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 bought a share at $350. Still holding. Tbh it’s just not worth the effort of resetting my Robinhood password to sell it.
Even if it’s not worth it to you personally, it’s still a good deed to sell stock in a company when their CEO does something like this. Every sell sends a small message.
I assumed it’d be good for them in some way if I sold (I don’t understand stocks). If it sucks for them even a little I’m selling.
You’re just selling to some roaringkitty fanboy the actual company couldn’t care less. If you’re in a 350 you may as well hold it on the off chance something weird happens and you could break even.
Or, you can sell at a loss for the tax benefit, but that only applies if you have capital gains to use it against. So if you find one year you make some money off some other stock that would be a good time to sell the GME at a loss.
I agree that selling a $100 stock doesn’t hurt the company $100 – but it does hurt them some amount between $0 and $100 which I don’t feel qualified to calculate. The ultimate reason that stocks go down is because people sell.
After the stock is sold by the company it’s completely disconnected. No money to or from the company, no message sent. The only way it’ll hurt them is if they try another offering where they sell new shares and the stock price is low, which will be announced beforehand. Or if they want to buy them back, which probably won’t happen.
Keep the shares or sell them. GS won’t care.
I agree they won’t care about 1 stock, but the board absolutely cares if many people start selling below what they believe to be market value
A sell doesn’t happen without a buyer on the other end. It’s a wash when it comes to messaging.
it’s not a wash, because you sell for a different price than you bought at.
I’m not saying it’s a wash in terms of price. Instead, I’m saying it doesn’t send a message through some tally of sells for the day, because buys and sells are at a 1:1 ratio.
… and I’m out of this thing now too. Glad I caught this post.
I sold all mine the second he started tweeting about trump. Good riddance.
Are redditors still diamond hands on gme?
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.
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
I see you jack.
Jack: This is GE!
Banks: It’s just G now, Jack. I sold the E. To Samsung. They’re Samesung now.
God, where’s the 30rock Lemmy?
-whispers into your ear-
You should sell.
I think people underestimate the mental health benefits of never thinking about whether number you can’t control or predict go up or down.
Yup. I buy broad index funds, and the only time I need to think about it is when I do my taxes. I check more often, but more out of curiosity than anything (I like seeing line go up).
I already said it but my investment is less than it’s worth and I really don’t care about it… if it does go back up a lot I would rather have it and be able to sell then do another Bitcoin situation
Where is the /s?
WHERE IS THE /S?
It’s really greentext
It’s not I assure you… I paid like 50 bucks for the Bitcoin I think maybe 100 at most… I had it for a while… I don’t care about the money it’s mostly written off I just let it sit at this point because you can’t time the market or something
It’s more a commentary on your writing style, but the potential for satireality is written all over it.
<be me
<sell off all my Bitcoin
<put it all into GME stock right when it was starting to go up
<because why not right?
<1000 bucks or something
<because everyone said the bitcoin bubble was going to pop or something
<bitcoin goes from 30k to 60k in like two months
<now it’s closer to 100kLong 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
I blame the lack of attention, and focus… But I guess your right…
Taking the loss on GameStop is something you can take as a tax write-off for years (depending on the size of loss).
just for it to double or triple again
Wow, talk about sunk cost fallacy…
Nah my initial investment wasn’t nearly as much in Bitcoin…
The amount of the investment is irrelevant, what’s important is the expected future return. Do you expect GME to increase faster than other options in some time frame? If not, sell it and invest in something with a higher expected return. Likewise for Bitcoin.
Whether something is currently up or down is irrelevant, as is the amount of your investment. The only relevant detail is the expected return and risk (variation) in the investment. Anything else is just gambling.
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.
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.
after all that effort from the WSB community to save the company.
Honestly as a dumbass still holding worthless empty bags labeled GME, I hate Ryan Cohen almost as much as I hate Musk.
Damn dude, diamond hands or broken hands?
I was locked into FOMO and sunk cost fallacy, I’m now trying to get these scumbags at Computershare to give me my shares back so I can sell them.
Man, that really sucks. I’m sorry to hear that. I had it happen to me once with $SLV.
Yeah let me know if you ever figure that out :\
Oof, you went full DRS. Not judging, I probably would’ve sone the same if I got in late.
Yeah, it’s a embarrassment I have to live with forever. The person who got me and my friends into it doesn’t talk to my group anymore and I think it’s out of shame. I, in turn, feel shame not only for my part in participation in the market, but for convincing others to buy shares as well.
Fucking thing sucks, I want my money back Ryan, you cock.
TBF it was a good idea to buy, just required the caveat that you should’ve sold in January. I somehow timed my exit well, then proceeded to plough a stupid amount into another meme srock which now sits at -48k, a good reminder that gambling is for idiots. Like me.
I just wish I was paying attention the day it climbed back up to 60$, I would have sold for a small profit in a hurry…
The stock price is not declining, and is up for the year. What’s the problem?
It’s a bad sign that you know the CEO’s name.
You didn’t answer my question, just downvoted. Are you retarded? You’d have to be to leave that comment in reply to mine on this thread.
You’re on a first name basis, even a parasocial relationship with the CEO of Gamestop despite never having met him. Who here is intellectually deficient?
God damn. That’s honestly one of the dumbest fucking takes I’ve seen, and we’re living in Trump 2.0. You’re impressively unintelligent.
Says the guy who’s passionate and on a first name basis with the CEO of a game store chain.
Oh. OH! I’m taking the bait. Bravo. I still think you’re retarded for being a troll on the Internet when there’s so much else you could be doing, but good job rustling my jimmies.
All I did was point out your weird parasocial relationship with a CEO of a game store company. It’s very strange how you reacted to that. You must realize just how weird it is, how empty your life is. Get help dude.
Are you retarded? Honestly I don’t even want to expand on that, are you retarded??
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.
But the instance dedicated to a death-grip on this one stock said it was the future!
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.
Theyre also going against small gaming hobby stores which while not everywhere they can offer secondary services not reliant on reselling games multiple times. Such as offering LAN parties for old games, table top games, or even movie nights. These are just things I know the shop one of my kin in Arkansas goes to does.
they’re claiming 4 billion cash on hand
If that’s a lie then they will get absolutely wrecked by the authorities since they’re a publicly traded company.
Yeah, about the ”authorities”….
Publicly traded companies misrepresenting their finances, especially to this claimed extent, are not tolerated and are dealt with harshly.
Over 4 billion cash is shown on the balance sheets on their latest filings too
My local stores sell steam games and PC parts, I don’t think you understand the business model… When was the last time you visited a store?
Not to mention now they’re doing pokemon tcg, that just prints money.
Oh yeah the trading card business too, plus all the homewares now. Currently eating dumplings out of a pokemon licenced bowl manufactured by gamestop
Good luck man. What happened last time they got a huge influx of cash from retail traders? From what I read they wasted it in NFTs.
Now they’re wasting it on trading cards. The company is floundering. Surviving purely from generational nostalgia at this point. When that runs out the rug will be pulled.
They never bought NFTs, they built a website for trading NFTs. Very minimal expense that’s already written off as it got banned by the US govt
Now they’re wasting it on trading cards.
I think you might need to do a bit of reading and research about the Pokemon TCG market. They should be pouring as much money as they can into it. With their brand name and reach they should be able to get a lot of stock from suppliers, and it can make them massive, massive profit. Pokemon TCG is the hottest product on the market, with new stuff selling for 4x RRP on day 1.
What do you mean unproven social media claims? the $4 billion in cash is in their quarterly earnings: https://gamestop.gcs-web.com/static-files/2c1eac18-9f79-41b9-9e56-a8db8fe7aac4
Pretty easy to verify yourself.
That would be a valid assessment if the stock price had jumped after the quarterly earnings.
Their stock price jumped before the quarterly earnings was announced. It has nothing to do with it, nor any of their fundamentals
Also notice:
Cash flow is neutral or negative and has been for a while now. Revenue peaked in 2018 is now less than 62% of that peak. Revenue per quarter is also down 11% year over year.Company lost 34 million dollars last quarter, and has not had a positive operating income since feb 2018. https://www.msn.com/en-ca/money/watchlist?tab=Related&id=a1tyxm&duration=1Y&src=b_fingraph&relatedQuoteId=a1tyxm&relatedSource=MlAl&l3=L3_Financials
Even if they continue loosing $34-million each quarter, it will take over 33 years to go bankrupt with the current $4.6-billion cash on hand.
Seriously though, I see that earnings per share was positive for 2024. How is that possible if revenue has been negative since 2018?
Because the share price jumped up so much last year to give them that cash on hand.
Also the $34 million loss is their best result since feb 2018, most of their losses have been 10x higher. Although it does look like a long term trend into the positive cash flow. Also the CEO is mentioning a stock dividend now, so that takes care of the cash on hand.
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?
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.
Dump the stonks!
It has nothing to do with his being an abject failure as a CEO. Nope. Nothing at all.
His company is alive thanks to a meme. Get fucked, CEO
He just needs to stop, Trumps bro-circle jerk is already full.
A true believer was lost
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.
DEI is some zealous American Puritanism which has no relevance in France, so I’m confused how he made the connection?
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.
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 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
