Posted on 07/11/2022 5:28:25 PM PDT by wastedyears
GameStop on Monday announced the long-awaited debut of its online marketplace for nonfungible tokens, or NFTs, in a bid to reinvent its business and cash in on consumer adoption of cryptocurrencies and blockchain technology.
(Excerpt) Read more at cnbc.com ...
Maybe a different "get well" strategy is called for.
There is no valid market for NFTs.
Crazy.
I thought they went bankrupt.
The hedgies would love for that to happen, but Gamestop has over a billion dollars in cash on hand. God knows how many companies the hedgies have shorted out of business; I'm pretty sure Toys R Us and Sears were two. But they got caught now. A few hedge funds have already fallen. There are many more to go, but their destruction is inevitable.
Or all the businesses you mentioned had failing economic models and could not adapt to a changing consumer. Sears could not bring themselves to disrupt their own business with online sales. They missed the fact that people no longer wanted to go to malls. They started with catalog sales it is amazing to me how they missed that boat. I am surprised Best Buy still is able to make a go of it. Gamestop may not be dead yet, but a large percentage of game buys these days are downloaded and amazon/ebay/walmart can take care of game machine purchases. A company can only absorb 150M$ losses per quarter for so long. NFT are not going to do it.
Who said they lost $150 million? Yahoo finance? Jim Cramer?
Sears was the original Walmart and auto store, electronics store, clothes store in one. Didn’t they also sell firearms?
For Toys R Us, they would always have had a customer base, because while the birth rates are slowing, people are still having kids and they still want to give their kids toys.
You’re spreading hedgie fud on here. It doesn’t work anymore.
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