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GameStop stock collapses after abandoning potential sale. Price lowest since 2005

Benji

Benji

Self Requested Ban
Banned
Oct 25, 2017
8,114
We are witnessing one of the biggest collapses in the industry for some time. After news broke today that GameStop was unable to acquire investment to sell the business the stock price has completely collapsed. Nearing a 28% drop

Its traded as low as $11 today making it the lowest price since 2005. It is also on track to have the biggest sell off for the company since December 2002.


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Thoughts are with those that work for the company as there appear to be difficult times ahead
 
Spider-Man

Spider-Man

Banned
Oct 25, 2017
2,353
EB Games in Canada has always been amazing for me. I hope they stick around here like Toys R Us did.
 
DeuceGamer

DeuceGamer

Member
Oct 27, 2017
3,476
Curious what this will mean for GameStop's short term future. Definitely not looking good for their long term future regardless of this latest news.
 
Kuro

Kuro

Member
Oct 25, 2017
20,655
Time to buy then when the stock goes back up with new console releases I'll sell sell sell, I'll be rich!

gamestop is so dead
 
ASaiyan

ASaiyan

Member
Oct 25, 2017
7,228
Okay, maybe 2 years was too generous. Maybe GameStop will collapse within the next 6 months. Lol.
 
Dark Knight

Dark Knight

One Winged Slayer
Member
Oct 25, 2017
19,306
Tbh I haven't willfully bought anything from Gamestop for the past 10 or so years. I'm surprised they've lasted this long.
 
Garyizraw

Garyizraw

Member
Sep 14, 2018
124
Other than trading in stuff I avoid Gamestop as much as I can. Always trying to sell me that pointless membership and pre-orders. The only thing I like about them currently is their used retro games, they actually do a good job with disc/cartridges. At least in my experience as a Saturn Owner
 
Mr.fresh

Mr.fresh

Member
Oct 31, 2017
689
During the PS3 years I was ALWAYS in GameStop but now I get everything straight off the PS Store. Most people are probly just going elsewhere now.
 
Astandahl

Astandahl

Member
Oct 28, 2017
9,011
Market really reacts on the short term when there are statements like this one. Of course i really don't see this company doing well in the long run due to bad market trends ( retail ) + huge competitions.

They tried selling other stuff but yeah not that easy when the average guy just want to buy a new videogame. Plus the second hand market is suffering from competitive digital prices which are very very good for the consumers.
 
Dest

Dest

Has seen more 10s than EA ever will
Coward
Jun 4, 2018
14,056
Work
They opened the stock and tried to sell it as new. People weren't willing to pay new prices for used stock.
 
DeckardWintermute

DeckardWintermute

Member
Aug 27, 2018
2,779
I used to work for them and while helping customers with games was really great dealing with management forcing me to shovel garbage down customers throats wasn't. Let it burn.
 

mrmoose

Member
Nov 13, 2017
21,190
I know it's a long time low, but isn't a lot of this because investors flocked to the stock thinking there was going to be a buyout? It's not that much lower than before that rumor, is it?
 
Spider-Man

Spider-Man

Banned
Oct 25, 2017
2,353
I've always loved my EB Games stores here in my city.

I've grown to get to know the staff. They know what I like and always let me know.

They've always been great for in store preorders for games and collectors editions and with their discount program I save a lot of money on figures I collect like Marvel Legends as well.

Losing their Canadian operations would be a huge loss for us. Hoping for the best!
 
Bomblord

Bomblord

Self-requested ban
Banned
Jan 11, 2018
6,390
Hmm I wonder how low it'll fall or if it's worth grabbing and seeing if it recovers a few dollars.
 
Javi

Javi

Member
Jun 2, 2018
112
Texas
i don't understand what are and how stock works. All I know is that they always fluctuate and ya'll want it to be wroth more. But I thought it was like imaginary money? So when it gets too low people sell all their stock and bankrupts the company?
 

ElNino

Member
Nov 6, 2017
3,718
MORE_FPS said:
For me they been terrible, always forcing shit down your throat.
Click to expand...
Click to shrink...
As someone who has shopped there (back before it was EB Games) for more than two decades, I can't remember ever having anything forced down my throat. Unless you consider them asking you if you want to pre-order a game or buy game protection as "forcing shit down your throat". Even then, it couldn't be easier than simply saying no thanks and completing your purchase.
 

Deleted member 7279

Banned
Oct 25, 2017
4,553
GameStop went from being a video game store with a few collectibles to being a collectibles store that also happens to sell video games. The way they chose to adapt is by far the worst option. I had a friend buy me the Keyblade from there for Christmas and while it was cool to look at for about 30 seconds, I just stuck it in a spare room and haven't thought about it since then. That is what GameStop has decided to do to try and save themselves. My local one has always treated me very well but the idea of shopping there and getting a "new" game that is open already just sucks and I would never ever do it.
 
Javi

Javi

Member
Jun 2, 2018
112
Texas
also they are like 3 gamestops close to me (all of them blocks from each other LOL) Idk how they have all been able to be successful
 
TheMan

TheMan

Banned
Oct 25, 2017
3,264
GameStop has problems but it would suck to lose the only major dedicated games retailer left.
 
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