"It's not about the money. It's about sending a message." THE GAMESTOP SAGA

GameStop, a brick and mortar video game retail store headquartered in the US sent shockwaves across Wall Street in the beginning of this year! The stock went from as low as $19 on Jan 12, 2021 to whopping $347 on Jan 27, 2021!

(Source: Bloomberg)


A retail video game store with declining sales became the hot shot topic across the world. A story is to follow, let's find out!


BACKGROUND


To tell you guys very briefly, GameStop is the largest US retailer selling video games and PC entertainment software including the new and used video game equipment. The retailer has close to 2000 stores across geographies. The company has made billions through video game selling and is currently trading at $194.49 on the New York Stock Exchange, while I am writing this blog.

The company hasn't been much profitable over the years since and the sales revenue of the company has seen a steep decline after 2010, since we all know how people switched to downloading games online rather than buying them from a brick and mortar store.

(Source: Macro Trends)



MANIA: THESTOCKWAR