What is GameStop?

What is GameStop?

What is GameStop? GameStop is an American high street shop that sells games, consoles and other electronics. The sort of thing you’d find between a doughnut shop and a makeup retailer in an American mall. It’s not anything new and exciting, in fact it wasn’t doing very well because of the pandemic.

Why is GameStop still open during the covid-19 outbreak?

The COVID-19 virus quickly swept through the country, causing all non-essential businesses to shut down. Instead of closing all the GameStop locations temporarily, the company decided to stay open despite pressure from the government.

Does GameStop have a store in France?

GameStop, which had previously owned no stores in France, now had 332 French video-game stores. In November 2009, it acquired a majority stake in Jolt Online Gaming, an Irish browser game studio. Jolt closed in 2012.

Is GameStop failing in New York City?

We visited a handful of GameStop stores in New York City, and it was evident why the company is failing. GameStop representatives did not respond to a request for comment as of publishing.

What is the GameStop 52-week low stock price?

The GameStop 52-week low stock price is 5.87, which is 97.1% below the current share price. The average GameStop stock price for the last 52 weeks is 114.27.

Why is GameStop in the news in 2021?

The company received significant media attention during January and February 2021 due to the volatility of its stock price and the GameStop short squeeze . In addition to retail stores, GameStop owns and publishes Game Informer, a video game magazine. The company is ranked 521st on the Fortune 500.

How many GameStop stores are there in the US?

The company is headquartered in Grapevine, Texas (a suburb of Dallas ), and is the largest video game retailer worldwide. As of January 30, 2021, the company operated 4,816 stores including 3,192 in the United States, 253 in Canada, 417 in Australia and 954 in Europe under the GameStop, EB Games, ThinkGeek, and Micromania-Zing brands.

When did GameStop start selling video games?

Three years later, in 1999, Babbage’s Etc. launched its GameStop brand with 30 stores in strip malls. The company also launched gamestop.com, a website that allowed consumers to purchase video games online. GameStop.com was promoted in Babbage’s and Software Etc. stores.

What happened to the GameStop short squeeze?

Short sellers who had bet against GameStop suffered large losses as a result of the short squeeze. By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53 percent of its investments.

How many GameStop shares were sold short?

Approximately 140 percent of GameStop’s public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further.

What was GameStop’s highest intraday stock price?

As of January 28, 2021, the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.

What are GameStop’s operating segments?

GameStop is divided into two operating segments: Video Game Brands and Technology Brands. The Technology Brands segment was created during the fourth quarter of 2013, and houses the companies Simply Mac, Spring Mobile, and Cricket Wireless.