But the reality is that it turns a profit and they have enough cash on hand to cover their debts if need be. Financially, the business is not failing by any honest metric.
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And it sure seems like the hedge funds that had obscenely massive short positions on Gamestop and were counting on it failing have been over time slowly driving the share price down so they could make money.
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How long have we been fed the narrative that Gamestop is a "failing business" because it's to the financial advantage of a few people to push that story?
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Weird, I wonder every Christmas if this is the last one for them.
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For the retail, brick and mortar it may be, now more than ever. But the GameStop corporate entity has a lot fingers in a lot of pies so to speak. They’re fine, overall.
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It was shitty enough when they treated employees the way they did early in the pandemic when we thought they were circling the drain. Now? Now we know they *should* fail, but doing so would give the hedge funds what they want.
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I dunno, I would think you would want them to be successful and for them to have better labour practices. That seems like the best outcome.
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neither was TOYS R Us until.. these are not good guys. but the answer isnt to make all capital a scam and destroy retirement savings.
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Because Bain Capital literally destroyed Toys R Us. It was fine... made profits annually... until they bought them out and then stuffed it with the acquisition debt and so many fees... it was a vulture capital scam.https://theweek.com/articles/761124/how-vulture-capitalists-ate-toys-r …
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Wait really??
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