Just look at the chart from GAME all the way back to their IPO in 2009. One look at that and GAME seems like a no brainer short. Revenues and profits declining, it's parent company taken private and in spite of 100's of millions in buybacks and massive dividends the share price seems to only go down. Even today it is trading only about 10% above it's 52 week low.
So naturally I'm long, expecting to make a very large sum of money...albeit very slowly.
The key is the buyback and float. At some point it will hit critical mass and start to move north rapidly (55M outstanding with what seems like a new 100M buyback every year set in place). Once that happens then I look for Chen to take it private for the original IPO price (12). But Chen is smart, and will try to keep the share price low as long as he can and just sit on the bid and collect shares.
If you want to make a short buck I'd look elsewhere. While you never know, I'm thinking this will play out over the next 2 years.