Tag Archives: GameStop

GameStop’s ugly fourth quarter and light-on-the-details earnings call are two of the latest examples why shares of video game retailer turned NFT marketplace probably doesn’t deserve to trade at the levels they do, argues one veteran strategist. “This is not a normal investing situation. There is nothing normal about this. So the stock is going to do what it’s going to do. My gut — based on my history of watching stocks like this — is they usually resolve themselves to where they should… Source link

Activist investor Jonathan Duskin at Macellum Capital Management fought a failed management team at Bed Bath & Beyond and won big in 2019. Duskin — whose successful campaign led to a board overhaul and ultimately the addition of current Bed Bath & Beyond CEO Mark Tritton — tells Yahoo Finance Live what GameStop Chairman Ryan Cohen is doing with the home goods retailer makes sense. “Ryan has a great following and is very well respected,” Duskin says. “I think we’ve articulated there is a… Source link

Beyond disappointing. That’s the overarching theme behind a scathing new note from GameStop Chairman Ryan Cohen to the board of Bed Bath & Beyond (BBBY). The Chewy billionaire turned wanna-be-savior of once proud retail organizations has disclosed a 9.8% stake in Bed Bath & Beyond. Cohen says Bed Bath & Beyond’s execution under CEO Mark Tritton has bordered on terrible, compensation is not realistic and the business should be split up (Buy Buy Baby business sold off) and then sold in entirety… Source link

GameStop Chairman Ryan Cohen — aka leader of the meme stock army (apologies to AMC CEO Adam Aron) — has grand ambitions for the company, says its new NFT marketplace partner. “The default is gaming,” Immutable X co-founder Robbie Ferguson said on Yahoo Finance Live when asked about Cohen’s vision for GameStop. “The one-stop, ultimate destination in which everyone can come and trade their in-gamed owned items.” Ferguson’s team will help GameStop achieve that mission. The pair inked a deal… Source link

GameStop’s (GME) stock surged as much as 30% in after hours after a report that the video game retailer is launching a marketplace for non-fungible tokens (NFTs), a move which had been telegraphed last year.  GameStop is also reportedly creating partnerships with two crypto companies to “share technology and co-invest in the development of games that use blockchain and NFT technology, as well as other NFT-related projects,” according to people familiar with the plans who spoke to the… Source link

(Bloomberg) — Robinhood Markets Inc. and Citadel Securities responded to renewed criticism of their actions during January’s meme-stock frenzy, after retail investors filed a class-action lawsuit last week. Most Read from Bloomberg Citadel Securities, whose founder Ken Griffin testified about the episode during a February congressional hearing, fired off a series of tweets late Monday denying allegations that it pressured Robinhood to restrict trading. Robinhood, led by Chief Executive… Source link

Not even speculation of a partnership with fellow meme stock trader favorite AMC Entertainment has been enough to arrest the selling pressure in shares of one-time 2021 market darling GameStop (GME).  Shares of the gaming retailer turn self-described tech company have dropped 12% so far in September, far worse than the 2% respective drops in the S&P 500 and Nasdaq Composite. GameStop’s stock is also among the laggards of the popular meme stock group this month — AMC’s stock has gained 8.5%… Source link

The GameStop phenomenon hit corporate America in the coffers this week. On Sept. 16, MassMutual paid a $4 million fine to settle a litigation with Massachusetts securities regulators, according to a Wall Street Journal report.  The financial-services company got busted for not properly supervising Keith Gill, the 34-year-old MassMutual employee and YouTuber, who went by the alias “Roaring Kitty” on social media. Gill gained a cult-like following among retail investors on Reddit for posting… Source link

GameStop (GME) shares turned positive Thursday afternoon after dipping as much as 10% post quarterly earnings. The stock closed fractionally higher at $199.18 each.  Shares of the video-game retailer had opened lower on Thursday after the company reported an adjusted loss per share of 76 cents with revenue of $1.18 billion for its 2nd quarter. The stock rallied back just above the flat line by the afternoon to end the session in the green.  On Wednesday management said the company has enough… Source link

GameStop (GME) apparently no longer sees itself as a retailer under the dual leadership of new chairman Ryan Cohen and CEO Matt Furlong, but rather as a tech company perhaps some day worthy of being in the same discussion as an Apple (AAPL), Microsoft (MSFT), and Google (GOOG, GOOGL).  “GameStop has two long-term goals: delighting customers and delivering value for stockholders. We are evolving from a video game retailer to a technology company that connects customers with games,… Source link