1. GameStop has 2 years worth of cash left, even with their 2020 cash burn rate, which is literally the last year of the current console cycle.
2. 20-25% of new consoles do not have disk drives, 75-80% of them has. Also, GameStop sells digital games, accessories, Funko-Pop and PC Hardware too.
They will make at least $400-600 million net profit next year. The average retail P/E ratio is 20x. That translates to a $8-12 billion market cap by early 2022, give it a 50% discount, that is still over $40 by end of March 2021.