GameStop to Close 470 Stores, CEO Boosts Investor Confidence
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 22 Jan 26
Source: Coinmarketcap
GameStop Corp (GME) shares rose 5.03% as the stock reached a 20-day high.
The company announced plans to close at least 470 stores this month, primarily in major U.S. markets, which raises concerns about its market presence and future revenue. However, CEO Ryan Cohen's recent purchase of 500,000 shares at an average price of $21.12 has bolstered investor confidence, reflecting a belief in the company's potential despite the store closures.
This duality of news presents a complex picture for GameStop, as the store closures may signal challenges ahead, yet the CEO's investment suggests a commitment to the company's recovery and growth.
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About GME
GameStop Corp. offers games and entertainment products through its stores and ecommerce platforms. The Company operates in four geographic segments: United States, Canada, Australia and Europe. Each segment consists primarily of retail operations, with the significant majority focused on games, entertainment products and technology. The Company has a total of approximately 3,203 stores across all of its segments: 2,325 in the United States, 193 in Canada, 374 in Australia, and 311 in Europe. Its stores and ecommerce sites operate primarily under the names GameStop, EB Games and Micromania. Its Australia and Europe segments also include 38 pop culture-themed stores selling collectibles, apparel, gadgets, electronics, toys and other retail products for technology enthusiasts and general consumers in international markets operating under the Zing Pop Culture brand. Its retail stores are generally located in strip centers, shopping malls and pedestrian areas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
