GameStop Stocks Tumble After Third Quarter Reports
After the third-quarter earnings report, GameSpot’s shares fell to $5.20, which is a whopping 19.51% from yesterday’s closing price of $6.51 a share. Ironically, the actual revenue reported was positive but with an inability to offset overall spending, cutting profits from $558 million to $441 million. It’s a pretty massive drop, even compared to the last few quarters.
With the rise of digital as well as an excessive proliferation of stores, there’s been a lot of worries about the future of the chain in recent years. The company is reportedly looking to renovate stores with more of a focus on social aspects and esports. Whether that will help or not in the long run is anyone’s guess. The store remains the only real gaming focused specialty chain around, and really one of the last specialty stores in general, so it’ll be interesting to see just what the future holds.
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Related Forum: Gaming Discussion
Source: https://gamingbolt.com/gamestop-stocks-tumble-after-third-quarter-reports
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Comments
EvoVIIIPosted:
Honestly it's their own fault like i get stuff loses value but because ive been ripped off so much by them its just more worth it to buy games directly from the store. The only purchases i will make from them are accessory's and new consoles.
ZemaPosted:
not surprised at all gamestop will be the last place i ever go to buy something gaming related
TTGPosted:
GameStop has been in a downward spiral for a long time, honestly not surprised. This used to be the place we all remember from our childhood, where we would go to pick up anything video game related. Now you walk in the store and ask yourself where am I?
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