That's quite a significant revenue drop right here. Something tells me the trend will persist in the future.
Damn, I forgot to short this one through earnings. I can't imagine this company being open too long in the future. Everyone is buying their games digitally now.
I guess you should when the time is right. I'm not not sold on the idea that VR will save Gamestop somehow so I agree that we're probably gonna see slow decline of the company.
It's funny that this sales warning is a revelation to anyone. Who is this clueluess in 2016? GME does pay a dividend, looks like a 6.3% yield right now.
Reported after close today (11/22/16) Earnings: EPS $0.49 Revenue $1.96B Estimates: EPS $0.47 Revenue $1.99B Up 2.45% after hours
Finished filling the gap ahead of earnings today, but as everyone knows who is familiar with this company, most people are just downloading their games now. I can't see how they have a bright future ahead of them. There will be resistance at the 50MA + previous support usually acts as resistance. Possibly a good shorting opportunity back down to $20.50ish...
As I posted above, I do not believe in the future of GME. I shorted this about a week ago when it beat earnings and gapped up. It has since dropped back to about where it was before earnings. Currently sitting on 2% profit and targeting low $20's for a decent swing. Right now it's trying to break below the 50MA and hold so it can push back down towards $20.
Im not sure anybody does, unless there is a dramatic shift in the business model. Who still buys their games in CD format?
Not me, my last 5 console games or so (which is all I've bought in the last 5 years) are all digital downloads. It's so much more convenient, and you don't have to worry about damage to the disk. You can always re-download. And everything on the computer you just get through steam now for the most part (or something similar).
Small up day for Gamestop, bad for my short position. Did not see any "positive" news, so it was probably just up because of the market: GameStop Corp.’s (GME) “Sell” Rating Reaffirmed at Benchmark Co. - Source: http://zolmax.com/investing/gamestop-corp-s-gme-sell-rating-reaffirmed-at-benchmark-co/1107896.html Vetr Inc. Downgrades GameStop Corp. (GME) to Sell - Source: https://www.com-unik.info/2016/12/05/vetr-inc-downgrades-gamestop-corp-gme-to-sell.html
The only time I think about buying physical games is when my console hard drive is full. Then again it's only true for something like Wii U since you still need to install the game if we're talking about PS4/XBONE.
Another positive day for GME unfortunately for me. Right back up to the level I bought it at. GameStop Corp. (GME) Coverage Initiated by Analysts at Loop Capital Source: https://baseballnewssource.com/mark...iated-by-analysts-at-loop-capital/268960.html
Well, it's turning out to be real hard to short anything in this market. I'm still a firm bear on this one though. I think a couple down days in the market will send this one back down where it belongs. If it breaks above the 200MA, I'll cut my losses and wait for another chance to get in, maybe when the market heads south. Until then, we hold and wait. GameStop Corp. (GME) Rating Lowered to Strong Sell at Vetr Inc. Source: https://baseballnewssource.com/mark...owered-to-strong-sell-at-vetr-inc/275511.html
Another good day for longs today (unfortunately). Approaching overbought levels though and resistance at the 200MA.
