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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

#21

Post by EGreg »

LargeWu wrote: post #11
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).

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...

Umm they issue more stock and sell it into the market of millions of “degenerates” who want to hold it?

SEC would need to approve their offering quickly.

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

#22

Post by nrmitchi »

ordinaryradical wrote: post #17
JohnJamesRambo wrote: post #13

Earlier quoted context omitted.

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.

I mean, they have to be scheduled in advance to avoid even the implication of trading based on non-public information.

I would find it hard to believe an accusation of "insider trading" if an GameStop officer sold a bunch of stock last week, rather than the much more likely public-information explanation of "we're definitely not a $25B company and everyone knows it".

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

#23

Post by theorymeltfool »

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.

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

#24

Post by valuearb »

languagehacker wrote: post #6

No big surprise that one of the new executives is coming from Chewy, given Ryan Cohen.

Chewy is an entirely different business model with little applicability to GameStop.

You can’t download cat food and your console doesn’t die if you don’t buy it a physical game every single month.

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

#27

Post by [deleted] »

EGreg wrote: post #21
LargeWu wrote: post #11

Earlier quoted context omitted.

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...

Umm they issue more stock and sell it into the market of millions of “degenerates” who want to hold it? SEC would need to approve their offering quickly.

[deleted]

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

#28

Post by joekrill »

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).

Clearly not everyone thinks that's the state of affairs. Roaring Kitty has clearly done quite a bit of research and thinks GME is undervalued. And if you believe that many of the folks on /r/wallstreetbets are being genuine, then they feel similarly. Time will tell. But there's certainly no guarantee that this is a "once in a lifetime overpriced valuation".

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

#29

Post by iso1631 »

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?

Rebuilding into a place for gamers to congregate in person rather than shout at anonymous trolls on the internet?

They've got the space, and after 18 months of limited social contact it could be an opportunity

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

#30

Post by pvitz »

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).

They have been raising money with an ATM offering since December (https://www.sec.gov/Archives/edgar/data/1326380/000119312520...). However, it is not clear when packets of stock were offered, i.e. it could have been already before the high price. AMC on the other hand did take the opportunity of the high price to do an ATM offer IIRC.
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