Sep 26, 2023, 3:59 PM EDT
The short squeeze of video game retailer GameStop shares back in 2021 has come back into the spotlight, serving as a central element to a new movie’s plot.
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Police in Southern California are looking for what they believe are three suspects who have robbed more than a dozen GameStop stores. The thieves run out with expensive gaming consoles.
GameStop on Thursday announced that it had fired its chief financial officer and laid off numerous staff as part of an effort to reshape the company.
GameStop, which has surged more than 30%, has been halted for volatility at least four times since the market open. Meanwhile, AMC Entertainment has jumped more than 20% during the session.
GameStop has announced plans to seek stockholder approval at its upcoming annual meeting to increase the total number of authorized shares from 300 million to 1 billion in order to implement a stock split in the form of a dividend.
A year ago in January, the U.S. stock market got a jolt and an in-your-face introduction to a fresh crop of meme stocks as the retail trading community and Reddit traders waged war against short-sellers and hedge funds.
GameStop Corp. is launching a division to develop a marketplace for nonfungible tokens and establish cryptocurrency partnerships, according to people familiar with its plans, pushing the company into much-hyped areas as it tries to turn around its core videogame business.