Why is every CEO’s brain turning to sludge all of a sudden? I mean I get sucking on the toadstool of the king to ensure you get your share of the public coffers as they’re looted, but uh, this dude sells plastic toys and video games t-shirts for twice the price of everyone else.
And he wants to sell parts of his company which are in countries that aren’t absolute shitholes, and his sales pitch is that you get… free woke?
I think many CEOs are the peaked-in-high-school types but the business environment has kept them in check, until now. Now with MAGA unleashed, they feel free to show off their idiocy.
Their brains were already this sort of sludge. They never gave a bloody fuck about people, their shtick was always profits. But they were willing to pink-wash, black-wash, rainbow-wash their junk, as it was good advertisement.
Now that they feel like they have the back of some banana republic maize republic they’re going all out.
1- they were always like this but had advisors and people to speak for them
2- it’s now cool to be a fucking racist, so if you want to be in the Trump club you better get your racism on (see zuck). It’s very very lucrative right now to go along with it and you might be illegally shut down / removed if you dont.
Ya know, when the whole GME squeeze drama was going on, it was real tempting to ride the wave, but I always smelled a rat, and IMHO, their business model was mortally wounded once direct downloads became a viable means of purchase. Without games being reliant on physical media, inventory shrank, and it seemed like most of their floor space was more focused on selling FunCo figures than games.
It didn’t surprise me when Cohen started cutting jobs, and I honestly think that the stock has only been kept afloat by the Reddit Apemind and /r/wallstreetbets long past the squeeze has been squoze.
Blaming woke DEI is just a smokescreen and an excuse. Those stores were failing. All of Gamestop is failing, and Cohen’s looking to blame anyone but himself.
I would 100% agree on that but something that has kept me apathetic throughout the whole entire shebang was the guy who saw the squeeze when the stock was worth $7 bucks double downed after the squeeze which means he was confident in his analysis that it would be worth more.
Currently the stock would be worth like $80 right now presplit. I threw my first trump covid check into that and a few other stocks and that one has just sat. I’m still in the green now and I do think one day it could go critical again but not because of Cohen.
GameStop likely could have pivoted into something akin to the Steam storefront, or fully jumped into merch/apparel sales and become something like BoxLunch for licensed video game stuff. But instead, they clung to physical games for far too long, while only dipping their toes into merch sales. And now it’s likely too late for them to fully shift into merch sales, because competitors have already had a full decade to establish themselves.
They actually tried going into merch full bore, but somehow fucked it up by buying, then destroying ThinkGeek. It was an impressively fast decline too.
So fast that many people think they never actually intended to have it survive. They simply didn’t want to compete in the future, so they bought it before it was too big to compete with. But they had to reframe the massive purchase to shareholders as a potential profit-making venture, so they publicly stated that they were doing it to move into merch sales. And then they just nosedived it as soon as the purchase was complete, so they could shrug their shoulders and go “oops, well we tried!”
Gamestop was a much-lampooned company with awful practices and many a horror story from employees and customers alike. I found it gross that the internet would rally behind such a company and never understood the whole thing (aside from the people with neither shame nor ethics wanting to make a buck).
It wasnt really a rally around them but against shadow markets over leveraging themselves. It could have been any company, but the data available was GameStop related.
I think you’re sleeping on the nostalgia factor for a lot of old gamers who had enough cash for a bit of a “fuck you” purchase but not enough discipline to buy a rifle or enough education to know that Wall Street doesn’t lose money when you buy stocks.
Wall Street doesn’t lose money when you buy stocks.
Hedge funds lost a shitload though. Wallstreetbets basically engineered a short squeeze and a few hedge funds genuinely lost a ton of money covering shorts. Granted, a lot of those diamonds handers were left holding the bag, but the effect wasn’t insignificant.
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Haven’t stepped foot in one of these stores since I realized I was being scammed with console purchases constantly.
what the fuck? Gamestop is still around?
It was saved by people manipulating the stock market.
Still have a few shares from the old gamestop squeeze, said I’d keep them as a memory. Might not now.
Yeah, I had been holding on to one last one after selling the rest (I made a whopping $13 yaaaaaaaaay)
Selling that shit the moment I can get to my laptop.
Why is every CEO’s brain turning to sludge all of a sudden? I mean I get sucking on the toadstool of the king to ensure you get your share of the public coffers as they’re looted, but uh, this dude sells plastic toys and video games t-shirts for twice the price of everyone else.
And he wants to sell parts of his company which are in countries that aren’t absolute shitholes, and his sales pitch is that you get… free woke?
I think many CEOs are the peaked-in-high-school types but the business environment has kept them in check, until now. Now with MAGA unleashed, they feel free to show off their idiocy.
Their brains were already this sort of sludge. They never gave a bloody fuck about people, their shtick was always profits. But they were willing to pink-wash, black-wash, rainbow-wash their junk, as it was good advertisement.
Now that they feel like they have the back of some
banana republicmaize republic they’re going all out.Because
1- they were always like this but had advisors and people to speak for them 2- it’s now cool to be a fucking racist, so if you want to be in the Trump club you better get your racism on (see zuck). It’s very very lucrative right now to go along with it and you might be illegally shut down / removed if you dont.
Wokeness and DEI? At GameStop? I’ve never even seen anyone other than high school aged white dudes working there.
Another CEO joins the line to kiss Trump’s ring
He diluted the shareholder last spring, should have know that he ain’t friend of retail invetor right then and there.
Ya know, when the whole GME squeeze drama was going on, it was real tempting to ride the wave, but I always smelled a rat, and IMHO, their business model was mortally wounded once direct downloads became a viable means of purchase. Without games being reliant on physical media, inventory shrank, and it seemed like most of their floor space was more focused on selling FunCo figures than games.
It didn’t surprise me when Cohen started cutting jobs, and I honestly think that the stock has only been kept afloat by the Reddit Apemind and /r/wallstreetbets long past the squeeze has been squoze.
Blaming woke DEI is just a smokescreen and an excuse. Those stores were failing. All of Gamestop is failing, and Cohen’s looking to blame anyone but himself.
I would 100% agree on that but something that has kept me apathetic throughout the whole entire shebang was the guy who saw the squeeze when the stock was worth $7 bucks double downed after the squeeze which means he was confident in his analysis that it would be worth more.
Currently the stock would be worth like $80 right now presplit. I threw my first trump covid check into that and a few other stocks and that one has just sat. I’m still in the green now and I do think one day it could go critical again but not because of Cohen.
GameStop likely could have pivoted into something akin to the Steam storefront, or fully jumped into merch/apparel sales and become something like BoxLunch for licensed video game stuff. But instead, they clung to physical games for far too long, while only dipping their toes into merch sales. And now it’s likely too late for them to fully shift into merch sales, because competitors have already had a full decade to establish themselves.
I wish physical PC games were still a thing. Not all of us have good internet.
Sadly even an offline game in a lot of cases is unplayable without gigs of updates these days.
Yeah, sigh…
They actually tried going into merch full bore, but somehow fucked it up by buying, then destroying ThinkGeek. It was an impressively fast decline too.
So fast that many people think they never actually intended to have it survive. They simply didn’t want to compete in the future, so they bought it before it was too big to compete with. But they had to reframe the massive purchase to shareholders as a potential profit-making venture, so they publicly stated that they were doing it to move into merch sales. And then they just nosedived it as soon as the purchase was complete, so they could shrug their shoulders and go “oops, well we tried!”
Gamestop was a much-lampooned company with awful practices and many a horror story from employees and customers alike. I found it gross that the internet would rally behind such a company and never understood the whole thing (aside from the people with neither shame nor ethics wanting to make a buck).
It wasnt really a rally around them but against shadow markets over leveraging themselves. It could have been any company, but the data available was GameStop related.
I think you’re sleeping on the nostalgia factor for a lot of old gamers who had enough cash for a bit of a “fuck you” purchase but not enough discipline to buy a rifle or enough education to know that Wall Street doesn’t lose money when you buy stocks.
Hedge funds lost a shitload though. Wallstreetbets basically engineered a short squeeze and a few hedge funds genuinely lost a ton of money covering shorts. Granted, a lot of those diamonds handers were left holding the bag, but the effect wasn’t insignificant.
https://www.businessinsider.com/rentech-simons-gamestop-meme-stock-price-nvidia-tesla-amc-portfolio-2024-5
Some hedge funds lost money.
Others were the ones manipulating the market in the first place.
Ha you could be right. I don’t live in the states didn’t realize GameStop had nostalgia value.
Ryan Cohen is a chud???
Nooo wayy broooo who could have seen this coming???
But the g*mers told me he cared about the little guy?!?
Strangest way I’ve ever heard of saying “Our Business Model Is Ass And Nobody Likes Us Anymore Because Of It!”
In all seriousness, people like them are about as bright as a broken bulb in a deep cave.
People will really blame a vague “liberal agenda” for anything , huh?
“My business model no longer makes sense in the current market? Nah, it must be wokeness.”
Please, let the door hit you on the way out.
Does anyone have a screen shot or photo of the tweet. He hasn’t posted anything since 2022.
Good, bring back a Canadian owned EB Games!
Should be turned into our own electronics store
billionaires gonna billionaire