GameStop and FTX US form partnership amid deepening losses for video game retailer
GameStop's NFT platform eclipses Coinbase’s offering since July launch
Company
NYSE:GME
GameStop Corp. is a retailer of video game products and personal computer (PC) entertainment software. The Company sells new and used video game hardware, video game software and accessories, as well as PC entertainment software, and related accessories and other merchandise.
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GameStop's NFT platform eclipses Coinbase’s offering since July launch
Net sales were US$1.14 billion for the quarter, compared to $1.18 billion in the prior year’s second quarter, showing a loss of $108.70 million
With Ether down nearly 70% this year, and NFT sales falling precipitously, GameStop's NFT marketplace is just in time to get its foot in the door of the NFT market, valued at US$25bn last year
GameStop's layoffs are reportedly on its corporate side rather than in its stores, and are intended to "reduce bloat"
GameStop is to report earnings next month and shareholders will vote on the stock split proposal
"The move higher in these stocks could have been exacerbated by a short squeeze," said one analyst
Shares can also be traded easier, in theory, as there are more of them to buy and sell
As a stock split increases the number of shares and the price per share decreases proportionately, it is supposed to make the shares easier for small shareholders to buy
The network will be powered by Loopring's layer 2 protocol
Hardware & electrical equipment
GameStop shares surged 30% higher at one point yesterday
CEO Matt Furlong acknowledged the impact of supply chain problems in a conference call with investors
Ryan Cohen's letter lamented heavy shareholder losses in last decade while suggesting the sale of BABY
The price of the so-called meme-stock surged in after hours trading as rumours of the NFT venture spread
There was fresh headache for the former employer of GameStop advocate and prolific stock-trading content creator Keith Gill
The video game retailer’s meme-stock fans had hoped for an update on the company’s turnaround strategy and future outlook, but there were no details forthcoming in the results statement or in the webcast with the new management
The outlook might be everything for the memestock retailer.
Buying interest in GME and AMC cooled early on Wednesday.
Electric carmaker Tesla and video games retailer GameStop were the most popular overseas-listed companies in the first half of 2021
Hedge fund White Square Capital has told investors that it will shutter its main fund later this month after suffering steep losses in Janaury as buying activity sent shares in the video game retailer soaring in value