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GameStop’s CEO celebrated Trump’s victory and stock has been climbing ever since
(www.independent.co.uk)
this post was submitted on 12 Nov 2024
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I wonder what GameStop's CEO will think when he's going to have to pay all those high import tariffs on Nintendo, Sony and other products...
unfortunately itll be the consumer lumped with those costs
And if people really are as concerned with the economy as they claimed to be, what's going to happen when prices go even higher?
"The economy" for most people is "I have BAD vibes right now!" rather than any actual consideration of economics, national or household.
t. someone ACTUALLY in the bottom 15% of American workers.
However, the economy being good is not often actually good for the customer. It's just a slowing down of things getting worse.
Still preferable to sprinting there. At least there's time in-between for things to change.
Said the frog as he slowly begins to boil.
The story about frogs staying in a warming pot is not true. It is however exactly how humans react, as they can convince themselves of all sorts of things to avoid change.
I never said anything about waiting for change to fall into our laps, which seems like what you're implying. I just said that having time is better than "making the water boil faster."
And if they can't afford them, they'll buy fewer games. Because games are less necessary than food.
Gamestop's ceo doesn't give a shit. He's literally just there to pump and dump his options and GTFO.
They'll do the same thing big restaurant chains did where they couldn't pay their tipped employees less than minimum wage anymore. They'll add a new "service charge" so they don't have to increase the product price directly. They'll make it much higher than the actual tariff costs, but say "hey look we're not charging you a full 20% more." Even though the tariff isn't 20% of the retail price but people who support the tariffs are dumb and will think they're doing good.
People need to eat. They don't need chain food, but many people don't have time to cook these days.
People don't need to buy games.
It will always be a different market for food than it is for games.
OK, then look at cable TV. Or any other industry where a tax or regulatory fee was added and a customer gets a detailed bill with charges other than the product cost. They just add line items and pass it on, but of course most of the time those line items aren't directly connected to the cost itself since the consumer wasn't the direct target. So the companies add a little extra for "processing" (i.e. profit). It's a common practice and likely to be the same with the tariffs.
If the price of a Switch 2 or PS6 goes up 30%, they'll probably pull a Kroger and mark up 40%. Plus resale prices will go up too. It'll probably work out for them.
GameStop is a meme company at this point, not an actual company than needs to worry about running a business.
Wasn't GameStop pretty much failing until the apes artificially inflated their stock?
I don't think he'll care. GameStop has become a pawn shop for children these days, that's where they make their money.