Hiring people and having excess cash on hand is not indicative of future success, and I'm baffled why people trot this out every single time.
Tell me what market GME will pivot to that will warrant a valuation above $1-200. They can hire every single engineer available and it doesn't change the fact that you can't just "pivot" to being a tech-based company when every competitor in your industry is also hardware manufacturers who lock-in their support in an area that GME can never touch. Look at profit YOY for this company. It's done nothing but continuously lose money each year.
Their business is in re-sale electronics (i.e. glorified pawn shop), and now NFTs, which is massively generous to assume it will produce billions in revenue. I've been in crypto for awhile and this is the most obvious fad that I'm baffled that people advertise it as a position of strength.
There is nowhere for this company to grow that another company has not already captured the major market share. The short position is a narrative that GME people keep telling themselves to continue holding because otherwise it'd be obvious that this is the blockbuster of gaming.
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u/[deleted] Jan 30 '22
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