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Title: Gamestop explaiined Post by: PirateVOL on January 29, 2021, 11:51:48 EST https://twitter.com/i/status/1355286435272609793 (https://twitter.com/i/status/1355286435272609793)
Title: Re: Gamestop explaiined Post by: BanditVol on January 30, 2021, 10:44:00 EST Funny!
Gamestop has been one of the most shorted stocks like forever. Wall Street, which doesn't have a lot of gamers, apparently, decided long ago that Gamestop was "the next Blockbuster". That is, that it would go broke as gamers moved to "all electronic download" purchasing. They missed several things. First, most gamers (though this may finally be changing) like having physical copies of the games, especially if it includes a lot extras, and they can trade them back to Gamestop for a credit when they are done (even though it's kind of a rip off, they still get SOMETHING). Also, they like the experience of going to a physical store and browsing, many older gamers did this all through childhood and if nothing else are nostalgic for it. So in reality, it's nothing at all like Blockbuster, which went under in 2009. Over ten years later, Wall Street is still really stupid about this. I actually bought and held Gamestop for over a year and occasionally added to it in 2012-2013, made a nice 60-70% profit on it then moved on to other investments. I think this is amazing what the Reddit guys did, and I hope the people that shut it down get nailed. Not holding my breath on that one, but at least right and left politicians are saying something should be done about it. |