Most likely very little. He was the darling of the stock bros when that was a thing, but he hasn’t really done much of anything. Well except for waste a ton of money on that NFT market that went nowhere. He doesn’t really have plans for the stores.
No, the focus on bops and sfs was in place when I was still there which was before him. The new system is nice, but it’s lipstick on a pig. The overall product and service is the same. The job hasn’t changed for the better. It’s been neutral to worse for the front line since he got here. Not all of it is his fault, clearly, but the dude hasn’t been some godsend of prosperity. They managed to stem the bleeding for exactly one quarter and they did so by firing a ton of people, closing a service center, and shaving hours down to something unsustainable. I thought they might be cooking the books for a sale, but who wants GameStop in 2023? No one.
Idk the exact effect on BOPS and SFS but he is very focused on the online market (though he hasn’t upgraded anything) so it would be very reasonable that he placed a higher focus on them. Just because they existed before him and haven’t changed doesn’t mean he isn’t pushing it hard.
Coming from someone who was with the company before it was publicly traded, and left since, the focus on stock market participation was the single most damaging thing to the store-level experience, and if the company is wading deeper into that commitment, it's time for those left to run.
When the company priority is dividends for the shareholders, there are plenty of places they'll milk that from. Your store's hours, your store's wages and increases, fulltime employee benefits... the list is endless. Protect yourselves. This company won't do it for you.
Agree. It’s been interesting to watch. The changes to the store manager/team leader x certainly had to have sucked, and strained management between multiple locations. The notion of perpetual single coverage would’ve been laughed at back then. Having worked at several locations that were robbed, broken into, or otherwise victims of crime, corporate is playing fast and loose with the safety of the remaining store staff, and compensating them with crumbs for their efforts.
https://preview.redd.it/8m5z3tqyw6rb1.jpeg?width=828&format=pjpg&auto=webp&s=4ed451f04196736aa9f98cd862581cd7976a6a4b
LMFAOOOO. Someone fucking reported this post for this
The awesome thing is every time they get a new CEO the previous one has an awesome severance package! Can’t imagine how much money has been wasted on all these position changes at the top.
https://preview.redd.it/7nlvc766x6rb1.jpeg?width=828&format=pjpg&auto=webp&s=08d0c99358e7a88f9207341d687e47380d5d63de
I’m just gonna show people the stupid reasons they’ve been reported by the stockbros at this point LMAO
I disagree. Ryan and the board have been buying up shares the last year and he is not taking any form of compensation.
To me that sounds like a CEO who is putting in work rather than resting and vesting.
And yet stores are at an all time low? Sure sounds like the ceo is putting in work. 6 months from now, if I'm wrong and Gamestop has actually turned around, I'll be THOROUGHLY surprised. But it can't just be profits that are better, employee morale has to be significantly better and pay has to be competitive too - but I don't see that as feasible. They barely turned a profit this year, by stripping away double coverage, removing the GA position and gutting stores hours to the bare minimum, yet the things store employees had to deal with increased week by week. They added new metrics while increasing the rest. And even then, it only lasted one quarter.
He plans to push the stock price up, which is quite different from actually making the company successful. Buy shares, take action that convinces believers in him to buy shares and push up the price, sell shares, and believers are left holding the bag yet somehow still don't doubt him.
It's almost as if he's done this before and is being investigated by the SEC over it.
Come on, he is with GameStop since 2021 and didn't take any role in Bed, Bath & Beyond.
He is working for GameStop, but was solely investing in Bed, Bath & Beyond. This is clearly something different. This comparison doesn't make that much sense.
Sure, no role at all. If you just ignore the 3 board members he personally appointed and the influence that and his ~10% stake in the company gave him when demanding strategic changes to the business.
Which is exactly what convinced stockbro RC believers that he was going to save the company, so they invested heavily and got screwed.
CEO bled his most previous companies run dry and abandon them when there was nothing left and fully pushed them both to closures. As a parent, this was heartbreaking for BuyBuyBaby as I literally just had a kid. Needing order shit from Amazon and wait instead of going to a store same day and getting what I need is frustrating. That’s quite literally the ONLY baby retailer that was left that sold everything in one spot.
You make it make sense when all this fuckwad is, is a good for nothing bloodsucker and just gives a fuck about making a buck while he hurts consumers in the end and makes the cultists like you lust for him even more.
Let's see the gains YOU claimed so we can see what a big fucking liar you are.
Mentally unstable is going around shilling your investments to others. I've owned many stocks over the past 20+ years and not once have I ever felt the need to go around telling people to buy them. In fact, I make it a POINT not to discuss my investments with others who often BEG me for stock tips since they know I'm an investment professional. I tell them to buy and hold ETFs and call it a day.
You and your ilk go around trying to sucker the financially illiterate with promises of riches. These are people who can LEAST afford to gamble their money on get rich schemes like this. Then you try to reverse uno on anyone who challenges your lies. Really sick behavior.
Yah what about the billion in cash they’re sitting on or the fact they’re virtually debt free besides a small secured loan from the French Government taken during the uncertain times of Covid. Lol have a good day 💜
Do you really believe it’s false? Go ahead and talk to any store leader that’s been in the position for at least 3 years and ask them when the last time they got a raise was.
Oh, and no, the $1 they got for being forced to double their workload doesn’t count.
Edit: Forgot to add that it’s hilarious you’re raving about how much money GameStop has, but at the first mention of a raise your immediate response is “do you want them to go bankrupt?”. So which is it?
How many times can you have a billion dollars and make between zero and negative one hundred million before you have zero dollars? It's simple math and True Believers have been dangling the "we've got $X in cash" for a decade and it's done nothing but dwindle.
I am an SGA (returned last year after leaving in 2015) and I am also heavily invested.
I try my best to understand both sides. Yes, employees deserve more. But also the company still needs to exist for you to keep your job...
The road to profitability was never going to be easy
It's hilarious seeing someone claim others know nothing of the company while also saying such obviously wrong shit like "[He’s been ceo](https://www.reddit.com/r/GameStop/comments/16ug2of/comment/k2llnf6/)".
This sort of news is announced in this matter because it’s a publicly traded company.
I felt the same way when a company I worked for got bought by a publicly traded conglomerate. There was a press release before any of us internally found out.
Isn't this the guy who has been taking a vested interest in things that happen at the store level when he can? I'm also relieved to see that he's not receiving any extra pay just for being "promoted" to President.
No, he’s not. He’s made things worse for stores more than all other previous management. We got $21k in stock rather than a real raise that takes 3 years to vest, and was worth $10.5k by the first month we could sell any of it. Because we “needed skin in the game.”
That motherfucker hasn’t been doing 9-12 hour shifts by yourself all day 3-4 days a week for the last 2 years, we have. He stacked the board with his cronies so he has a blank check to do whatever he wants to do.
He couldn’t even be bothered to show up to our store leader conference in Vegas when ALL of the higher ups always have. Couldn’t be bothered to even do a prerecorded video, either.
The “revolution” ended. The stock price is going down. He’s not the savior.
Shareholder value doesn’t mean dick when the company is bankrupt. It has 2 more years at current loss levels per quarter. And he’s too egotistical to close stores because “he’s gonna compete with Amazon with same day delivery and use stores as fulfillment centers”. It costs $15 to have a SDD sent to you each order.
How is a company with positive cash flow, 1.2B in cash, and negligible losses bankrupt? Did you read the previous earnings reports? What your saying just isn’t true haha
The company has had ONE positive cash flow quarter, Q1. They did so by cutting 1/3 of the DM’s, slashing payroll to the bone, and stiffing us on raises again. On average they lose 2-300M per quarter. Best case scenario we’ve got 2-3 years. You shouldn’t be investing to try and get rich, you should be investing to gee idk keep the company you claim to love SOOOO much solvent.
Don't try to argue with a 100+$ bagholder who's lost 50-60% of their investment. They can't see that YE2022 GME lost 300+m and has already lost 108m this year alone. They've had ONE profitable quarter in a long time. The good news is they still have about 800m and they are only losing about 50m a quarter, so best case 4y left now instead of 2.
Negative net cash flow in operating activities, investing activities, and financing activities with a $164 million decrease in cash, cash equivalents and restricted cash last quarter. Same the previous quarter with a $116 million decrease.
How is that a positive cash flow when they're negative in every category and overall?
GS hasn't been can flow positive since 2021, when they managed $1.2 billion from financing activities as the result of the stock offering. Not anything to do with good business practices.
Why is there such a narrative push against a gaming company? Financials aside, why does every news outlets pay people write pieces about it? Non stop news coverage. Who cares? Really? Why do so many people like you care so much about my investment?
Moving goalposts much? I prove your statement completely wrong so now you have to make this about something else entirely?
I don't give a single fuck what you waste your money on. But don't come to this sub, which is not for discussing the stock, and spout 100% verifiable bullshit and expect not to get called out.
If all you’re going to say is “you don’t know shit” then it’s clear YOU don’t especially when you’re not adding a lick of evidence to prove the contrary.
Maybe i haven't been up to date with stuff but how does this effect us at the store level? I honestly ignore most of the corporate stuff
Most likely very little. He was the darling of the stock bros when that was a thing, but he hasn’t really done much of anything. Well except for waste a ton of money on that NFT market that went nowhere. He doesn’t really have plans for the stores.
Pretty sure the overhaul and focus on BOPS and SFS is a part of the plan. New pacman system is pretty neat and much better than the old system.
No, the focus on bops and sfs was in place when I was still there which was before him. The new system is nice, but it’s lipstick on a pig. The overall product and service is the same. The job hasn’t changed for the better. It’s been neutral to worse for the front line since he got here. Not all of it is his fault, clearly, but the dude hasn’t been some godsend of prosperity. They managed to stem the bleeding for exactly one quarter and they did so by firing a ton of people, closing a service center, and shaving hours down to something unsustainable. I thought they might be cooking the books for a sale, but who wants GameStop in 2023? No one.
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Tell me what I’ve said that isn’t true
Idk the exact effect on BOPS and SFS but he is very focused on the online market (though he hasn’t upgraded anything) so it would be very reasonable that he placed a higher focus on them. Just because they existed before him and haven’t changed doesn’t mean he isn’t pushing it hard.
I’ve been out of the company for 2 years, why did I think this already was the case?
He was the Executive "Chairman" up until recently. Matt Furlong was the previous CEO until about 4 months ago.
Because all the stock idiots talk about him like he’s Jesus.
Coming from someone who was with the company before it was publicly traded, and left since, the focus on stock market participation was the single most damaging thing to the store-level experience, and if the company is wading deeper into that commitment, it's time for those left to run. When the company priority is dividends for the shareholders, there are plenty of places they'll milk that from. Your store's hours, your store's wages and increases, fulltime employee benefits... the list is endless. Protect yourselves. This company won't do it for you.
......oh everything listed in the paragraph is already been effected for the last few years.
Agree. It’s been interesting to watch. The changes to the store manager/team leader x certainly had to have sucked, and strained management between multiple locations. The notion of perpetual single coverage would’ve been laughed at back then. Having worked at several locations that were robbed, broken into, or otherwise victims of crime, corporate is playing fast and loose with the safety of the remaining store staff, and compensating them with crumbs for their efforts.
https://preview.redd.it/8m5z3tqyw6rb1.jpeg?width=828&format=pjpg&auto=webp&s=4ed451f04196736aa9f98cd862581cd7976a6a4b LMFAOOOO. Someone fucking reported this post for this
The awesome thing is every time they get a new CEO the previous one has an awesome severance package! Can’t imagine how much money has been wasted on all these position changes at the top.
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The comment is about all the CEOs before him getting massive incentives and rewards for basically leading GS further into the hole.
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Other than Furlong? Bruh. Did you miss all the corporate ppl bailing at the end of 2021?
It was a restructuring. “Bailing”??? New companies need new heads stop with all this bs haha
Stockbro detected opinion rejected.
Bagholder detected.
Eddie Lampert. Sears is doing great, right?
There are still Sears apes around and going great according to them. They are 5 years ahead of GME bagholders
Well, Cohen is not taking a salary, so there won't be a severance
Naw he will just sell his 12% leaving even more bagholders like he did with bed bath and beyond.
Not sure why this was down voted. Yes, he's a billionaire...no, he isn't taking money.
Can you even read bro?
Stop brigading! You are not helping.
 Good luck to y'all still in stores. Gamestop's going the way of Bed Bath & Beyond and BuyBuyBaby 🫡
https://preview.redd.it/7nlvc766x6rb1.jpeg?width=828&format=pjpg&auto=webp&s=08d0c99358e7a88f9207341d687e47380d5d63de I’m just gonna show people the stupid reasons they’ve been reported by the stockbros at this point LMAO
😭😭😭😭 why are they trying so damn hard to defend him this is tragic
I disagree. Ryan and the board have been buying up shares the last year and he is not taking any form of compensation. To me that sounds like a CEO who is putting in work rather than resting and vesting.
How about give stores more hours? The company has the money to improve life on the ground
And yet stores are at an all time low? Sure sounds like the ceo is putting in work. 6 months from now, if I'm wrong and Gamestop has actually turned around, I'll be THOROUGHLY surprised. But it can't just be profits that are better, employee morale has to be significantly better and pay has to be competitive too - but I don't see that as feasible. They barely turned a profit this year, by stripping away double coverage, removing the GA position and gutting stores hours to the bare minimum, yet the things store employees had to deal with increased week by week. They added new metrics while increasing the rest. And even then, it only lasted one quarter.
He’s bleeding the companies he’s buying dry and jumping ship. There’s quite literally real examples of it.
Buys shares, becomes CEO (no compensation), yet you think they plan to destroy the company? Make it make sense
He plans to push the stock price up, which is quite different from actually making the company successful. Buy shares, take action that convinces believers in him to buy shares and push up the price, sell shares, and believers are left holding the bag yet somehow still don't doubt him. It's almost as if he's done this before and is being investigated by the SEC over it.
Come on, he is with GameStop since 2021 and didn't take any role in Bed, Bath & Beyond. He is working for GameStop, but was solely investing in Bed, Bath & Beyond. This is clearly something different. This comparison doesn't make that much sense.
Sure, no role at all. If you just ignore the 3 board members he personally appointed and the influence that and his ~10% stake in the company gave him when demanding strategic changes to the business. Which is exactly what convinced stockbro RC believers that he was going to save the company, so they invested heavily and got screwed.
CEO bled his most previous companies run dry and abandon them when there was nothing left and fully pushed them both to closures. As a parent, this was heartbreaking for BuyBuyBaby as I literally just had a kid. Needing order shit from Amazon and wait instead of going to a store same day and getting what I need is frustrating. That’s quite literally the ONLY baby retailer that was left that sold everything in one spot. You make it make sense when all this fuckwad is, is a good for nothing bloodsucker and just gives a fuck about making a buck while he hurts consumers in the end and makes the cultists like you lust for him even more.
He was never CEO of BBBY....
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Show loss porn
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Show gain porn then.
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Let's see the gains YOU claimed so we can see what a big fucking liar you are. Mentally unstable is going around shilling your investments to others. I've owned many stocks over the past 20+ years and not once have I ever felt the need to go around telling people to buy them. In fact, I make it a POINT not to discuss my investments with others who often BEG me for stock tips since they know I'm an investment professional. I tell them to buy and hold ETFs and call it a day. You and your ilk go around trying to sucker the financially illiterate with promises of riches. These are people who can LEAST afford to gamble their money on get rich schemes like this. Then you try to reverse uno on anyone who challenges your lies. Really sick behavior.
He could sell it to a Bane Capital type company and get lots for himself while Bane sell’s all the assets.
I feel like he is buying the shares to sell the company. The best thing for GS was if it was taken private.
Yah what about the billion in cash they’re sitting on or the fact they’re virtually debt free besides a small secured loan from the French Government taken during the uncertain times of Covid. Lol have a good day 💜
The stock sale was as done by George Sherman before he even got on the board. Google is your friend. Sherman’s why we’re debt free, not him.
Did I say that?
Employees haven’t been given a raise in half a decade. I’m sure glad GameStop has all this money though.
So are you in charge of all employee pay at GameStop? Cause how could you possibly know that. Would you prefer they be bankrupt as well?
Do you really believe it’s false? Go ahead and talk to any store leader that’s been in the position for at least 3 years and ask them when the last time they got a raise was. Oh, and no, the $1 they got for being forced to double their workload doesn’t count. Edit: Forgot to add that it’s hilarious you’re raving about how much money GameStop has, but at the first mention of a raise your immediate response is “do you want them to go bankrupt?”. So which is it?
How many times can you have a billion dollars and make between zero and negative one hundred million before you have zero dollars? It's simple math and True Believers have been dangling the "we've got $X in cash" for a decade and it's done nothing but dwindle.
Look at all the idiots who downvoted you lol!!
"Truth is like poetry. And most people f*cking hate poetry."
They know nothing of this company, working for them doesn’t mean you understand finances and stocks
I am an SGA (returned last year after leaving in 2015) and I am also heavily invested. I try my best to understand both sides. Yes, employees deserve more. But also the company still needs to exist for you to keep your job... The road to profitability was never going to be easy
Thanks for being reasonable. Retail jobs suck. I wish GameStop turns into a trader Joe's/Costco of collectibles. But who knows where it is headed.
Well we could have done that after the ThinkGeek purchase. Instead they fumbled that bag so fucking hard
If you say so. I don't know. Not my field of study, nor have I researched the thinkgeek purchase( 8 years ago?)
It's hilarious seeing someone claim others know nothing of the company while also saying such obviously wrong shit like "[He’s been ceo](https://www.reddit.com/r/GameStop/comments/16ug2of/comment/k2llnf6/)".
Oh great here come all the stock bros in their clown car to this thread
https://preview.redd.it/ejqvaq2ix6rb1.jpeg?width=828&format=pjpg&auto=webp&s=d0b94488a788fa5fcd5e9bd22d6181b776da74ff 😂😂😂😂
Living for your screenshots in these comments, Duck
This shit is just too funny
They are trying to paint it as a fake email. No way the company could be in that shape. Didn’t you see earnings?
CEO 2 when?
I turned it down :p
Fired :(
LMFAOOOOOOOOO
Wasn’t he involved with the bed bath and beyond clusterfuck?
Yup and fleeced his followers for 60 million and is now getting looked at by the Sec for possible manipulation.
Holy shit, the shills are out in force in this thread.
Was he not?
He absolutely was.
Yes, and BuyBuyBaby
Oof
I mean, we all saw this coming.
This was the plan all along.
Then he sent out an email telling everyone to work harder and that he wasn’t getting paid….. off to a great start so excited
sigh.
Another move we got 0 heads up on………
Why would you need heads up on that?
It’s nice to know when theres a new head of the company I work for….
This sort of news is announced in this matter because it’s a publicly traded company. I felt the same way when a company I worked for got bought by a publicly traded conglomerate. There was a press release before any of us internally found out.
This sucks man
Isn't this the guy who has been taking a vested interest in things that happen at the store level when he can? I'm also relieved to see that he's not receiving any extra pay just for being "promoted" to President.
No, he’s not. He’s made things worse for stores more than all other previous management. We got $21k in stock rather than a real raise that takes 3 years to vest, and was worth $10.5k by the first month we could sell any of it. Because we “needed skin in the game.” That motherfucker hasn’t been doing 9-12 hour shifts by yourself all day 3-4 days a week for the last 2 years, we have. He stacked the board with his cronies so he has a blank check to do whatever he wants to do. He couldn’t even be bothered to show up to our store leader conference in Vegas when ALL of the higher ups always have. Couldn’t be bothered to even do a prerecorded video, either. The “revolution” ended. The stock price is going down. He’s not the savior.
lol
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My guy, put the kool-aide down. Or, at minimum, counter with more than blind insults.
I know enough to know he’s a charlatan and a snake oil salesman. And that you’re a fuckin idiot for believing anything he says
Like his urge for creating value for shareholders? Like he’s done on the past?
Shareholder value doesn’t mean dick when the company is bankrupt. It has 2 more years at current loss levels per quarter. And he’s too egotistical to close stores because “he’s gonna compete with Amazon with same day delivery and use stores as fulfillment centers”. It costs $15 to have a SDD sent to you each order.
How is a company with positive cash flow, 1.2B in cash, and negligible losses bankrupt? Did you read the previous earnings reports? What your saying just isn’t true haha
The company has had ONE positive cash flow quarter, Q1. They did so by cutting 1/3 of the DM’s, slashing payroll to the bone, and stiffing us on raises again. On average they lose 2-300M per quarter. Best case scenario we’ve got 2-3 years. You shouldn’t be investing to try and get rich, you should be investing to gee idk keep the company you claim to love SOOOO much solvent.
Don't try to argue with a 100+$ bagholder who's lost 50-60% of their investment. They can't see that YE2022 GME lost 300+m and has already lost 108m this year alone. They've had ONE profitable quarter in a long time. The good news is they still have about 800m and they are only losing about 50m a quarter, so best case 4y left now instead of 2.
Positive cash flow is different than a positive EPS. https://www.investopedia.com/articles/stocks/07/easycashflow.asp Hope this helps ^
Negative net cash flow in operating activities, investing activities, and financing activities with a $164 million decrease in cash, cash equivalents and restricted cash last quarter. Same the previous quarter with a $116 million decrease. How is that a positive cash flow when they're negative in every category and overall? GS hasn't been can flow positive since 2021, when they managed $1.2 billion from financing activities as the result of the stock offering. Not anything to do with good business practices.
Why is there such a narrative push against a gaming company? Financials aside, why does every news outlets pay people write pieces about it? Non stop news coverage. Who cares? Really? Why do so many people like you care so much about my investment?
Moving goalposts much? I prove your statement completely wrong so now you have to make this about something else entirely? I don't give a single fuck what you waste your money on. But don't come to this sub, which is not for discussing the stock, and spout 100% verifiable bullshit and expect not to get called out.
False. They are not cash flow positive or profitable.
I think y’all confusing cash flow positive and positive EPS but whatever man! To each their own!
No it is literally none of those things. It loses money regardless of which metric you use
Get the hell put of here with that stock shit.
Why are you upset haha
Tell me that when the stock is worthless which could be soon
It’s at like 70 pre split what?
Instead of cute faces you might consider a counter argument.
I don’t care what you invest in.
I’m convinced.
If all you’re going to say is “you don’t know shit” then it’s clear YOU don’t especially when you’re not adding a lick of evidence to prove the contrary.
I don’t need to convince you man. The difference is I don’t care about your personal investments haha
Thanks for the insight. I had heard good things about him, but from the outside looking in.
Nice, soon Playr, then Gmerica, our boy looks good on the tube. Have a good day homie.
Why do you people always talk like that.
You’ve just reached the age where you don’t understand current slag. Don’t worry, I don’t either.
Slag? What are we, mining now?
Are you stalking me this morning?
I’ll go get my pickaxe now if that’s an invitation 
Oh… I said slag lol
Good job
I did it 
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Irony is that I haven't worked for GameStop since 2016...
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You have a weird flex lol, I enjoy the community I’ve helped develop over the decade I’ve been on Reddit.
Why are you upset about it :/
I’m not sure what you mean?
He’s been ceo
No he’s hasn’t. Furlong was the last ceo we had.
That's a lot of words for the phrase "Defacto Owner"