{"id":155215,"date":"2021-01-14T18:51:33","date_gmt":"2021-01-14T15:51:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gamestop-shares-soar-on-holiday-sales-new-board-members\/"},"modified":"2021-01-14T18:51:33","modified_gmt":"2021-01-14T15:51:33","slug":"gamestop-shares-soar-on-holiday-sales-new-board-members","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gamestop-shares-soar-on-holiday-sales-new-board-members\/","title":{"rendered":"#GameStop shares soar on holiday sales, new board members"},"content":{"rendered":"

“#Game<\/a>Stop shares soar on holiday sales, new board members<\/strong>”
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GameStop\u2019s stock is on a multi-day winning streak.<\/p>\n

After surging 58 percent to close at $31.45 on Wednesday, shares of the video-game retailer are up by more than 8 percent in early trading on Thursday after the company reported strong holiday sales and added three activist investors to its board.<\/p>\n

Changes have been coming fast at the Grapevine, Texas-based company, which had shaken up the board earlier last year after the company reported one of the worst holiday seasons in a decade, with sales declining by 25 percent.<\/p>\n

Since then, Chewy.com founder Ryan Cohen took a 9-percent stake in GameStop in August buoying investors\u2019 confidence in the 37-year-old retail chain.\u00a0<\/p>\n

This week, Cohen\u2019s investment firm RC Ventures struck an agreement with GameStop to add three new members \u2014 Cohen and two other former Chewy.com executives \u2014 to the 10-member board.<\/p>\n

The new directors bring \u201cdeep expertise in e-commerce, online marketing, finance and strategic planning to GameStop,\u201d the company said in a statement.<\/p>\n

\u201cPeople took the board changes seriously,\u201d said Wedbush analyst Michael Pachter, and they \u201care giving Ryan Cohen a lot of credit for the potential to expand GameStop\u2019s market via ecommerce.\u201d<\/p>\n

But the stars have already been aligning for the company with the debut of three new gaming consoles from Nintendo, Microsoft and Sony this holiday season, which contributed to a 4.8 percent increase in comparable store sales in November and December and \u201cunprecedented demand,\u201d the company said.<\/p>\n

This demand is expected to \u201cdrive sales well into 2021\u201d the company added.<\/p>\n

The company\u2019s ability to capitalize on the consoles is only enhanced by the expertise of the new directors, Jefferies analyst Stephanie Wissink wrote in a research note. <\/p>\n

\u201cThe timing allows [GameStop] to make big, bold moves under the cover of a robust next-gen console cycle launch,\u201d Wissink wrote, \u201cwhere demand continues to outstrip<\/a> supply and will likely do so through 2021.\u201d\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#GameStop shares soar on holiday sales, new board members” GameStop\u2019s stock is on a multi-day winning streak. After surging 58 percent to close at $31.45 on Wednesday, shares of the video-game retailer are up by more than 8 percent in early trading on Thursday after the company reported strong holiday sales and added three activist…<\/p>\n","protected":false},"author":1,"featured_media":155216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/01\/gamestop-stock-surge.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[89450,70237,72128,10751,72528,70481,5015,9966],"class_list":["post-155215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-14-21","tag-corporate-earnings","tag-gamestop","tag-gaming","tag-nintendo-switch","tag-playstation","tag-retailers","tag-xbox"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/155215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=155215"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/155215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/155216"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=155215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=155215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=155215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}