The video game industry is leaving GameStop behind ...Middle East

Quartz - Economy
The video game industry is leaving GameStop behind
source : Quartz ( Middle East ) () 28
Video game usage is surging to record highs, enriching game developers and console makers, and boosting sales for e-commerce platforms. Just about the only part of the industry that hasn’t benefited is brick-and-mortar retail chains like GameStop, which still rely on physical sales in a world swiftly transitioning to digital transactions.Until now. GameStop’s stock is skyrocketing to comical levels as part of an ongoing frenzy orchestrated by small-time investors on Reddit and TikTok. As a way to get back at the hedge funds that were profiting off GameStop’s steadily declining business, these investors banded together to buy the company’s stock and increase its value. That created a “short s

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