a small price to pay for GameStop shares hope everyone had a fantastic Wednesday so far today my name is danam my41 nothing I say in my videos is financial advice I just like to speak my opinions about the market specifically game stock because I love the stock and I love everything that has happened with it recently and there is so much fud flying around in the sky right now and I want to let yall know that everything is going to be okay because in my opinion at least of course take everything I say with grain of salt I am a crazy dude but also I think I know a few things maybe one or two things that's about it Sam wants to say hi really quick he's uh right here on the camera My Lovely Sam four years old Ruby right here in the background she's about six months actually turned seven months not too long ago she is crazy full of energy but let's uh get on the preface of this video GameStop so of course today we closed at what $20.64 wasn't keeping up with the price action too much today but here we are at 2050 in the after hours or the overnight trading hours if you will and I just think the technicals played out the way I said they would um I did say we could go up or down depending on how the earnings go and you already know how the earnings go every time the announcement is made and it's usually good news too or when it oh okay Sam laid on my keyboard um let me back up really quick so oh I'm full screen there we go that's more like it so excuse the technical difficulties but I said we were going to go up or down and we decided to go down and we did follow this line we actually broke below my trend line but that's okay because hey I guess I could just adjust this right now so this is just a technical part of the video so how do we feel I'm going to let it confirm that it's bottoming out at what did we go we went as low as $19.38 today 35 C today give or take I think we're bottomed out at $20 in my humble opinion but you know anything can happen anything is possible in this crazy stock market oh Ruby is just playing with one of my socks furthermore I do believe that we could go up in the future depending on how things go as far as like the actually I'm not even going to say that cuz after the two uh after the market uh share offerings that we had price went up I mean we're up after two of them that happened May and June and you know what was the price action at around um let me go back to this year oh I'm losing my mind right now I'm lost in the sauce we were down here way before that even happened and now we're up here we're still up on our investment especially if you were buying back here let me go to the daily chart real quick especially when we were buying all this whole time and even buying down on our per on our average sorry I'm tired after long day and here we are still up on our investment at least I am but as far as everything else goes I know we didn't beat on Revenue when it came to the earnings for quarter two but at the end of it all we still made a profit and let's see paperwork says otherwise let's see where are we at exactly so furthermore before I get to the profits let's talk about the assets from last year in July to this year so as you can see last last year it was uh 2.005 billion now we're at $4.8 billion in total assets of course and our cash and cash equivalence is 4.1 93 billion and versus last year around this time which or for quarter 2 earnings results it was 894 million if I'm not mistaken so that tells me a lot that tells me that Ryan Cohen knows how to grow the money and invests it where it needs too or at least scow the money and maybe invest it or have some sort of acquisition in the future Anything could happen with the stock anything is possible but our total assets are way higher than they were before not only that the liabilities have gone down so our total liabilities are 783 million for that quarter versus 1.71 billion for last year so that is telling me a lot too total liabilities is way less than it was last quarter for quarter 2 in 2023 super excited about that and uh let's go to the profits really quick so there we are so I was wrong on my video in the car earlier I didn't have this in front of me but also my memory is not the worst actually I did say 14.8 million I was looking at income before the uh income taxes kicked but here we are for quarter 2 2024 we have 4 point 14.8 billion or 14.8 million in profit versus is last year we actually took a loss at $2.8 million so that's a swing overall when it comes to the quarter two earnings report and we made profit and above that we were not making profit at all for the longest time I think from what I read somewhere since 2017 this is the first time we've like actually netted a freaking profit without losing all this money and the fact that we've like cut out all the fat in the company overall tells me that we're on the path to success we are trimming down the fat I mean we're closing unprofitable stores especially with leases being up on some of them we're just focus on trimming down the fat in the company and making sure that we get rid of the liabilities that are unnecessary to increase those profit margins which Ryan Cohen is executing on successfully at least in my humble opinion but not only that they're expanding to tradable cards Collectibles um let's see Retro Gaming they're pulling up to the free freaking GameStop actually making some locations that dedicated to uh electric or retro gaming and are pretty much targeting that niche market for all of the ones that love the nostalgic games back in the past so I think GameStop is really doing well just expanding the horizons just making the right decisions spending less money while doing so and still having that creative mindset of what is the next move we have the capital to do it in a terrible economy right now interest rates are through the roof and everything is so expensive and here we are with $4.2 billion just chilling in cash and cash equivalence what else gets better than that I'm not entirely too sure I think GameStop is in one of the best financial positions that it has been in forever and yes forever since I've been alive I guess since I was born this is the best position that we've been in so if people are doubting it and our people are saying oh we're making less Revenue we're not making this much money here we're only making money because of the dilutions we're stealing money from the shareholders that's all they're going to say I've seen them swarm Twitter I've seen them swarm Reddit I've looked at it all today and it is disgusting and all I'm here to let y'all know is the naysayers y'all I'm here to stay I'm still going to buy my shares I get paid this week my bi-weekly check is hitting this week so if you think that I'm not going to Simply turn around and buy more GameStop shares you're crazy because I like the value that it's at right now because it's undervalued and when it goes up double within like a couple months or something like that you're going to be wondering oh shoot well this thing is going to go down and then it continues to go up in price action because the freaking team Ryan Cohen who takes a z salary plus the board of directors are making the best financial decisions for this company keeping it afloat and not only that but there is a strong shareholder following right behind it roran Kitty is here with us I don't give a crap if he tweets because he doesn't control the market big money does they just like to create narratives and unfortunately the masses do believe all of the narratives but here we are today $20.64 is what we closed at 2050 in the after hours trading and that's just that anyways I think GameStop is still buy it is a small price to pay for a GameStop share even though we were buying at $10 a couple months ago it is still small price at least in my eyes y'all have a lovely rest of the Wednesday night and I will see see y'all tomorrow peace out