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When I invested in GameStop just over two years ago, the mainstream media considered the brick-and-mortar retailerthe next Blockbuster, with the companyvalued for an inevitable bankruptcy. In October 2020, I shared the GameStop thesis in myUniversity’s Stock Pitch competitionand was told to “...
The marketplace saw an initial volume surge but has since leveled off and may not be the ticket to a stable digital presence the company had hoped it would be. Still, Furlong said on a call with investors that compared to 2021, when many "predicted we were heading for bankruptcy," the ...
GameStop said last month that it had ended its partnership with FTX, after the crypto exchangefiled for bankruptcy. Just months earlier, GameStop had announced the partnership with the aim of introducing its customers to the crypto world and marketplace, and had also started carrying FTX gift c...
Essentially, the shorts were betting on bankruptcy for the struggling retailer. Believe it or not, not all shorts are looking for their positions to go to zero. It could be that the stock has run too far or that it’s overvalued. In the case of GameStop though, they absolutely we...
largely from the meme stock phenomenon. Cohen’s message to employees was blunt and uncompromising: “Every expense at the company must be scrutinized under a microscope, and all waste eliminated.” He stressed the need for employees to treat company funds as their own and emphasized that ...
The investor at the center of the pandemic meme stock craze says he still believes GameStop’s management team can turn the struggling video game retailer around.
This sort of thing happens every so often. The NPR podcastPlanet Moneydida story earlier in the year about Hertz Car Rentalswhen declared bankruptcy earlier this year… due to the fact that they had no cash reserves to speak of because they have spending all their money on stock buy backs...
In early trading the company's stock soared 46% to $25.70. The Texas-based retailer on Tuesday reported a net profit of $48.2 million for the fourth quarter ending on Dec. 31, compared with a loss of $147.5 million in the year-ago period, according to a regulatoryfiling. ...
Stay Away From GME Stock At This Valuation Putting aside the idea that the company could execute a secondary offering, there’s likely to be an orderly drop in GME stock. And the elevated share price takes bankruptcy off the table in the short term. ...