There are numerous reasons why this news is not as concerning as you'd think.
A. There are numerous sites where you can buy/sell games which true "gamers" know about and use. B. GameStop is the industry leader in their used game inventory management. They can insure that pay less for the "junkie" games so that they do not get chocked full of them. Amazon could quickly find themselves sitting on millions of copies of games that they can't sell and paid too much for. C. GameStop has the ability to pull and send copies of games via their vast chain of stores so that they can turn their inventory much better than Amazon could. D. Cash is king. Gamers are not book readers. Those who want cash get cash. E. Events. Gamestop is great at doing those things which keep gamers, gamers. New title release parties, like-minded people at the stores etc.
I was in the Mall earlier this week & GME was the only store with shoppers.
Sat on the bench o/s the door & people were coming out with bags of merchandise.
Stock is down because this is a Day-Traded Stock; their computers are working this thing up & down. There is no rationale, only computers checking indicators & then buying,selling, & shorting; plus with today's downward bias, there are simply no buyers.