The embattled brick-and-mortar gaming store chain has consistently made headlines over the past several months, largely due to the volatile GameStop Reddit stock market fiasco. The situation involved day traders on the subreddit r/wallstreetbets, where Redditors bought and held a vast amount of shares, driving the price up. This caused big-name investors and hedge funds’ shorted stocks to expire, amounting to huge financial losses as a result of the process.
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Beyond implementing a new price-matching policy, GameStop continues to change its business model in other ways. Last month, it was revealed during an investor call with CEO George Sherman that GameStop is looking to expand its range of products, which will include things like PC gaming hardware products. Items such as motherboards, power supplies, monitors, GPUs, and other products found within that niche. The company has already begun offering many PC components on its website, with plans to expand its digital offerings in the future.
GameStop improving its policies and product selection is a sensible move for the company. This is largely because of the (formerly) premier PC part brick-and-mortar chain Fry’s Electronics abruptly closing down nationwide. The 36-year-old tech retail chain posted a brief statement on its website, citing the pandemic and changing retail landscape as the reason behind closing all 31 of its locations. The situation could provide GameStop with a sort of power vacuum that could help give the struggling chain a much-needed second wind.
The reported new GameStop price matching should come as wonderful news to gamers, with many fans feeling the policy is overdue. While the dust around the business’s rollercoaster of a stock ride continues to fully settle, it’s still being discovered what those who cashed in are spending their money on. Some of the Reddit winners have decided to adopt gorillas, although the money just supports their conservation, rather than literally adopting a primate as a pet.
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