GameStop, Where is the Business Now?

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As GameStop stock falls, disappointing some and rewarding others, announcements of nation-wide store closures leave customers upset. “GameStop, the largest video game retailer in the world, is headed for some serious trouble. After a year-long downward spiral into debt, the company announced in a Dec. 8 presentation to investors that it will close more than 1,000 stores by the end of March,” say reporters (Click here to access website). With stocks changing rapidly, some investors have started to lose hope and though many people lost time, money, and joy over GameStop stock fluctuations, others have greatly profited. 

GameStop’s shares have dropped $328 to approximately $50 during the last few weeks. GameStop continues to lose money each week, but with traders’ determination, there is a chance that the stock could make a come-back. Before GameStop’s stock recently sunk, traders on Reddit gave the gaming store hope with their collaborative effort, making the stock price soar. With money unpredictably coming and going, smaller sources like Reddit need to help. While GameStop and many investors have lost money, some people have made a fortune off the stock and shares.

Ten-year-old Jaydyn Carr benefited from purchasing Gamestock shares — he was on the news after making a profit of more than $3,000. The New York Times subheading states, “Jaydyn Carr of San Antonio made $3,200 on shares from GameStop this week that his mother bought him in 2019 for about $60” (Click here to access website). Jayden was able to learn and have fun through this experience, and he even spent about $1,000 of his money earned on shares at different companies. Especially amid a raging pandemic, Jaydyn proved that investing in stocks can be exciting and rewarding! Even though trading stocks and shares can seem complicated and involve big investments, Jaydyn’s simple technique only started with a few bucks and ended in thousands. His mother, Nina Carr, said “I grabbed my phone, and I was looking at it, and it said $351. I was shocked: ‘I bought this thing at $6,’ I thought, ‘there’s no way this can be right.’”

Despite Jaydyn Carr’s success during a short-lived spike in GameStop’s stock, a quick reversal in the stock’s price, continues to cause more store closures.