UPDATE GameStop's stock closes today at $347.23 per share; up from under $4 last year

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GameStop, the world's biggest retail video game chain has had a wild and turbulent 12 months to say the least. As the video game market continues on its inevitable trek to becoming more and more of an entirely digital industry, GameStop has clearly been struggling to adjust to the changes. GameStop drama has been covered here on GBAtemp in the past, from its switch to focusing on merchandise and legacy games, to its decision to remain open following the COVID-19 pandemic, to its reversal of that decision. However, perhaps GameStop's craziest story has very little to do with the financial success of the company itself.

Prior to this month, GME (GameStop's stock ticker)'s 5 year high was approximately $33 in April of 2016. However, that figure drastically plunged down to under $4 in 2020. This month however, that figure has absolutely skyrocketed above anybody's expectations--closing out today (January 27th) at $347.23 a share. Many factors went into this large stock price; primarily a battle waging between investors of the /r/wallstreetbets subreddit and the short seller Melvin Capital. In essence, Melvin is betting that the stock price will fall below $60 by Friday, while hundreds of thousands of investors on /r/wallstreetbets have been rallying together to keep the price above $60 in hopes that it will skyrocket even further. Allegedly, "$1,000 GME by EoW is not a meme!"

Always remember to invest at your own risk, and know that nothing posted on GBAtemp or /r/wallstreetbets regarding this situation should be construed as financial advice.

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SG854

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Okay i may not know about stock for crap, but after reading the comments that make sense instead of implying that this was done maliciously, or it's stock manipulation(note: if they did that then they dumb as a sack of potatoes, but i don't think they would, i mean look at all the ps5 orders people tried to do around the release of it - gamestop site crashed down, and people wondered what was going on - now i do believe that might also be the main reason gamestop stock risin up as well) - i rather stick to the fact: i do believe that reggie did help out more then you all think, seriously the man did his job dang well in nintendo of america if you look at his history, he wasn't bad at all managing buisness, i am honestly surprised he got gamestop to fly to the moon lol. Yet glad he did, because yes gamestop has all butt f*cked us in some way - that doesn't erase the matter of it now being the only place to get gaming merch and games, to further add on: it's a place to actually feel that you know what's gonna happen xD.

Gamestop is like a cruddy home, but it's still good at doing what it can - i don't blame the employees that actually gave a darn dang for their job, and the store, although for those who sat there to complain like a bunch of hoe bags on twitter - joining with the cancel mob were being extremely stupid asf, because now these idiots are going around begging for a job around the time they bailed off gamestop - see the thing that people are *still* not noticing at all, - which baffles me at best here is that gamestop wasn't wrong in keeping open during 'covid' happenings, they were being smart, actually gave a dang for they're worker's - now you may want to know - how?? these bastards clearly just showed they don't care cause they made their employee work in such "bad" conditions. - sigh i agree that payment in gamestop is butt cheek, but the one thing that i saw, i assume other folks have noticed as well is that gamestop does care..- see the logical reason why they kept open around the 'covid' hysteria is because they *knew* about how people were quickly losing they're jobs, they knew that they're employees needed the money to pay their bills instead of being babied by they're governor like it happened unfortunately *smh* - anyway they took the risks because they wanted these ungrateful pack of people to have something to survive, because of how bad money was getting.

Yet it all was smacked across gamestop face because of cancel culture and whiners who don't notice things until late, now these imbeciles are going around jobless still complaining till this day -_- - and you want me or anyone else to feel bad for those(these) ungrateful/cancel culture people? nah fam i rather support gamestop choice, they were doing a smart thing - too bad nobody noticed it at all because they were to busy raging, and some of those ragers weren't even gamestop customers from what i saw through out the mess rather woke people lol. I was so confused on what the living heck were they even doing, i swear xD.

- Yes, i know the counter response to what i am stating is that gamestop could have paid them while their employees were at home, --see they were going to do that or gonna do it but since - again people start to become like savages, didn't think at all just quit the jobs - it..never happened, even at that i believe these people would have been fine to come to work for those who were healthy, and not have screw up health conditions that well are weak around the 'covid' thing. - yes, hi i am one of those awake weirdos, here me...idk push a button f*ck am i supposed to type here?

Finally, i do hope gamestop continues to actually improve and continue to live on because my bum arse don't got no gaming store near me anymore, if you haven't realized those small buisness or if they were big? left, they shut there stores down permanently, the other alternative to gamestop, however, i get the strong sense people will shift it to 'online shopping' unless you live in actual house not apartment go right ahead, yet ya still gonna get mugged lmao especially around this year...annnd the factor of getting screwed over online, not knowing if the item is any good, cause some people do not trust online reviewers even at best - it just, online shopping has a real stinky list. - i rather shop for real not digitally, it takes the fun out of things. - like seeing funny things happened in the store lmao..okay i stop now.

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f*ck man this is why you should never make a reply or be online when you half awake bro i made error on my sentences lmao sorry y'all.
Reggie coming in. Also Microsoft and big time investor made gamestop more valuable.
 

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Gamestop is probably good to invest for the long term. It could be at $150 per share for the next couple of years.

Ever since Ryan Cohen bringing executives from chewy to gamestop and there's been talks to getting into the online digital download side of things. Plus with Microsoft joining and seeing potential for gamestop to make a comeback.

Even if brick and motor stores are going away gamestop can have a good digital online presence that they are in the phase of transferring into right now.
 

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Bought 100 shares when it it about 3 bucks for the memes. Can finish the payments on my house way early. Thank you for the donation Melvin.
 
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Gamestop is probably good to invest for the long term. It could be at $150 per share for the next couple of years.

Ever since Ryan Cohen bringing executives from chewy to gamestop and there's been talks to getting into the online digital download side of things. Plus with Microsoft joining and seeing potential for gamestop to make a comeback.

Even if brick and motor stores are going away gamestop can have a good digital online presence that they are in the phase of transferring into right now.
I don't think this has anything to do with Gamestop. It's more like people (r/wallstreetbets) vs market analysts (Citron + Melvin). But again, this is from a stranger on the internet. I might be wrong.
 

SG854

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I don't think this has anything to do with Gamestop. It's more like people (r/wallstreetbets) vs market analysts (Citron + Melvin). But again, this is from a stranger on the internet. I might be wrong.
Im saying for long term not whats currently happening right now with short sellers loosing billions.
 

r5xscn

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Im saying for long term not whats currently happening right now with short sellers loosing billions.
Yeah, thats what I mean here. Sorry if I worded that wrong. The proposition of GME might look good because of the jump of the stock, but that does not change the fact that they are still a brick and mortar shop (plus an online shop that probably does not compete with big guys like Amazon). I know that physical games wont go anywhere soon, but online shops also offer physical products...

You see, even WSB hates GME in the past before this event, they even would say screw GME for giving 2 bucks for their used games.
 
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Xzi

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Gamestop is probably good to invest for the long term. It could be at $150 per share for the next couple of years.

Even if brick and motor stores are going away gamestop can have a good digital online presence that they are in the phase of transferring into right now.
If you already missed the train, I wouldn't risk jumping in on it now. Stock this volatile can lose value just as quickly as it was gained. They have too many competitors in the online retail space to remain profitable in the long-term, and their retail stores are gonna go the way of Blockbuster very soon. 99% of the current stock value is speculative and demand-driven.
 
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If you already missed the train, I wouldn't risk jumping in on it now. Stock this volatile can lose value just as quickly as it was gained. They have too many competitors in the online retail space to remain profitable in the long-term, and their retail stores are gonna go the way of Blockbuster very soon. 99% of the current stock value is speculative and demand-driven.
It's a risk for sure and a gamble. But Gamestop has some big players backing them Microsoft and Cohen.

I dont know if blockbuster had major movie studios backing them. They probably despised blockbuster especially since rental sales takes from vhs and DVD movie purchases. Same with music companies trying to shut down Napster and any online music sharing sites.

They didn't understand the change and the importance of online services. We are 7 years since blockbuster shut down and retailers now know the importance of online and know not to fight change learning the mistakes previous stores did and need to adapt and change to the online space, so I suspect gamestop is more willing to adapt compared to blockbuster which didn't and failed because of it.

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/r/wallstreetbets moved to private by the moderators, looks like discussion has moved to /r/wallstreetbets2 and /r/deepfuckingvalue

WSB discord shut down due to "hateful and discriminatory content" https://www.msn.com/en-us/news/tech...ateful-and-discriminatory-content/ar-BB1d9z5c
Yeah they been blaming regular people every since this happened. They just don't want to loose billions again lol.
 
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SG854

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Yeah, thats what I mean here. Sorry if I worded that wrong. The proposition of GME might look good because of the jump of the stock, but that does not change the fact that they are still a brick and mortar shop (plus an online shop that probably does not compete with big guys like Amazon). I know that physical games wont go anywhere soon, but online shops also offer physical products...

You see, even WSB hates GME in the past before this event, they even would say screw GME for giving 2 bucks for their used games.
Im not looking at the huge spike in stock right now. Im looking at the people and companies joining to save gamestop. Reggie from Nintendo, Microsoft and Cohen. Im seeing the adapting they are doing to go to the online space. Plus I can see they will be extremely competitive to Amazon or other services. Amazon is too big and powerful since you can get everything on Amazon so I can see why Amazon is having a huge presence. But gamestop has Microsoft one of the richest companies out there.
 
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This isn't the end for us

Yeah I don't think it is. But that doesn't stop me from being concerned lol, I've got a non-insignificant amount into GME right now and it's getting closer and closer to crossing under my break even point. Nothing that'd put me out on the street, I know what my acceptable risk is, but

tenor.gif


Nonetheless, just gotta wait until tomorrow and see how it goes. If the sub gets cleaned up and reopened tonight I imagine it'll bounce back up again. I just want some fucking tendies god damnit.
 

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It's a risk for sure and a gamble.
As is playing the stock market in general, but the golden rule remains the same: buy low, sell high. There are still a lot of other stocks which took a plunge due to COVID, and remain undervalued now because of it. As @mat128 pointed out, AMC stock is probably a good buy right now, because even if it doesn't see this kind of crazy demand, it'll rebound naturally as the vaccine rollout progresses.
 

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As is playing the stock market in general, but the golden rule remains the same: buy low, sell high. There are still a lot of other stocks which took a plunge due to COVID, and remain undervalued now because of it. As @mat128 pointed out, AMC stock is probably a good buy right now, because even if it doesn't see this kind of crazy demand, it'll rebound naturally as the vaccine rollout progresses.
I meant buying gamestop stock when it drops down.

Ya I might get some AMC stock.
 
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Im not looking at the huge spike in stock right now. Im looking at the people and companies joining to save gamestop. Reggie from Nintendo, Microsoft and Cohen. Im seeing the adapting they are doing to go to the online space. Plus I can see they will be extremely competitive to Amazon or other services. Amazon is too big and powerful since you can get everything on Amazon so I can see why Amazon is having a huge presence. But gamestop has Microsoft one of the richest companies out there.

Yeah, Reggie + MS + Cohen might make GME more interesting, but unless they are creating something like Epic/Steam with access to physical product and available on all consoles and PC, I don't see any potential in it outside "nostalgia". I do hope GME achieve that tho because that would bring a serious competition to the market.
 

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Ya I might get some AMC stock.

AMC is another intriguing stock to me given all of the talk around it, the potential of it being "the next GME" or something along those lines. I got a solid few shares at a pretty low price yesterday, if I wasn't so tied up with GME I'd probably be grabbing more but I'm just gonna ride this train for now and see where it takes me. It's 100% within acceptable losses territory for me if it nosedives so personally no concerns there.

Not financial advice, etc, I'm only mildly more intelligent than an ape with a cell phone so you shouldn't take anything I'm saying as a recommendation, etc etc etc.
 
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