profit taking today. People getting nervous before earnings. heading back down imo and break into 40's and even lower when earnings come out. stopped by a few gamestop stores and everything is discounted just to get business. amazon and best buy giving GME a run for their money
So the GME nightmare is beginning to unfold:
- Launch titles are terrible on both consoles. Check 'em out if you dont believe me.
- The big current releases BF4 (bad reviews, terrible sales) COD:G (terrible users; terrible pre-orders) are selling way, way off. (Note the ATVI press release about channel stuffing).
- The new consoles show up with hardly any reason to buy them. Slightly better graphics, at best. All the real games run on old and new gen so no game reason to buy new. Why buy next gen?
- Industry gets stuck: games need platforms so hard to spend a lot of money on a title for new platform with poor installed base. Old consoles were dying anyway but slowly.
- Nintendo already dead except for handhelds. Wii literally dead and WiiU not far behind.
- Weak 2014 line up getting delayed: Destiny; Titanfall; WD; are a ways off now. GTA VI is five years away.
- Meanwhile the beat goes on: digital pct of sales rising; game streaming; Steam/PC; Apple; mobile; alt consoles; indie; downloading games on the new consoles; F2P; DLC.
Just waiting for the roof to fall in. Q1 2014 looks like it.
My biggest concern is that the forward P/E ratio is starting to getting larger than it has been in a very long time. Just concerned its moving up to much at to fast of a clip and earnings while good, wont be as good as expected. I guess time will tell, hopefully we both sell before it drops. Either way, I believe it might be best to sell before the Jan 2014 financials get released in case the earnings arent as good as we all thougth.
I'm in the same exact boat, average cost is $22.48. Less if you take the dividends that I've received into account and I'm wondering the same thing, since I originally bought this as a value play. Great dividends, excellent cash flow, etc...
I'm going to wait to see how things look once the new consoles start selling.
The million dollar question is how far up wil it go. My average cost is about $21 and since its my largest investment by far, I am temped to sell some but I wont since I know it will go up upon between now and Christmas. I was thinking about putting an $80 sale price which is where the top of the estimate is. What is everyone's (Long's only) thoughts?.
Congratulations to all the longs for keeping the faith, especially during the recent shakedown in May when the stock dropped from 40 to 30 in a few days.
See you at $80.
Sentiment: Strong Buy
I'm sorry, I'm not up on current games, but was concerned that Target had something cheaper than Gamestop? Is this a trend for other retailers to be competitive with games or hardware?
... or was this a one time special by Target?
They always do with triple A titles. The key is the new hardware launches in November. We haven't made it pass 52 week as others since the smart money are not done accumulating. Watch the upgrades start this week. Stiefel is the first one. Next one may be Wedbush.
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They will have plenty of cash coming in for the next four years. They need to either raise the dividend or find other avenues for expansion, buymytronics or simply mac.
If they dont raise the dividend they need to have at least 70- 100 Simply Mac stores by 2015.
Yep, great games coming out, but GME continues to lose money. Why?
Net Income Avl to Common (ttm): -298.10M
Diluted EPS (ttm): -2.49
Qtrly Earnings Growth (yoy): -50.00%
It's all about the next gen consoles and their 20-40 gig video games. Few people want to download a 20 gig game, and there's been little to no talk of any reselling ability for downloaded games. So.. you need a brick-and-mortar store to sell and trade all this stuff
It has been since last winter I looked at GME and there was a worry that game developers were going to license downloads and bypass the gamestop The GME income statement shows them doing worse WHY are you paying so much or holding at this value?
I would do just the opposite till I see Q4 sales, remain minority let Simply Mac issue a dividend so GME has a revenue stream with low risk. Remember when Sears opened all those stores in smaller markets.... It didn't end well...