Month: February 2021
In this clip from What’d You Miss? on Bloomberg TV, GMEdd.com co-proprietor Rod Alzmann speaks with Bloomberg’s Caroline Hyde, Romaine Bostick and Joe Weisenthal about how GameStop has surged more than 140% in the past two days alone, putting it on pace for its biggest weekly gain since January. Analysts cited a Tweet by activist investor and GameStop board member Ryan Cohen posted shortly before the stock started surging on Wednesday, suggesting some may see it as a message to resume buying.
Is the machine broken? ¹
Ryan Cohen has broken his month-long silence, beginning before the insane price volatility sparked by RC Ventures being awarded three seats on the board.
At 1:57 PM on February 24th, 2021, Cohen tweeted an image of a well-lit McDonalds Ice Cream Cone, accompanied by a frog emoji.
Ryan Cohen’s Tweet on February 24th 2021.
Reverse image searching reveals that the photo was taken by Irene Jiang of Business Insider, so unfortunately, Ryan was not enjoying the cone himself. This also reveals that the tweet is not an update on Cohen’s life, but yet another cryptic message.
Yesterday, GameStop’s CFO resigned amid incompatibility with the transformation and insider complaints.
The photo is from a Business Insider article titled ‘McBroken,’ about a 24-year-old engineer created a website that tells you if your McDonald’s has a working ice-cream machine.
What does it mean? The $GME community has some theories:
No matter what, we can all agree on something within the next few days…
February 25th Editorial Update: As pointed out to us by GMEdd reader Daniel, uploading the soft serve photo into tineye.com’s reverse image search and sorting by oldest reveals that the photo was first used in a Business Insider article titled, “I ate soft serve from 7 major fast-food chains, and the winner surprised me,” by Irene Jiang.
¹ The cover for this article was later updated
Looks like Ryan Cohen is trimming his Twitter following again. The Chewy founder has unfollowed Electronic Arts, Call of Duty, and EASPORTS, who he had added to the list on February 5th. Ryan Cohen has retained the followings of Steam, Xbox, and PlayStation, the largest gaming platforms today.
Alongside this, Cohen remains following Elon Musk, PCGamer, Geekwire, and GameStop.
We’ll be sure to post an update when Ryan Cohen fills these open seats on his following with some new profiles.
Dave vs Vlad LIVE #DDTG https://t.co/7ZlsOQmsuZ
— Dave Portnoy (@stoolpresidente) February 24, 2021
Dave Portnoy of Barstool Sports and head of DDTG Global is currently having a live debate with Vlad Tenev, CEO of Robinhood, over collusion concerns around the choice to limit buying on GameStop.
The management overhaul by RC Ventures continues, as GameStop announces the resignation of Chief Financial Officer Jim Bell.
GameStop Corp. (NYSE: GME), today announced that Jim Bell, Executive Vice President and Chief Financial Officer, will be resigning from his roles on March 26, 2021.
The Company has initiated a search for a permanent Chief Financial Officer with the capabilities and qualifications to help accelerate GameStop’s transformation.
Upon further research, Jim Bell’s page on the GameStop Corp. website states that
Prior to joining GameStop, Jim served as CFO and interim CEO of Wok Holdings, Inc., the parent company of P.F. Chang’s, Pei Wei and True Food Kitchen restaurants.
Safe to say he isn’t exactly what GameStop is looking for as they move forward towards a digital-first business model.
Evan Smith, VP of Marketing at GameStop, shared a job listing on LinkedIn looking to recruit for a Manager of Email and SMS Marketing position. Nothing too out of the ordinary, but his caption is intriguing.
Hello! Starting a hiring frenzy in 2021. This one is currently recruiting and more to come. Contact me directly with any questions.
Upon visiting the ad, the “About Us” for GameStop Corp. states that the company is a digital-first omni-channel retailer. This is a strong shift from simply stating “omni-channel,” which was the norm in the past.
Visit careers.gamestop.com to view the rest of the job listings
Forbes has published an article titled, “GameStop’s New Outlook,“ and while it does not go nearly as in-depth into the RC Ventures takeover as we do, any constructive fundamental talk about GameStop is always appreciated.
GameStop’s fundamental expectations are improved. The key ingredient is the enhanced focus on a growth strategy, spurred by the new, committed board members and fostered by new management additions capable of improving on a known brand name.
Isn’t it crazy that it’s news when the media finds out what we’ve been covering for months? At least they’re beginning to get it.
The article also covers some different views of GameStop’s stock action, starting with a monthly chart from 2007 (logarithmic scale) and a daily chart from July 2020 (logarithmic scale).