For a long time, it was believed that video game retailer GameStop Corp. (NYSE:GME) was on its last legs and it was only a matter of time before it went out of business.
However, the situation changed dramatically earlier on this year when a Reddit fuelled short squeeze sent its shares soaring and helped the company in raising as much as $551 million in the form of fresh capital by selling only 3.5 million units.
The fresh injection of capital helped the company in clearing its long-term debt and gave it the platform for long-term growth. More importantly, it is also necessary to point out that in 2020, GameStop had managed to grow its e-commerce business by as much as 191% and that is something that the company is likely to look into in its future growth plans.
On the other hand, the GME stock is pretty cheap at the moment and trades at only 2.26 times its revenues.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.