The last few years have been especially tough for Gamestop, and it is only getting harder.
Gamestop’s stock dropped to the lowest it has ever been since 2003 today in another financial blow to the gaming retailer. The drop comes after missing all expectations for 2019’s first quarter.
Gamestop’s historic drop is also the biggest one-day loss in the company’s history since 2002. Analysts believe that this is the worst possible sign that Gamestop is dying.
As the industry has shifted its focus to buying games online, Gamestop’s value has dropped dramatically. Without any new consoles to get customers to go to Gamestop, there are not many reasons to actually walk into a Gamestop anymore. Even then, it is possible to buy gaming consoles on sites like Amazon. Simply put, there are fewer reasons for consumers to leave their homes.
Gamestop has shown its steady decline for the last few years, but this recent stock crash might show that Gamestop is on its deathbed.