Ya'll missing the bigger picture here... Gamestop bought back 1/3rd of the company's stock at undervalued prices..
read this article in it's full entirety. It lays things out pretty good.
https://www.fool.com/investing/2019/12/10/gamestop-just-bought-back-a-crazy-amount-of-stock.aspx
"This is actually a great sign because it shows two things. First, management understands capital allocation, and realizes that buying shares below book value is probably more value-accretive than trying to "diversify" by buying other companies outside of its core games business. GameStop had actually already tried that, buying AT&T reseller Spring Mobile in 2016, only to change course and sell the Spring Mobile business in 2018.
Second, retiring 34% of one's stock in a single year is fairly remarkable and a huge vote of confidence, especially since the company isn't exactly stretching its balance sheet. Even at the end of this horrible-looking quarter, GameStop has $290 million in cash and cash equivalents and only $419.4 million in debt. And of course, this is just before the holiday season, the highest sales quarter of the year, which should replenish the company's cash coffers by early 2020.
But buybacks only work if... Repurchasing stock only works if shares are ultimately undervalued. Given the extreme low valuation at which GameStop was trading earlier in the quarter, that's likely the case. But it's by no means a certainty.
If the new PlayStation and Xbox do well enough to rejuvenate physical hardware and software sales for another multiyear console generation or longer, the recent repurchases could be incredibly value-enhancing to shareholders. But if digital streaming takes off in a bigger way and sales of physical games decline faster than anticipated, GameStop could continue to endure operating losses and may be headed for an even bigger fall."
Sure it's not good news.. But GameStop is and has been doing things to change things around for the better.
Regardless of all the hate, the youbtube videos claiming doom, the posts about corporate and DL's and SL's and this or that or whatever..
Things may be shitty at your particular store or something but that doesn't mean the ENTIRE company is doomed.
Stay level headed. Keep your store nice and clean. Don't patronize your customers and treat them like they are dumb-shits unless they act like it.
I'm 100% gamestop customer only.. I live on the Eastern Shore of Maryland. My Gamestop is incredible. I'm definitely a "regular" if not one of the top spenders in the store.
My local store throughout all the different faces as never let me down or given me a bad experience.
I've been on a first name friendly basis with the past 3 SL's..
I live literally 5 minutes around the corner from the store. Like I said I'm there a lot.
Have faith! I do! Gamestop isn't doomed yet!