You may not have seen this, but GameStop's stock when on a big run today:
The recently announced strong December sales, and also a shake up on the board of directors. The stock did nearly 15x average volume and was up over 50%.
I think part of the rise was a short squeeze (forced buying) and I am not too bullish on the stock overall. I think the console producers and game companies will continue to make more direct to consumer options and streaming is the future, making places like GameStop almost obsolete (not unlike block Blockbuster). Not to mention the pandemic and online purchasing options - their annual revenues were on the decline before all this. I am staying away, personally.
Do you have a strong opinion on GameStop as an investment?
Thanks for coming by,
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