"Despite a slowing economy that resulted in a harsh market sell-off in October, consumers continued to snap up video game equipment at a pace that beat analysts expectations. "
I'm not going to read this whole thread, so my apologies if you've already covered this...
With October sales being well above expectations (games growth 35% over last year), what on earth would make you think GameStop will be guiding lower?
You think they'll say something like "despite all the sales data we've been seeing, we think people have got to wise up eventually and spend their money on books, so we see earnings falling at that time?"
I just don't get it...
It not about comparing companies it's about the enviornment where in. The price of whats about to happen is not built in, if you've paid attention to all of the guidance given from a wide variety of companies they all say it to hard to be foward looking now which is what you will hear on Nov. 20 when GME reports a good 3rd qtr and guides lower, and also after next Friday when no one goes shopping on the busiest shopping day of the year this stock will go down like the rest. You keep calling me desparate (why I don't know). I have not tried to insult you I just disagree with you. Turning to insults is a sign of desperation. But I bet you'll argue it's not.
Have a nice weekend.
Ok, so you are using an argument by analogy now. Can you be anymore desperate?
I have an idea, why don't go through a long list of totally unrelated companies that have ever gone done, and you can say that Gamestop is just like those companies.
Then somebody else can post a long list of all the companies that have gone up, and they can say that Gamestop is just like those companies.
That would be a fabulous waste of time...but as much as you can do since you can't argue against the facts that actually have to do with Gamestop.
Go back to talking about Obama, or whatever you do in your free time.
I went through this last week with AMZN longs when they got a pop all the way up to $58 from $43 a week and a half ago. They all felt the same way and had the same type of arguement. Thats great they paid off my house and you'll buy me a 2nd one. Keep buying!! The future will show who is right. I hope to hear from you then!
haha...I love your desperate caps-lock rant.
The market has already priced in doom and gloom for Best Buy and all the retailers. The fact that the economy will likely get worse is not a surprise, and is priced in. Mr.Market, as usual, is over-reacted, tihs time to the downside. That is precisely what creates the buying opportunity. So the fact that is 'staring' me in the face is what creates the opportunity to buy a quality, steady-growth, recession-proof company at an attractive price.
You have a lot of facts except the most important one. The one thats in your face right in front of you OUR ECONOMY IS HEADING TOWARDS THE WORST RECESSION SINCE THE GREAT DEPRESSION, that out ways your facts. Turn on the news.
The recession is getting worse, not better. Those "great" sale numbers are just going to shrink as we get further into this nightmare, and before long reality is going to come well short of the overblown expectations. The current high price of this stock already has the rear view numbers baked in - there's nowhere to go but down from here. Why anybody would hold onto this is a mystery.
I don't have to read it nor listen to The guy on CNBC who is going to pump his own company. I'm sure it's a great company, but the price is not going to hold because we are in a recession. Sometimes the facts are right in your face but you can't see them because you don't want to you convince yourself you can't be wrong.
Prachter was expecting 20% increase in video game software sales in October from NPD...a very bullish sentiment in the worst month in economy has seen in our lifetime. Prachter was off...way way off. Video game software sales were up 36%
Let me repeat...VIDEO GAME SALES UP 36% IN OCTOBER. I rarely resort to caps...but this is too much. Now the industry as a whole is up about 18-19%, including hardware, peripherals, etc. But we know what matters most to gamestop.
Please rate this post with stars if you think potential Gamestop investors should look at it.
"In advance of this week's October NPD video game sales report (expected on Thursday), Wedbush Morgan Securities' Michael Pachter has predicted that software sales for the month have returned to "normalcy" with a 20 percent rise to $620 million."