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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.
The GameStop short squeeze, starting in January 2021, was a short squeeze occurring on shares of GameStop, [19] [20] primarily triggered by the Reddit forum WallStreetBets. [21] [22] This squeeze led to the share price reaching an all-time intraday high of US$483 on January 28, 2021 on the NYSE.
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 ...
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]
By almost any measure, GameStop is a difficult nut to crack. The company has been fighting obsolescence ever since digital distribution caught on, and news swirling around next-generation consoles ...
Science & Tech. Shopping. Sports
There is a common comparison between GameStop and just about every other single media retailer that's ever gone out of business. Whether it's Borders, Blockbuster, or Virgin Megastore, there's ...
On Monday, GameStop shares sank about 15% to $24.06, following a dive of nearly 40% on Friday after the company reported a drop in quarterly sales. GameStop tumbles for second day as meme-stock ...