GameStop Might Die
GameStop has been suffering for a long time now. This news then should come as no surprise to anyone. GameStop has come out with the truth that they are looking for a potential transaction. This is in the midst of a Reuters leak. Sycamore Partners is one of the private equity firms that has expressed interest in GameStop. Shares of the Grapevine, Texas-based company rose as much as 11 percent to $15.50 on Monday on news of the interest, having been up 2.5 percent earlier in the day. The stock was up 9 percent in late afternoon.
To be honest, they never adjusted to the market. As a result their business dies. Solutions? They should have setup weekly in-store game competitions. Work out deals with devs to allow games played in-store the week before release. Fostering the gaming community instead of always taking advantage. My take is this, why should I shell out $500 for a console with limitations? I can build my own desktop PC for around $1000-1200. It easily outperforms the $500 consoles and does more than gaming.
There is no certainty that a sell will happen. With the growing competition in the space it would be a miracle for them to thrive. You have Amazon which sells games. Gamers have the ability to digitally download games. The popularity of downloading from the internet is increasing by the month.
Here is what people say online:
Caption this! pic.twitter.com/PoSn8FhNNg
— GameStop (@GameStop) June 19, 2018
So People responded in kind:
What my system is worth vs GameStop trade in value
— Derek (@ImDerek1) June 19, 2018
So Kid you Have 30 games you want to trade in I will give you $10.50 for them and if you are an elite member $11.00 do we have a deal?
— WECKLESS™ (@_WECKLESS) June 19, 2018
Big Dinosaur: We’ve lost billions in the 2017 fiscal year. Little Dinosaur: That’s what happens when you don’t evolve to better serve the customers. A reluctance to change to times causes a fluctuation and shift in the market. Get ready to close out #gamestopsucks
— Gameboy (@fatgameboy) June 19, 2018
As you can see their communication and interaction with the population is not a very happy one.