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GameStop appoints chief technology officer and two additional executive hires

news.gamestop.com

11–20 of 199 posts

Re: GameStop appoints chief technology officer and two additional executive hires

#11

I was wondering if GameStop would use their once in a lifetime overpriced valuation to raise money to invest in a game streaming platform (ie Netflix for games).

Unless they are issuing new stock, or selling stock that they hold, I don't really see how its valuation helps the company. Likely it's very good for their execs, though...

Re: GameStop appoints chief technology officer and two additional executive hires

#12
post #7

I was wondering if GameStop would use their once in a lifetime overpriced valuation to raise money to invest in a game streaming platform (ie Netflix for games).

Isn't current market already saturated and kind of underperforming commercially ?

Worse than, say, brick-and-mortar physical game retailers?

Re: GameStop appoints chief technology officer and two additional executive hires

#13
post #2

Is this the first actual corporate news from GameStop itself during the frenzy of the last several weeks? I'd love to have been a fly on the wall in one of their boardrooms during the maelstrom, when they were a front page story for basically every news site on the planet.

I mean they probably weren’t doing anything except rapidly trying to sell their stock options that had 100x’d. They more than anyone knew they weren’t worth $325 a piece.

Re: GameStop appoints chief technology officer and two additional executive hires

#14
post #2

Is this the first actual corporate news from GameStop itself during the frenzy of the last several weeks? I'd love to have been a fly on the wall in one of their boardrooms during the maelstrom, when they were a front page story for basically every news site on the planet.

[deleted]

Re: GameStop appoints chief technology officer and two additional executive hires

#15
post #11

I was wondering if GameStop would use their once in a lifetime overpriced valuation to raise money to invest in a game streaming platform (ie Netflix for games).

Unless they are issuing new stock, or selling stock that they hold, I don't really see how its valuation helps the company. Likely it's very good for their execs, though...

They can, in theory, borrow against the current value of the company. I'm not sure many banks are gonna want to trust that valuation, though.

Re: GameStop appoints chief technology officer and two additional executive hires

#17
post #2

Is this the first actual corporate news from GameStop itself during the frenzy of the last several weeks? I'd love to have been a fly on the wall in one of their boardrooms during the maelstrom, when they were a front page story for basically every news site on the planet.

I mean they probably weren’t doing anything except rapidly trying to sell their stock options that had 100x’d. They more than anyone knew they weren’t worth $325 a piece.

Sales from officers have to be scheduled in advance precisely to prevent that kind of behavior.

Re: GameStop appoints chief technology officer and two additional executive hires

#18
post #9

I was wondering if GameStop would use their once in a lifetime overpriced valuation to raise money to invest in a game streaming platform (ie Netflix for games).

They do (or did) own Spawn Labs, which was a cloud streaming device for game consoles around 2010-2014. It no longer exists, but they likely still retain IP in this realm.

It seems to me all the streaming gaming services so far have been a flop. In order for it to work, we need really high bandwidth, reliable internet connections and low latency. The technology maybe isn't quite ready still, because we haven't really been focused on the reliability of internet connections and wifi, just more peak download speed. Streaming gaming sounds sexy, but IMO, it's probably bound to keep being a flop for the next 5-10 years. Not something I would invest in.

Re: GameStop appoints chief technology officer and two additional executive hires

#20
post #12
post #7

Earlier quoted context omitted.

Isn't current market already saturated and kind of underperforming commercially ?

Worse than, say, brick-and-mortar physical game retailers?

Jumping from frying pan to fire is now a good business strategy?
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