Wednesday, February 19, 2020

GameStop Execs In Panic Mode As Sales and Morale Slump

There is something really  wrong if you lose money giving people $5 for a AAA game and reselling if for $40.

In November 2018, GameStop reported a third-quarter loss of $488.6 million, which led to rumors of a buyout. As a whole, the company lost a record $673 million in 2018. A few months later, GameStop announced it was no longer pursuing a buyer, and the company's stock dropped to its lowest value in 15 years.