GameStop in Serious Financial Turmoil

Arrow to the left signifies 19.88% Drop.

Arrow to the left signifies 19.88% Drop.

GameStop’s stock (GME) dropped yesterday a total of 19.88% –a number not to be scoffed at considering the company was worth 5 billion dollars and is currently worth 4.21 billion– when it announced that sales of new software fell by 23%.

Some of this news may not come as a surprise to many gamers considering the many new platforms that have risen that allow us to buy games like Steam and GOG, not to mention GamesStop hasn’t developed the best reputation among the crowd it relies on either.

The future may not hold so well for them either with big companies like Valve making it’s big move with the Steam Machine that will focus on their steam sale platform, and Sony (SNE) with Playstation now, an online rental game service immediately accessible from your living room.

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