Nathanael
Short

Close up bearish Elliott Count for GameStop

NYSE:GME   GAMESTOP CORP NEW
Fundamentally this company is looking quite grim.

As an avid gamer, i know (as do most) the future is digital downloads. There is no reason for a company like this to be the "middle man". As much as I like owning a physical copy of the games, I'm a minority. Most people are lazy and want gaming on demand. Its like vinyl records.

Gamestop is quite reminiscent of another distributer (cough...blockbuster...cough) that got hurt by the transition to the digital distribution model - I can't see why Gamestop is any different.

And with companies like Steam, and EA             (with origin) and other more independents leading the digital distribution model, this company is game over.

Not to mention, the CEO             talking about making the company some sort of Apple             / cell phone distributor or some s*#@ is nothing but bad news bears.

Anyway, on a larger time frame, please see my older chart here:
Game over
usaoscoin
2 years ago
There was talk of Gamestop converting some of it's traditional game outlets to mobile phone and tablet stores, did that ever materialise?
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Nathanael usaoscoin
2 years ago
yea the CEO has been talking about that - I think the process has already started, but it sounds like desperation to me.... Thats not what the world needs - another mobile phone store. Its just the cheapest way for them do something since they already have all these stores over north america (in my opinion)
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Nathanael usaoscoin
2 years ago
i also wish i could use swear words to properly articulate my response ;)
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Nathanael
2 years ago
By the way, during that pump near the beginning of april (after the crappy late march earnings) the CEO was making the rounds defending the company and crackhead analysts were giving $60 targets. FYI
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minbari PRO Nathanael
2 years ago
Oh come on I wouldn't put a saint like Rob Ford in the same category as those guys..
+1 Reply
stockgamer
2 years ago
I don't think that this has to be the end of physical games. Look at music or movies - there are still plenty of stores out there that sell physical copies, even if the masses buy digital.

But... It does mean the end of GameStop. The difference is that stores like Walmart and Target can adjust shelf space based on demand and focus more on spillover sales (you bought a video game AND a soda AND something else). GameStop doesn't have that backing
+1 Reply
Nathanael stockgamer
2 years ago
I agree
Reply
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