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GameStop appoints chief technology officer and two additional executive hires

news.gamestop.com

171–180 of 199 posts

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

#171

DFV himself said that GME might be worth $50 a share if, and only if, the Cohen turnaround eventually takes.

I wouldn't put too much faith in what he says. Seems like if you see something you think is worth $50 per share selling for $300 in a short squeeze scenario, you should sell. This morning, I read that he failed to realize more than $10M of paper gains. Ok, maybe you're in it for the long run, but it clearly wasn't worth $300. Cash out, buy back in a month when things settle down. Then again, he's been so public with…

Your theory makes sense.

He was actually down something like $30M from his peak at end of day yesterday. He’s cashed out $13M and had like $10M left.

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

#172
post #41
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.

I've been frequenting it for years.

I find the memes there funny, and I like interacting with the people and just talking dumb stuff.

I think most of the screenshots that get posted are fake, and that most people that frequent it also mostly do because they find it fun.

Not necessarily inspect element, but also screenshots from paper-trading accounts, etc.

If you follow the stock market, it is a relatively random place, and train collisions do often happen, so it is nice to have a place to talk about those with people that find them funny, and that also find "let's put out this fire with gasoline" funny.

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

#173
post #41

Earlier quoted context omitted.

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.

/u/deepfuckingvalue is a real trader actually, manages trades for clients, etc.

On their free time they do tutorials about their process, their tools, etc.

Saying that they are a retail trader is like saying that Warren Buffet is a retail trader when they trade with their own private money and not the money of their clients.

---

Also, you can just open a paper trading account and trade with fake money. Then the screenshots look real.

I do this all the time when I need to explain an options play to somebody. Just switch to paper trading, give yourself a million $, and enter the trade.

If I had to show somebody in a podcast how to trade, I would open a paper trading account just to put an amount of money that would be reasonable for that person, so that they can better get a feeling of what the wins and the losses look like.

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

#174
Gamestop needs to focus on having tons of e-sports tournaments (with a buy in and/or membership fee). Create an esports league and have national/regional/local tournaments. Also they need to be live streaming on twitch from each location. As a rule, from corporate down to the local shop, they should be creating online content about video games. They should leverage their position with Microsoft to see if they can work with Game companies to get secrets/easter eggs in games and then be the streamers that are known for revealing game secrets. Make it about the gamer experience. Once the pandemic lifts, having physical locals can be a great strength if used well. Do e-sport lessons. Have retro nights. Do arcade pop ups. They need to focus on branding/cool factor. Be a safe space for YOUNG kids. There is tons of stuff they can try besides inventing some tech platform.

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

#175
post #41

Earlier quoted context omitted.

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.

I wonder how many are authentic and not just inspect element

They might be authentic, in the sense that somebody is using a paper-trading account.

Using inspect element sounds like too much trouble when you can just use fake money instead.

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

#176
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

> * put 3D printers in the stores and sell custom objects based off of your gamer profile.

3D printing is SLOW. A figurine only 2-3 inches tall could be relatively quick (under 4 hours), but would lack detail. Something in the 6-8" height could look good, but would take 8+ hours to print. From what I've read, most private 3D printer owners charge about $2/hour for 3D printing (plus the cost of filament and a print setup fee of some sort).

> * convert the stores into a gamer bar and show eSports tournaments.

Most GameStop locations are way too small for this. If they purchased larger venues, then they're competing with Dave & Busters, Big Al's, Round1, and possibly regional chains/locations I haven't heard of.

> * host LAN parties or move into tabletop games

I don't know how well the LAN thing would perform in the American market. I've seen pay-per-hour PC gaming locations years ago, but they don't last. The demand just isn't there, especially when game streaming like Stadia is a thing.

Tabletop game stores don't make a lot of money unless they can sell a LOT of M:TG cards and Warhammer figurines, I expect WH to die off with 3D printing being a thing.

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

#177

Earlier quoted context omitted.

Doesn't 3D printing take a lot of time, though? Especially for complex prints - I'm not directly involved, so I might be wrong about this, but I've definitely seen print times quoted in double-digit hours often enough that it doesn't surprise me any longer. Between that, the typical need for hand finishing, what I gather to be extremely significant capex for machines capable of printing fast in multiple colors, and t…

My thought was to partner with game companies and get access to the users avatar(s) [Halo, CoD, Cyberpunk 2077, PubG, TF2, etc.] This way you already have access to the 3D model and can just print them all day long. Even better, hook into the console's "store" and make it an option to buy online. Then when they come into the store to pick up their 3D printed key-chain, bobble head, belt-buckle, doo-dad you can upsell…

To be fair, neither do I, but that's not the biggest problem I see.

If it took 15 seconds, or even five minutes, to 3d-print a model like that on a desktop machine, then sure, there might be something here. But the Stratasys J750 production printer that Shapeways uses for multicolor prints [0] requires, per its user manual [1], "between several hours to several days" to complete a print, depending on size. It also weighs half a ton, needs a room and about 3 kilowatts to itself, and those are where its environment requirements start [2] - not to mention that the uncured printing materials appear to be quite toxic, judging by the bulk of safety, first aid, and hazardous materials handling discussion in the user manual. And that manual is what you're meant to use as an aide-memoire after being trained by a Stratasys field engineer in how to operate the machine at all.

The machine is apparently designed mainly to print anatomical models accurate enough for surgeons to practice on them, and in that context its engineering requirements are reasonable. They're also reasonable for a company like Shapeways, which entirely revolves around 3D printing and can arrange its physical plant to suit. I won't even say it's impossible to cram something like this into a strip mall, but it'd probably need to be next door to an outpatient MRI clinic or something like that, to get the services it needs without the cost and permitting of having the runs put in - you'd have to pick the site to suit the process, and GameStop locations aren't picked that way. And even after all that, the print time is still a killer.

In theory, sure, it would make sense. But in practice the tech just isn't there yet. About all that leaves, I think, would be "BOPIS for Shapeways", and I doubt that'd be a big enough draw to be worth the trouble - at that point, it probably makes more sense for the studios to do something like Hero Forge, and cut GameStop out entirely.

[0] https://www.shapeways.com/materials/multi-color-polyjet

[1] https://www.stratasys.com/-/media/files/documentation/polyje...

[2] https://www.stratasys.com/-/media/files/printer-spec-sheets/...

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

#178

Earlier quoted context omitted.

Yes it would absolutely be issuing new stock. However I'm actually not sure how quickly companies can do that. It has to be done by the board. Can they just hold an emergency meeting and authorize it within hours? Or is it the kind of thing that requires certain approvals which require weeks or months? It could also be a huge PR backfire. If the stock then drops back down, then they could be accused of taking advanta…

You should read Matt Levine, he covers all these questions in depth. The answer to your question is that the board can hold the meeting on Twitter and pass the issuance of new shares that way if they wish. The problem is shareholders suing for securities fraud. That the people who bought at the top are now shareholders. The company has a fiduciary duty to them. If they issue new shares and sell them, that lowers the…

Turns out the board doesn't even have to meet in this case. Levine wrote Jan 25:

> Happily, GameStop does have an ATM offering going. It put it in place on Dec. 8, 2020, when the stock was at about $16.35. The way these things work is that GameStop disclosed that its bank could sell stock—up to $100 million worth—“from time to time” at GameStop’s request “consistent with its normal trading and sales practices”; it did not disclose any particular schedule, and has not yet reported if any shares have been sold, or how many, or when. So I don’t know if GameStop had sold the whole $100 million before Friday’s wild run, or if it had any stock left over to sell; if it had any left over, I don’t know if it sold it all on Friday. I hope it did! [1]

On the other hand, that may have been extremely lucky. When Hertz tried to issue more stock in June, the SEC objected so it never happened -- as it was too likely the buyers would be purchasing essentially worthless shares. [2]

[1] https://www.bloomberg.com/opinion/articles/2021-01-25/the-ga...

[2] https://observer.com/2020/06/hertz-car-rental-bankruptcy-sto...

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

#179
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

https://www.theverge.com/2020/10/15/21517970/gamestop-revenu...

> GameStop and Microsoft have entered into a multiyear agreement that gives the video game retailer a cut of every digital purchase made on any Xbox consoles it directly sells going forward, Ars Technica reports.

With someone at the helm that can negotiate a deal like this, I'm not worried about GME.

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

#180
post #179
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

https://www.theverge.com/2020/10/15/21517970/gamestop-revenu... > GameStop and Microsoft have entered into a multiyear agreement that gives the video game retailer a cut of every digital purchase made on any Xbox consoles it directly sells going forward, Ars Technica reports. With someone at the helm that can negotiate a deal like this, I'm not worried about GME.

Lol we don't know the details of this agreement but I guarantee most of it is just an enterprise cloud agreement. Don't expect them to do much else
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