GameStop is buying PSA graded cards

[jayshum]

https://www.sportscollectorsdaily.co...trading-cards/

[visualplane]

Wow, sports cards as well. Not just pokemon cards.

[BigfootIsReal]

LOL, will be worse than selling to Rick on Pawn Stars

[visualplane]

"One store told us that customers who opt for a store credit will receive 40% more for their cards than those who opt to take a gift card that can be used anywhere."

Ok, party is over.

[jayshum]

Originally Posted by visualplane

"One store told us that customers who opt for a store credit will receive 40% more for their cards than those who opt to take a gift card that can be used anywhere."

Ok, party is over.

It's been a while, but I used to take my kids to GameStop to sell back video games they no longer wanted. I think it was similar back then that you got more in store credit than you would get in cash/gift card for use anywhere.

[visualplane]

If they're giving 90-80% in store credit, that means only 50 - 40% in comps for cash lol.

[D. Bergin]

Great! Now GameStop is getting into fencing Graded Cards, on top of video games and electronics.

Get ready to see more tweakers with sticky fingers ranging around at card shows.

This is an assumption based on conversations I've had with my daughter over the years, who worked at GameStop for a few years while she was in college.

[scooter729]

This is the reason GameStop stock is soaring again! The market loves their connection to PSA!

[Balticfox]

Originally Posted by BigfootIsReal

LOL, will be worse than selling to Rick on Pawn Stars

:lol:

[theshowandme]

Sell Apple, buy GameStop?

[shoreball51]

Roaring Kitty?

Is that you?



Quite funny!

[BioCRN]

It might help bring a bit of it together doing a search for "currency trading cards" and realizing PSA grades them...and Gamestop sells them.

It's an odd scene featuring "original art" in the loosest sense appealing to the weirder parts of the "investment" (also in the loosest sense) world.

[Bored5000]

I have no faith at all that Gamestop employees will be able to detect fake PSA slabs/flips or slabs with lower graded cards inserted and the slab resealed.

[doug.goodman]

I hear thru well placed sources that after the sale is complete, Gold and Silver Pawn (aka Pawn Stars) will begin negotiations to buy Gamestop.

[kcohen]

Originally Posted by theshowandme

sell apple, buy gamestop?

hodl!

[visualplane]

Per gamestop post, they will be taking sports cards:

https://www.instagram.com/p/C69HzNPAYWu/

"Yes we will, just as long as they have been graded."

[chalupacollects]

I can see them taking advantage of young teen collectors...

[4815162342]

I think I’ll pass. This seems to be for the modern shiny crowd.

[Fred]

If the market cap on GME was a lot lower, then it'd almost be like time to consider short selling it. It just blows my mind that the stock hasn't just faded away and been de-listed. Internal reports indicate over $5B assets. If you consider gaming inventory as assets then it makes you really wonder what the actual value of all that garbage is. Now they're going to add low cost PSA cards. Seems like a pretty crazy move. Perhaps a poll on how this board feels about what the valuation of the PSA cards GME is buying will be worth in a few years.

It'd be even funnier if GME started investing in recent rookie cards. Wasn't the Trout rookie supposed to be going for $$$$$. I wonder how much it dropped after this season.

What would members of this board think if GME started buying vintage cards like T206 Cobbs, '33 Goudey Ruth's and cards like that? They'd almost have to create a GME vault because I wouldn't house those type of cards in those the shops they have.

[BioCRN]

Originally Posted by Fred

If the market cap on GME was a lot lower, then it'd almost be like time to consider short selling it. It just blows my mind that the stock hasn't just faded away and been de-listed.

There is an entire army of internet people who have been buying and holding GME for years assuming one day it's going to shoot up to a zillion dollars a share and they can buy their own private island etc etc...

The social aspect and conspiracy surrounding it is more important than making money, evidently.

We just got out of one of the best recent eras to enrich yourself investing during the COVID-era and these people have spent a huge chunk of their time and money buying and holding GME during this boom.

[Fred]

Originally Posted by BioCRN

There is an entire army of internet people who have been buying and holding GME for years assuming one day it's going to shoot up to a zillion dollars a share and they can buy their own private island etc etc...

The social aspect and conspiracy surrounding it is more important than making money, evidently.

We just got out of one of the best recent eras to enrich yourself investing during the COVID-era and these people have spent a huge chunk of their time and money buying and holding GME during this boom.

A few people made a lot of money during that spastic GME trading period. I'm gong to go out on a limb and guess that most of those Reddit readers lost their butts on that. I just wonder how much of the GME asset sheets are even close to being correct. There are a lot of short positions on GME, but I just can't see another stupid run on the stock like that one crazy trading period. Vegas should put an over/under bet on how long that stock will still be trading.

[BioCRN]

Originally Posted by Fred

A few people made a lot of money during that spastic GME trading period. I'm gong to go out on a limb and guess that most of those Reddit readers lost their butts on that. I just wonder how much of the GME asset sheets are even close to being correct. There are a lot of short positions on GME, but I just can't see another stupid run on the stock like that one crazy trading period. Vegas should put an over/under bet on how long that stock will still be trading.

I only passively follow the internet cult trainwreck that is GME, but they seem to be very cash-heavy and very little idea what to do with that cash.

The US dollar isn't going to help the revenue bottom line as interest rates get cut. They need to put that money to work.