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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

#111

Post by decafninja »

cyberlurker wrote: post #74
decafninja wrote: post #62

Earlier quoted context omitted.

That sounds like the LAN Cafes (AKA "PC Bangs" in Korean) of old. They were at their peak pre-broadband, but as far as I can tell, have long since fallen out of favor. Every now and then I see a new one pop up - usually focused more on consoles rather than PC games, but they seem to inevitably go out of business.

As of a few years ago, they are still popular in Korea. They do well in metropolitan areas with small apartments where a gaming PC, desk, and chair might not fit comfortably.

Even in Korea, they are way past prime though. I recall up to the early to mid 2000s you could literally find multiple PC Bangs in the same building (on different floors, etc.). Nowadays I'd say you'd be lucky to find one per block/neighborhood, if even that. And those that are still around seem much more sparsely populated.

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

#112

Post by Dirlewanger »

pratik661 wrote: post #5

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).

> to invest in a game streaming platform (ie Netflix for games)

Like what, OnLive, which is dead? And Stadia, which is a massive failure which Google will shutter in the coming years?

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

#113

Post by maest »

padobson wrote: post #99
volta83 wrote: post #35

Earlier quoted context omitted.

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?

You shouldn't be downvoted, these are the right questions to ask. Citadel says you were right to ask these questions: https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i9SnRzR8AM1... https://www.bloomberg.com/opinion/articles/2021-01-29/reddit...

To clarify, those stats from Citadel show retail flow in GME that Citadel Securities saw.

The main takeaway is that the flow was, essentially, net 0. So retail (or the bit of retail flow that Citadel saw, anyway) wasn't buying GME more than selling, in aggregate.

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

#114

Post by slg »

high_density wrote: post #108
slg wrote: post #105

Earlier quoted context omitted.

It is extremely weird to define the people buying GME as SJWs.

well they might not be the SJWs, but the gullible ones fooled by SJWs. the whole premise of the campaign is to 'fight against the injust hedge funds' (by burning your own money, that is)

WSB was heavily pushing the "fight against the injust hedge funds" narrative and the way that community speaks is a pretty big indication that they don't normally align themselves with SJWs.

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

#115

Post by tehlike »

rsstack wrote: post #41
volta83 wrote: post #35

Earlier quoted context omitted.

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.

/u/deepfuckingvalue? he also posted screenshots iirc.

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

#116

Post by TheHypnotist »

high_density wrote: post #108
slg wrote: post #105

Earlier quoted context omitted.

It is extremely weird to define the people buying GME as SJWs.

well they might not be the SJWs, but the gullible ones fooled by SJWs. the whole premise of the campaign is to 'fight against the injust hedge funds' (by burning your own money, that is)

Not initially. The early adopters were touting business fundamentals for a very long time. The deal with microsoft, the impending release of PS5 and the new Xbox, all this started the ground swell.

Where this hedge fund idea came from, i'm not entirely sure. I think it was just a game when someone woke up and explained that this massive amount of shorting could not be covered if everyone bought shares. At some point that just spiraled into some altruistic hedge funds are evil marketing thing.

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

#117

Post by high_density »

slg wrote: post #114
high_density wrote: post #108

Earlier quoted context omitted.

well they might not be the SJWs, but the gullible ones fooled by SJWs. the whole premise of the campaign is to 'fight against the injust hedge funds' (by burning your own money, that is)

WSB was heavily pushing the "fight against the injust hedge funds" narrative and the way that community speaks is a pretty big indication that they don't normally align themselves with SJWs.

sorry I thought Social Justice Warrior is a term for 'people who rally to do good for the society but are just a bunch of fools'

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

#118

Post by TheHypnotist »

syrgian wrote: post #97
elwell wrote: post #92

Earlier quoted context omitted.

> this is a financial crime How so? I may be ignorant, but isn't that just the way the stock market works. Sad, yes. Crime though?

Pump and dump is fraud. https://en.wikipedia.org/wiki/Pump_and_dump But the effort was distributed and hard to track and prove, so the scammers that knew what they were doing are most likely safe.

Except there is a difference between a pump and dump and a short squeeze. No one is listening to the fundamentals, it doesn't matter.

I think you'd be hard pressed to make that argument on either side.

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

#119

Post by NoOneNew »

high_density wrote: post #89
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.

ditto this. And the motivation for organizing "buy gamestop" isn't altruistic as it seems.. 1. buy gamestop stocks 2. call in SJWs to 'fight against the bad guys (hedge funds)' by buying gamestop stocks - they relay this message to others 3. watch price go up, thanks to campaigns from SJWs 4. sell off when the price is right (feels highest) 5. watch the price go back to normal valuation - you can't expect this high p…

Your argument is already questionable since you imagine a subred that makes retard/dick/cuck jokes has any SJWs in it.

I just find it amazing how so few people actually go on WSB, but have a garbage pail of opinions. Seriously, less then 5 min on WSB shows how incredibly wrong the media has been regarding that community or their motives. Mark Cuban, Kevin Oleary and a few others are backing what wsb are saying due to the exposure they generated of how manipulated the stock market is. This isnt, "this is the mob ruining the market". This is, "oh boo hoo did the wrong people manipulate the stock market and it hurt the hedge funds?"

There will be regulations on this. The trick is to regulate the market so the average schmuck can have a more level playing field instead of the cards stacked in the hedge funds favor.

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

#120

Post by slg »

high_density wrote: post #117
slg wrote: post #114

Earlier quoted context omitted.

WSB was heavily pushing the "fight against the injust hedge funds" narrative and the way that community speaks is a pretty big indication that they don't normally align themselves with SJWs.

sorry I thought Social Justice Warrior is a term for 'people who rally to do good for the society but are just a bunch of fools'

I guess that is how the term is defined by people who dislike them, but I think the core motivation is social progressivism and generally left leaning politics. SJWs are unlikely to favorably compare themselves to 4chan or use the n-word and r-word. I don't think the heart of WSB is particularly political, but it certainly gives off vibes that are closer to the alt-right than SJWs.
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