In what ways is GameStop diversifying its business to offset declines in video game sales?
The Numbers Don't Lie: GameStop Earnings Preview
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GameStop has defied expectations of decline by leveraging the Pokémon Go craze, which boosted sales in stores designated as POKEY stops. Despite a drop in new video game sales, GameStop is diversifying through its Technology Brands unit, becoming AT&T's largest authorized retailer. The company anticipates a decline in same-store sales, and skepticism remains as GameStop was the most shorted stock in the S&P 500. However, upcoming console releases and interest in virtual reality present potential growth opportunities.
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What is the significance of GameStop being one of the most shorted stocks in the S&P 500?
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