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GameStop

American video game retailer
GameStop

GameStop, founded in 1984 as Babbage's, is headquartered in Texas. It operates over 4,400 stores globally. The company faced challenges in the 2010s but gained attention in 2021 for stock price volatility. GameStop is now a Fortune 500 company and owns Game Informer magazine. It also ventured into e-commerce and NFT platform.

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Timeline

1984
Babbage's established
Baggage's, now GameStop, was established in 1984 and is a retail company specializing in video games and consumer electronics, known for its presence in the gaming industry.
1993
EB Games International Expansion Begins in Canada
EB Games started its international expansion by opening three stores in Toronto, Ontario, Canada in 1993. The Canadian division grew to over 300 stores by May 2008, becoming the largest of the international divisions.
2003
GameStop Corp Total Sales Increase
In 2003, GameStop Corporation experienced a significant increase in total sales during the fourth quarter of the year.
2004
GameStop established as a separate company
Following the sale of its shares by Barnes & Noble, GameStop was officially formed as an independent company. This strategic decision aimed to streamline operations and enhance transparency for investors in the retail sector.
2005-05-23
EB Games Acquisition of Jump in Spain
EB Games announced the acquisition of Jump, a retailer in Valencia, Spain, to introduce video game hardware and software into Jump's stores. This move marked EB Games's entry into the Spanish marketplace.
2005-10-06
EB Games and GameStop $1.44 Billion Takeover Deal
Shareholders from EB Games and GameStop agreed to a $1.44 billion takeover deal, offering $38.15 in cash and approximately ¾ of a share of GameStop stock for every 1 share of EB Games stock. The deal included closing multiple facilities and eliminating over 800 jobs.
2011
Launch of GameStop Tablet
In 2011, GameStop introduced its own gaming tablet, the GameStop Tablet, to cater to the gaming community.
2017-11-06
J. Paul Raines Resigns from GameStop
J. Paul Raines resigned from his position at GameStop in November 2017 after being on medical leave due to a brain tumor recurrence.
2018-01-31
J. Paul Raines Passes Away
J. Paul Raines, former CEO of GameStop, passed away on January 31, 2018.
2018-02-02
GameStop's record-breaking net loss
For the 52-week period ending on February 2, 2019, GameStop reported a record-breaking net loss of $673 million, a significant decline from the previous year's net profit. The company also eliminated its dividend, reflecting the financial challenges it was facing.
2018-02-06
Michael K. Mauler Becomes CEO of GameStop
Michael K. Mauler was announced as the CEO of GameStop on February 6, 2018.
2018-05-11
Michael K. Mauler Resigns as CEO of GameStop
Michael K. Mauler resigned from his position as CEO of GameStop on May 11, 2018, citing personal reasons.
2018-05-31
Shane Kim Becomes Interim CEO of GameStop
Shane Kim was appointed as the interim CEO of GameStop on May 31, 2018.
2019-09-30
GameStop identified as target for bankruptcy
GameStop was identified as the next target company to be purposely bankrupted by financial entities, leading to massive bets worth billions and even trillions of dollars being placed on its bankruptcy.
2020-03-12
Shareholders Urge Appointment of Stockholder Representative at GameStop
In March 2020, shareholders, including Hestia Capital Partners LP and Permit Capital Enterprise Fund LP, sent a letter to GameStop's board requesting the appointment of a stockholder representative as a director.
2020-03-20
GameStop Controversy During COVID-19 Pandemic
GameStop faced criticism for prioritizing business over the safety of staff and customers during the COVID-19 pandemic. The company was accused of capitalizing on increased video game purchases while neglecting safety measures.
2020-03-22
GameStop Closure Due to COVID-19
GameStop decided to close all its locations in response to state-wide stay-at-home orders due to the COVID-19 pandemic. Some locations continued to offer contact-free curbside pickup and home delivery.
2021-01-28
Gamestop stock price surge and trading suspension
Gamestop stock price experiences a significant increase, leading to its suspension from trading by brokers. This action raises questions about the supposed 'free' stock market principles based on supply and demand, sparking global investor interest and concerns.
2021-01-29
Interactive Brokers CEO's statement on GameStop stock
CEO of Interactive Brokers suggests that if GameStop stock had not been halted, its price could have reached 'infinity'. This statement adds to the intrigue surrounding the GameStop stock saga.
2021-02-01
Reddit User Questions GameStop Hype
A Reddit user questions the obsession with GameStop stock, wondering why it matters if it's considered a bad buy and who investors would sell to if it's a bad stock. This sparks a wave of articles and media coverage urging people to 'Forget GameStop'.
2021-02-02
Mark Cuban's Prediction on GameStop
Billionaire Mark Cuban shares his thoughts on the GameStop situation, particularly focusing on the companies betting on GameStop's failure and the potential outcomes.
2021-02-18
IBKR Chairman Warns of Systematic Collapse
The Chairman of major stock trading platform IBKR highlights the risk of a 'FULL SYSTEMATIC COLLAPSE' if GameStop was not restricted from trading in the stock market, referring to the events of January 28, 2021.
2021-07-23
Creation of Superstonk Library of DD
The Superstonk Library of DD is established, containing extensive research on Gamestop and other related topics contributed by investors worldwide. The library is securely stored and backed up multiple times, including on blockchain.
2021-07-28
EB Games Canadian Operations Rebranded as GameStop
EB Games announced the rebranding of its Canadian operations under the GameStop name, with the conversion of stores to GameStop signage expected to be completed by the end of 2021.
2021-10-26
Dave Lauer's statement on GameStop impact on the US economy
Dave Lauer expressed concerns about the fragility of a system that can be disrupted by GameStop, suggesting it should not be the foundation of the US economy.
2022-05-18
Melvin Capital Collapse
Melvin Capital, a hedge fund, loses billions of dollars and collapses due to its failed bets against GameStop, leading to a significant financial crisis.
2022-05-31
SEC Mocks Retail Investors
The Securities and Exchange Commission releases a video mocking retail investors for investing in GameStop, causing controversy and raising concerns about fair market practices.
2022-06-01
Investor Remixes SEC Video
An individual investor creates a remix video in response to the SEC's mocking video, showcasing the determination and resilience of GameStop investors despite attempts to discourage them.
2023-06-08
Proof of Financial Groups' Default Risk
Evidence emerges that some major financial groups would have faced default if GameStop had not been restricted in January 2021.
2023-06-09
Media Concerns Over GameStop Impact on Investors
An open letter to chairman Ryan Cohen expresses worries about GameStop causing significant losses for average investors.
2023-06-13
Ryan Cohen's Significant Purchase of GameStop Shares
Chairman Ryan Cohen buys an additional 443,842 shares of GameStop, amounting to around $10 million, increasing his total ownership to nearly 37 million shares worth almost $1 billion.
2023-06-28
Forbes Article Criticizing GameStop
Forbes publishes a critical article about GameStop, focusing on Wes Christian's efforts against 'naked shorting' stock market manipulation. Wes Christian responds to the article the next day.
2023-07-10
Allegations of Financial Groups Manipulating GameStop Stock
Certain financial groups are accused of attempting to bankrupt GameStop by borrowing and selling billions of GameStop shares without actually purchasing them. There are speculations that these shares will need to be bought back at some point, although there seems to be no immediate deadline for this.
2023-09-08
Ryan Cohen's Involvement with GameStop
After significant investments in GameStop and media reports suggesting failure, Ryan Cohen was elected as CEO of GameStop. Speculations arose that negative articles were aimed at discouraging new investors from entering the market.
2023-09-11
Larry Cheng's GameStop Share Purchase
Despite negative media coverage, GameStop board member Larry Cheng purchased 6000 shares, indicating confidence in the company's future. This move contradicted the prevailing negative sentiment in the media.
2023-09-27
Financial Services Committee meeting discussion on GameStop
During a meeting that was supposed to focus on new rule proposals for a fairer market, GameStop was brought up despite having no relevance to the agenda. Media articles have been questioning the reason behind arguing against the proposed rules and mentioning GameStop.
2023-09-28
Ryan Cohen elected as CEO of GameStop
Ryan Cohen, known for his success with Chewy.com, is elected as the CEO of GameStop. He will not receive any compensation for his role, sparking discussions and questions about the future of GameStop.
2023-10-04
Ryan Cohen Appointed as GameStop CEO
New articles advise against buying GameStop after Ryan Cohen becomes the new CEO, leading to a significant drop in the stock price.
2023-10-05
Congress Not Fully Informed on GameStop Stock Freeze
In a 2021 Congress hearing related to GameStop, it is discovered that Congress was not fully informed about the extent of brokers freezing GameStop stock, raising suspicions of SEC misleading.
2023-11-05
Algorithm Manipulation in GameStop Trading
Individual investors allegedly use a computer trading algorithm to predict GameStop stock price movements, raising concerns about market manipulation.
2023-11-17
Jim Chanos closes his hedge fund
Hedge Fund Manager Jim Chanos decides to close his hedge fund after 38 years in the industry. This decision comes after his controversial remarks about GameStop investors being 'greedy and entitled'.
End of the Timeline
GameStop

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