Latest news with #GameStopCorp
Bloomberg
2 days ago
- Business
- Bloomberg
GameStop's ‘Staplegate' Switch 2 Fetches $250,000 in Auction
By It could have been a marketing mess. At the release of Nintendo Co. 's new console last month, some GameStop Corp. customers found their devices' screens ruined after an employee forcefully stapled receipts to the boxes. Instead, the video game retailer transformed the blunder into another viral moment by selling one of the damaged units for about 500 times its retail price in a charity auction.
Globe and Mail
3 days ago
- Business
- Globe and Mail
Can GameStop Overcome Declines in Hardware & Software Sales?
GameStop Corp. GME reported a sharp decline in its core hardware and software segments in the first quarter of fiscal 2025, reflecting ongoing pressures in the physical gaming retail market. Hardware and accessories sales fell 31.7% year over year to $345.3 million from $505.3 million, while software sales declined 26.7% to $175.6 million from $239.7 million. Together, these segments contributed to a 16.9% drop in total net sales, which stood at $732.4 million compared to $881.8 million a year earlier. The decline in hardware and accessories suggests softer demand for consoles and related products, likely influenced by the maturity of the current console cycle, shifts in consumer spending, and the growing appeal of digital and cloud-based gaming alternatives. Similarly, the decrease in software sales highlights reduced demand for traditional physical video games, as digital downloads and streaming services continue to gain traction. Hardware accounted for 47.1% of net sales, down from 57.3%, whereas software fell to 24% from 27.2%, underscoring the shrinking contribution of GameStop's legacy businesses. These results signal structural headwinds for GameStop's traditional model, which remains heavily reliant on physical product sales despite industry trends favoring digital platforms. With more than 70% of its revenues still tied to declining segments, the company faces increasing pressure to modify its strategies. Sustained weakness in hardware and software sales highlights the urgency for GameStop to accelerate its diversification efforts into higher-growth areas such as collectibles and digital offerings to remain relevant in an evolving market landscape. GME's Price Performance, Valuation & Estimates Shares of GameStop have lost 24.4% year to date against the industry 's growth of 14.5%. GME has underperformed its competitors, including Best Buy Co., Inc. BBY and Microsoft Corporation MSFT. Shares of Best Buy have declined 17.3%, while Microsoft shares have risen 19.3% over the same period. From a valuation standpoint, GME trades at a forward price-to-sales ratio of 3.22X, slightly below the industry's average of 3.61X. It has a Value Score of C. GameStop is trading at a premium to Best Buy (with a forward 12-month P/S ratio of 0.36X) and at a discount to Microsoft (11.85X). The Zacks Consensus Estimate for GME's fiscal 2025 earnings implies year-over-year growth of 127.3% and the same for fiscal 2026 indicates a decline of 52%. Estimates for fiscal 2025 and 2026 have been upbound 28 cents and southbound 11 cents, respectively, in the past 60 days. Image Source: Zacks Investment Research GME currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report Best Buy Co., Inc. (BBY): Free Stock Analysis Report GameStop Corp. (GME): Free Stock Analysis Report
Mint
5 days ago
- Business
- Mint
Is Bitcoin competing against gold as safe haven bet amid Trump's tariff uncertainty? EXPLAINED
Bitcoin surged to all-time record on Thursday, moving past $118,000 and even crossing the $119,000 mark on Friday, before settling at $118,780. This sharp rise comes as global stock markets decline, driven by trade and tariff tensions sparked by US President Donald Trump's tariff notices to over 20 countries. The rally also marks the end of a two-month lull in the cryptocurrency market, with Ether rising above $3,000 for the first time since February. ' The milestone comes amid growing allocations into bitcoin from institutional & corporate treasuries. They are accumulating bitcoin aggressively. Strategy Inc & GameStop Corp, have joined the ranks, announcing board‑approved Bitcoin purchases. Now bitcoin looks like a safe haven asset like gold against the market uncertainity, like war, trade tariffs & political unstability,' said Anuj Gupta, Director, Ya Wealth Research & Advisory. Gold vs Bitcoin Sugandha Sachdeva- Founder-SS WealthStreet, believes that Bitcoin is increasingly earning the moniker 'digital gold' because, like the yellow metal, it tends to attract capital whenever traditional risk assets wobble. Risk appetite faltered, but Bitcoin after an initial dip to $74,420 rebounded sharply, surging to a record $112,000 in May and still hovering near $111,150. That's a 49 per cent advance off its April low, far outpacing gold's 12 per cent rise from its April trough of $2,956. ' With the US dollar retreating against major currencies, investors have migrated toward scarce, non-yielding stores of value. Both gold and Bitcoin benefit, but Bitcoin's thinner market depth magnifies price swings on incremental flows. Further, Bitcoin's fixed 21 million-coin supply shields it from the kind of balance-sheet expansion that debases fiat currencies an attribute that resonates as global sovereign debt scales fresh highs. However, the key difference is that central banks continue to diversify into gold, reinforcing its safe-haven pedigree. By contrast, official adoption of Bitcoin remains tentative, suggesting sovereign demand could be a future, rather than current, driver of flows,' Sachdeva said. The post-tariff rally underscores that Bitcoin, despite its higher volatility, is starting to mirror gold's role as a refuge when policy shocks rattle conventional markets. As long as debt overhangs grow and the dollar stays soft, the search for debasement-resistant assets should keep Bitcoin in demand alongside bullion, she added. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Yahoo
16-06-2025
- Business
- Yahoo
GameStop to Pay $4.5 Million Over Alleged Privacy Violations Involving Facebook Data Sharing
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. GameStop Corp. (NYSE:GME) has agreed to pay $4.5 million to its customers following allegations of privacy law violations. The gaming retailer was accused of sharing personal customer information with Facebook without consent. What Happened: GameStop Corp is gearing up to distribute millions to its customers to settle a class action lawsuit. The lawsuit accused the company of violating the federal Video Privacy Protection Act (VPPA) by allegedly sharing sensitive customer data with Facebook. The gaming retailer is specifically accused of implementing a Facebook tracking pixel on its website. This pixel allegedly sent customer's personal information, including details of video game purchases, to Facebook without their knowledge or consent. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — The settlement, which totals $4.5 million, applies to individuals who purchased a game from GameStop's online store between August 18th, 2020, and April 17th, 2025. To qualify for the settlement, customers must have been Facebook members and maintained a public Facebook profile using their real name at the time of purchase. While the exact number of affected customers is not yet known, the settlement suggests that hundreds of thousands of customers may be eligible for compensation. Affected customers are set to receive up to $5 cash or a $10 voucher. Despite agreeing to the settlement, GameStop has not admitted to any wrongdoing. The company has, however, committed to permanently removing the tracking pixel to prevent future unauthorized data It Matters: This settlement highlights the increasing scrutiny on companies to ensure they adhere to privacy laws and respect customer data. As consumers become more aware of their digital rights, companies like GameStop are being held accountable for their data practices. This case serves as a reminder for businesses to review their data sharing practices and ensure they are in line with legal requirements. Read Next: In terms of getting money back, these bank accounts put traditional checking and savings accounts to shame. Maximize saving for your retirement and cut down taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Image: Shutterstock/Jillian Cain Photography This article GameStop to Pay $4.5 Million Over Alleged Privacy Violations Involving Facebook Data Sharing originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
GameStop (GME) Falters After $1.75B Debt Offer
We recently published a list of . GameStop Corp. (NYSE:GME) is one of the worst-performing stocks on Thursday. GameStop fell by 24.55 percent at intraday trading on Thursday at $21.54 apiece following plans to raise $1.75 billion through a debt offering. In a statement, GameStop Corp. (NYSE:GME) said it would offer no-interest convertible notes to qualified institutional buyers through 2032, with the option for the investors to convert them into its shares later on. A gamer playing a game on one of the specialty retail company's gaming platforms. 'Upon conversion, GameStop will pay or deliver, as the case may be, cash, shares of GameStop's Class A common stock, par value $.001 per share, or a combination of cash and shares of Class A common stock, at its election,' it said. GameStop Corp. (NYSE:GME) said it plans to use the proceeds from the offering for general corporate purposes, including potential acquisitions. Last month, GameStop Corp. (NYSE:GME) announced the acquisition of worth $500 million of 4,710 Bitcoins as it looked to other industries to grow its business. The $500 million forms part of the company's $1.3 billion Bitcoin purchase program, an amount it planned to raise from offering convertible senior notes. While we acknowledge the potential of GME as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None.
