Thursday December 7, 2023

GameStop Madness: Round 2

  • GameStop had another dizzying turn in the news.
  • The video game retailer's stock price more than doubled.
Photo: GameStop/Design: Alex Brooks
Linkedin
Copy Link
Link Copied
Link Copied

Three weeks after GameStop came back to earth, the once-beleaguered video game retailer returned to the spotlight with another stock rally and a fresh round of intrigue.

The company’s stock price leapt up 104% on Wednesday, and another 85% in early trading on Thursday. 

That put the price right around half of Reddit-fueled highs near $350 in January. The price had since dropped well below that peak but was still two to three times what it was in December, when the company was simply a retailer struggling to keep up with a digital marketplace.

The surge comes on the heels of news that CFO Jim Bell was forced out by the company board, a move GameStop said was unrelated to the recent hubbub. 

The gaming retailer’s good fortune is rubbing off. Esports Entertainment Group’s shares jumped nearly 30% when Citron Research Group advised GameStop to buy the gaming betting platform. Another Reddit favorite, AMC Entertainment, had a similar burst in activity, with its stock price rising 18% on Wednesday.

As for Robinhood — although the stock trading platform had to defend itself before Congress in the wake of this saga, the publicity hasn’t hurt its outlook as it moves toward a likely IPO later in the year.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Nick Saban highest paid college football head coach.

Who Is Highest-Paid Coach in College Football?

Saban remains atop highest-paid head coaches getting over $11 million annually.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.
podcast thumbnail mobile
Front Office Sports Today

Why the NBA May Have Made Billions With Midseason Tournament

0:00
0:00

Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
FanDuel
Multiple Locations
Adidas
Multiple Locations
Creative Artists Agency
Multiple Locations
The swoosh logo at Nike Eugene.

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.
June 30, 2023

Nike To Revive Kobe Signature Shoe Line

Late HOFer will again be the center of a signature shoe line.
The PGA Tour and PIF have a self-imposed Dec. 31 deadline to finalize their golf merger.
August 7, 2023

Saudi Arabia’s PIF Aims Higher With Launch of Sports-Focused Investment Company

The PIF has launched a new company, SRJ Sports Investments.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
At Dick's Sporting Goods in Fairless Hills, Store Administrative Assistant Christine Vandfermay, of Philadelphia, restocks some Philadelphia Eagles items.
May 23, 2023

Dick’s Sporting Goods Sees Modest Growth, Less Foot Traffic

Dick's Sporting Goods saw a 5.3% increase in net sales in Q1.
Hellen Obiri of Kenya crosses the finish line to win the women's division at the 2023 Boston Marathon.
May 16, 2023

On Wants More Star Power, Visibility for Next Growth Phase

On is looking to grow through tennis and other verticals.
Topgolf
May 11, 2023

Topgolf Callaway Lowers Sales Expectations

Callaway cut its profit forecast for this year.
Endeavor
May 10, 2023

Endeavor Posts Record Quarter Amid UFC-WWE Merger Plans

Endeavor bought WWE in April, it also sold its IMG for $1.25B.