Gamestop Corp. (GME)
Summary
GameStop Jumps 9% on Record Profit, $2 Billion Buyback as eBay Bid Battle Intensifies
Shares of GameStop (NYSE:GME | GME Price Prediction) are up 9% to $22.79 on Wednesday morning, snapping back from a brutal stretch after the video game retailer posted its highest quarterly net income on record and approved a fresh $2 billion buyback.
GameStop wants to buy back $2 billion of its own stock after an eBay-fueled selloff
The videogame retailer also said that collectibles helped drive a 14% sales gain in the first quarter.
Wall Street awaits GameStop CEO Cohen's next move after eBay rejected takeover bid
GameStop CEO Ryan Cohen shared few details when he said he would do "whatever we need to do" to buy eBay after the e-commerce company rejected his $56 billion unsolicited takeover bid as "neither credible nor attractive."
Gamestop Corp. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Point72 Asset Management LP Point72 Asset Management LP | 1.36M | $29.71M | $30.26M | $557,290.3 | 1.88% |
| DD Damir Durkovic Entropy Technologies, LP | 39,298 | $905,426 | $871,629.64 | -$33,599.87 | -3.71% |
| AS Alexandra Stickelman Root Financial Partners, LLC | 405 | $9,235.06 | $8,982.9 | -$250.13 | -2.71% |
| NRG Nemes Rush Group LLC Nemes Rush Group LLC | 6 | $164 | $133.08 | -$30.89 | -18.83% |
| AH Andrew Halac Talon Private Wealth, LLC | 2,800 | $68,292 | $62,104 | -$6,174 | -9.04% |
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Gamestop Corp. Profile
| Specialty Retail Industry | Consumer Discretionary Sector | Ryan Cohen CEO | NYSE Exchange | 36467W109 CUSIP |
| US Country | 6,000 Employees | 26 Jun 2018 Last Dividend | 22 Jul 2022 Last Split | 13 Feb 2002 IPO Date |
Overview
GameStop Corp. stands as a specialty retailer dedicated to delivering games and entertainment products across various platforms including in-store and online points of sale. Established in 1996 with its headquarters in Grapevine, Texas, the company has expanded its presence to serve customers in the United States, Canada, Australia, and Europe. Through its diverse brand portfolio, including GameStop, EB Games, Micromania, and Zing Pop Culture, GameStop Corp. caters to a wide audience ranging from gaming enthusiasts to pop culture and technology aficionados. Further diversifying its offerings, the company has ventured into digital asset wallet and NFT marketplace activities, marking its stake in the evolving digital collectibles space. Originally known as GSC Holdings Corp., GameStop has evolved to become a central hub for both new and pre-owned gaming and entertainment products.
Products and Services
GameStop Corp. offers an array of products and services tailored to meet the varied needs of gamers and pop culture enthusiasts, including:
- Gaming Platforms: The sale of new and pre-owned gaming consoles provides customers with a range of choices to suit their gaming preferences and budgets. This includes the latest consoles to older, more nostalgic systems.
- Accessories: Offering a wide selection of accessories such as controllers, gaming headsets, and virtual reality products, GameStop enhances the gaming experience by ensuring gamers have the tools they need for immersive gameplay.
- Gaming Software: A comprehensive catalogue of new and pre-owned video games allows gamers to find their favorite titles across various genres, platforms, and price points. This includes everything from blockbuster releases to indie gems.
- Digital Goods: For the digital enthusiast, GameStop provides in-game digital currency, downloadable content (DLC), and full-game downloads, catering to the growing preference for digital gaming experiences.
- Collectibles: The retailer also taps into the pop culture market with a wide array of collectibles such as apparel, toys, trading cards, and gadgets, serving the interests of a diverse clientele ranging from gamers to pop culture fans.
- Digital Asset Wallet and NFT Marketplace: Venturing into the digital collectibles space, GameStop engages customers with its digital asset wallet and NFT marketplace activities, offering a platform for buying, selling, and trading digital collectibles.
- Game Informer Magazine: Beyond physical and digital products, GameStop offers Game Informer magazine, a publication that caters to gaming enthusiasts with the latest news, reviews, and insights into the gaming industry.
