GameStop (GME) Executive Chairman Ryan Cohen says 'Disk drives should be required on consoles'
GameStop activist investor turned Executive Chairman Ryan Cohen posted a physical media hot take on X.
GameStop Executive Chairman and the company's largest shareholder Ryan Cohen tweeted a real gem of a video game hot take in reply to an article tweet about the upcoming iPhone USB-C port this evening. "Disk drives should be required on consoles," says the guy who runs GameStop. Here's the X post embed.
Big win for consumers.
— Ryan Cohen (@ryancohen) September 3, 2023
Consumers have also invested their hard earned money in to physical video games. Disk drives should be required on consoles.
In case Elon broke tweet embeds here's a transcription of what Ryan Cohen tweeted:
Big win for consumers. Consumers have also invested their hard earned money in to physical video games. Disk drives should be required on consoles.
This is certainly an odd thing to tweet just a few days before GameStop reports Q2 2023 earnings results. GME shares are down 0.54% year-to-date, after a 16.44% decline in August 2023. Cohen's RC Ventures increased its stake in GameStop to 12.1% in June 2023.
He made the purchase of GameStop (GME) shares at $22.55/share, but the stock was unable to hold onto the excitement from the news of insider purchase. There hasn't been much good news lately, with CFO Diana Saddeh-Jaheh resigning and the announcement of GameStop Wallet's shuttering.
Source: TC2000
Keep it locked on Shacknews for our GameStop (GME) Q2 2023 earnings results coverage on the afternoon of September 6. GameStop has not indicated if there will be an earnings results conference call, but I am sure shareholders would like to hear from the Executive Chairman for more thoughts on other mandates for consoles. Maybe he can get all of the controller makers to decide where the A Button should go next.
What do you think of Cohen's disk drive mandate for consoles? Would Nintendo Switch cartridges count? Let us know in the Shacknews Chatty comment thread.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.
Full Disclosure:
At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:
Long GameStop via GME shares (partially hedged with in-the-money put options)
-
Shacknews
replyAsif Khan posted a new article, GameStop (GME) Executive Chairman Ryan Cohen says 'Disk drives should be required on consoles'
-
Hey, I can play this game too!
A 60 FPS mode should be required on consoles.
Online multiplayer without a subscription should be required on consoles.
Compatibility with previous gen controllers should be required on consoles.
Cross-platform multiplayer should be required on consoles.
Who exactly is requiring this, again?
I'd like all of this stuff but it's pretty obvious none of it will happen, just like maintaining disk drives. -
“Manufacturers are obligated to make products that support my business.”
-
CEO calls for more government regulations that protect his business.
-
-
Wait, disk or disc?
-
-
This, took me a second too.
-
-
-
I loved having the disk drive on my Super Wildcard DX2. Loading romhacks and being able to play them on a real SNES was so much fun at the time, ages before we had simple flashcart solutions. Translations at the time were really nascent and rough around the edges, but it was such an exciting era for the platform that had otherwise died out a few years prior.
-
-
They're slowly becoming like Radio Shack.
-
Or Blockbuster
-
Exactly. Their cries about bringing back optical drives reminds me of Mortimer on Trading Places when he was begging to turn the machines back on after losing several million on orange futures.
"Now, you listen to me! I want trading reopened right now. Get those brokers back in here! Turn those machines back on!"
https://www.youtube.com/watch?v=j4SRsGn14PI
-
-
-
That’s why they’re getting into NFT’s and crypto.
-
-
-
It's not that bad here but I haven't been to the mall locations in probably a year or two. I usually go to the standalone GameStops at least once a month to use my monthly $5 discount (from power up rewards subscription) to let my kid get a pack of Pokemon cards. They're usually open until 8pm.
-
-
-
-
-
-
or it performs like crap because it's missing the day one patch.
-
-
Disks eventually fail too.
-
-
Think it’s pretty much a given next gen consoles won’t bother with disks. Saves BoM and maxes revenue for their digital storefront. Sucks for retail but their model is destined to fail.
-
I agree that consumers should require them. Just refuse to buy anything without a drive, because you know the online stores will eventually get shutdown like DS, Wii, 3DS, and Wii U.
