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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.
Until it drew the interest of Redditors on a discussion board called r/WallStreetBets, GameStop was dying a slow death along with brick-and-mortar shopping malls, where the largest video game and ...
GameStop's first quarter came in worse than Wall Street had hoped, with revenue of $1.24 billion coming in short of analysts expectations for $1.34 billion. Shares of GameStop fell nearly 20% at ...
GameStop’s cash grab came right before the company reported preliminary financial results this morning, where it disclosed that first-quarter sales were down almost 20% year over year and it has ...
However, in May 2020, it was announced that Stage had filed for bankruptcy and would be going out of business, liquidating its nearly 800 department stores with no buyer found for the chain. [ 150 ] Guitar Center laid off 180 of its 7,000 employees in 2015; by 2018, the retailer was said to be on the verge of bankruptcy due to unsustainable ...
The small guys won, at least for a while, driving shares of GameStop up more than 1,000% in 2021, and other meme stocks as well. The struggling movie theater chain AMC jumped 2,300% in the same year. But some meme stocks including GameStop and AMC have been climbing higher again, and rapidly.
Shares of the world’s largest video game retailer tanked more than 37% Wednesday after another dismal quarterly earnings report.
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 ...