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The funniest thing I read today: GameStop Chief Financial Officer: Consensus analyst estimates are for 8.5% growth in same-store sales, and our preliminary dat
by kgwgk 6y ago
The funniest thing I read today:
GameStop Chief Financial Officer: Consensus analyst estimates are for 8.5% growth in same-store sales, and our preliminary data suggests the number will actually be more like 8.3%. 3
GameStop General Counsel: Well obviously we have to disclose that, analysts are laser-focused on same-store sales and if we missed by 20 basis points we need to confess that before we sell stock.
CFO: It’s true, we don’t want to undermine trust with our analysts.
Hordes standing on the lawn outside GameStop’s offices (chanting in unison): GME TO 1000! DIAMOND HANDS!
CFO: Meanwhile we’ve made good progress on SG&A and we should be able to deliver better-than-expected reductions there.
Hordes: SHORT SQUEEZE! GAMMA!
GC: Let’s be really careful that those numbers are buttoned up, we don’t want to report something so material to Wall Street if we’re not sure it’s accurate.
Hordes: ROCKET EMOJI! ROCKET EMOJI! ROCKET EMOJI!
CFO: Yeah we are still trying to nail down a few items where the accounting policies are more complex.
Elon Musk (landing on lawn with a jetpack, addressing hordes): Gamestonk!!
Hordes: [sustained incoherent screaming]
GC: I am just not sure that we can get this disclosure to a point that a reasonable investor will feel confident in it.