GameStop stock ‘Burns to the Ground’ and Analysts Fear No Rebound (update 9/11: 200 stores closing)

[newarkhiphop]

(Bloomberg) -- GameStop Corp. shares plummeted the most on record to their lowest since 2003 after the video-game retailer reported first-quarter revenue that missed expectations and halted its dividend, the latest red flag for a stock that has already cratered in 2019.

More than just a bad print, analysts seemed to view the results as the worst kind of warning sign. Jefferies wrote that the company’s legacy retail model was “increasingly at odds” with how the gaming industry had evolved toward an online and digital focus, and that it “faces the need for a dramatic pivot, wholesale changes, and aggressive action to remain relevant.”

The stock dropped as much as 36% in its biggest one-day percentage loss since its listing in 2002, according to Bloomberg data. The stock has lost more than two-thirds of its value since a peak earlier this year.

Yahoo is now part of Oath

 

[Paper Boi]

i wonder how cheap they gonna unload their stock if they officially shut down.

 

[RAX 010]

 

[Fukwatutalkinwatisaylaw]

Too expensive fuk em until they have a Block Buster Toys R Us type of sell

 

[Why-Fi]

a video game retailer trying to cut the video games industry out of the deal. a time sensitive business model
their only hope now is to start generating their own content and go digital

 

[RARI_Godwind]

 

[ORDER_66]

RIP....

 

[Batsute]

a video game retailer trying to cut the video games industry out of the deal. a time sensitive business model
their only hope now is to start generating their own content and go digital

Too late investors ain’t about to wait 2-3 years for any type of development. Quickest way is to unload the fukkton of used games for some short term profit to buy them sometime.

They had a great opportunity to do some type of blue apron platform for retro games.

 

[Kaydigi]

If they had better deals regarding their used pricing, didn’t throw away ds cases, sell bootleg ds games, and didn’t sell open games as new, we would all still shop there.

RIP babbages, ebgames, funcoland, software etc...

 

[Egomaniacal1]

I said awhile back what they had to do....come up with a usb type platform to be the new physical media, then distribute everything, games, movies, music, etc...

It’s the only thing that can bridge the gap between physical and digital media and the group that comes up with it will control it and make a killing.

 

[The Intergalactic Koala]

Burn baby burn

 

[Kamikaze Revy]

Like the homie Usher told ya’ll.....
Let it buuurrrrrnnnnnnnnnnn

 

[Responsible Allen Iverson]

i wonder how cheap they gonna unload their stock if they officially shut down.

The stock would be worthless at that point

 

[The Intergalactic Koala]

The stock would be worthless at that point

Unless a billion dollar company invest in them to help them make better moves in this digital age, issa wrap

 

[Paper Boi]

The stock would be worthless at that point

yeah i meant their inventory in the stores when i said stock, not the stock market, my bad.


i'm tryna get those 75% of sales like when blockbuster went under.