crush the stock don't forget this so late last night K Jimmer tried to digest GameStop GameStop earnings he didn't say a single word about the short sellers the short interest he didn't say a single word about short covering he didn't say nothing about the actual squeezable plausable scenario he just focused on the earnings on Ryan coin on ring Kitty for a while and that was about it you stop pretending that there's anything real going on at GameStop last night the video game retailer an OG mem stock reported yet another unimpressive quarter and the stock lost 12% of its value today for years now GameStop's been hanging in there in the teens to 20s purly because CEO Ryan Cohen has a cold following among the Wall Street bets crowd that orchestrated the original Short busting cign in 2021 don't forget money MERS were shorting the stock so aggressively back then because there doesn't seem to be much future in a brick and mortar video game store nowadays everybody just downloads this download stuff right from the web you can actually do that through GameStop now too but you don't need to and we haven't heard a particularly compelling reason for why you'd want to then the memers came in crushed the shorts and briefly sent the stock into the stratosphere allowing the company to raise money by selling a ton of new shares however nothing's really changed in the fundamental side in fact GameStop doesn't even hold quarterly conference calls anymore not even the Sham conference calls they were doing in 2022 when they just read the results and refuse to take questions now they just give you the numbers and that's it lots of luck they know the numbers don't matter to the course shareholder basee but in case you're interested GameStop delivered a massive Revenue Miss sales down 31% year-over-year mostly goes fewer and fewer people buying games from the store at the same time the company posted a surprise profit sort of GameStop's operating loss was worse than expected but because of nearly $40 million in interest income they had a pre-tax profit of 17.5 million which translated to a penny per or per share not bad so what gave them uh the beat though it was their cash word The Core Business remains a money loser they get interest on their cash so the stock plummeted today but I don't think it has much to do with the numbers at the end of the day GameStop tries to make a living selling consoles and accessories because people buy their games online but the problem with that is it's been four years since the latest console's launched so there's a lot less demand everybody knew that already anyway as I see it GameStop's Core Business doesn't matter anymore what matters is fundraising it's very good at selling stock if not video games and last night we got some new details that crush the stock don't forget this this spring the stock had fallen to around 10 bucks its lowest level since the mem stock craz but then in May it started rebounding because of one of the original mem stock in skats Keith Gil tweeted a meme of a guy playing video games leaning forward in his chair I know that sounds crazy but it was enough for the memers to buy the stock hand of fist again and they briefly sent it to $65 mid Bay its highest level in 3 years this time though GameStop was ready to be opportunistic after a few days of freny trading they pre-announced their first first quarter results and immediately announcing at the market ATM secondary offering of 45 million shares that quickly set the stock back down to the teens but GameStop needs cash so According to Jim Kramer essentially things will get worse things will not get better financially people who are essentially buying the stock are the same people according to him who were here in 2021 there were no new investors there were no new clients or customers of the company itself he said essentially people are buying less and less product inside the stores so indirectly saying that you know everyone should kind of bailing out at this point again he didn't quite mention the reason for having 4 plus billion dollars in possibility of allocating elsewhere he didn't say that the company could actually build up a holding he didn't say that essentially there is a plan for moving towards e-commerce following up like we follow yesterday Ryan coin job postings roran Kitty make his fortune his network based on trading GameStop either GameStop stock or GameStop options right he didn't say none of it without trading GameStop royan Kitty would be just a normal individual investor and remember a couple of months ago when citon research publicly announced we're no longer short GameStop Jim Kramer said individual investors won kid Gil is the meant to be PR for this is the guy who defeat the shorts I'm changing my mind I'm spending full day on the r forums these guys are winning so on and so forth now again he flipping the coin not to mention late last night he even said that you know the company uh it's in terrible shape and individuals are obviously losing this is the exact quote Jim Kramer said that GameStop feels like a massively overvalued spark remember guys we got to be objective sure it does not help the management and the company and the stock you know not laying out a detailed plans for the future not running a special shareholder meetings and giving uh q&as right definitely this doesn't help transparency will improve you know uh the the validation and the idea of people why they buying holding or investing in the stock or in the company sure Jim probably is right about this right it will be nice for them to do so but on the flip side you know Jim didn't even highlighted that most of the people who are buying the stock are here for the squeeze they're not here to see the third quarter earnings report they're not see they're not here to see what is the EPS they're not to see what is the cash bur for theany company they're not here to see you know cash on cash return they're 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