If they keep buying back 10% of shares each year, with just flat results for income and revenues, I will own entire company in 9.8 years. I will keep $400 million profits yearly for myself. PLEASE KEEP SHORTING so I can own whole company quicker. The lower price right now, the faster I will be controlling owner. Selling Apple, ATT, Verizon, T-Moble, Gaming supplies, strongest online third party reseller of games, I don't care. I just want the $$$$
So closing 3% of the total stores which are the worst performers is a bad thing now. Are you an idiot? Major corporations are firing 5% to 10% of employees that do not perform annually but this is a good thing for stock price. Leases range in different period of years and its very important when to close or sign a new lease. Gamedude246 you should post under billy madison because you are ignorant with your post. I hope that every 3 to 5 year period at least 5% to 10% of the existing stores are closed. Financial Operations is the key to success within any corporation and GME continues on a very focused plan of diversification and new locations. Shorts are in trouble.
My friend isn't even watching it right now, he said his target is @$32 by late April.
If company put in "market" order to buy 1 million shares right now, we would be at $39
You have to Sell more shares to push price lower. Not many sellers, and plenty of long-term buyers this morning.
Except school getting out - summer jobs, time off... I think one of the biggest problem to date is a lack of killer apps. Games still seem to be relatively thin as far as offerings go. Not a whole lot of compelling gaming. That's not really on GameStop, and certainly not because of digital downloading, either.
i agree but this market is crazy..it will be at new lows soon//.they have nothing going on till next year so I think we are going to test their lows..
These put buyers scream and shout all day.... How much profit in their pocket? Hmmmm????
"200 GameStop video stores are slated for closure this year."
i don't think shorts are worried
All of this year's bad news could be priced into the stock by lunchtime. Then what do shorts do?
I agree that GME is the Blockbuster of the new generation…also I like your friend bought April 37 puts and now they just got cut in half because GME didn't go down enough…..which is really weird given the current state of the business…...
Looking at latest Value Line issue, they project 20%-30% annualized total return in GME the next 3-5 years. They have long-term average of 10x cash flow annually, vs. current 6x. Most retailers are priced between 10-12x cash flow. Value Line's conclusion is collusion of short sellers has depressed price by 40%-50% below today's present value. I recommend management using remaining buy back authority in coming weeks to scoop up every share they can, and leverage the continued undervaluation situation for remaining longs.