- January 30th, 2021, 7:15 pm#4945310
Kingpin wrote: ↑January 30th, 2021, 5:47 pmGamestop has been in a tight, death spiral for quite a while mainly due to the convenience of digital game purchases and the ease of Amazon for other items. They've tried to sell themselves twice with no serious takers. They've been known to be a garbage company when it comes to their employees for years and somehow trying to pass themselves off as an essential business pissed off a LOT of people including a couple governors here in the tri-state area who forced them to close their doors (like... after MONTHS of still being open, but still). All of that said, Gamestop being at the center of this is AMAZING since, at the end of the day, no one really cares what happens to the company! If this ends up shutting down Gamestop, oh well. That was going to happen anyway. If it HELPS them, it'll only be short term at best.timeware wrote: ↑January 30th, 2021, 4:22 pmBesides were in the middle of a pandemic, people are playing games 24/7 so it would make sense that companies like Gamestop would be doing well at the moment.The impression I've gotten is that despite the generally-captive audience of people furloughed at home, GameStope wasn't faring well until those redditers stepped in.timeware wrote: ↑January 30th, 2021, 4:22 pmWhen you get a large group of people trying to get something to trend that's not a diffcult thing to accomplish with social media these days.They weren't trying to "get something to trend", they were exposing a bunch of people trying to short the company's stock price. The reason it trended was because a bunch of amateur investors ensured a bunch of Hedge Fund managers bit off more than they could chew thinking the underhanded gamble they were playing with GameStop was a sure thing.timeware wrote: ↑January 30th, 2021, 4:22 pmThink the big guys are getting scared of the little guys here? I'm not an expert in Math or trading. Outside looking in it seems like there's a push to squash this thing.It definitely looks like they're scared. A group of people were able to flex a financial muscle they don't get to use very often, and it cost some greedy bastards money.
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