What a Ride
January kicked my ass.
The GameStop saga will be one for the ages. Suffice it to say, I disregarded my own advice, especially perhaps the #1 Rule: if it’s good enough for a screenshot, it’s good enough to sell. Alas, I am still in the game (Stop), scalping premium on option trades instead of cashing out where I had originally planned to exit. Canceling that limit order – and taking the subsequent screenshot – is going to haunt me for a while. Which is good, because I need to be reminded from time to time what happens when you abandon your own exit strategy.
Stock aside, I still stand by my earlier post about GameStop the company. News out yesterday indicates that they’re creating* a Chief Technology Officer position and slotting in the former Amazon engineer lead for Amazon Web Services. They’re also bringing over the the Director of Customer Service at Chewy to be the Senior Vice President of Customer Care. Finally, they got a guy who was doing fulfillment at Amazon and Walmart to be Vice President of Fulfillment. None of which means anything to anyone here other than the fact that there’s now a chance that GameStop can pivot away from being Pawn Stars and towards being some combination of Micro Center and… something else. Maybe like a comic book store hosting Magic: the Gathering tournaments?
Or maybe they’ll fall on their face, Chuck E Cheese style.
In any case, don’t worry, this will be the last GameStop post I do this year. Next time we reconvene on the subject, perhaps we’ll be talking about how the company has gotten into the digital license reselling market, how it rents out VR/AR rooms by the hour (and the predictable downsides to that), or the partnership with Geek Squad in custom building PCs onsite.
Or perhaps I won’t mention it at all, seeing as how we’re 1 month into 2021 and I’m already exhausted.
*It’s telling that GameStop didn’t have a Chief Technology Officer position until just now. We all knew it was mismanaged, but that mismanaged?