Is the tip nearing for GameStop?
The online game retailer closed tons of of shops proper earlier than the brand new 12 months. Now, it appears much more GameStop shops might be closing as 2025 will get in full swing.
With the transfer to digital downloads and a few online game consoles leaving bodily media behind altogether, the writing has been on the wall for GameStop for numerous years. Nonetheless, in 2021, the meme inventory craze, led by investor Keith Gill also referred to as “Roaring Kitty,” gave new life to the corporate.
However, it would not appear as if GameStop has been capable of flip issues round, not less than on the subject of its retail shops.
GameStop retailer closings
Since 2020, GameStop has closed greater than 700 shops. In December 2024, proper earlier than the brand new 12 months, the corporate shuttered almost 300 retail areas.
Whereas there was no official announcement on the newest batch of closings, the primary of 2025, native media retailers are beginning to report on their native GameStop shops all of a sudden shuttering. For instance, Michigan native information outlet MLive has simply reported that the GameStop location within the Westwood Mall in Jackson, MI is closing down on Jan. 4.
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However, the information about these new 12 months retailer closings first broke over on Reddit. The GameStop subreddit has crammed up with posts over the previous 24 hours from workers that simply discovered that their retailer might be shuttering and that they’re out of a job.
“Simply received knowledgeable my retailer is closing, simply as many others have,” posted person Public_Direction9896. “Godspeed to you all. Pleasant neighborhood GameStop worker, signing out.”
“Been with the corporate for nearly 8 years. Obtained the decision this afternoon. I am devastated,” wrote Razenkaji on r/GameStop.
Mashable has contacted GameStop to touch upon the reported closures and can replace this story ought to they reply.
Roaring Kitty finds a brand new gaming meme inventory?
Not like GameStop’s employees, Gill, aka Roaring Kitty, would not have to fret about discovering new employment. Whereas the corporate shutters shops, Roaring Kitty’s GameStop inventory holdings are nonetheless going sturdy.
Roaring Kitty’s final replace on Reddit in June of final 12 months confirmed that he was nonetheless holding 9 million GameStop shares, which is the same as roughly $280 million based mostly on what the inventory is at the moment buying and selling at.
Gill has additionally allegedly dropped hints that he was taking a look at one other online game firm’s inventory. On New 12 months’s Day, Roaring Kitty posted a GIF of comic Dave Chappelle dressed as Rick James from a 2004 episode of Chappelle’s Present.
The submit went viral, receiving tens of 1000’s of retweets and likes. Roaring Kitty’s followers rapidly put issues collectively and imagine the GIF was a reference to James’ music “Unity” which in flip was referencing the online game firm Unity Software program. Unity’s inventory rapidly shot up by 8 p.c and continues to be buying and selling at above the place it was earlier than Roaring Kitty’s submit.
