GameStop is a US Fortune 500 company operating in the gaming software industry. It provides video game titles, advanced video game hardware, consumer electronics and accessories. The GameStop brand family includes GameStop, international electronic games retailer EB Games, French video game retailer Micromania, and digital magazine Game Informer. The company operates retail stores in the US, Canada, New Zealand, Australia and Europe.
GameStop shares are listed on the New York Stock Exchange (NYSE) under the ticker symbol GME. The company is a constituent of the S&P 600 Index, a stock market index established by Standard & Poor's that includes American small-cap stocks.
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The company traces its roots back to 1984, when a small educational software retailer called Babbage’s opened for business in Dallas, Texas. It then acquired Software Etc., was sold to Barnes & Noble, and merged with Funco Inc. In 2000, the business was renamed GameStop. Two years later, the company held an initial public offering on the New York Stock Exchange, and in 2004, GameStop was spun off from Barnes & Noble. A number of further acquisitions followed, including Electronics Boutique Games in 2005, Micromania in 2008, and Geeknet Inc. in 2015.
The company’s financial health has been on a decline for a few years as gaming demand has been shifting from physical game media toward online services that offer downloadable digital versions of games. In fiscal 2015, GameStop reported a net income of $402.8m, which then slid to $353.2m in 2016 and $34.7m in 2017. In fiscal 2018, the business reported a record-breaking net loss of $673m.
In 2020, the company was forced to temporarily close its bricks-and-mortar stores due to the Covid-19 outbreak. However, the company continued with online and curbside sales, which helped to partially offset the damage brought by the pandemic.
With Capital.com’s GameStop stock chart you can not only quickly view the current GME share price, but also trace the company’s share value in historic terms.
The GameStop stock value has also been on the slide in recent years as the company has grappled with the steady shift to online purchases of video games. The GME share price, which stood at over $50 in November 2013, fell below $30 in 2016 and under $20 at the end of 2017. By the end of 2018, the shares were trading at just $12.28, right before dipping even lower to close 2019 at $6.
GME stock bottomed out at $2.57 per share in March 2020 during the broader market selloff caused by the Covid-19 pandemic. It then gained an upside momentum, making steady gains and crossing the $15 mark at the end of November 2020. The stock closed 2020 at $18.84 per share.
The share price continued rising in early 2021, reaching an all-time intraday high of $483 on January 28, posting a growth of more than 2,440 per cent year-to-date. The hike was fuelled by retail investors running to buy the GME shares, as well as those in AMC Entertainment (AMC), BlackBerry (BB) and Bed Bath & Beyond (BBBY), spurred by Reddit’s community WallStreetBets that suggested smaller retail investors to team up against the Wall Street short sellers and short squeeze the company’s stock.
However, the rally soon came to an end. Once short interest in the stock returned to the 2010 level, the share price plunged and closed the trading session on February 8 at $60.
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