- Gamestop She says she plans to focus on trading card to go ahead. This comes at a time when the digital video game industry grows increasingly. The shares of the company fell 20 % on Thursday after announcing the sale of bonds.
Gamestop pour money in Bitcoin, but this is not the company’s main focus these days.
CEO Ryan Cohen said at the company’s annual shareholders meeting that the video game industry is increasingly escalating, and bypassing retailers of software sales, Gamestop is the focus of trading card work.
CDs, such as Pokemon and Baseball Cards, make up 29 % of the company’s sales in the first quarter – video game, company I mentioned Earlier this week.
Gamestop was originally Mim share It still has a large percentage of individual investors. Recently, though, their belief in Cohen and the company appeared to be dwindling. The shares fell 20 % on Thursday after Gamestop announced the sale of bonds of $ 1.75 billion.
This follows a A similar significant decrease At the end of May, when the company announced it was Buy 4,710 bitcoin For about $ 500 million. The shares have decreased by 35 % from the day before the announcement. Year to date, Gamestop 26 % shares lost their value.
Analysts threw their hands largely when it comes to the company, which no longer carries the calls of analysts or provides instructions.
“The entry of Gamestop in the field of trading card has achieved modest success, but we do not see any possibility to bounce in Gamestop’s basic work, after failed attempts in a multi -channel strategy and NFT trading,” Michael Pashter of Wedbush said in a memorandum of investors earlier this month. However, although completely lacking a joint strategy, Gamestop has been constantly able to benefit from the presence of “greater major” ready to pay more than twice the value of its assets to its shares – and until now, it was right. “
This story was originally shown on Fortune.com
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