Lets be honest Longs,
GME is down 19% from the high $60 to $51.
GME is down 10% this week $55 to $50
GME is down 3.74% today on earnings.
Insiders have dumped 61% of their holdings
Insiders have sold $1.39 billion in 12 months
The P/E is the highest of any retailer in the market.
Every retail store in the US sell video games.
What are you waiting for?
Why not buy some beach front property in Arizona?
I got my XBOX 360 at Best Buy, dumped my old XBOX at Gamestop!
When I look at my quote screen GME is down again today 3%.
Is that what you see? I also see the GME is down 20% for the month? Is that what you see?
I have been short this pump and dump for a 2 weeks. Is the GME up or down?
I am hoping for a larger sell off similar to JSDA, CROX or HLYS. But I guess the funds are letting you off easy?
Fine when you can't cover your short and go broke. I will set up a college fund so that your kids can go to school and get educated. Im through with listening to your same 3 facts which are both wrong and worthless.
You don't know anything about what you are talking about. Its like you read the first 10 pages of a finance book, and now think you are an expert.
Goodbye I have better things to do.
Facts are facts. This pig is down 24% in a month, Down 7% since earnings release, yesterday and it has a P/E 3 to 4 times its peers.
Fact is GME is a pump and dump.
I think we are on the dump part, based on the facts stated above. (Hint: I forgot to mention $1.39 billion in insider selling!)
FYI - PS3 at KMart $319 with a coupon.
I don't own any retail stock. I am not stupid. But Radio Shack earns 4 times per share what GME earns per share. Don't be a fool. RSH also has higher then a 1% net profit. RSH insiders also have not unloaded $1.39 billion in 12 months, onto its buffoon shareholders.
Now update my numbers, GME is down another 3%.
To be honest the sell off should be much more severe in GME. I might cover if this pig does not come down harder and faster.
If you are bullish on Radioshack, a company growing -20% a year, that tells me all I need to know.
3 qrter 2006 - .11 eps
3 qrter 2007 - .31 eps
4 qrter 2006 - .80 eps
4 qrter 2007 - .97 eps (conservative)
Bestbuy has good consistant fundamentals. Its sells electronics and appliances which might not be bought in a recession. Video games actually make up a small % of its sales. You can't lump it in with Gamestop. People will for go the new dishwasher or plasma tv to buy their kids a video game for christmas.
The Radio Shack store sells games here. Two stores down from GME further down the mall is Sears and a record store in the mall all three sell VG systems. Radio Shack was up today. GME was down 3.72%. RSH sell at a very, very reasonable P/E of 11. I was short RSH, but it has come down 40% and is now very reasonably priced and looks far better then GME on valuations.
RSH has a far far better valuation then GME. Are you kidding? RSH P/E is 11! GME = 43!
Did you listen to the conference call? GME had a 1% net profit!
"Bestbuy really isn't too bad of a company."
ROFL! BBY is "best in breed". It has crushed Circuit City and others.
"This is a GROWTH stock not a value stock. If you didn't know that you might be in trouble."
GME has flooded the market with stores no doubt. But their net is 1%. Look it up.
I was in a radio shack two weeks ago. NO GAMES IN THE STORE. If people are in the mall, they aren't getting their VG's from Radio Shack. The small selection of VGs they sell ONLY on web wouldn't even register to GME as competition.
Radioshack is "on sale" for a reason. The company is not growing but getting smaller. Look at the finacial data. They are bringing in less money every year, and selling off assets, but their debt is staying the same. This company is going under my friend. To bad I actually liked the store, even though it DOESN"T SELL GAMES except on the internet.
Bestbuy really isn't too bad of a company. It doesn't grow at the rate that GME does. In 3 years BBY has grown 25% in assets and sales.
GME on the other hand has TRIPLE its assets and sales in the past three years.
We are paying that higher price for growth. You can't just look at a three numbers (the P/E) on three stocks and toss you money on the table. This is a GROWTH stock not a value stock. If you didn't know that you might be in trouble.
Know what good luck to you anyway. I feel even more cofident after talking to you.