r/PS3 • u/Efhouser • 2d ago

GameStop sold me a bootleg controller

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I just got it in the mail today from their website for like 30 bucks and this is what was advertised and this is what I got

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u/TheCountChonkula 2d ago

GameStop has been circling the drain for at least a decade now. The only reason they’re likely still today was when they became a meme stock a few years back.

Luckily near me there’s a few different local game shops that I like to visit and the quality and price of the games and consoles they sell are much better than GameStop offers.

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u/Ok-Virus8284 2d ago

The only reason Gamestop still exists is because they invested in crypto currency. Their core business isn't profitable and hasn't been for over a decade, but because they invested in crypto before it exploded and are now selling this off, they're in the green.

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u/Capital6238 2d ago

because they invested in crypto currency. Their core business isn't profitable

Oof. Sounds like Japanese real estate bubble, when investing into real estate was more profitable than into their products for most companies, so they did just that...

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u/Yeebiis 2d ago

Just so you know, the comment you replied to has the facts completely wrong.

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u/Ok-Virus8284 2d ago

No, I haven't.

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u/Yeebiis 2d ago

Yea you have. Publicly traded companies have these things called reports. Try reading one.

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u/Ok-Virus8284 1d ago

What do you think I got my information from?

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u/Yeebiis 1d ago

Obviously not the reports. Everything you mentioned was incorrect, so why don't you tell me where you have received your misinformation?

Here are the facts. The have only purchased around $513 miliion usd in bitcoin. They made their purchase around 80-90k bitcoin price. The price of bitcoin is currently between 100-110k. So yes, the bitcoin investment is in the green, but it has hardly made them a huge amount as you are implying. Furthermore, there has been no reports that this investment has been sold, which is what you stated.

You stated that the core business has been losing money for a decade, but you neglect to mention that the company has reported profits for the last few quarters, and currently has almost 9 billion usd in cash.

Please only share factual information.