GameStop Stock - MAY Knows - Thurs 9/12/2024 - W/ Marantz Rantz

[Music] welcome to my Ranch France ah welcome to my Ranch France no advice on finance spin the wheel and take a chance get an NM and the little education the system got under to that knowledge is flation you want to learn while you came to right place you pumping AMC might get slapped in the face get to do diligence know who the villain is don't be a sheep when the Shepherds Carnivor is so come learn laugh and maybe you win big and listen up y'all the wheel is not rigged everybody get a chance in the live chat tooto spin wheel you win just like that retail fight pack and this retail winning y'all just wait man this is just a beginning all fellow Sans gme group singing the truth we just chilling infinity pool women so welcome to Mor ranch ranch a lot of knowledge but no advice on finance don't even need pants you can tune a Ned like Hy the Mayo man internet's most hated don't want to lose your money then it's time for you to listen if you're ignorant invest in MC assum position the stream about ready they told us to Don't Dance I do what I want welcome to my ranch ranch welcome to my Ranch rch welcome to mychc Toc to mychch to my Ranch toch to my Ranch to my Ranch to my Ranch welcome back guys welcome back we had a lot of fun last night tearing apart Tony or not Tony Dao not yet my bad Bros I thought it was Tony daero it was uh who was that guy tono native no wasn't him either it was um oh yeah Richard Newton my bad Bros so that was last night tonight's a new night just want to say shout out to you guys thank you to Moran's uh what is the guy's name here guys you guys say the name for me Moran's big I don't know how he knows I don't know who sent him the the the dick pick I don't know who did it Adam Aaron he passing around my pictures so this guy went ahead and uh bless the Channel with $100 amazing thank you so much for the Super Chat what am I going to do with it I'm going to give it back you already know how it works guys everything comes out to this channel actually goes back to the kids back to the people on the street whenever we do our street interviews I started doing that about two months ago I realized there's a bigger purpose here I had some money saved up and what I do with my money well I gave it to an employee who was passing away and unfortunately she did and uh but it went to her family now it's fine I had a nice little Nest Egg I was giving to myself it's going to be GameStop shares didn't matter to me and then I said you know what I just need to do this more often I need I need to give away stuff because in my heart the more I give the better I feel it's just who I am so I'd rather have nothing I'd rather have pennies in my pockets and I'd rather have everyone have a rocket right ready to rub and you know go to the Moon that's what I see GameStop doing so we're going to talk about it tonight because last night yeah we tore up everyone who was talking bad about GameStop in in a sense you know Richard Newton has zero conviction his investment guys want to attack me in the chat Mar he's a good guy yeah we all are good guys until we're not until we give up on the investment and we lose conviction now the next guys I want to talk about tonight we're actually going to follow somebody new tonight we're actually going to watch a video tonight and I'm going to go over it and we'll see what it says I have not watched this video guys just telling you now I just cue him up I haven't watched him we'll watch it together I'll react I'll say something maybe I won't who knows but it's going to be the Tony daero and may interview that they did last night now you know Marcus with May if you guys are not familiar she came onto the scene when game when AMC announced ape and she started telling you how it was a good thing and it was like impossible for me to understand because we all knew that it was an equity split as in it took the equity out of the shareholders hands and every investor lost every they ever put in I still don't know how AMC promoting people people that promote AMC the stock I don't know how they're breathing today I don't know how they how they walk and talk or anything I mean this video with Tony Dao and Marcus may you would think it would have more views 700 views in a day I mean come on Tony you got 20 something thousand followers I don't understand I did a video last night I got 3,000 people to watch it's onethird of my following one one4 of my following yeah and they don't even want to watch this guy Richard Newton to put him to sleep they were already asleep and I did it late last night but right now I'm up early I'm up early to watch what you guys have to say about GameStop or what the lack thereof but we'll go on it from that point anyway um yeah we scared uh I don't want to say we scared him oh a you're back you're back a that fast what what in the world bro you're the guy who's not welcome to the chat I don't yeah you're supposed to be hiding it says unhide user from this channel no no no he's done guys if you come in here talking your nonsense if you came in here to be a a bear that's one thing we can be you can be Bears against a stock you can have a stance you can talk to me but don't be a meltdown there's a big difference there if you're a meltdowner if you know what meltdowns are you know who they are uh the guys who attack me personally too bad so sad shout out to two dudes that I want to give a shout out to uh The Three Amigos as we call them myself and those two dudes and I don't know the dance of the Amigos I just know they would do this stuff and then they would Pat themselves and they look to the side and go huh that's about it but that's going to be car's corner pocket my man dayite uncore 41 those are two YouTubers that I want people to watch they don't get a lot of following they should because they talk GameStop and that say but it's hard to come up in the world to GameStop and the fact that they don't push out any other content just GameStop that's the type of dudes that I like to see and because I know I know what it is out here in this world of social media I know that people want to push out top 10 stocks this week oh this is what I'm buying all that crap no no no guys I'm GameStop only 100% that's where I'm at and that's where I'm going to be from tomorrow the next day and the next day the next day it's a great investment it's best investment but we'll talk about more on it so just shout out to those two dudes give them all the love in the world if you guys can go give them a click give them a view do what you do Adam and Eve were the first ones to ignore the Apple terms and conditions if you guys don't know that that's that see I I don't even know who sends me these damn messages bro like oh my God it's so F it's hilarious hilarious yeah Will glass coffins be a Thing Remains to be seen hilarious hilarious get the hell out of here with these hilarious jokes I don't have time for it anyway 100 bucks yeah thanks man I don't know what we're going to do with it we're going to throw it up in the sky all ones all ones and Tony don't worry you can make a clap all right guys we're going to look at something really quick I'm going to show you guys some we're going to go over some smart stuff tonight I hope I don't I don't know what video they made I don't really care but we'll do the other stuff first so guys let's look at GameStop today com coming in at $20.40 we looked at the chart if you guys weren't looking at the charts here oh look at that chart still looks amazing that's not the chart people are looking people are looking at the daily chart Mars and you're zooming out and looking at the damn weekly yeah I look at the weekly guys I look at what's consolid and I call it getting tight tight tight getting tight tight tight and I got the tool to break through it right here GameStop pushing through like you know it would this is just a tight hey stocks go up down or sideways but in our case up and to the right and it's going to keep happening this way so I look at the minute chart recovered a lot had a hell of a day just to be right there I bought um today I bought buy orders guys it was in the Discord I put it in I bought 1% I increased my percentage in GameStop 1% so I bought eight shares today so eight shares today means a lot for me you know if anybody knows I buy one share a day today was not that day I went for eight of them and why because I wanted to hit a solid number I now have a YOLO update for you at 800 shares uh that's where I'm at but what I was looking at on this was this is stock analysis.com and it kind of gives you a run on what GameStop is and it's wild when you really think about GameStop having a $102 um Book value and then you go and look at something like this where the forecast for stock analysis for GameStop just happens to be one analysis there's only one analyst okay one analy that covers GameStop just like there's only one YouTuber that covers GameStop per se like you know to the to the death of it I'm not putting any shade on Carter and uh and dite but I'm just saying I'm the one guy that these guys all take my word for you know I guess for truth and I'm talking about Tony daero Tony daero hi I'm looking at you through the mic tonight because I know you're watching that's the difference here Tony while you chuckle and laugh and you suck on a cigar as you look at me and you like it I know you watch you know how I know you watch because I've seen your videos and you use my same terms you use the words that I use use the phrasing that I use when you can come up with an idea of your own then I want to see you make the video before me make the video Drop the content before I do I guarantee you you can't because nothing you say is original I've been doing this long time baby 3,000 videos is no joke hours and hours and hours of dedication selfless service to the nation and you you still salute with your left hand I saw it in I saw it in a video once but let's think about this right here $10 a price Target do you guys know what Tony Dao's price Target was at one point on GameStop the same $7 $3 just like noisy corax just like Marcus with May and anyone else but it all stems from the same analyst and that's Michael Packer the only one who covers GameStop is Michael Packer Michael Packer gives you his analysis of GameStop and says that it's going to maintain the price target of 11 now down to $10 and the rating is a sell I have the date of when it was released this was two days this was yesterday when he said it's gone from 11 to 10 GameStop has $4.2 billion they are raising additional capital and you're telling me it's only worth $11 a share now 10 the book alone is worth more than that not to mention what we're worth but Michael I ask you Michael you're you're a I guess you're the only one who's ever covered GameStop in the last four years why is it that GameStop's price Target went from $6 to 11 to 14 that's 100% increase can you justify that can your position justify that I'm looking at this you were at $5 at one point $5 in 2023 you were at $30 down to $7 was that the split $11 to7 $6 you were at $3 you and Edward woo now anybody know who Edward Woo is right here from uh ascendant Capital guys Edward Woo is co-workers with Michael packer at wedbush they work together they've both worked for the same firm wed Bush what do they come up with strong sale sale maintains and downgrades and during 2021 and the runup of GameStop what were they saying the price Target was $9 or $13 a share what was GameStop guys at the time $210 a share I'm trying to tell you who these guys are but more so than just telling you who they are let's go ahead and click on what they are Michael how you doing out of all the analysts in the world out of 4561 you're ranked number 873 but you're the only one out of those 4,500 that covers GameStop guys this is how real this world is I want you to understand guys there are 4,500 analysts out there in the world and only one covers GameStop this dude this is why no one's buying this why institutionally Andor you know the baby boomer they don't know what GameStop is I talked to a person today she literally goes my brother is a very educated man he's an engineer he's this he told me stay away from Gamestop he won't even help me by it and I talked about it because you talk about it morance and I told him well my buddy at work you know he he buys GameStop and he's like yeah well he's idiot am I I'm an idiot how many how many millions of people buy GameStop or own billions of dollars worth of it a lot of people own GameStop so I'm trying to figure out who's the idiot here because there's only one analyst who covers GameStop because the other ones are not allowed to this analyst just happens to be short GameStop that's the difference but beyond that look at this it was it was mindboggling to me dude that every single position you have you are up on you are up you're up on cinemar Holdings and the way you give the price Target it's it's up byy bye byy whatever you've said you've maintained all of these positions and all of them are in the plus with the exception of your GameStop prediction your GameStop prediction is not in the plus side it's the only thing and I I don't even know what this one is because I have to upgrade to get it I'm just going to the ones that I can see you're Plus on everything green you're amazing Trader there Michael Packer you're amazing analyst but why do you get GameStop so wrong why is it that GameStop is the one you have wrong and you've been wrong for years and nobody nobody holds you to it you said to sell it here sell it here sell it here sell it here I mean is that when you sold it you've given out 17 ratings on GameStop and you're wrong by more than 50% right now some analyst you are let's talk about this really quick here's a website guys gamestop.com here's the PSA graded cards you guys know I go to this website I check it out reason why I tell you is because this is how I track inventory a lot of people don't understand inventory and I do so we're at 4,000 items they were just at 3,800 earlier today so they're increasing decreasing increasing it's churning inventory the thing about inventory which is so important and this is why you don't get fixated on inventory numbers you know when I was talking about inventory to you guys earlier I said you know uh Freight changes it comes in you don't have the storage space for it so the overall number of inventory should change on any given business it's not just oh look how much they sell and look what they didn't sell or look at how much inventory they're carrying over to the next quarter they're prepping you can't prep for the next quarter if you don't have the facility to hold the inventory and or you don't have a lot of inventory on hand because you're churning inventory the inventory ratio matters and it usually based off of how much inventory you carry over quarter to quarter on average versus your total cost of goods sold What's the total cost of Revenue so if we sold $6 billion with the products okay I'm just giving you a number and it cost us $4 billion to sell it right we have $4 billion worth of goods that's $2 billion worth of gross profit which we'll get into that part but that $4 billion of product that we sold and we only carry over 400 million of inventory that means we're we're 10x we're literally a 10.0 company meaning we can churn the amount of inventory we have on hand 10 times throughout the year do you guys get the ratio now you get how it works that's how you evaluate companies GameStop is high on ratio compared to other retail companies GameStop's almost 6.0 6.0 on on annual revenue for the inventory they carry over great number phenomenal number a Home Depot esque really is um Walmart Costco of course those monsters beat everybody they're like 18 13 that frame but if you can get in the sevens sixes and sevens you're golden you're golden you and you'll create a profit so I hope people know this stuff because we've gone over this before in other videos and who knows who knows if people really know what the hell they're talking about when it comes to inventory but I'll just leave it alone um let's go and watch the video now am I going to read any chat while I'm here with you guys I just want to say thank you again for all the support of the channel um there's plenty of you guys here you guys will figure it out you guys have any questions you know where to find me um or ask questions bro we all have badass Investments here just know that yes we do let's go Ahad and learn though huh let's go learn and see what these guys are talking about but before I do the man who invented knock knock jokes should get a no Bell Peace Prize wow wow I can't get that two seconds back I can't oh [ __ ] oh face your mother would love here's the two here's the two characters Tony daero the guy who um doesn't have a clue as to what he's talking about half the time and markets with May the one who snuck her way onto the scene who I told you was Private Equity I told you she's Wall Street uh there's no doubt in my mind I've seen her classes that she sells for $500 to a $2,000 a piece and she's talking about AMC like you're going to give me Financial advice and I'm going to pay for it and you're giving out information on AMC shame on you may shame on you but for whatever reason these two AMC Pumpers want to do videos on GameStop GameStop earnings do they even own GameStop I sold it I made a profit I bought back in I sold it I brought their price Target is $7 $10 what are we talking about why would you be buying it at these levels why are you selling and buying and what what are you doing once again [ __ ] but let's go ahe and uh let's go and figure it out together let's hear some nonsense together I'm down hey how are you doing 911 how sad right yeah yeah people forgot I guess but I I still remember exactly where I was that day they're talking about 911 and she's laughing how sad huh it's like are you serious right now Lady this is how out of dep by the way I'm playing them at one .5 cuz I can't take it at 1.0 they're too slow they think too slow they talk too slow I can't do it all right guys welcome May how are you doing oh 911 how sad right yeah yeah people forget I guess but I I still remember exactly where I was that day uh I remember two things hell you space shuttle blew up I was walking on campus at UT Austin I know exactly the spot I was standing on and uh when 911 happened I was about to leave my neighborhood to go to my corporate job and I I just turned around I didn't even get on the road to the highway my corporate job when did you join the military are you 90 years old Tony you were in the military you had a corporate job you built chicken coops and you're an actor and then somewhere down the you became a you I don't know you've lived a thousand lives turned around went back to my house and I just watched TV all day yeah like so horrible paralyzing isn't it it was so paralyzing it's pretty horrible yeah I was in the sear Tower and um we evacuated and then um I was working for uh the man so to speak deers that you know and yeah she was working for the man I already told you she works for Wall Street and you know what in Chicago guys Ser Tower but you know what's in Chicago uh the CME so they're all about options manipulation this is her I'm surprised I'm pretty sure she worked for Citadel then because that's what's in Chicago I don't know if they're in Sil Tower at the time but Chicago I remember they sent a message that we should um continue working because it was not a paid day off and oh hell no I swear to God I was that was probably why you know I've chosen another employment but I think subsequently they probably have felt really stupid for that but I spent the rest of the day rescheduling meetings strangely enough in making sure people had rides because my coverage at that time was through all the Midwest so it was a really weird and then I just was in shocked for like the next 24 hours I can imagine I mean it watching on TV I can't even imagine being this is crazy I was in the like Chicago Chicago yeah so the last plane though they say was headed there but we were you know we owe a lot I was thinking Empire State Building when you said hard yeah your brain just kind of like crosses all the big I never lived up that way may I just visited I've been to Chicago New York twice for vacation so yeah neither have I and the last plane wasn't going to the Sears Tower May calm down oh this is crazy talk here we go we've got some folks that remember when JFK was killed yeah these big days and these big events but we're here to keep it who remers when JFK was killed oh what old ass people are watching this show right now oh my God push play on that Tony daero video I remember where were you in the world stop turn in on that November day we were there in Dallas and we were watching people say that it was Lee Harvey Oswald with one rifle and we knew that he didn't do it he was just dumb yeah I don't know I don't know who's watching this [ __ ] all right here you go like we're gonna talk about GameStop do you have a drink M we might need it to get through this yes why does she need a drink to get through this Tony what is it that you guys are getting at this guy Tony gives Tony guys a bad name bro oh look at Marcus with May her drinks already gone May that little ass glass of wine girl oh my Tony she's drinking that Tony because she got to look at you bro that can you imagine Tony daero just getting it on with this lady I can't either don't worry it's almost gone like I'm halfway through my Corona but I got only Wednesday only Wednesday but it's Friday somewhere yeah it's true right I'm gonna well that's that's what I'm going with anyways somebody's Friday somebody only works certain days how the hell is is it Friday what the hell did he say it's Friday somewhere no it's not it's 5:00 somewhere it's Friday nowhere this happened yesterday yesterday was Wednesday the hell Tony we got the GameStop second quarter results May uh it's my fault for us being late tonight guys because I've been working I've been working on what was supposed to be my quick GameStop summary video and I decided oh everybody has a lot of questions on X Y and Z so let me talk about that let me talk about that let me talk about that get who's everybody who watches Tony daero for GameStop info I'm confused right now nobody's asking you questions Tony not a single and you know why it takes you forever to do your videos you know why because you're waiting for somebody else to finish their video and beyond that Tony De nuts the other part about this is edits and cuts you know I could make a GameStop video just straight up just be like hi everybody welcome back welcome back to mirand rant plenty good information a little bit of motivation a whole lot of Truth No Financial advice so quarter two numbers are in for GameStop and they came in at $798 million for the quarter now I know that's down from $ 1.64 billion but that doesn't matter because the sgna was only 33.9% of the actual total revenue and they had a gross profit north of 31% so for this quarter GameStop actually netted a profit of $1 14.8 million considering the interest raise was $ 39.5 million they actually now have a cash position of over 4.2 billion and a share sholder Equity position that states them at $102 per share Book value shareholder Equity is what we call it in addition to that guys the last part about this is GameStop is Raising additional funds by selling 20 million shares to the public we don't know when the offering is going to be complete but I'm excited about this turnout of events here this is what we have to look forward to GameStop raising money doing the right thing when no one's watching just keep stacking it high watching it fly I love GameStop best investment you've ever seen in your life it's GameStop can't stop won't stop GameStop Tony daero how did I do that no edits no Cuts all the info here oh my God you have to cut it up I know don't hey bro this is a talent it's not just a show all these questions knocked out for people that don't want to watch a live and hang out yeah but I was having trouble getting uploaded anyways it just uploaded about one minute before we started so uh if you don't want to hang out for live that is an option but we are here to just talk about this at a high level to answer questions at a high level are you high are you high that's the only way this is a high level conversation about GameStop the hell a high level I'm teach me Tony teach me high level serly more importantly may I I got the impression this is why I reached out to you I saw you tweet about the GameStop earnings and you and I haven't talked about this but I got the impression from the tone of your Tweet you had more to say oh is that what you got the tone of her tweet it's written in text how is there a tone in text and besides that here's the question in the chat here uh you say why do they need additional money if they already have 4 billion and making 40 million in treasuries okay I didn't say 40 million in treasuries I said interest you don't know how that interest came about secondly um why do they need more Capital why not how hard do you think it is to raise money I'll let you look at it look around the world who else is offering up percentages of their of their float for cash who can do that nobody can nobody can only GameStop can cuz the red flag is GameStop keeps allowing people to get into the company they just keep magnifying the problem the problem is it's not shorts okay stop it stop the nonsense okay stop all the [ __ ] I'm not here for your your your mo ass I'm here for the fundamentals do you know what the problem is that it's undervalued that it's not evaluated correctly the valuation that they give you Wall Street gives you is not correct for GameStop I've already told you this I've told you this for four years don't worry I'm right they're wrong you know how you know I'm right look at the channel look at the channel and it'll tell you you wouldn't be here meltdown you wouldn't I could be wrong it be noisy cor noisy cor's got four people viewing right now and two of them are in this chat so I don't know what the hell's going on with these people but I know they're all wrong I know that for a fact keep stacking the money keep understanding for all you guys that keep saying well why did they do why did they why did they offer more shares ask yourself why you go back to work every day even though you have money in your pocket all your bills are paid but yet you still keep going back keep stacking when Gamestop has 10 billion cash I don't want to hear you say but they keep offering up shares they have1 billion and that's a real number it's really gonna happen it's really gonna happen love this I love this oh yeah you know I feel like subsequently there's been a lot that's been published but my initial reaction you know I I don't I don't do much on GameStop because because you know the thing is he first of all he doesn't have a call so there's nothing to really comment on if you if you take that and try to compare to financial statements which is the style that I do right for you it's a little different for others it's a little different but for me my style is to try to um really try to articulate what I'm seeing in the financial statements plus what management is saying they're strategically trying to do uh that said on all the mem stocks that said that's why you can't give out any analysis of the company because you're trying to read people for what they say versus what they do GameStop doesn't say anything that their numbers do the talking so how about you interpret the company for what the numbers say may may we do that or here's what my assumption is and you're going to tell me if I'm right America tell me if I'm right right now and I want to just say America but morance R crew you guys tell me if I'm right okay shout out to the 51 gang tell me if markets with May doesn't come off as amateurish and what I mean by amateurish is this she's here talking about GameStop and she doesn't have a clue about GameStop like she doesn't know it she's just talking about it that's my assumption every time I've heard her talk about GameStop she can study AMC all she wants she does zero due diligence when it comes to GameStop but then she has an opinion let's see if I'm proven right I'm gonna watch the video with you because there's so much like fake news there's so much really nasty venomous ways that people talk about it forgetting that a lot of people just put their money here and this is their investment I do like to just monitor it to see and I would say that the thing that I think I posted that kind of got taken in a crazy way is that this earnings report um especially in the context of the past few years of earnings reports really doesn't show what I would have expected it to show by the third and fourth quarter which is some sort of positioning ahead of the holiday season we'll stop right there why would they show positioning for the holiday season what they usually do in the third and fourth quarter uh this is the second quarter may this is the second quarter GameStop traditionally if you study oh wait I'll do it for you since you don't know what the hell you're talking about we'll go right here here's GameStop okay call me crazy financials let's go to uh balance sheet we could do that let's go ahead and look at uh inventory inventory big ass number name inventory let's go and look at it right here traditionally quarterly is this quarterly let's go to the quarter number here quarterly Mrs getting prepped for third third and four the dumbest [ __ ] I've ever heard they never Quarter Two Stack Up on inventory Quarter Two again over here never stack up you know when they stack quarter three right before Christmas right before Black Friday right before Cyber Monday is this news to you or do you not know how retail Works hold on let's do it again inventory again quarter three not Quarter Two no what the hell quarter three that's when they stack inventory so right before I don't understand somebody help me here my brain hurts where does she come from where did she come from hold I'm to go one more time there's a quarter three right here inventory am I crazy here 800 million compared to 400 million the quarter before that's because pandemic e-commerce only but still 800 versus what you see 800s here anywhere quarter four maybe and that's because of you know Christmas but even then you go to quarter three right there in 2020 I bet you I bet you 1.2 billion look at that may you don't know what you're talking about oh my goodness May did you really just say that hold on I gotta go back real quick five let's see what she says hold on really doesn't show what I would have expected it to show by the third and fourth quarter which is some sort of positioning ahead of the holiday season the only thing it really seems to demonstrate is that he's continuing to pair the business down pretty aggressively and like it's almost like he's hollowing out like the words I used that really I think ended up being quite triggering for some people is it it really feels like he's hollowing out the company to make it a container for someone else to buy the container and that can okay let's talk about this before we get stupid um hollowing out the company and making a container for someone else to buy the container well I'm sorry to tell you this may but there is a legacy side of this business but there's this big elephant in the room and it's called $4.2 billion worth of cash so unless someone's coming in to buy the cash what are you talking about reverse merger or merger which one cuz backing it in the container itself what are you buying name image and likeliness you're buying the dot part of it GameStop has $4 billion girl that's right I don't care what company you bring along no one has a better branding and image than that why would we give up our $4 billion doll into who see this is what I have to tell you America GameStop's going to pair up with somebody they're going to pair up with somebody one day they might even buy out people but GameStop's not the business that needs to change Wall Street these guys the meltdowner they need to change they need to change their outlook on what this company's doing they do not understand retail they don't and I'm not talking about retail investors I'm talking about retail the business they don't have a clue is the e-commerce Omni Channel they don't have any idea every time I hear her talk what the hell is she talking about have some you know if Buy itself like if you have no other information and so I'll give you other possible positives later but if you have no other information all things being equal that's typically done in a way that's not necessarily fair to the folks that you're diluting as you're doing that asset raise um and the buyer might be really stoked about that and you could I mean if if the if the because it it almost looks like a so the I think the the real term for it is it looks like it's trying to become a reverse merger uh container that's what it right RSE merger means that the company that you're buying actually is a Better Business and for whatever reason they want some of your assets so they're willing to just merge with you but somehow keep your brand your name or some reason why you're public and they are not public so that what assets would people want from Gamestop they don't really have any assets they have cash what are they buying the name how about you stop thinking about outside people and you start looking inside you start looking at Ryan himself has it ever dawned on you that Ryan Cohen is worth his net worth is bigger than GameStop he's worth more than GameStop the company the brand everything Ryan Cohen you're partnered up on the wrong side of this you're viewing it the wrong way GameStop's bigger than what you guys give it credit for because Wall Street has not given you the True Value do you understand what I'm telling you right now you keep saying a bigger company's coming in no no no GameStops the bigger company they're just not getting the real value the valuation they're getting is not true $1 billion 8 billion $9 billion that's not real that's this big compared to what they're truly worth they're massive man they're 50 billion they're a hundred billion doll brand that's what they are right now the cash on hand tells me that book value tells me it should be worth what 5x at least of book $50 a share at least with 426 million shares that puts them I'm not really good at math but around 23 million 23 billion I apologize 23 billion market cap they should be in the s& S&P 500 and then what then what grows from there this is a massive company it's only small because they report it small it's only small because they give it these terrible valuations I'm not going to let you guys get out here and marginalize this real investment may may I introduce you to my other partner over here testing testing one two yeah Ryan Cohen and me that's it maybe even royan Kitty I'm still down with my boy this [ __ ] ass video oh Tony this is embarrassing bro those are the major reasons why you do a reverse merger um maybe there's others and if I forgotten them feel free to put it in the comments um but that's that's what it looks like why does it look like that because you have the Core Business continuing to get smaller you have inventory staying like whereas it was flat last year it's actually um down versus last year going into holiday season now some of that is driven by whatever's going on in the gaming cycle if I saw it correctly I think I did but there was something really awkward in the way that I was looking at it on my phone um and then you have this massive Capital raise with the cash but you don't have him deploying it right away and then you have this new capital raise of 20 million shares also being filed as a shelf super cool don't know if they were out of room on the previous filings to to do more such that they just had to renew the Shelf how do you not know because you don't know the company you don't know the filings GameStop can offer up to a billion shares well from 426 for five 174 million more shares how don't you know this stuff you're over here talking about this is like I'm talking to Martin scarelli Martin scarelli comes out has a great opinion well I don't know you know my my my my my my my my my my sheets show me and my and I'm just like what the what are you talking about bro I'm telling you the same thing May they're not spending their cash hey may you know what's crazy in the world of what you're saying and thinking GameStop's dialing it back and GameStop's shrinking and doing then why are they doing a distribution deal with with Mod retro for the new Game Boy why are they doing PSA graded cards and collectibles Omni Channel same day delivery Better Business what are we talking about why are they paying their managers with rsus that vest over the next three years why are they building that culture when they don't have to that they don't have to give up shares and shareholder Equity their cash is worth everything right I mean they could literally give up cash cash or nothing they could have just gave everybody a raise they wouldn't have burned off as much cash ESI and they can't take them out this is crazy talk GameStop's doing the complete opposite everything they do compared to what you're saying that you think they're doing but I'm not sure given that you have all this cash what it is you want the capital for if you read the if you read the um the perspectiv on the the Shelf filing you'll see that the use of proceeds is really General but they intonate in like in in the use of proceeds and they're very clear that it includes potential Acquisitions for the purpose of you know that are in line with what the company said it's going to do well the crazy thing is the company hasn't said it's gonna do anything so I'm not sure what that means it is very standard verbiage so it might just be that the banker was being lazy let's write it in and move on but there's no stated use of I hate her laugh she laughs like in defense when she doesn't know it like could you imagine may I don't want to say what I'm going to say may nah I'm not going to be crude proceeds you have 4 billion in capital you have no stated use of proceeds but you have another shelf offering to raise a ton of equity Capital it's all really kind of strange to be honest so let me I don't see how it's really strange if I can still raise money without borrowing money zero bonds zero retainer not using a revolving credit line going to the markets getting people to invest why wouldn't I do that that's the right way to grow this company in this business and there's still a necessity and a want and a need look look at the volume yesterday 28 million shares traded back and forth they're selling the shares right now at 20 bucks a piece I wonder how we're holding this level here we just sold 45 million shares um in two months ago we sold them at $20 a piece no problem we soaked up that you know that that dilution then we went ahead and offered did another offering at the peak of it all sold in the realm of $28 a share 75 million shares and now we're loting four more per of this float and we're selling at 20s I mean we just hold 20 bucks do you know how heavy we are at 20 like I tell you guys we're thick in the waste call this stock JLo call this stock Shakira call this stock something I don't know Amber Rose thick in the waist baby let me just throw a couple things at you uh typically they load up on inventory starting this quarter that they're in right now so quarter is usually most people I mean maybe fourth quarter you'd see it like Escalade but right now we're below the previous quarter's inventory well because they're they're is she stupid yes I mean that's the rhetorical question all right so the inventory is down what was what was the biggest problem with this quarter guys top line revenue down right Revenue down 1.64 down to 798 so obviously down $300 million so Revenue would be down you wouldn't carry over as much revenue I I.E inventory I'm so sorry but inventory whatever is reported at the end that's the carryover that's not what was used and sold throughout the quarter do these guys not know how this works this is crazy talk right now this is really bad talk right now guys the way inventory Works in retail you have a carried inventory let's just say you carry x amount of inventory right um 500 million you can hold that but it's churning the whole time you're selling through it and replenishing selling through and replenishing it's almost like how carvana did it carvana had an amazing amount of in inventory they sold it off but they didn't repurchase because they didn't repurchase they kept cash on hand that showed cash cash flow positive well GameStop had a flip on cash flow positive about $175 million this quarter you know why they sold off on inventory and didn't have to repurchase because they don't repurchase in Quarter Two we know this traditionally but if the top Line's falling off that much and Gam closing stores and they closed two fulfillment centers this last year of course inventory is down we don't have the space to cover it we don't need to the the valuation that they did on themselves they did their own Consulting they literally go you know what we can just use every store in America as a hub for for Omni channel for that transparency as far as when I order it how I order it how I can get it to me we only need one Central Area to ship things out of whether that be in Texas is fine but you don't need all of these areas you don't need need Reno Nevada you don't need York Pennsylvania you don't need these big buildings so they're not holding as much inventory when you had all that space in the world you were holding that inventory but they're churning through it I mean man this is Elementary they're cutting stores M yeah no they have been though this entire so you would expect inventory to go down because you have a smaller footprint let look inventory really quick we're at I I have it on the screen here yeah so how many stores did he he eliminate well we don't know they only tell us one she wouldn't know that they don't answer that only once a year in the 10K she doesn't know because she doesn't study GameStop well how many stores did they close well we don't know okay great now inventory is down um compared to last year because they have less stores and less fulfillment centers but inventory could be down to a 100 million it wouldn't mean anything just means you've you've turned through it all you kept selling buying selling buying selling buying said that's what it is man this hurts my heart dude this really hurts my heart once a year in the 10K okay so so previously I had seen maybe like a 10 15 like 10% decrease in I think it was 5% was like small right 5 10% total I have it here uh 5% okay sorry so even worse than what I was saying right so unless they really got rid of a lot of stores that's a big decrease in inventory because if you one of the things I watch for is [ __ ] man dude this is so irritating May don't ever evaluate inventory versus inventory carry over carry over year over year don't do that don't when the footprints forever changing and then you have to look at percentage of margin like the margins themselves like but you have to take into consideration footprint where do I store this inventory this is why it's a lower number but you could still burn through it man I could buy a $100 million of the inventory every qut every week if I sell it all I'm still buying so it's gonna what's the number that I put on the paper nothing looks like I have nothing on hand but the truth is look at my sales oh man this is tough dude honestly I didn't know she didn't know retail like this like she really doesn't understand it this is bad look for you Tony and Tony's trying to talk her through it but no there's no talking her through it she's absolutely ignorant inventory has decreased a little bit but it hasn't like quarter over quarter you know well I mean you expect a lot from holiday and then going forward but you like last time I remember I it was weird that the inventory was flat if I go back to last year right so let's go let's just go the inventory L here here's here's Q2 of last year it was 676 million and then at the end of Q3 which is the one they're in right now yeah it bumped up to a billion yeah so I mean if you figure some store closures 676 down to 560 would be in line and then we'd expect to see a bigger number on the next earnings in three months so um okay so Q4 682 to 632 so what's the decline what's the number 676 to 560 see I would talk something with a six handle still okay so okay but if okay if you want to do it that way then we can do q1 756 to 675 right so that's a 10% decrease so are you saying that you think it's about 10% stores change uh there was a footnote in I don't know I mean I I have no way of knowing how many they are closing other than I did spot a footnote that is new in this 10q uh fact let me just pull it up we can look at it together because I haven't seen anybody talking about this and I actually forgot to mention it on my video had so much uh the footnote is going to be the one that I just read yesterday two days ago that um they're closing more stores than what they wanted to you guys know how many leases were up for bat there was about 1,400 to 1,800 leases and some are being renewed some are going ahead and they're they're revamping them so if they're getting out of those leases great the number comes down dramatically but that's not the point the they don't understand the inventory this is crazy man stuff that I wanted to cover this one we have an initiated a comprehensive store portfolio optim optimization review you know what's crazy watch watch this dude this just hit me right now let's go let's go look at something really quick can we go look at a company like is it is it Walmart can we are we allowed to look at Walmart I'm just curious Walmart right here Walmart's inventory might even be negative guys like I'm I'm just serious about this this is how crazy I am about this um inventory look at this [ __ ] okay so 55 million 44 4 million whatever may be look watch this oh no no no let's go to um quarterly right can we go quarterly I might this company might be too big to look at this is too big of a company to look at I understand so 55 million right whatever $55 million $55 billion worth of inventory but look at their sales watch this 3x of what it is so how in the hell okay just so that we're clear do you understand that they're doing 3x the inventory they carrying over that means they've turned through that inventory three times in that quarter the carryover they only have enough holding for the 55 they can't hold more they if they do then what happens Freight Logistics the the trucks don't show up they show they can't unload forklift drivers can't unload you can't unstack the shelves where do you have this mag this mystery shelving right like you literally if you're Walmart you've never had more than 60 right more than 63 right here and that's what quarter three now oh quarter three getting ready for Christmas so literally you you're stocking up and you're getting ready for what it is every year it's that way look at that right there quarter 3 64 it's the same for every company man I've seen negative inventory numbers that's what I've seen from quarter to quarter um and I only I'm telling you I know some [ __ ] but I can't I can't with these guys man I just can't oh man I wonder what bed do they still have bed batham meon on here I'm just curious do are they going to show you their inventories for bed batham meon this is where like I really look at this stuff look at this Bed Bath and Beyond with the Knuckleheads look at these guys the same inventory every quarter never changing oh my God there's not enough Flex in there guys but you know what was changing their sales cost of Revenue was all over the damn place going down down down there [ __ ] still going up n it's a bad example uh who cares goes I mean this is crazy though still just for them not to understand I can't get over this right now all right go ahead and it says we anticipate that it may result in the closure of a larger number of stores than we have closed in the past few years okay so yeah and there's going to be an impact to sgna in the short term yeah so wind down so what I'm saying so there's a couple different ways that a person could do this right you can have you can have let's say let's say so if so can we let's just calculate the percentage really quickly from that previous slide on on inventory decline 676 um it's like yeah so it's like almost 20% that's all right what are you looking at 759 to 676 uh six are we comparing Q2 2025 Q2 2024 yeah I don't know which one you're comparing that's so the inventory decline is about 116 million if you're looking year-over-year yeah yeah so the year because you would because there's definitely seasonality so you've got almost 18 and change percent almost 19 19% decline why an inventory seems like a lot for a 5% store reduction yeah yeah that's my issue yeah hold on 676 like yeah so it's like almost 20% the right what are you looking at 759 to 676 uh 6 are we comparing Q2 2025 Q2 2024 or yeah I don't know which one you're comparing so the inventory decline is about 116 million if you're looking year- over- year yeah yeah so the year because you would because there's definitely seasonality so you've got almost 18 and change percent almost 19 19% decline seems like a lot for a 5% store reduction that optimizing too the other thing that you'd often see is you'd see lower store count but you would see inventory still in line so optimizing would mean you get rid of the stores that aren't selling as much and you put their inventory in a better store so you so you know unless unless the store to CLI is something like literally in line with this I mean it have to be actually like it would have to be closer to 20% right because if it was if it was only seven let's say that's 18 and change we'll use 18 okay somebody else can put the math in the comments or something and just be my be my savior on that so like 67 why is she always laughing hey whoever said that's the Michelle that's that's please don't have that talk up in here bro if you guys don't know about Shannon sharp getting fired from ESPN this morning cuz he decided to have sex on live and he as he was damaging some woman's guts oh my God her name is Michelle apparently he said apparently Michelle's okay she could walk because she could take it 76 divided by 560 I think it's the number eight so if if the if the inventory client is 18% and the reduction in stores is 18% that's not very much of an optimization you know I mean so like really it should be you know because technically the stores that are remaining should be selling more per unit per store unit right you would think that's what the GameStop YouTubers tell us this is great that they're closing stores the ones that are remaining are going to sell more because now you don't have another one right across the street yeah and that's possibly the GameStop YouTubers hi Tony say my name [ __ ] there's no plural here it's me and you Tony you know damn well that's what I say keep using all my quotes go for it Tony true we don't we don't know the answer because he didn't publish a number so it really depends but it looks so so number one on the next earnings release you'll need to see what exactly is the reduction in inventory versus reduction in store so if they reduce stores by like 25% and inventor went down by 18% then what they actually did was increase inventory per store and we need to see the sales through right if if it's some other mix of that you're missing a pretty vital piece of information but ignoring all of that you you would you're you're inventory reduction is really high so this is why we don't have these conversations may because uh we're missing very important Vital Information we know we're not giving the amount of stories they cut we only get that once a year this is why we don't spend time look at all this time you're spend on inventory this is crazy talk like who are you guys trying to bamboozle and Tony you bring on this mouthpiece that knows nothing about games sh didn't even talk games so it doesn't know anything it's embarrassing do you think they know PSA graded cards are turning into burning every damn day like we do like so like how many stores did you get rid of it it's it's you know it begs the question that's why it'd be nice to have some comments on any of this stuff right yeah so short of having better information it it kind of looks like he's just still gutting the company after all these years now if you look at like everybody always wants to compare to AMC they're like AMC sucks blah blah blah who wants to compare to AMC we're trying to detach ourselves from you [ __ ] here she comes talking AMC though bro I can see it already don't do it Marcus with May don't do it with me but largely speaking the decreases in theater count the the the biggest Del on that the biggest change in that has already happened and then what's happening right now is just rolloff of contracts that are ending peacefully and gently do you I mean like you're not really seeing this massive decline with AMC is reducing theater count by 10% but revenue is growing and we got an opposite problem here they're reducing scores because sales are falling and sales are falling because they're reducing stores and you know where where's the safe where's the safe landing are they really trying to say AMC is doing a great job on closing theaters and their revenue is not falling off hey excuse my French here [ __ ] Revenue what about profit I don't give a [ __ ] what the movie theaters do I know Cinemark makes a profit you're invested with Adam Aaron at AMC private Equity were you two [ __ ] work are you kidding right now clowns oh this is crazy talk but the theater count isn't down 10% this year I'm talking about since 2019 oh sorry yeah okay that see 10% since 2019 is like okay I get it nice chill slow we're tring to keep the business approximately the same you have a one I mean you're showing a you know first of all you're showing a massive decline in Revenue right okay cool but you're also showing a massive decline in inventory so I I have to actually really understand what got sold you know what I'm saying what exactly happened that's all if it was a smaller number yeah let me throw something at you for the people that are probably yelling at their screen but may you don't understand they know they're over stored and they know they need to reduce uh the store footprint and that hey you [ __ ] Okay I'm telling you right now Tony you keep taking these quotes bro you wouldn't even know what over stored is you don't even know what it means until I tell it to you remember that [ __ ] Tony you don't know the info until I feed it down your [ __ ] throat kid retel 101 you would know what it is kid all the thousands of people that get to watch these videos they all know what it is because they watch they learn when you steal the [ __ ] steal the info you're gross you're gross this is oh guys this is theft at the highest degree listen to it again it happened that's all if it was a smaller number yeah let me throw something at you for the people that are probably yelling at their screen but M you don't understand they know they're over stored and they know they need to reduce uh the store footprint and that's part of the plan because they're going to Pivot into Omni Channel selling on the web blah blah blah blah blah and and maybe do something else maybe acquire somebody in their you know in their segment with that $4 billion so maybe this is part of the plan to wind down the Core Business a little bit maybe not to hollow it out for a a reverse merger what how would you react to to that type of debate question okay so anything is possible but with the market caps nine billion is that right uh I think eight with just under nine yeah okay so let's call it nine you four and a half billion dollar I have it here hang on I can just look 8.8 okay so we'll call it nine even though 8.8 is a luckier number to be honest the Asian in me wants to go8 so 8.8 billion all right we're gonna go with that because it's such a lucky number eight8 right okay so like so 8.8 billion 4.5 billion cash they're going to do an acquisition that's why I'm saying it looks more like a reverse merger than it does because you're basically you know your Enterprise value for the company right now is going to be your market cap minus the cash so your actual Core Business um is not actually that big so that's why I'm saying like you're becoming a shell and you'd have to back something into it um this is how dumb she is you're trying to do your math and and talk about GameStop when the stock price is at the lowest point it's been in the last 3 months you think that this company's only worth $3 billion market cap minus the cash it's only worth four billion three four market cap was just 12 billion just 10 billion the other day [ __ ] yesterday so no no you don't get to do what you're doing right now minus the cash because I want to know how you're going to buy the cash that's what I want to know this is Criminal these two most likely and it's going to be let's say it's an all cash deal okay right because if you use stock right now then that's not going to go well for Equity investors and it won't go well for Equity investors because the only thing you'd be able to use is some multiple on um on on the fact you'd have to remove the cash so you get almost nothing for the but then why would he do that because his job the board's job is to uh get the best deal possible for shareholders whether it's a reverse merger or acquiring someone else and just growing the company again figuring out a way to grow earnings why would they consider a reverse merger if that is going to be detrimental to shareholders so here's the thing so I've got some people they're like they're simplifying what they sell they're all this stuff no no no 4.5 billion Capital raise doesn't explain any of that actually with if that if all they were doing was simplifying The Core Business you would see massive um iida increase earnings before interest tax appreciation amortization is what ia stands for or you can just look at operating cash flow sub um subtract out capex okay you would need to see that number like jacked up high but he's actually not trying to jack up free flow because all he's doing is paying down his Aces like crazy okay so if I saw him stop doing that generating a bunch of cash and and still selling stuff off then I might be okay he literally had a swing on cash flow $175 million while paying off whatever they owe that's why their liability is solo that's why their current ratio May is at 6.2 6.2 you know what I'm going to do mate let you talk for a minute okay that that whole thing which you just described which is selling more clothes in TV or whatever that would make sense that would be the that that's what that corporate you know if you're if you're like hey if what you're trying to do is consolidate reduceing whatever that's what that looks like when you look at financial statements this looks like someone has told him that they're going to essentially wind down massively The Core Business and use the capital to become something totally different so examples of that would be like Corning ticker GLW back in the day that company made glass okay now it makes like it makes very very high on Glass Technology shut up a good current ratio for a retail business is typically 1.5 to3 a higher current ratio indicates that a retailer is using the resources efficiently and is able to generate more sales with fewer assets this can help a retailer maintain a Competitive Edge in a crowded Market boom that's the AI overview you're talking about 3.0 is a massive number on retail businesses GameStops at a six I'm just helping you out let's go to it who else is at a six around here number of companies here at at this level here I'm looking right here and what's the average current ratio anybody at a six right here fives in the Biotech Industry Biotech Industry gets fives because they don't have inventory they just churn make a profit anybody else in sixes I'm curious 4.2 medical devices same thing who here is an average over six I'm just curious nobody no Industries over six wow biotech has the highest average of 5.1 so we're right there with biotech medical instruments and supplies at 4.2 Airlines at 7 nobody the industries are not there they're they're not in favor I want to know who has over a six I'm I'm just curious somebody could probably tell me who has the highest current ratio maybe we can Google it right now highest current ratio greater than two 5.8 the industries I just showed you I'm I want to know who has the highest one right here anybody know inves is not going to tell me somebody find me the highest current ratio certainly in retail I'm curious who can beat out GameStop this this what I want to know all you do is what's nvidia's current ratio Apple's current ratio is 088 that's it you guys ain't ready Bros guys are not ready watch this Nvidia current ratio look at that you guys I should be buying Nvidia 4 point 4.2 4.27 GameStop is 6.23 nobody's evaluating GameStop correctly G for whatever and it might have looked like this right other companies that have done it let me try to think of when that's more in recent history because that that happened so long ago it's not even funny um uh with that transition oh what looks like that now or that has done that now oh my gosh I'll think of it I'll yeah let me know because you're you're you remember far more of this stuff than I do like I wasn't paying attention to to that stuff back in my younger days I was doing my corporate job so that's why I appreciate you whether you end up being right or not just having the the discussion so that we could either learn or maybe you'll end up being right and that'd be pretty cool and maybe you'll end up being right maybe if you're right or not can you imagine having a platform and saying maybe if you're right or not you'd rather be wrong I guess cool you know if you if you figured something out before everybody else hey and why is it every live stream she's on she looks more terrible as the show goes like may I know you're probably pretty attractive back in the day you know when you were younger she's got to be 70 years old man she's oh she's cracking on it all scen look at his hair just falling around well okay so like if you're G to do this if if it was the case like if it was the case that there was a possibility for what's called a rollup strategy it might look like this okay but there's no other real competitor to GameStop that's doing specifically that type of store so that wouldn't makes sense like if you were a healthare company and you were doing something like Home Care something like that right where you do senior care but you know they call you and you bring you know Senior Care in house right like let's say you're doing that and you raised a ton of capital then very clearly it would look like this and you would not be like doing any capital expenditure and then I would expect a series of acquisition announcements but the thing that makes that a little bit awkward is that I would already see the Core Business set up to be attached to other Acquisitions and I don't see that yet now maybe I just don't know and it's totally okay I'm not saying them at the NBL I'm just really trying to add the little value that I can add is looking at this and telling you what it would mean if you just gave it to someone took off the name and said May what is this company trying to do the little value because you just can't take the name off of it you have to remember the sector that it's in I've warned you guys hang out with these non- retail dudes see what happens this is what I would think it would potentially this is the question ask I'm sure you saw that accounts payables you know getting whittel down right I'm I'm sure you saw capex was almost non-existent these are these are kind of like strange things that yeah exactly exactly people are going to say well of course they're whittling it down you know why would you want a big accounts payable but we we look at Trends right and this I mean it's accounts payable dropped from a billion bucks to 220 million in a couple years oh this is so funny I love this IP yeah yeah so like that those two things are part of why I'm like he's hollowing out the company because if you're not even so like you would expect in in a typical like I'm GNA optimize even if you use something like AMC which everybody's like you're just talking about you know no if you look at AMC the capex numbers were really big when they did actually attempt something somewhat close to this strategy but not in this particular approach right they definitely were trying to do a rollup in 2018 um when they did the debt raise because they were trying do with debt with because debt was so cheap at the time um and when they did that the first thing you saw was a massive capex now they went and acquired a bunch of theaters um because they were trying to just roll up within the same industry but that's my point like like if you if I saw something in capex I'd be like oh clearly they're like really doing something they're they're orienting themselves to start to do something very different the only business that this amount of CeX would let you do is become a private Equity shop but explain explain this capex thing that was my first question when when you mentioned that on Twitter priv I don't get it pretend I'm dumb I am dumb you're not dumb I don't I don't understand you you obviously know something uh you you're trying to explain something but I'm not getting it um why would why would you see capex increase if they're planning something okay so start so let's let's explain the opposite right so if you were really just trying to optimize your existing stores that's really the only thing you were doing then you would be reinvesting in your existing stores and then would be you would be selling off the other stores and I would see a very specific cash flow usage from the sale of stores right I don't see that what I see is you are not reinvesting anything in your existing stores to upgrade them change them or otherwise improve them and you you're definitely selling off the other stores and then you're just keeping the cash when when I saw the capex number I was like good Lord these poor employees like what kind of what kind of work environment must that be like oh I got a maintenance request but nobody will answer it because they they don't have any budget for capex that's what it feels like to me the dumbest [ __ ] I've ever heard um GameStop leases the properties there's property managers they don't have to come out of pocket for capex you literally are capex is in the walls right but the walls that are like you put in a work order because you have what a light out and that that expense doesn't go to the bottom line I'm sorry Tony I know you don't understand supplies and outside services and equipment and everything else that you would spend cap expenditures on but um hey believe what you want because capex traditionally in a retail set in the setting is for things that cost over $2,000 can I cap it sure you cap it to corporate and they pay that's why but if you can take care of things inhouse that's what you have property management for and that's what you do on Commercial so if you're renting at the mall what the hell do you have to do you're renting in a strip mall you might have some some excess foot traffic but that might be paint on the outside but that's all for the property manager that doesn't get to the business the poor employee my God the poor retail investor the poor I'm so sorry um lowlevel entrylevel retail employee my bad hey son get a different job that's all I could tell him right this is crazy talk out of these guys they really don't know anything about what they're talking about but hey um we're almost done because she said private Equity I got excited Bros cuz I do have something about that either that or they had a budget but they just decided not to spend it that's possible too so that's the first thing and I was like okay that's weird so what could you be using the capital for so so so really when you see a low cap X number and you don't see the spend in other places you're like the the business is identical so you're not optimizing in the sense of improving the existing stores you're optimizing meaning you're just getting rid of stores there's there's like there's not that's not really optimizing that's really just removing you know what I mean optimizing actually applies increasing doing something new at the existing store so it could be like figuring out a new way to sell to people and you would see some CeX maybe there it would be like doing a big um build out in technology that somehow helps you you know it could be like there's a bunch of things that it could be um that should show up and as a use of cash as as a part of your free cash flow usage right um and then what was the other thing that was the question oh uh yeah well that was a question like what what would why would you expect to see CeX going up to set them up for acquisition it would at least tell you what what approximately they were trying to do right so they they were trying to optimize the stores like make them nice so they could sell them you would see CeX if they were trying to CH transition the stores to something new and Innovative what do you mean sell them am I missing something here hey may what the hell do they own they own these stores this is crazy bro I can't I can't guys sell the stores how about you sell man I was going to say something I shouldn't say you would see cutback well maybe they haven't figured out that's the people were saying they're taking their time May they're just waiting for the economy to crash and everything to go on sale cheap and then they'll buy whatever competitor or you know Cherry that they got their eye on they'll buy it when it's cheap when the market crashes it's a really valid point except what are the competitors is there is there a GameStop competitor I just said competitor there's not really one but let's just say it's a gaming company you know software company I'm just making up examples I maybe they could buy toys or us out of Macy's I'm sure Macy's would but it's only a brand at this point Macy's is the one that UPS the inventory it's all the um the okay so then the other thing that that this might look like is if they were really transitioning like completely out of retail into something else you know so well that is what some people have postulated is that they're trying to really ramp down retail and just become a online store no this is not even online store because you'd still see the capx right that's what I no you wouldn't no you wouldn't what do you think it costs to make a widget a click through graphic design you think that cost something infrastructure somehow some way this is a problem for me GameStop's doing down their business their core media business their legacy business and they might just have a couple of profitable stores left right but GameStop's going to be so much bigger than that it's going to be an investment business it's going to be a private Equity play as in you would say it's going to be brick your hathway es that's where they're headed they have the billions of dollars to do it and they get to raise the capital based off the fact that no you're not getting your stores bought out these guys don't see what GameStop is and we've been telling you what it is for the long longest time it's the biggest investment that no one wants to talk about I was doing some homework last night which I typically don't have to do after I end the live stream you know actually went for a run I'm going to stop this video here guys I know you guys probably want to watch them bicker and back I don't know how they talk for two more hours about this an hour and a half about this I don't they've been wrong about inventory they've been wrong about the business and it's just do I even want to keep watching I got to I got to look at the timer right now cuz I want to tell you a story I want to go running I've been live for an hour 10 15 I'm good it's crazy CeX wouldn't go down exactly it's ridiculous what they're talking about all right listen guys and listen listen loud and clear I have been talking about private equity for two years I've had a channel here for almost four years now but somewhere down the road I learned about private equity and when I learned about private Equity it's almost to the point where everyone around you like these guys on Wall Street um will say well we know about that we already know about bootstrap deals leverage buyouts junk bonds Mike milkin milin Institute we know about Bane and& company we know about cow group we know about Apollo Aries Pegasus we know about oak tree we know about everybody right so you can't teach me what it is and that's when I really found out what it was you know private Equity is leveraging publicly traded companies and forcing them into bankruptcy on purpose and you can see it happening you know how it's going to happen but also within that same Realm of the activist investor where these investors come in and they do massive takeovers of companies hostile takeovers so I've seen Carl icon do it I've seen KKR do it and when I saw all these takeovers happening and we were saying you know that's what Ryan Cohen did why is it a good thing versus a bad thing well the good thing is Ryan Cohen's trying to go up against the established private Equity firms Ryan Cohen has his own money and he's the new kid on the Block and no one's going to let him play and he's gotten involved in certain Investments where he saw True Value and he wants to maximize that value and go from there well now he has he has his he has his bread and butter here he has GameStop and people are with him and can you imagine having the allegiance of people and not not only investors but people the brand but last night I ended the live stream and I went for a run I'm been running two miles when I can when I when I'm motivated and I was motivated last night to go for a run middle of the night and I ran my two miles and I cried my eyes out this is the part of the show that people don't understand I'm living in front of you I have GameStop I hold it I love it I respect it it's my investment means the world to me but I'm also going through a lot personally where some things happen that I can't explain but that I've made a choice a positive choice for me and it's a painful one too it doesn't mean that it's always the right choice you just you live with through it you know you go through it and I was running and it's not like I'm running from something it's like I'm running to something I put my body in so much pain last night I woke up today and I said man I want to do that again and I want to do it again I want to do it again and I want to do it again I want to change so after doing that run came to my computer and I typed in the words Mark ven because while I'm running I'm thinking Ryan Cohen is private Equity everybody's told me this I know it you know it it's private Equity it's money that's privately held and it comes on over and he does a hostile take over at GameStop but he beats everybody to it but he has a good way of doing it he's not this snake he's not this scoundrel he's actually trying to do the good bet the right thing and he has certain people on his side you and I Larry changen Alan ad Michael day but Mark ven so I go look at Mark ven again you guys know how I found him Mark ven was the CEO of chewy.com with Ryan Cohen Mark ven is Mentor he's in his 60s right now he's a billionaire out of Seattle does e-commerce at a high level zooy multiple hires from Zulily went over to GameStop when Ryan Cohen got there he's been with Chewy as well his all his hires went to chewy as well he he actually opened up a company called Blue Nile they sold more diamonds and Tiffy back in the doc era 2004 to 2008 but you know where Mark Vaden worked before Blue Nile I went and figured it out I went and looked it up and I started doing my homework last night this all happened last night after my run Mark ven used to work for ban and Company for six years for six years he worked in private equity and he got that view of how they do it and why they do it and what's the outcome I said I said to you there are some people that do things the right way there are some people that are willing to take it the the longest road possible and zero shortcuts are you one of them I'm one of them I work very hard for what I have in life for the kid to come into the chat and bade me and tell me I'm a loser and all you have is $20,000 I looked right at him and I'm just like okay I'm sorry you feel that way you don't know the value of the man Ryan Cohen is worth more than they put on paper GameStop is worth more than what they say it is when they try to tell you GameStop's a 10 billion doll company just remember they said it wasn't they had a market cap Target price point of $3 a share $5 a share they thought it was worth 2 billion at most and it's only because they had 2 billion cash or a a billion cash they gave you zero on this company and that was just four months ago the tides turn this can turn fast hang on that's all I'm saying to you guys do whatever the hell you're going to do with your investment have all the conviction or not wake up all night long and don't sleep like if you were rich Richard Newton but if you're me and I'm you do the homework invest with the people that want what's best for you markets with May has zero clue as to this investment and what's happening with GameStop as well as Tony daero but they're not the only ones the whole damn world has it wrong only you know what's happening if you're here at this channel you're here in this environment then you know the truth and you believe it I believe it because I can prove it I'm GNA wake up every day guys I'm GNA wake up every day and I'm going to prove it and I'm going to be the change that I want to see in my company me you can join me or not I don't care when I go running at night and I'm crying some people might see that as a sign of weakness it's okay it gives me that Clarity that I need it really does thank you guys so much for hanging out with me another great night appreciate all the support and love for the channel I couldn't ask for better following from you guys I don't know what song I'm going to play out the door but I am going to tell you I'm down with you guys I'm down with you forever uh I think I know what song I want to play then if that's the case hey well I could say it that way right through thick and thin I'm with you GameStop can't stop won't stop GameStop I'll see you around millionaires [Music] oh [Music]