Tag: Gamestop
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Digging into GameStop Corp.’s annual report today, which just came out after yesterday’s market close, a couple numbers really stuck out to me: Sales are down 40% in 2 years Shareholder equity is down 80% in 2 years And lest we blame COVID for all of this, note that the…
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GameStop’s chief customer officer is resigning from the video-games retailer, per a Tuesday Securities and Exchange Commission filing released hours before the company announced its 2020 earnings. The filing said that Frank Hamlin, who also serves as executive vice-president, would leave the company on March 31, following a transition period.…
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Many investors are excited about Chewy founder Ryan Cohen joining the GameStop Corp. board and helping the company transition to e-commerce. But what isn’t as widely known is that GameStop has tried this before, with abysmal results: Wall Street and short sellers placed heavy bets against GameStop because of strategic…
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+ Business+ Day trading, E-commerce, Finance, Gamestop, GME, Investing, Reddit, Stock Market, Stocks, Video games, Wallstreetbets+
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I came across an incredible stat on the video game industry this morning. In just nine years, it’s gone from almost entirely physical to almost 100% digital: Physical video game sales from computers & consoles have made a dramatic shift since 2009. In 2009 physical sales still accounted for 80%…
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I came across an interesting article today. It drew a parallel between a dominant brick and mortar retailer of entertainment of today, GameStop, and one of yesteryear: Blockbuster: It’s 100% obvious that over time all game software is going to be downloaded. This is the same or worse than with…
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+ Business+ Day trading, E-commerce, Finance, Gamestop, GME, Investing, Retail, Stock Market, Stocks, Video games, Wallstreetbets+
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An interesting detail surfaced in this week’s Congressional hearing on GameStop shares and Robinhood, the platform where they’re often frenetically traded: In his statement, Themis Trading Partner Sal Arnuk went right for that last issue, calling attention to the fact that payment for order flow (PFOF) causes a disconnect between…
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Congress held a second hearing on the mania in GameStop Corp. shares yesterday. It focused on the business model used by Robinhood and other brokers popular with retail traders, which is called “payment for order flow.” In this system, companies that execute trades (such as Citadel Securities) pay the broker…
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Short sellers are abandoning their positions as the market reaches new highs: Short interest in U.S. stocks fell to just 2.95% by the end of February, S&P Global Market Intelligence says. That’s down 45 basis points from the short interest level at the end of 2020 when it was 3.4%.…
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+ Business+ Finance, Gamestop, Investing, Meme stocks, Reddit, Short sellers, Stock Market, Stocks, Wallstreetbets+
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At 10am Eastern time today, Congress will be having its second hearing about the frenzy in GameStop Corp. shares that sent the stock up 1700% in January. This hearing is unlikely to affect the price of the stock much. Rather, it will dig into whether or not the trading system…
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GameStop Corp. soared in January as short sellers were squeezed by a legion of buyers from Reddit’s Wallstreetbets. The shorts had to buy in order to close out their positions and stanch the bleeding, driving the stock even higher. It seems they’ve learned their lesson. Short selling of GameStop shares…
Tremendous 