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GameStop (the stock) and GameStop (the retailer) continue to be worlds apart

Accepted submission by Freeman at 2021-03-24 17:10:56 from the flame in your heart dept.
Business

https://arstechnica.com/gaming/2021/03/gamestop-the-stock-and-gamestop-the-retailer-continue-to-be-worlds-apart/ [arstechnica.com]

The last time GameStop announced its quarterly earnings, in early December, the stock market valued the video game retailer at about $1 billion. Following a worse-than-expected earnings report released Tuesday night [gamestop.com], the company now has a market cap of just under $10 billion as of Wednesday morning.

Further Reading
The complete moron’s guide to GameStop’s stock roller coaster
Sure, that's down roughly 18 percent from Tuesday's closing price, and off roughly 44 percent from a January peak that saw the stock offering become a poster child for the retail investor-driven "meme stock" phenomenon [arstechnica.com]. Still there's not much in this week's report to suggest that GameStop as a company is worth ten times as much as it was just three months ago, much less the higher valuations it briefly enjoyed in the interim.

Previously:
GameStop Shares Rise, Fall and Rise Again in Roller-Coaster Day of Trading [soylentnews.org]
The Complete Moron’s Guide to GameStop’s Stock Roller Coaster [soylentnews.org]
Console Options Without Disc Drives Could be GameStop’s Final Death Knell [soylentnews.org]
GameStop Heading Towards Possible Doom [soylentnews.org]
GameStop Posts Massive Loss as Pre-Owned Game Sales Plummet [soylentnews.org]


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