How GameStop chairman Ryan Cohen abandoned the company's e-commerce push to refocus on its ~4.4K stores, leading to GameStop's first profit in two years
Videogame retailer, the original meme stock, hits brakes on e-commerce push to refocus on its 4,400 bricks-and-mortar locations LinkedIn: Dana Mattioli and Victor Elmann Tweets: @gunjanjs , @ritholtz , and @gavinclimie LinkedIn: Dana Mattioli : Ryan Cohen took over GameStop as chairman with plans to turn it into an ecommerce juggernaut. The plan to open up warehouses … Victor Elmann : GameStop Puts the Brakes on eCommerce to Refocus on Brick-and-Mortar. — GameStop has decided to hit the brakes on its eCommerce push to refocus on its 4,400 brick-and-mortar locations. … Tweets: Gunjan Banerji / @gunjanjs : GME is up 377% since the start of 2021, around the meme mania, compared with ~7% gain for the S&P 500 https://www.wsj.com/... Barry Ritholtz / @ritholtz : Blockbuster II ? https://www.wsj.com/... @gavinclimie : Went from losing $100Million+ just 2 years ago to: 1) $1.23B in the bank 2) $840M+ in stock 3) $320M+ free cash flow 4) EPS 0.16 (+220.00%) exp (-0.13) 5) Revenue up to $2.23B on exp $2.18B up 2.12% 6) Being profitable But yeah @WSJ we hate that 🙄🤷♂️ https://www.wsj.com/...