About: http://data.cimple.eu/news-article/879d631cba903272b93e1def2f23319dfd9d93be48e58dab02c02b85

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About: http://data.cimple.eu/news-article/879d631cba903272b93e1def2f23319dfd9d93be48e58dab02c02b85 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Video game company GameStop, a cause celebre for upstart retail investors, reported lower-than-expected earnings Tuesday but showed progress in building e-commerce sales. The company, which currently trades at some ten times its value at the start of the year, reported fourth-quarter profits of $80.5 million, nearly four times the level in the year-ago period. Revenues fell 3.3 percent to $2.1 billion Both the earnings and revenues lagged analyst expectations. Shares of the volatile equity initially rallied after the report, but then tumbled in after-hours trading. The company, which has been building up its e-commerce business as the pandemic has shuttered retail stores, said global e-commerce sales jumped 175 percent compared with the year-ago period. Digital sales now account for more than one-third of net sales, up from a 12 percent share in the year-ago period. GameStop's unlikely rise on Wall Street in 2021 results from a frenzy of buying interest from retail investors who exchanged advice and opinions on a popular forum at the Reddit website and came to the company's defense when it was targeted by "short sellers" betting on a fall in value. Analysts widely view the company's jump in valuation this year as unmoored from the company's performance. Still, some investors are hopeful about the company's prospects given several major staffing shifts, as well as new board members committed to revamping the strategy. Investors are keen to see the influence of activist investor Ryan Cohen, a co-founder of online pet products shop Chewy who joined the board earlier this year. Shares fell 4.4 percent to $173.85 in after-hours trading. jmb/bgs
schema:headline	GameStop shares gyrate as it reports mixed earnings
schema:mentions	Private equity Chewy (company) E-commerce GameStop Reddit Video game Pandemic Ryan Cohen Gyration Activist shareholder Extended-hours trading
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-23 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	64 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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