|Bid||15.00 x 800|
|Ask||15.10 x 900|
|Day's range||14.55 - 15.38|
|52-week range||2.57 - 15.87|
|Beta (5Y monthly)||1.12|
|PE ratio (TTM)||N/A|
|Earnings date||08 Dec 2020 - 14 Dec 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||14 Mar 2019|
|1y target est||6.96|
GameStop shot 11% higher. A hedge fund took a sizable stake in the struggling video game retailer, and it was confirmed that the deal signed earlier this month with Microsoft (NASDAQ: MSFT) includes royalties from digital Xbox downloads.
The deal GameStop (NYSE: GME) negotiated with Microsoft (NASDAQ: MSFT) last week is apparently better than many people thought. While shares of the video game retailer got a big boost from the original announcement, which focused heavily on GameStop using the software giant's back-end solutions to better meet customer needs in the digital gaming era, largely unnoticed was a sentence saying both companies will "benefit from the customer acquisition and lifetime revenue value of each gamer brought into the Xbox ecosystem." According to website Ars Technica, the private equity firm spoke with GameStop directly, which confirmed the retailer "will receive a portion of the downstream revenue from any device we will bring into the Xbox ecosystem."
Shares of video-games retailer GameStop (NYSE: GME) scored big last week when a partnership announced with Microsoft (NASDAQ: MSFT) sent the shares flying 44% in a single day of frenzied trading. Investor enthusiasm soon waned, however, as critics began chiming in, complaining that "the substance in the press release was hollow" and that it appeared Microsoft was "taking advantage of GameStop's desperation, forcing them to share in subscription sales as their core market evaporates," reported TheFly.com last week. Citing a conversation this investment company had with GameStop management directly, Domo tweeted -- apparently on Tuesday, but the news is just filtering out today -- that GameStop's agreement with Microsoft will in fact see the software giant share revenue with the video-games retailer "on all ... digital downloads and digital content ... from any device that GameStop brings into the @Xbox ecosystem."