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GameStop stock closes week down 19%

GameStop's stock concluded the trading week down 19 percent, attributable to continuing investor concerns over Xbox One's used games market solution.

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Starbucks_Fan2511d ago

The Xbox One actually did something positive for the gaming community...

Cupid_Viper_32511d ago

I absolutely love what is going right now...

Gamestop agressively pushed the Xbox 360 to consumers this gen, and went to great lengths to sort of mislead and suppress people from buying a PS3. I've personally experienced this when my,then manager, told countless customers inquiring about the PS3 that it had "no games" and "no voice chat".

And now, the same company that they banked on is getting ready to FCUK them in the arse.

"No Honor Among Thieves"

"GameStop: Bankruptcy Awaits?" we'll See.

MysticStrummer2511d ago

Yeah my local GameStop shamelessly pushed 360 on people this whole generation. I bet they're regretting that these days.

Maddens Raiders2511d ago (Edited 2511d ago )

Cupid_Viper I travel extensively and saw this practice from coast to coast. It didn't matter if I was in Poughkeepsie or Phoenix all of the people that worked at GameStop for the past 7 years seemed to have been "properly versed" in how to dismiss the PS3 gaming system and software.

I hate to say it b/c I'm a business person, but I'm glad to see this karmatic action coming back to bite them in the arse!

+bub

Boody-Bandit2511d ago (Edited 2511d ago )

Cutting out the middle man is exactly what MS and "some" publishers want. Job loss regardless is a bad thing and should not be celebrated or turned a blind eye on. I don't shop at Gamestop either but I told my wife the minute the X1 reveal was over that companies like Gamestop and Gamefly would be hit the hardest.

Now just imagine how many jobs would be lost if digital download was to eventually take over. Where are we going as a society? Are we going to never leave our homes and have everything brought to us instead of fending for ourselves? Seriously, people need jobs and not have them taken away by corporate greed.

Although I do agree with the sentiments against Gamestop. That's why I stop shopping there ages ago. But still I don't want people losing their jobs, karma or not.

RandomDude6552511d ago (Edited 2511d ago )

Lol....gamestop just got bent over by their best friend Microsoft.

Edit: to cherchez below. I'm going to sell my car this year, so I should give money to Honda?

rainslacker2511d ago

I stopped buying at gamestop during the PS3 release because I was literally called stupid for not wanting a 360 when picking up a PS3 game.

I went back about a year ago, and the people at the new store are pretty awesome, and now I visit there regularly because it's right across the street from my house.

There has been some mention that GameStop may actually benefit from this if it's only big retailers who can take in trades. Because no retailer is bigger than GameStop when it comes to trades and they would benefit the most. Some reports are making it look like the most convenient option, which to many it already is, but to many it's not worth it. So it may not be the vindication you're looking for.

+ Show (2) more repliesLast reply 2511d ago
LeRise2511d ago (Edited 2511d ago )

There's a petition on Change.org already:
http://www.change.org/en-GB...

It's called "Microsoft: To listen and to take notice of what their consumers want from them"

maxgamehard2510d ago

M$ doesn't listen to consumers or their fans. They only listen to their wallets

Cherchez La Ghost2511d ago

Gamestop should just gave a cut to publishers for used games in the beginning.

SexyGamerDude2511d ago (Edited 2511d ago )

It's not like if GameStop wasn't here the Devs and Publishers would have gotten more money. People would sell and trade games with each other if GameStop was there or not.

dcbronco2511d ago

But that would be right. Gamestop has no desire to do that.

dirthurts2511d ago

Why should game developers get a dime from used games?
I don't sent GM a check when I sale off a used car.

dcbronco2510d ago

GM makes a large profit on a car and a car degrades over time. A game doesn't so they are very different situations. That has never been a good comparison.

Whether or not there was a time when Gamestop didn't sell used games doesn't matter. Most of their profit is from used games and they are actually the largest seller of new games. Now if they feel they aren't making enough money on those new copies they should address that with the publishers. But to cheat customers in order to pad their pockets is about greed, not providing a service or survival. If you make most of your money from used games and selling extended warranties, you're not a real business. You're a snake oil salesman.

rainslacker2511d ago (Edited 2511d ago )

If it weren't GameStop, it'd be someone else. They turned to used games so much because they were failing selling mostly new. Did you know there was a time that GS and EB Games didn't take trade ins? I do, and their stores were pitifully stocked and you were lucky to get more than 2 copies of the biggest game release in one store. Did you know other retailers followed suit because of how much profit there was in used games? Those retailers are no more innocent, but much less hated.

There just wasn't enough profit in it. Maybe if gamers were willing to spend more for their games GS could make a profit and wouldn't sell used games. But no, we can't have that now can we? It's hard to turn the mirror on oneself, so it must be the evil GameStop. GS gets a lot of hate, but look at it logically. If there were more profit in new games, then used games would be an afterthought.

In the end, GS just facilitates a transfer that all of us have enjoyed since video games began. They allowed us to sell our property in a convenient manner. This isn't even just video games we have enjoyed this on, it's with everything we own that holds any monetary value.

Publishers are taking the monetary value out of their products and selling us a lease to use the game for as long as they feel we are eligible to hold the license. What we're paying for is a service, not a product. The eventual conclusion to this model is finally rearing it's ugly head, and people are finally pissed off about it, when they should have done so long ago before it ever started.

+ Show (1) more replyLast reply 2510d ago
Supermax2511d ago

I don't feel bad at all wait till you hear about the next big thing Sony doing the same thing except they won't let you know about till right up to the release.

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