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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.
Impulse was a digital distribution and multiplayer platform. Originally developed by Stardock to succeed Stardock Central, it was purchased by GameStop in March 2011, [2] [3] and was subsequently rebranded as GameStop PC Downloads, with the client being renamed GameStop App. [4]
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]
GameStop shares surged 74% on Monday after the account run by Keith Gill shared a meme on X, marking its first post in three years. The shares skyrocketed by more than 110% earlier and were halted ...
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 ...
GameStop isn't done shrinking. After booking two years of falling comparable sales, the company has yet to engineer a stop to the slide in any of its core businesses. Last quarter was no exception.
GameStop's total revenue fell 7.6% to $3.06 billion in the quarter ended February 2, 2018. [ 105 ] Business Insider described GameStop's investment in Spring Mobile as a failure, with estimates that the company spent $1.5 billion on acquisitions on Spring Mobile and store locations, but only gained $700 million from the sale of Spring Mobile to ...
[1] [2] The two-episode series was released on March 3, 2022 on HBO Max. It explores the causes that led to the 2021 GameStop short squeeze , and the dark underbelly of Wall Street that the phenomenon unearthed: payment for order flow , creative accounting , abuses of the short selling mechanism like naked short selling , corporate overvoting ...