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A GameStop store in 2014. GameStop, an American chain of brick-and-mortar video game stores, had struggled in the years leading up to the short squeeze due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.
A GameStop store in a mall. In September 2019, Gill, under the username "u/DeepFuckingValue", posted on the subreddit r/wallstreetbets a screenshot of a trade consisting of a roughly $53,000 long position in GameStop; [8] Gill's Reddit posts and YouTube videos argued (through both fundamental and technical analysis) that the stock was undervalued. [3]
The number of consumers who have come to expect free and easy returns is increasing. Some 32% of Americans said they plan to only purchase from retailers who offer free shipping and free returns ...
GameStop's Australian subsidiary EB Games Australia was the only arm of the global GameStop business not to report huge COVID-related losses, with sales instead soaring by 30 per cent. In Australia COVID-19 lockdowns were managed by the Australian Federal Government National Cabinet which largely permitted retail stores to remain open with ...
GameStop has about a quarter of its publicly available shares in short position and the bearish investors were set to lose $1.23 billion on paper on Monday, analytics firm Ortex said.
Gill’s last E*Trade post showed he’s up $50 million, but that’s small fry after briefly being within reach of becoming a billionaire hours before he turned 38 this month. Still—unless he ...