

    I don't know if the Epic Store has a return policy though mind you, I just use them for the freebie alerts I get. :D
     
  17. Drew

    Drew Forum MVP

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    That was honestly my favorite part of watching this whole saga unfold, is suddenly after a decade of GameStop being the butt of memes for ripping off gamers, they were heroes taking part in a heroic fight against hedge funds trying to drive them out of existence by shorting their stock (which is nonsensical, but here we are. :lol:)

    Evidently all the memers had never set foot in a GameStop, which as a shareholder should be cause for concern. :lol:
     
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  18. TimSE

    TimSE Tone Chasr Contributor

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    I'm still hanging on to my infinity shares. To keep *just in case if really does shit the bed*

    I wonder how many people will definitely shop at Gamestop now... ;)
     
  19. TedEH

    TedEH Cromulent

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    I wonder how retro shops generally fare compared to Gamestop. I can't remember the last time I bought something from a box store type new-games store, your GameStop/EBGames etc. Maybe 2 years ago? Maybe longer? I go into some smaller retro shops every once in a while though - as recently as this week. Makes me think stores like GameStop might fare better to pivot towards that same audience, if they haven't already.
     
  20. mbardu

    mbardu SS.org Regular

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    $GME back to within a hair of 300$ today.
    $AMC higher market cap than $GME when it touched 70$.
     

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