At the beginning of last year, we reported to you about a case involving a retail chain of video game stores. game stop. This event caused a significant resonance even in the classical media. The company was struggling with huge financial problems, and not only the fans of this store, but, perhaps, the entire Internet decided to turn the tide.
A group of people on Reddit on the WallStreetBets thread conspired to raise the stock, and they did. At the end of 2020, the company’s shares were trading at $3-4 per share, but on 01/29/2021 the price rose to whopping 80 dollars. Reddit users laughed at real Wall Street traders.
Behind it all is a popular practice “short circuit”, which allows you to lend shares to clients for trading and work out even on falling securities (we talk about this in more detail in our video). If, despite estimates, the price goes up, the situation is reversed. The big financial houses had to pay for the unprecedented rise in share prices.
The saddest thing about the whole situation was that this interference did nothing to help the GameStop store financially. Funds were not poured into the company as such, and only those who got rid of their shares early at the time of peak demand got rich. However, media frenzy can still help businesses. The company’s shares have stabilized at around $25 a share.
GameStop took advantage of the interest and managed their business a bit. reorient. In recent days, employees have been complaining that the assortment is changing under their hands. Many general stores are familiar with similar problems. Revenues from the sale of physical media with games are falling in favor of digital distribution, so they have no choice but to refocus on the accompanying assortment. Many of them prefer to sell collector’s editions and merchandise. GameStop started selling toys and gadgets.
Only by toys this time we mean not action figures of video game characters with enlarged heads, but real toys. Inflatable Dinosaur Costumes from the website we still count the best parts of the inventory. However, according to Reddit, the staff also list things like a lemon alarm clock kit, a baby walker, a giant kinder egg, or a baby scooter. The article on Kotaku also talks about the assortment, such as diapers, a clip to hold the nugget sauce, or a beer coaster for the shower.
As they say, modern problems require modern solutions. Keep your fingers crossed that we only continue to write about video games, otherwise we will soon have to list horoscopes.
Source :Indian TV
