Gamestop’s CEO Ryan Cohen said the struggling video game retailer will focus on cutting costs and long-term profitability in an annual shareholder meeting Monday. Cohen said this would involve “a smaller network of stores” — suggesting that store closures could be in sight. But no further details of reductions were immediately provided.
FILE - In this file photo, a GameStop sign is displayed above a store in Urbandale, Iowa, on Jan. 28, 2021. Gamestop’s CEO Ryan Cohen promised to cut costs and focus on long-term profitability for the struggling video game retailer in an annual shareholder meeting Monday, June 17, 2024. CEO Ryan Cohen said the struggling video game retailer will focus on cutting costs and long-term profitability in an annual shareholder meeting Monday.
resulted in many eager investors being unable to log on to the livestream. A spokesperson for Computershare, the company hosting the webcast, pointed to “unprecedented demand.” That only appeared to fuel anticipation in what the Grapevine, Texas-based company’s leadership had to say. Scores of people took to social media over the weekend and early Monday to post about the upcoming meeting, adding to the buzz.GameStop shares plunge even as meme stock booster ‘Roaring Kitty’ says company is on the right trackAll eyes have been on whether Gamestop can make a comeback.
There’s a long way to go. Gamestop managed to narrow its losses in the first quarter, but its revenue fell as sales weakened for hardware and accessories, software and collectibles. Last week, GameStop also filed paperwork with securities regulators to sell up to 75 million shares of stock to raise proceeds of nearly $2.14 billion.
Gaming TX State Wire Corporate Management Business F
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Roaring Kitty' says GameStop to benefit from 'Ryan Cohen and crew'Meme stock retail trader Keith Gill indicated Friday that he still likes GameStop as he live-streamed on his “Roaring Kitty' YouTube channel for the first time in three years.
Read more »
Io.net CEO Ahmad Shadid steps down from CEO role days before token launchThe decentralized infrastructure provider has faced questions from critics in recent months regarding the veracity of its reported metrics.
Read more »
RoaringKitty boosts GameStop share position after exercising options, becomes 4th largest holderRoaringKitty boosts GameStop share position after exercising options, becomes 4th largest holder
Read more »
GameStop raises $2.1 billion as 'meme stock' traders drive up share priceThe video game retailer has recently raised roughly $3 billion in cash, capitalizing on a jump in its stock price.
Read more »
GameStop stock gets slammed by early earnings release, 75 million share saleGameStop (GME) has once again rained on Keith Gill’s parade as executives disclosed a plan to sell as many as 75 million shares of the stock in at-the-market prices After Gill announced on Thursday that he would return to YouTube from whence he single-handedly launched his meme stock revolution in 2021, shares of the videogame retailer shot up...
Read more »
GameStop stock erases all premarket gains after a big Q1 sales miss, share saleGameStop stock erases all premarket gains after a big Q1 sales miss, share sale
Read more »