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Comment by anonymouse008 | Hacker News Reader

In today's QE-Infinity Climate - it's not unreasonable to see Chewy's executive management turning GME into a successful e-commerce and brick and mortar play.

The e-commerce business is valued at 10x in QE-infinity terms, on adjusted EBITDA, which means it's not far fetched for the story to become $888/share right now.

The only thing missing is a constant parade of upgrades from the analysts.

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Maybe if Gamestop pivots to e-commerce they can eventually come up with some way that you could buy a game online and have it delivered fully digitally, without even having to wait for shipping. Especially if they had vendor lock-in, where the games you've purchased digitally are available to you on any device -- but only through your GameStop account. Every time you log into your GameStop account to play the games you've purchased you would see the front page of their store with all the new games they've listed and the sales they're promoting.

That business model could really be worth $20B. It would be huge. Like what Netflix did to BlockBuster, but for video games.

But what's going to be their platform? Consoles? Doubt it, the manufacturers have a lockdown on the platform. PC? They might be able to enter, but they're going to have their work cut out for them considering there's steam, epic, and a plethora of first-party launchers (eg. origin or uplay).

Gamestop could build out a cloud gaming service like Stadia as one possible way to do it.

(Spoiler: that is steam.)

They're only 20 years too late on that. We now have huge established players who do that already very well. Steam and Xbox, Playstation, AppStore, Epic Store, all platforms already have a good store and a bunch of second and third tier stores. We also already have commoditized the "CD-key" reseller space with G2A and a hundred others.

But what about the antitrust issues!?

LOL, I see what you did there

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