GameStop announces plans to sell off French and Canadian outlets, while its CEO yells about 'Wokeness and DEI' in bizarre, self-defeating promotion
GameStop announces plans to sell off French and Canadian outlets, while its CEO yells about 'Wokeness and DEI' in bizarre, self-defeating promotion
At the rate these chains are telling me to fuck off with my business and ignore them I'm gonna end up with nothing but farmer markets and crafts shows to shop at...
And somehow, Costco? Weird twist.
It's not even a weird twist it's just people who understand how capitalism actually functions and realize that investing in their workers means their workers have more disposable time and income to spend buying shit at Costco.
It's wild to me that we've had to go from advocating for leftism/unions to "if we are gonna do capitalism shouldn't we at least do it in a way that won't break literally everything?"
Costco is simply a traditional capitalist business that doesn't want to see the economy completely implode for everyone but the rich. They are simply promoting capitalist economic fundamentals that made the US an economic powerhouse in the world and built a wealthy "middle class."
Treating your workers well is also an attempt to prevent unionization. Only about 8% of Costco employees are represented by a union.
That too, though I haven't had reason to go there just yet. Curious to see some stats over the year to see if there's a notable bump for them due to standing against the trend to kill DEI.
I have some bad news about farmers for you...
But good news about crafters.
Time to double-down on making ironic kitsch that say violent things but in a cute, folksy way. Like a pretty sign with script letters and flowers adorning the edges, saying Deny, Defend, Depose instead of Live, Laugh, Love.
The elites don't want you to know this, but you can grow your own plants
Farmer's market farmers generally aren't from giant corporate farms.
They can have a white supremacy issue though.
Do not ask those farmers follow-up questions.
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.
But the instance dedicated to a death-grip on this one stock said it was the future!
guess it's time to finally sell my GameStop stonk.
Carbon hands, everyone.
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.
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.
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
Whelp time to cancel my GameStop runs.
I don't support chuds
Can't cancel what I never did. GameStop routinely has terrible prices, poor selection (in my area), and mediocre service. I buy most of my used games from eBay, and most of my new games from Target (when on sale). Screw GameStop...
The WSB campaign to save it made no sense to me. So many better companies have gone under.
Sell sell sell!
Seriously, when CEOs say shit like this they're covering for something. Abandon fucking ship
He just needs to stop, Trumps bro-circle jerk is already full.
I hear they're moving to a bigger venue.
DEI is some zealous American Puritanism which has no relevance in France, so I’m confused how he made the connection?
I don't really know much about French politics, but surely there is something similar that right wing reactionaries can get upset about there.
For example a Dutch friend of mine who has been radicalized by Joe Rogan, Twitter, and Facebook tells me that you can't say anything bad about Islam in Holland, as he sends me link after link with fascist anti-Muslim propaganda. (Like... you can't say things that the "news" that you just sent me is literally saying?)
I doubt it's related:
The reality is that the physical side of GameStop's business has been in steady decline for a while. In 2019, GameStop closed around 200 stores in an attempt to "reboot" the company. GameStop's fortunes briefly rose due to its 2021 stock surge, but shares quickly plummeted following that initial spike.
They're probably just not making a profit anymore in those regions, so they're closing up shop, and the CEO took the opportunity to go on a largely unrelated rant.
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...
The peak employment number for GME was 27,000
Oh god what did Chewy do?
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.
His company is alive thanks to a meme. Get fucked, CEO
after all that effort from the WSB community to save the company.
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
Dump the stonks!
Honestly as a dumbass still holding worthless empty bags labeled GME, I hate Ryan Cohen almost as much as I hate Musk.
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...
Same same same same same.
The stock price is not declining, and is up for the year. What's the problem?
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.
He's just pissed his company is on life support, and that WSB just dragged out the inevitable.
All it had going for it was the over-short-sold theory, which was sound but not enough to prevent the billionaires from just adjusting the way they play the game. The idea to become a focal point for gaming (instead of just a place to buy games and other shit) might have worked but I never saw any changes at all in that direction in any gamestops I visited. Just shelves full of products I only kinda want. And a lot of space dedicated to funkopops, which I don't understand why anyone wants. Does anyone even still want them at this point? I don't think I've every seen someone buying one.
He's right wing memeing to get another cash infusion from idiots. Solid strategy really for your average corporate sociopath.
Who the hell would be interested ?
For a good price, who wouldn't? That's a lot of real estate.
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,.
It has nothing to do with his being an abject failure as a CEO. Nope. Nothing at all.
A true believer was lost
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
-whispers into your ear-
You should sell.
I see you jack.
Where is the /s?
WHERE IS THE /S?
Taking the loss on GameStop is something you can take as a tax write-off for years (depending on the size of loss).
Wow, talk about sunk cost fallacy...
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.
i remember how the wsb sub was little thirsting for him.
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.