GameStop selling 500+ stores because of "woke" - Hypertext
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GameStop CEO Ryan Cohen appears to blame inclusivity for the failure of his brick and mortar gaming outlets.
  • GameStop is hoping somebody will buy its Canadian and French operations.
  • This amounts to over 500 physical stores across both nations.
  • The company’s CEO decried “Liberalism, Socialism, Progressivism, Wokeness and DEI” within his firm while shopping for a buyer.
  • Doom@ttrpg.networkEnglish
    11·
    2 days ago

    But that’s not what we’re talking about. GameStop’s success has nothing to do with what I’m waiting for. The stock isn’t up because GameStop is a good company. In fact the opposite

    Watch the Big Short easiest way to really explain. The stock was worth $7 then $400 then stock split. If the split never happened the stock would be worth $100 and that isn’t because of the fundamental regular stock reasons it’s because the dying company didn’t die and now their valuation is fucked up.

    • ShepherdPie@midwest.socialEnglish
      1·
      2 days ago

      But at the end of the day, tricks and manipulation can only get you so far. When quarterly filings show poor performance and stores start shutting down, I don’t see how they (and by extension their share price) could possibly recover or increase. The issues they face aren’t some temporary storm they have to weather, it’s a permanent change in consumer’s buying habits and the market as a whole. Even outside of retail sales, the entire gaming industry has been in shambles for several years now with no change in sight.

      • Doom@ttrpg.networkEnglish
        1·
        2 days ago

        Again I 100% agree however…

        The dude who saw it at $7 and said it was gonna pop, doubled down after $400 and still believes it’ll pop again.

        He knew the first time, he’s smarter than me, he didn’t sell. I am still in the green by like more than double where I was at the start. I’m gonna continue with my gut and believe this dude knows something I don’t because so far he hasn’t made me think otherwise.

        Everything else literally anything else besides what I said in this post is noise to me you know?