Game on.
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GameStop is a publicly traded company, best known for selling video-game discs and cartridges in shopping malls.
This is a poor niche for a profit-seeking entity in 2021. It has never been easier to download some new lark onto your gaming console from the comfort of home. And it has never been less wise to make an unnecessary visit to a shopping mall.
Until recently, the price of GameStop shares reflected these realities. Whereas in 2007, one had to pony up $62.11 for a piece of GME (its ticker name), that figure had fallen to $18.84 by New Year’s Eve 2020. And although the firm had made a big fuss about how it was pivoting to ecommerce and would soon rise like a phoenix from the ashes (and/or shuttered strip mall), conventional wisdom on Wall Street held that its stock had nowhere to