What happened with GameStop stock?
2 days ago · While GME stock has been volatile over the past 15 months, it still remains notably higher. Over the last two weeks, its stock has dropped almost 24%. Going back even further, though, the stock is ...
Did GameStop issue more shares?
Mar 11, 2022 · Annual revenue is still down sharply from its peak back in 2017. Since then, GameStop has been struggling to find a path toward consistent sales growth as video-game spending shifts online. It...
Why did GameStop stock rise?
Mar 28, 2022 · GameStop's stock is extremely risky and could easily see declines on par with the 70% spike investors have seen over the past few trading days.
When will GameStop stock drop?
Dec 22, 2021 · The stock has dropped almost 33% in the past month -- a period that included its latest quarterly financial update and some news that should have pleased GameStop's retail investors. But the ...
Why is GameStop stock going down?
The decline added to significant short-term losses for investors. GameStop's shares are down over 20% so far this year compared to an 8% drop for the market. Thursday's decline came after a rival retailer announced its own holiday season results.Mar 3, 2022
Is it a good idea to invest in GameStop stock?
GameStop is down 70% from record highs but remains a high-risk bet for investors given its negative profit margins and falling revenue. One of the most traded stocks in the last year, GameStop (NYSE: GME), has taken investors on a roller-coaster ride.Jan 20, 2022
Why is GameStop a bad company?
The obvious problem with GameStop ( GME -10.04% ) is that it sells physical video game discs out of thousands of stores in a world where games are increasingly going digital. The pandemic has made the situation much worse as would-be video game buyers pivoted hard toward digital downloads and buying games online.Feb 1, 2021
Is GameStop still being shorted?
The dollar volume shorted in GME stock at the end of January 2021 was $4.1B and has since decline significantly. Today, about 24% of GameStop's float remains collectively shorted by different investors. Most of them are likely still hedge funds but it remains unclear at what point a short position was initiated.Feb 12, 2022
Is GameStop still a thing?
Back in 2016, GameStop ran 7,117 stores. And in the 12 months ended in January 2016, sales at stores open at least a year rose 4.3%. But now many people just download games to their phones or computers. Now GameStop runs just around 5,000 stores.Dec 9, 2021
Is GameStop reliable?
GameStop has a consumer rating of 3.44 stars from 413 reviews indicating that most customers are generally satisfied with their purchases. Consumers satisfied with GameStop most frequently mention great place and trade ins. GameStop ranks 7th among Games sites.
Is GameStop a bad place to work?
A US study utilising employee submitted data has named GameStop as the tenth worst place to work in the USA. Website 24/7 Wall St. used information from Glassdoor, which allows employees and ex-employees to rate the companies they work for in terms of enjoyment and customer service.Aug 13, 2012
Is GameStop dying?
GameStop may be the largest video-game retailer, but it's a dying one, and it's been that way for years. The COVID-19 pandemic shot a much-needed jolt of life into GameStop as people sought at-home entertainment.Jan 31, 2021
Key Points
GameStop will be supporting crypto payments including Shiba Inu and Dogecoin.
NYSE: GME
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What happened
The glow seems to be fading on shares of original meme stock GameStop ( GME -4.82% ). The stock has dropped almost 33% in the past month -- a period that included its latest quarterly financial update and some news that should have pleased GameStop's retail investors.
So what
Earlier this month GameStop disappointed investors when it reported its fiscal third-quarter financial results with no major update on its transition to an e-commerce business. Last week, digital payments network company Flexa announced on Twitter that GameStop will use its network to accept cryptocurrency payments including Shiba Inu and Dogecoin.
Now what
When retail investors turned GameStop into the first meme stock earlier this year, they expected the troubled brick-and-mortar retailer to turn into an online giant. GameStop brought in Chewy co-founder Ryan Cohen, and investors drove institutions to push shares up by covering their short positions.
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Why did AMC stock spike?
Earlier this week, AMC’s stock spiked after the company announced it would avoid bankruptcy with new financing. In normal times, the news wouldn’t have necessarily boosted the shares — the financing means AMC is going deeper into debt and will water down its existing shareholders. This time, it has been different.
What does Gamestonk mean?
Users had rejoiced Tuesday evening when Tesla CEO Elon Musk tweeted “GameStonk,” an acknowledgment of a meme that they use to attack the stock. Likewise, the Winkelvoss twins have been firing off pro-squeeze tweets and claiming “The inmates are running the asylum.”.
Completely Efficient Markets Are Not Realistic
Even staunch advocates for efficient markets, generally don’t believe markets are accurate everywhere all the time. There needs to be some so-called friction in markets in order for investors to exploit and make money.
Ultimately Prices Are Where Buyers And Sellers Meet
Finally, prices are where buyers and sellers meet. No one argues that efficient markets are broken when a company that’s due to be taken private at a fixed cash price doesn’t see it’s stock rally because it reports a strong quarter before the deal closes.
Some are trying to position the GameStop populist uprising as something bad, even a "Ponzi Scheme." It's not. This is part of the game, and just because it's a new component doesn't make it any worse than what hedge fund managers do
A subreddit, r/WallStreetBets, has caused mass hysteria in the financial markets as many hedge funds and Wall Street elites have lost billions as a result of their GameStop play. Was what they did “market manipulation?” Absolutely. Is that inherently wrong or even illegal. Absolutely not.
COVID-19 lockdowns are taking down an independent news outlet
Colleagues have called me the worst fundraiser ever. My skills are squarely rooted on the journalistic side of running a news outlet. Paying the bills has never been my forte, but we’ve survived.
One Sick Day Proves We Need More Voices in Truthful Media
On October 19, I was sick. It crossed my mind that I had finally gotten the ‘rona, but my wife’s cream of chicken soup and a few extra hours of sleep into mid-afternoon had be back up and running after a sleepless night before.
