Is GameStop's Big Growth Investment Good News for Shareholders?

GameStop (NYSE: GME) is best known for its inclusion in the 2021 meme stock frenzy whipped up by Reddit investors. Shares of the once stagnant gaming retailer skyrocketed due to the online community WallStreetBets collectively committing to buy and hold the stock in order to sabotage short sellers' positions.

GameStop's stock represents an underlying business, and that business is deteriorating. Over the years, the company neglected the rapid shift to digital game sales and its brick-and-mortar business suffered. Is it good news that management is finally investing in strategic growth initiatives?

Image source: Getty Images.

Continue reading

Source Fool.com