GameStop Stocks Tumble After Third Quarter Reports

The retailer chain continues having bad news.

Posted By | On 12th, Dec. 2019 Under News


GameStop

The retailer chain, GameStop, was once a juggernaut of the brick and mortar space, but time has not been kind to that space and GameStop has suffered a good deal because of it. It’s been constant reports of dipping stocks, and the latest one is no different, unfortunately, as stocks and value continue to tumble downward.

After the third-quarter earnings report, GameSpot’s shares fell to $5.20, which is a whopping 19.51% from yesterday’s closing price of $6.51 a share. Ironically, the actual revenue reported was positive but with an inability to offset overall spending, cutting profits from $558 million to $441 million. It’s a pretty massive drop, even compared to the last few quarters.

With the rise of digital as well as an excessive proliferation of stores, there’s been a lot of worries about the future of the chain in recent years. The company is reportedly looking to renovate stores with more of a focus on social aspects and esports. Whether that will help or not in the long run is anyone’s guess. The store remains the only real gaming focused specialty chain around, and really one of the last specialty stores in general, so it’ll be interesting to see just what the future holds.


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