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GameStop appoints chief technology officer and two additional executive hires

news.gamestop.com

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

#41

Post by rsstack »

volta83 wrote: post #35
theorymeltfool wrote: post #23

I'm curious if the HFs that shorted Gamestop, are also profiting off of the wild swings by Redditors who have now lost hundreds of thousands of dollars. They could easily swing-trade this stock all the way down, using massive buy/sell orders to drive the price. If Melvin Capital isn't bankrupt after all of this, there might just be A LOT of broke redditors who cashed in their lifesavings on this gamble.

I see often stated as a fact that "a lot of retail investors from WSB bough a lot of GME shares", but I never see any proof about any of this. What's the proof that any retail investor actually bought GME? How many retail investors actually bought GME? How much money did they win or loose?

It's a public community. Did you open it even once? People (yes, people other than the one guy who started it) post screenshots from their investment accounts.

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

#42

Post by ctvo »

> Mr. Francis brings more than two decades of experience in e-commerce and consumer technology to GameStop. Most recently, he was an Engineering Leader at Amazon Web Services.

Checking LinkedIn Mr. Francis was at AWS for ~1 year working on DocumentDB, the MongoDB compatibility layer.

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

#43

Post by throwaway4good »

throwaway4good wrote: post #38

First order of business for their new CTO - fix the website: Access Denied You don't have permission to access "http://www.gamestop.com/" on this server. Reference #18.8ba72917.1612368077.10f974bd

This is from accessing https://gamestop.com right now ...

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

#44

Post by A12-B »

criddell wrote: post #26

What is GameStop going to be five years from now when digital distribution is the only way video games are sold? I can't imagine selling game-related tchotchkes is a very good business. What else is there?

Believe it or not, plenty of people (~40%) still buy physical copies. I don't expect it to go down to 0 in just 5 years.

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

#45

Post by mrzimmerman »

volta83 wrote: post #35
theorymeltfool wrote: post #23

I'm curious if the HFs that shorted Gamestop, are also profiting off of the wild swings by Redditors who have now lost hundreds of thousands of dollars. They could easily swing-trade this stock all the way down, using massive buy/sell orders to drive the price. If Melvin Capital isn't bankrupt after all of this, there might just be A LOT of broke redditors who cashed in their lifesavings on this gamble.

I see often stated as a fact that "a lot of retail investors from WSB bough a lot of GME shares", but I never see any proof about any of this. What's the proof that any retail investor actually bought GME? How many retail investors actually bought GME? How much money did they win or loose?

There has been a lot of posts on WSB of screenshots showing people have made purchases, some having spent tens of thousands of dollars.

Is that proof enough? that's up to you, but I doubt most people have seen "proof" that hedgefunds have been buying up shorts either, we just trust that we aren't being lied to by whoever is doing the reporting (and I personally find that to be plenty sufficient).

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

#46

Post by musingsole »

Corrado wrote: post #37

I was thinking recently about how GameStop might pivot. They have retail locations, which a lot of companies don't, so they should take advantage of that. Some examples I have thought of include: * put 3D printers in the stores and sell custom objects based off of your gamer profile. * convert the stores into a gamer bar and show eSports tournaments. * host LAN parties or move into tabletop games

Your 1st and 3rd idea, maybe, but they'd be moving into a territory filled with competitors. It's hard to imagine my local tabletop tavern crowd migrating to a corporate equivalent.

Gamestop pivoting to a gamer bar seems incredibly unlikely. Retail is not restaurants -- the business logic is all sorts of different -- and likely zoning issues would prevent many locations from suddenly becoming restaurants.

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

#47

Post by piquadrat »

volta83 wrote: post #35
theorymeltfool wrote: post #23

I'm curious if the HFs that shorted Gamestop, are also profiting off of the wild swings by Redditors who have now lost hundreds of thousands of dollars. They could easily swing-trade this stock all the way down, using massive buy/sell orders to drive the price. If Melvin Capital isn't bankrupt after all of this, there might just be A LOT of broke redditors who cashed in their lifesavings on this gamble.

I see often stated as a fact that "a lot of retail investors from WSB bough a lot of GME shares", but I never see any proof about any of this. What's the proof that any retail investor actually bought GME? How many retail investors actually bought GME? How much money did they win or loose?

The fact that Robinhood had to emergency-raise $3billion to be able to put up the collateral with their clearing houses should be enough indication that a lot of retail traders were engaged in these highly volatile stocks.

See e.g. https://fortune.com/2021/02/02/robinhood-gamestop-restricted...

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

#48

Post by RivieraKid »

theorymeltfool wrote: post #23

I'm curious if the HFs that shorted Gamestop, are also profiting off of the wild swings by Redditors who have now lost hundreds of thousands of dollars. They could easily swing-trade this stock all the way down, using massive buy/sell orders to drive the price. If Melvin Capital isn't bankrupt after all of this, there might just be A LOT of broke redditors who cashed in their lifesavings on this gamble.

> They could easily swing-trade this stock all the way down, using massive buy/sell orders to drive the price.

I call BS. Selling a huge amount of shares and then buying them again will not generate a profit.

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

#49

Post by giarc »

Corrado wrote: post #37

I was thinking recently about how GameStop might pivot. They have retail locations, which a lot of companies don't, so they should take advantage of that. Some examples I have thought of include: * put 3D printers in the stores and sell custom objects based off of your gamer profile. * convert the stores into a gamer bar and show eSports tournaments. * host LAN parties or move into tabletop games

I'm not into the gaming community but I suspect there's a big contigent in the pre-teen/teen age range. GameStop could pivot into a local gaming/community place safe for pre-teens and teens that is semi-supervised. Parents could feel more comfortable knowing their kid is hanging out at a place where there is at least one adult to make sure they aren't doing bad things.

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

#50

Post by RivieraKid »

criddell wrote: post #26

What is GameStop going to be five years from now when digital distribution is the only way video games are sold? I can't imagine selling game-related tchotchkes is a very good business. What else is there?

Their main product will be the stock, whose ownership will be marketed as a way to punish and send a message to the Wall Street. There's massive demand for a "hurt the establishment" product.
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