GameStop Corporation is facing a challenging start to the week as news of additional store closures emerges. Reports indicate that the company is set to close over 100 locations nationwide this month, with nearly 30 of these closures occurring in New York. Specific locations in Central New York, such as Cortland and Painted Post, are among those affected. This follows a trend from 2024, where more than 200 stores were shuttered, raising concerns about the company's retail footprint and future viability.
On Reddit, discussions are rife with speculation and mixed sentiments. Some users express optimism about potential new revenue streams, such as partnerships with platforms like DRIP for collectibles and live-stream selling. One user noted, "DRIP Collectors sets up shop at a GameStop and they do unbelievably well! Love to see new partnerships around PSA and card/collectibles." However, others remain skeptical about the impact of these initiatives on the company's overall performance, with one user commenting, "I feel like there’s too much hype. Expecting a double bacon nothing burger tbh."
The current price of GameStop's stock is $31.44, reflecting a 2.69% decrease from the previous close of $32.31. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 1,612,323 shares, which is 14.47% of its average daily volume of 11,143,385 shares, indicating a moderate level of trading activity this morning.