/biz/ - Business & Finance

So I just got back from Gamestop where I spoke to the manager...he was the only employee in there.

I started by asking about the PS5 / Xbox preorders and he said there were people camped out on Thursday night in line and they sold out the next day, Friday. He said they will get more in stock whenever Sony gives it to them, so they are kind of stuck there.

He said he'd been working there for 6 years and generally liked it and seemed to have plans to stick around for at least another 2 years. I revealed to him I wasn't there to buy anything and instead was thinking of investing in Gamestop stock. He kind of laughed and said he bought 100 shares back at $2.98. He said he knows nothing about stocks so his brother did the trade for him. He only bought at the low because it wasn't a lot of money and he knew at the least it would rise during console season. He said he doesn't see Gamestop going out of business for another 2 years if at all, he said theres no way with the new consoles and the next Switch coming out, they could sustain business even if no changes were made. He said they saw really good business during Covid, even better than pre-covid. He also said there are rumors that management wants to turn certain stores into distribution centers to be run similar to Amazon. Essentially, he verified a lot of the things we already know. The point of going there was verification, and the fact that the managers already know that these changes may go into effect is telling to me.

He knew about the other stores closing which were too closed together and said they will be opening new stores where needed soon.

So I am pretty sold on GME, however I'm not sure if a $10 entry is the best. Thoughts, bros?