Spyke

Posts

gmecanada·GMECanadabyjergy

GameStop company turnaround - current status as of Q3 2024

cross-posted from: https://lemmy.whynotdrs.org/post/2488493

GameStop Company Turnaround

Since 2021, GameStop has been undergoing a transformation: fewer stores, higher value, renewed profitability

By June 2021, Ryan Cohen and the new board of directors were in the position to initiate the turnaround of the company. This has involved extensive cutting of costs, closing of stores, and modernization of a company that had previously failed to adapt with the modern era.

"We inherited a bunch of legacy everything, and under-investment across the entire business –- people, the entire technology stack, just decades of neglect, and so it’s hard to turn around a brick and mortar retailer that’s under the kind of pressure that GameStop was and continues to be under, but that was also part of the attraction going into GameStop was that a transformation the likes of GameStop was really unprecedented and I was motivated by that." -- Ryan Cohen (November 2022)

GameStop has made substantial efforts to upgrade and modernize its online store and enhance its overall omnichannel experience. This has included investing in a more user-friendly and mobile-responsive website, streamlining the checkout process, and improving product availability and search functionality. Additionally, the company has integrated buy-online-pickup-in-store and same-day delivery options.

In September 2023, Ryan Cohen became the CEO of the company. In December 2023, the board approved a new investment policy which gave Ryan Cohen the authority to manage the company's investment portfolio.

In March 2024, the company reported full-year profitability for the first time in 6 years.

In 2024, the company completed 3 at-the-market equity offering programs, raising approximately $3.5 billion in cash, raising the book value per share of GME to nearly $11.

"with respect to retail operations, we plan to continue reducing costs and focusing on profitability... This means a smaller network of stores with an expanded assortment of higher value items that fit into our trade-in model." -- Ryan Cohen, 2024 annual shareholder meeting (June 17, 2024 )

In 2024, GameStop began selling new original products such as Candy con controllers and the Raptor 8 mobile gaming controller.

In addition to the release of new original products, GameStop has also expanded into the graded trading card market.

  • On October 15, 2024, GameStop announced a collaboration with PSA, becoming an authorized PSA dealer, with PSA providing authentication and grading services for trading cards through select GameStop stores across the United States.
  • On November 18, 2024, GameStop announced that Nat Turner, Chairman and CEO of Collectors Holdings, Inc., has been appointed to the Company’s Board of Directors.

The turnaround of GameStop has been in progress for about 3 and a half years, depending on when the precise start point is.

A look at the core financial metrics shows significant improvements to the financial standing of the company.

GameStop has raised cash and eliminated practically all of the debt that it had. Now holding a large pile of cash, the company earns interest income rather than paying interest on debts.

GameStop continues to close more stores every year, a trend that began before the initiation of the company turnaround. As GameStop closes more stores, the revenue continues to decrease, as does the SG&A expenses.

While operating income has seen significant improvement, it remains negative.

comprehensive article with links

View original on lemmy.whynotdrs.org
5
Comments1
gme·GMEbyjergy

GameStop company turnaround - current status as of Q3 2024

cross-posted from: https://lemmy.whynotdrs.org/post/2488493

GameStop Company Turnaround

Since 2021, GameStop has been undergoing a transformation: fewer stores, higher value, renewed profitability

By June 2021, Ryan Cohen and the new board of directors were in the position to initiate the turnaround of the company. This has involved extensive cutting of costs, closing of stores, and modernization of a company that had previously failed to adapt with the modern era.

"We inherited a bunch of legacy everything, and under-investment across the entire business –- people, the entire technology stack, just decades of neglect, and so it’s hard to turn around a brick and mortar retailer that’s under the kind of pressure that GameStop was and continues to be under, but that was also part of the attraction going into GameStop was that a transformation the likes of GameStop was really unprecedented and I was motivated by that." -- Ryan Cohen (November 2022)

GameStop has made substantial efforts to upgrade and modernize its online store and enhance its overall omnichannel experience. This has included investing in a more user-friendly and mobile-responsive website, streamlining the checkout process, and improving product availability and search functionality. Additionally, the company has integrated buy-online-pickup-in-store and same-day delivery options.

In September 2023, Ryan Cohen became the CEO of the company. In December 2023, the board approved a new investment policy which gave Ryan Cohen the authority to manage the company's investment portfolio.

In March 2024, the company reported full-year profitability for the first time in 6 years.

In 2024, the company completed 3 at-the-market equity offering programs, raising approximately $3.5 billion in cash, raising the book value per share of GME to nearly $11.

"with respect to retail operations, we plan to continue reducing costs and focusing on profitability... This means a smaller network of stores with an expanded assortment of higher value items that fit into our trade-in model." -- Ryan Cohen, 2024 annual shareholder meeting (June 17, 2024 )

In 2024, GameStop began selling new original products such as Candy con controllers and the Raptor 8 mobile gaming controller.

In addition to the release of new original products, GameStop has also expanded into the graded trading card market.

  • On October 15, 2024, GameStop announced a collaboration with PSA, becoming an authorized PSA dealer, with PSA providing authentication and grading services for trading cards through select GameStop stores across the United States.
  • On November 18, 2024, GameStop announced that Nat Turner, Chairman and CEO of Collectors Holdings, Inc., has been appointed to the Company’s Board of Directors.

The turnaround of GameStop has been in progress for about 3 and a half years, depending on when the precise start point is.

A look at the core financial metrics shows significant improvements to the financial standing of the company.

GameStop has raised cash and eliminated practically all of the debt that it had. Now holding a large pile of cash, the company earns interest income rather than paying interest on debts.

GameStop continues to close more stores every year, a trend that began before the initiation of the company turnaround. As GameStop closes more stores, the revenue continues to decrease, as does the SG&A expenses.

While operating income has seen significant improvement, it remains negative.

comprehensive article with links

View original on lemmy.whynotdrs.org
1
Comments
drs_your_gme·DRS Your GMEbyjergy

GameStop company turnaround - current status as of Q3 2024

GameStop Company Turnaround

Since 2021, GameStop has been undergoing a transformation: fewer stores, higher value, renewed profitability

By June 2021, Ryan Cohen and the new board of directors were in the position to initiate the turnaround of the company. This has involved extensive cutting of costs, closing of stores, and modernization of a company that had previously failed to adapt with the modern era.

"We inherited a bunch of legacy everything, and under-investment across the entire business –- people, the entire technology stack, just decades of neglect, and so it’s hard to turn around a brick and mortar retailer that’s under the kind of pressure that GameStop was and continues to be under, but that was also part of the attraction going into GameStop was that a transformation the likes of GameStop was really unprecedented and I was motivated by that." -- Ryan Cohen (November 2022)

GameStop has made substantial efforts to upgrade and modernize its online store and enhance its overall omnichannel experience. This has included investing in a more user-friendly and mobile-responsive website, streamlining the checkout process, and improving product availability and search functionality. Additionally, the company has integrated buy-online-pickup-in-store and same-day delivery options.

In September 2023, Ryan Cohen became the CEO of the company. In December 2023, the board approved a new investment policy which gave Ryan Cohen the authority to manage the company's investment portfolio.

In March 2024, the company reported full-year profitability for the first time in 6 years.

In 2024, the company completed 3 at-the-market equity offering programs, raising approximately $3.5 billion in cash, raising the book value per share of GME to nearly $11.

"with respect to retail operations, we plan to continue reducing costs and focusing on profitability... This means a smaller network of stores with an expanded assortment of higher value items that fit into our trade-in model." -- Ryan Cohen, 2024 annual shareholder meeting (June 17, 2024 )

In 2024, GameStop began selling new original products such as Candy con controllers and the Raptor 8 mobile gaming controller.

In addition to the release of new original products, GameStop has also expanded into the graded trading card market.

  • On October 15, 2024, GameStop announced a collaboration with PSA, becoming an authorized PSA dealer, with PSA providing authentication and grading services for trading cards through select GameStop stores across the United States.
  • On November 18, 2024, GameStop announced that Nat Turner, Chairman and CEO of Collectors Holdings, Inc., has been appointed to the Company’s Board of Directors.

The turnaround of GameStop has been in progress for about 3 and a half years, depending on when the precise start point is.

A look at the core financial metrics shows significant improvements to the financial standing of the company.

GameStop has raised cash and eliminated practically all of the debt that it had. Now holding a large pile of cash, the company earns interest income rather than paying interest on debts.

GameStop continues to close more stores every year, a trend that began before the initiation of the company turnaround. As GameStop closes more stores, the revenue continues to decrease, as does the SG&A expenses.

While operating income has seen significant improvement, it remains negative.

comprehensive article with links

View original on lemmy.whynotdrs.org
11
Comments
drs_your_gme·DRS Your GMEbyjergy

GameStop ATM equity offering versus share value (May 1 to May 24)

On May 17 GameStop announced plans to sell up to 45 million shares, and on May 24th they announced that all 45 million shares were sold for $933 million, at an average price of about $20.73.

Modifying shares outstanding from 306 million to 351 million is an approximately 15% dilution. A shareholder could have expected the value of their own share holdings to have dropped 15% from this action, but shareholder value hardly went down at all as a consequence of the dilution and in fact is up about 75% from May 1 to May 24.

View original on lemmy.whynotdrs.org
18
Comments
anticensorship·Anti-censorshipbyjergy

r/GME does not allow any linking to DRSGME.org

was trying to post something to r/GME and had used a page on the DRSGME.org website as a source.

Specifically, it was the 2023 stockholder list viewing page that I had wanted to use a source because it is a good source. It is pretty much the only source of data that GME shareholders have that provide numbers about DRS versus DSPP. An imperfect, out-of-date set of data, sure, but it's all we've got.

Turns out, r/GME will not allow any linking to DRSGME.org.

Why would that be?

A free information website built by GME shareholders for other GME shareholders and anyone else, is not permitted in the r/GME subreddit. Huh?

View original on lemmy.whynotdrs.org
7
Comments2
gme_timeline·gmewikibyjergy

GameStop Completes At-The-Market Equity Offering Program

cross-posted from: https://lemmy.whynotdrs.org/post/1495550

May 24, 2024

GRAPEVINE, Texas, May 24, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has completed its previously disclosed “at-the-market” equity offering program (the “ATM Program”).

GameStop disclosed on May 17, 2024 that it filed a prospectus supplement with the U.S Securities and Exchange Commission to offer and sell up to a maximum amount of 45,000,000 shares of its common stock from time to time through the ATM Program. The Company sold the maximum number of shares registered under the ATM Program for aggregate gross proceeds (before commissions and offering expenses) of approximately $933.4 million.

GameStop intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments.

https://news.gamestop.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1Open linkView original on lemmy.whynotdrs.org
5
Comments
drs_your_gme·DRS Your GMEbyjergy

GameStop Company Ownership as of May 24, 2024

image source

"Held at" DTC versus Computershare

As of March 20, 2024 there were 305,873,200 shares of GameStop's Class A common stock (GME) outstanding.

"Of those outstanding shares, approximately 230.6 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.3 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares)."

  • 25% of issued shares of GME are owned by directly registered shareholders

  • The other 75% is held by Cede & Co on behalf of the DTCC

As of May 24, 2024, GameStop completed an at the market equity offering, and sold 45,000,000 shares, increasing the total amount of shares outstanding to approximately 351,000,000.

DRS vs DSPP

Information about DRS versus DSPP counts held at Computershare are not reported publicly.

This information is available, however, on the GameStop stockholder list which can be viewed in person at GameStop headquarters.

The latest data we have was from 2023 when GME shareholders viewed the stockholder list and obtained some data including DRS vs DSPP counts. Source: https://www.drsgme.org/2023-stock-list-viewing

The DRS vs DSPP numbers in the graphic have been rounded for simplicity based off the data from that 2023 source.

Of shares held by Computershare: 53 million DRS, 22 million DSPP.

View original on lemmy.whynotdrs.org
20
Comments2
drs_your_gme·DRS Your GMEbyjergy

GameStop Completes At-The-Market Equity Offering Program

May 24, 2024

GRAPEVINE, Texas, May 24, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has completed its previously disclosed “at-the-market” equity offering program (the “ATM Program”).

GameStop disclosed on May 17, 2024 that it filed a prospectus supplement with the U.S Securities and Exchange Commission to offer and sell up to a maximum amount of 45,000,000 shares of its common stock from time to time through the ATM Program. The Company sold the maximum number of shares registered under the ATM Program for aggregate gross proceeds (before commissions and offering expenses) of approximately $933.4 million.

GameStop intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments.

https://news.gamestop.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-1Open linkView original on lemmy.whynotdrs.org
19
Comments2
anticensorship·Anti-censorshipbyjergy

Einfachman canceled by Reddit

cross-posted from: https://lemmy.whynotdrs.org/post/1455429

when superstonk isn't a problem, Reddit is.

Apparently, with no warning or justification, prominent superstonk poster of many years was spontaneously banned after having written this post titled: We’re Not In MOASS Territory (yet)

https://old.reddit.com/r/Superstonk/comments/1cta7bw/important_message_by_that_ein_man_that_fachs_mods/Open linkView original on lemmy.whynotdrs.org
2
Comments
drs_your_gme·DRS Your GMEbyjergy

GAMESTOP to the MOON - How Reddit almost triggered an Economic Crisis | FD Finance - a review

Noticed this post on reddit, decided to give this >40 minute documentary a watch.

A review of GAMESTOP to the MOON - How Reddit almost triggered an Economic Crisis | FD Finance

★★☆☆☆

2/5, would not recommend.

TLDR: documentary focuses primarily on the events of late 2020 and early 2021, conflates AMC and GME as equivalent things, concludes with the insinuation that all AMC, GME, and NFT investors are losers that have lost almost everything

  • Title of the documentary does not match the content of the documentary. A more appropriate title might have been "the story of Reddit day traders pumping AMC and GME." That is what this documentary was about.
  • paints most of these investors as either foolish day traders or naive investors, uses words like "gambling", "casino"
  • lots of FUD sentiment throughout
  • a few of these investors made a lots of money while most investors were losers
  • 32:04 "GameStop led the way. And, as a group, the totality of the group picked AMC next.
    And, it wasn't like somebody said oh man we're all gonna go over to AMC, it's just kind of you know, that's where the flow goes, that's where the chatter goes, and AMC was the next stock."
  • for some reason, out of nowhere, in the final 5 minutes the documentary suddenly starts talking about NFTs and makes them out to be pointless. Doesn't mention GameStop's relationship with NFTs but in stead focuses on how NFTs were a speculative bubble with foolish investors, just like with AMC and GME.

Total waste of time. I don't know who the intended audience was for this, but this is just more pointless narrating about the lives of people that experienced events that happened 3 years ago, concluding that the story is over and all those people that didn't get out with gains are losers that are never going to win.

It's as if the media like this is stuck in the year 2021. Reddit. Wallstreetbets. AMC. GameStop. Day traders. Robinhood. Down 90% since peak. The end.

View original on lemmy.whynotdrs.org
10
Comments1
gme_timeline·gmewikibyjergy

The April 2024 state of financial media versus GameStop being profitable for the first time in 6 years.

GameStop was profitable for the first time in 6 years

GameStop reported full-year profitability for fiscal year 2023, contradicting the prevailing media sentiment that GameStop is a terrible company destined for bankruptcy

Summary

  • On March 26, 2024, GameStop released financial results for the fourth quarter and fiscal year ended February 3, 2024, demonstrating small but not insignificant full-year profits for the first time in 6 years, despite reduced revenues. "Net income was $6.7 million for fiscal year 2023, compared to a net loss of $313.1 million for fiscal year 2022."
  • Sentiment of GameStop found in financial media continues to be negative, dishonest, and cynical, despite the undeniable but often ignored improvements to the fundamentals of the company that have been achieved by the new management team. In most cases, the fact that GameStop was profitable for the first time in 6 years is not even mentioned at all.

Historical context

From a historical point of view, GameStop was consistently profitable every fiscal year from 2005 through 2016, with the exception of 2012. Starting in fiscal year 2017, GameStop began showing reduced profitability, and from FY 2018 through FY 2022, was unprofitable.

Source: GameStop 10-K filings - Google Sheets

Looking exclusively at revenue, it is clear that there has been a significant reduction starting approximately with fiscal year 2019. Much of this can be attributed to the fact that gamers are increasingly buying games digitally rather than in the form of physical discs such as can be purchased at a brick-and-mortar retail store like GameStop.

Yet, even in fiscal years 2017 and 2018, it is clear that despite high revenues the company was not performing well.

Heading through 2020, GameStop was undeniably a struggling company facing significant challenges, and according to many was destined for bankruptcy. The trading price of GME reflected this prevailing sentiment, and the financial media was dutifully critical.

Company turnaround

In 2020, activist investor Ryan Cohen began purchasing shares of GME, ultimately becoming the largest individual owner of the company with approximately 12% ownership. By June 2021, the entire board of directors of the company was replaced by Ryan Cohen and his associates, with Ryan Cohen becoming chairman of the board. From this time onward, control of the company was completely in the hands of this new leadership team.

"We inherited a bunch of legacy everything, and under-investment across the entire business –- people, the entire technology stack, just decades of neglect, and so it’s hard to turn around a brick and mortar retailer that’s under the kind of pressure that GameStop was and continues to be under, but that was also part of the attraction going into GameStop was that a transformation the likes of GameStop was really unprecedented and I was motivated by that."

The company went from a situation where it was losing hundreds of millions of dollars per year to net profitability in fiscal year 2023.

While this is an undeniably positive result for the company in this time period, GameStop continues to face numerous challenges and must continue to improve and adapt in order to successfully compete in the modern video game industry.

Media sentiment

What does mainstream financial media have to say about GameStop achieving full-year profitability for the first time in 6 years?

Searching for recent news about GameStop yields mostly negative sentiment that fails to even mention at all that GameStop achieved full-year profitability for the first time in 6 years.

Failing to mention this important detail is a deliberate decision that reveals a clear bias in the media. It goes beyond just reporting about true negative facts about GameStop. It demonstrates a deliberate effort, by those culpable writers and media outlets, to propagate a specific sentiment about the company that is not allowed to even mention contextually important true positive facts about the company.

GameStop was profitable for the first time in 6 years - this is the news headline that captures the significance of GameStop's recent earnings report. Yet, an unassuming person who consumes mainstream financial media likely would not even learn about this important fact at all.

Who would benefit from that?

Ongoing financial conflict

Why are there competing, mutually exclusive narratives?

There are competing narratives because there are competing financial interests.

One of the listed news articles, GameStop saga ends. Winner: capital markets, from Reuters, draws some attention to this ongoing conflict while declaring that the conflict is actually over and one side has won and one side has lost.

GME shareholders that believe in the company turnaround and leadership, despite the real challenges faced by GameStop, have a vested financial interest in the success of the company, with a desire for the share price of GME to go up, and naturally will promote the narrative that supports this financial interest.

In opposition to GME shareholders are all of the financial market participants that have a vested financial interest in the share price of GME going down. An example of such a participant would be any hedge fund that has a net short position on GME. The article refers to this faction as "shorts", recogonizing that such a faction with an interest does exist. Naturally, members of this faction will promote the narrative that supports their financial interest.

If the prospect of GameStop's success was not an ongoing threat to one faction of incumbent market participants, then there would be no reason to deliberately omit the fact of GameStop's profitability, to pretend that it isn't something that even happened at all.

Recognizing that there is an ongoing financial competition between factions that stand to benefit financially from a particular outcome of the GME share price, which faction benefits when most mainstream financial media articles propagate negative sentiment about GameStop and deliberately ignore the contextually significant fact that GameStop was profitable?

It is clear: much of mainstream financial media is actively propagating biased narratives to the benefit of the faction that has a vested financial interest in the share price of GME going down.

An interactive version of this article can be found at gmetimeline.org/fy23-profitability

View original on lemmy.whynotdrs.org
-1
Comments
drs_your_gme·DRS Your GMEbyjergy

The April 2024 state of financial media versus GameStop being profitable for the first time in 6 years.

GameStop was profitable for the first time in 6 years

GameStop reported full-year profitability for fiscal year 2023, contradicting the prevailing media sentiment that GameStop is a terrible company destined for bankruptcy

Summary

  • On March 26, 2024, GameStop released financial results for the fourth quarter and fiscal year ended February 3, 2024, demonstrating small but not insignificant full-year profits for the first time in 6 years, despite reduced revenues. "Net income was $6.7 million for fiscal year 2023, compared to a net loss of $313.1 million for fiscal year 2022."
  • Sentiment of GameStop found in financial media continues to be negative, dishonest, and cynical, despite the undeniable but often ignored improvements to the fundamentals of the company that have been achieved by the new management team. In most cases, the fact that GameStop was profitable for the first time in 6 years is not even mentioned at all.

Historical context

From a historical point of view, GameStop was consistently profitable every fiscal year from 2005 through 2016, with the exception of 2012. Starting in fiscal year 2017, GameStop began showing reduced profitability, and from FY 2018 through FY 2022, was unprofitable.

Source: GameStop 10-K filings - Google Sheets

Looking exclusively at revenue, it is clear that there has been a significant reduction starting approximately with fiscal year 2019. Much of this can be attributed to the fact that gamers are increasingly buying games digitally rather than in the form of physical discs such as can be purchased at a brick-and-mortar retail store like GameStop.

Yet, even in fiscal years 2017 and 2018, it is clear that despite high revenues the company was not performing well.

Heading through 2020, GameStop was undeniably a struggling company facing significant challenges, and according to many was destined for bankruptcy. The trading price of GME reflected this prevailing sentiment, and the financial media was dutifully critical.

Company turnaround

In 2020, activist investor Ryan Cohen began purchasing shares of GME, ultimately becoming the largest individual owner of the company with approximately 12% ownership. By June 2021, the entire board of directors of the company was replaced by Ryan Cohen and his associates, with Ryan Cohen becoming chairman of the board. From this time onward, control of the company was completely in the hands of this new leadership team.

"We inherited a bunch of legacy everything, and under-investment across the entire business –- people, the entire technology stack, just decades of neglect, and so it’s hard to turn around a brick and mortar retailer that’s under the kind of pressure that GameStop was and continues to be under, but that was also part of the attraction going into GameStop was that a transformation the likes of GameStop was really unprecedented and I was motivated by that."

The company went from a situation where it was losing hundreds of millions of dollars per year to net profitability in fiscal year 2023.

While this is an undeniably positive result for the company in this time period, GameStop continues to face numerous challenges and must continue to improve and adapt in order to successfully compete in the modern video game industry.

Media sentiment

What does mainstream financial media have to say about GameStop achieving full-year profitability for the first time in 6 years?

Searching for recent news about GameStop yields mostly negative sentiment that fails to even mention at all that GameStop achieved full-year profitability for the first time in 6 years.

Failing to mention this important detail is a deliberate decision that reveals a clear bias in the media. It goes beyond just reporting about true negative facts about GameStop. It demonstrates a deliberate effort, by those culpable writers and media outlets, to propagate a specific sentiment about the company that is not allowed to even mention contextually important true positive facts about the company.

GameStop was profitable for the first time in 6 years - this is the news headline that captures the significance of GameStop's recent earnings report. Yet, an unassuming person who consumes mainstream financial media likely would not even learn about this important fact at all.

Who would benefit from that?

Ongoing financial conflict

Why are there competing, mutually exclusive narratives?

There are competing narratives because there are competing financial interests.

One of the listed news articles, GameStop saga ends. Winner: capital markets, from Reuters, draws some attention to this ongoing conflict while declaring that the conflict is actually over and one side has won and one side has lost.

GME shareholders that believe in the company turnaround and leadership, despite the real challenges faced by GameStop, have a vested financial interest in the success of the company, with a desire for the share price of GME to go up, and naturally will promote the narrative that supports this financial interest.

In opposition to GME shareholders are all of the financial market participants that have a vested financial interest in the share price of GME going down. An example of such a participant would be any hedge fund that has a net short position on GME. The article refers to this faction as "shorts", recogonizing that such a faction with an interest does exist. Naturally, members of this faction will promote the narrative that supports their financial interest.

If the prospect of GameStop's success was not an ongoing threat to one faction of incumbent market participants, then there would be no reason to deliberately omit the fact of GameStop's profitability, to pretend that it isn't something that even happened at all.

Recognizing that there is an ongoing financial competition between factions that stand to benefit financially from a particular outcome of the GME share price, which faction benefits when most mainstream financial media articles propagate negative sentiment about GameStop and deliberately ignore the contextually significant fact that GameStop was profitable?

It is clear: much of mainstream financial media is actively propagating biased narratives to the benefit of the faction that has a vested financial interest in the share price of GME going down.

An interactive version of this article can be found at gmetimeline.org/fy23-profitability

View original on lemmy.whynotdrs.org
30
Comments