GameStop Needs a Reboot to Ride the Gaming Boom
GameStop (NYSE: GME) expects to do pretty well for itself now that the gaming console upgrade cycle has officially kicked off. Although its stock cratered after the release of its third quarter earnings report, the video game retailer says now is when the rubber hits the pavement.
Now that Microsoft (NASDAQ: MSFT) has released its new Xbox series X and Sony (NYSE: SNE) debuted the new Playstation 5, GameStop anticipates the new consoles are "now segueing into what we see as a period of sustained growth." And with an activist investor pushing GameStop to slim down and lean into the digital gaming revolution, the retail outlet might not be at death's door any longer, no matter the market's reaction to the earnings news.
Image source: Getty Images.
Source Fool.com
