Gme

[Gulo Blue]

it's starting to be accepted more widely as a medium of exchange by legitimate businesses.

They've been saying that since it was $3 or $4 a transaction and the Microsoft Store accepted it. And doing what other currency does is fine, but what does it do that's worth $80?

 

[Michchamp]

they thought GME was dead... but no.

 

[Michchamp]

Like a horror movie

 

[Gulo Blue]

Like a horror movie

I saw speculation that while retail buyers were making noise, all the movement was largely driven Wall St. forces selectively following their lead or going the other way as they saw fit. Like the retailers discovered something, but Wall St. actually took advantage of it. And now, conditions haven't changed, so they did it again. Take with a gain of salt. Just an anonymous post.

 

[Spartanmack]

they thought GME was dead... but no.

hard to keep a good stock down...

 

[Spartanmack]

They've been saying that since it was $3 or $4 a transaction and the Microsoft Store accepted it. And doing what other currency does is fine, but what does it do that's worth $80?

you can't put a price on freedom? I don't know.

 

[Spartanmack]

I saw speculation that while retail buyers were making noise, all the movement was largely driven Wall St. forces selectively following their lead or going the other way as they saw fit. Like the retailers discovered something, but Wall St. actually took advantage of it. And now, conditions haven't changed, so they did it again. Take with a gain of salt. Just an anonymous post.

There definitely have been cases where hedge funds and even sell side institutional traders have piled on to short squeezes. I can't think of any in particular but they do it. It's a dangerous game though, especially with a company like GME with such a challenged business model - the company loses $4/share with no real prospects for turning that around. Gamers on here may know better but I don't see how they grow revenue as gaming moves more and more online. They have a bunch of brick and mortar stores selling things nobody wants.

 

[Gulo Blue]

There definitely have been cases where hedge funds and even sell side institutional traders have piled on to short squeezes. I can't think of any in particular but they do it. It's a dangerous game though, especially with a company like GME with such a challenged business model - the company loses $4/share with no real prospects for turning that around. Gamers on here may know better but I don't see how they grow revenue as gaming moves more and more online. They have a bunch of brick and mortar stores selling things nobody wants.

Specialty retail is tough enough without the main product going digital. The one thing they can do that digital doesn't is resell used games.

I wonder if they could sell a subscription like Blockbuster tried in their final years, subscribe and check out 1 or 2 discs at a time, exchange whenever you want.

I think companies like Etsy are killing it with non-licensed video game related crafts. I wonder how that's legal and if there could be a way to brick and mortar some component of that. Probably not.

 

[Spartanmack]

Specialty retail is tough enough without the main product going digital. The one thing they can do that digital doesn't is resell used games.

I wonder if they could sell a subscription like Blockbuster tried in their final years, subscribe and check out 1 or 2 discs at a time, exchange whenever you want.

I think companies like Etsy are killing it with non-licensed video game related crafts. I wonder how that's legal and if there could be a way to brick and mortar some component of that. Probably not.

Isn't Etsy like Ebay - a marketplace where buyers and sellers come together? Maybe GME does that but my understanding is they buy and maintain an inventory of used games, consoles and accessories as opposed to being a marketplace that just charges a transaction fee.

Either way, it's hard to see how they can copy that model and be profitable as a one-trick pony (video games) even as a subscription based service (the Netflix of video games), especially if console disc/cartridge gaming is a shrinking market. If the puts weren't so rich, I'd be buying them because I don't see how they ever justify this valuation.

Edit: today's closing market for at the money puts ($106 strike, stock closed $106.75) expiring tomorrow were $18.50/$20.00

 

[Gulo Blue]

Isn't Etsy like Ebay - a marketplace where buyers and sellers come together? Maybe GME does that but my understanding is they buy and maintain an inventory of used games, consoles and accessories as opposed to being a marketplace that just charges a transaction fee.

Either way, it's hard to see how they can copy that model and be profitable as a one-trick pony (video games) even as a subscription based service (the Netflix of video games), especially if console disc/cartridge gaming is a shrinking market. If the puts weren't so rich, I'd be buying them because I don't see how they ever justify this valuation.

Esty is Ebay with set prices instead of bidding and homemade crafts rather than used goods.

Gamestop has already tried branching into selling game related stuff, like toys.

If there was a way to handle mass consignment, all the shipping, all the price estimating - I think the market would be there for it. People geek out and pay lots for video game or sci fi related crafts.

https://www.etsy.com/search?q=mario&min=100

 

[Gulo Blue]

Maybe they should try selling vinyl records.

 

[Spartanmack]

Esty is Ebay with set prices instead of bidding and homemade crafts rather than used goods.

Gamestop has already tried branching into selling game related stuff, like toys.

If there was a way to handle mass consignment, all the shipping, all the price estimating - I think the market would be there for it. People geek out and pay lots for video game or sci fi related crafts.

https://www.etsy.com/search?q=mario&min=100

maybe it could be profitable, I have no idea. But at $106.75, GME's market cap is 7.5B, 1/4 of Etsy's and Etsy is a broad based marketplace including GME's space. GME is a 1 trick pony. Still seems like a short up here.

 

[Gulo Blue]

I'm not sure how there isn't a copyright issue here.
https://www.etsy.com/search?q=star_wars&min=1000

 

[Spartanmack]

GME trading at $240+ today - 6x the February lows roughly 12x 2020 closing price but not as much as the 13.8x for AMC year-to-date.

 

[Michchamp]

I'm not sure how there isn't a copyright issue here.
https://www.etsy.com/search?q=star_wars&min=1000

there is. and a trademark issue.

the "platforms" like amazon (and I guess etsy) take the position that they're only a venue for the seller and the buyer to independently conduct the transaction, and if Disney (in this case) wanted to go after them for selling this merchandise, they need to sue the sellers individually... which would both alienate their fans, and be legally pointless most of the time, since the cost of the filing and prosecuting an IP lawsuit is probably more than Disney could recoup from the avg. seller in damages. being too poor to be sued is a great legal strategy.

Amazon's argument would have merit if it wasn't for the fact that they absolutely do more here than provide a platform, and the fact that you can go on their site and enter a trademarked name and get product results that are counterfeit or unlicensed is pretty damning. Amazon basically is a big enough whale that it can do (and let it's "independent" sellers do) whatever they want... as far as I recall (i have read a couple cases on this and related topics) they've been pretty successful getting judges to see things their way, and when rulings in a case start to go against them, they settle to avoid setting bad precedent.

ebay is a little different, since their sellers are ostensibly selling used goods, and the first sale doctrine allows anyone to re-sell something they bought legally (you can't call it "new" though).

short answer: lots of bad/openly illegal, or fraudulent shit happens all the time, and no one cares or does anything about it, because it's too much trouble, and the people doing it are either too rich or not rich enough to sue.