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Gamestop's most recent 8-k filing - intent to issue a share dividend (Now confirmed on 7/6)
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the
Autocross Champion
Entire market is down, Amazon has lost literally 1 trillion in market value. TSLA is shitting the bed. Everything is eating big bags of dicks. My opinion on Gamestop hasn't changed. Should I lose in the end, you can all heckle me about it forever.
the
Autocross Champion
Eh well, I understand that point of view. If that comes true, I get to learn a lesson about the market for life. Gamestop has no debt, cash flow positive, doing new innovative shit with digital markets. There's no reason for the price to be what it is other than monkeybusiness.
Acadia18
Autocross Champion
uglybastard
Autocross Champion
I find that last post funny given your avatar
the
Autocross Champion
GameStop is up 51% this morning on news of profitable Q4 2022. Net income of 48 million, with 1.4 billion cash on hand.
Having a 48 million dollar profit means they had to overcome nearly 150 million in losses from last year. Do the math.
In other news, multiple banks with significant short positions on GME continue to fail.
Having a 48 million dollar profit means they had to overcome nearly 150 million in losses from last year. Do the math.
In other news, multiple banks with significant short positions on GME continue to fail.
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Acadia18
Autocross Champion
the
Autocross Champion
https://www.zacks.com/stock/news/20...te-stock_overview-zacks_news-ID01-txt-2075044
“This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.”
I’ll say it louder for the back of the room. GameStop went from negative EPS to positive EPS in one of the toughest bear markets to ever exist in the history of stocks. Banks fell, governments bent, and GameStop soared.
“This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.”
I’ll say it louder for the back of the room. GameStop went from negative EPS to positive EPS in one of the toughest bear markets to ever exist in the history of stocks. Banks fell, governments bent, and GameStop soared.
the
Autocross Champion
I am near 200 shares and I am within $5 of the current price, but it changes daily. For example the value today went up 5%. If I went over my options contracts with you for the past 2 years I imagine I would be about $3000.00 in the positive, but I don't bid on this as often as I should or used to. I'm not some super pro trader, I started during Covid and have made decent money on a few other weird one off companies such as NIO (bought at $18, sold at $55). Gamestop is still a great play, my opinion hasn't changed. If you guys don't understand why the price is as low as it is now, it's because the board of directors issued a stock dividend, which 4x'd your shares. Meaning if you had 20, you now have 80, the value of course was divided but remained the same over the total share count.
Not sure how much you pay attention to the economy either, but at least 3 more small banks started trending towards failure this week.
https://www.wsws.org/en/articles/2023/05/05/nrlb-m05.html Which, to be a conspiracy theorist, supports the same "conspiracy" that has been openly discussed regarding Gamestop since at least January of 2021.
In January 2021, GameStop's stock price skyrocketed. Investors noticed that several hedge funds had taken large short positions on GameStop's stock, betting the company would go bankrupt. The naked short theory posits that some financial institutions, including banks and hedge funds, were involved in naked short selling of GameStop shares. Again, the popular theory is these institutions doubled down after the surge to $400 in 2021, taking even riskier bets that Gamestop would fail.
Like I said before, Gamestop reported profits for Q4 of 2022 with a net income of 48 million, and 1.4 billion cash on hand. They started Q4 with somewhere around ~150 million in debt IIRC. This was during a really bad quarter for America, where the economy was suffering as a whole. For example, Amazon reported a net loss of 2.7 billion during the same quarter. It's safe to say Gamestop isn't going bankrupt... and while it's still only a coincidence that 7 or 8 banks have failed at this point, it's getting harder and harder to look away. Shares are $20, buy 5. Worse that could happen is you lose $100.
Lots of speculation now suggesting there will be a bailout, same as 2008.
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Acadia18
Autocross Champion
It's coming, it's coming! The squeeze is right around the corner!! Hedgies are just trying to get everyone scared so people sell!! Buy hodl drs!!!
the
Autocross Champion
snobrdrdan
former GTI owner
Just watched the movie "Dumb Money" (on Netflix) about the squeeze on the Gamestop stock.....pretty good & very interesting (I had no clue about all of that going down)
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