this post was submitted on 19 Feb 2025
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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.
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.
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?