There are several benefits to becoming a member of PowerUp Rewards at GameStop. For just $15 per year, you can get a $10 reward on signup and a $5 credit every month. After purchasing at least five games in a single month, you’ll get another $5 in rewards each time you use your membership. PowerUp members also get 2% back in rewards, so that’s a win-win for everyone.
How many GameStop closed in 2021?
The question looming large on everyone’s mind is, “How many GameStops will close in 2021?” The video game retailer has been spiraling into debt for years. Its announcement earlier this year that it was closing over 1,000 stores by March isn’t surprising – the company has already shut down over 783 stores in the past two years. It has been difficult for the gaming retailer to stay afloat and even more devastating for the gaming community.
The company’s stock price has dropped since the announcement, but investors should keep calm. GameStop will close more stores in 2021 than it did this year. It is expected to close between 400 and 450 stores in the U.S. and approximately 1,600 in other countries. The company has a massive network of retail locations, and the latest announcement will make its future even more uncertain. However, the company’s plans for the future of the retail gaming market make its stock price outlook rosy.
What is the GameStop scandal?
Suppose you’ve been following the recent GS scandal on Twitter. In that case, you know there was a runup in shares of the company in January 2021, a runup that wiped out hedge funds. Hedge funds such as Maplelane and Melvin Capital closed their positions after losing over half of their investment. The price collapse has left many investors wondering: “What is the GameStop scandal?”
The GS scandal is a mix of serious and silly factors. Part of the story is a simple retail trade gone wrong, part of it is a cultural interest, and part is a viral trade. It may have started as a joke, but now it’s a powerful story. Here are some of the main facts you should know about the company:
GameStop’s stock has been on a roller coaster since the beginning of the year, but investors have been hit hard this week. The stock hit $400 a share, making it a “meme stock” phenomenon.
However, experts say the stock price is too high compared to the store’s value. Kevin Mullally, an assistant professor of finance at the University of Central Florida, says GameStop’s stock price is now far above its actual value.
Is GS restocking on PS5?
With the launch of the Sony PlayStation 5 just a few weeks ago, there has been a tremendous amount of demand for PS5 games. Many retailers, however, have been forced to sell most of their stock online, making in-store PS5 restocks extremely rare. On April 23, GameStop is hosting a massive PS5 restock in all of its U.S. stores. Those who want to buy PS5 games can join GameStop’s PowerUp Reward Pro membership program, which offers a $10 reward on signup and a $5 credit monthly after that. The membership program will also allow users to earn 2% back on purchases, which is a benefit.
The restock will begin tomorrow and will feature both the PS5 console and the PS5 Digital Edition. PowerUp Rewards Pro members can register online to receive free PS5 games. Still, they will also have to purchase a PS5 console or a PS5 bundle to qualify for the discount. The standard PS5 bundle will cost around $600, while the digital bundle will only cost about $500. The bundle will come with an included $50 GS gift card.
How much is GameStop’s debt?
How much is GameStop’s debt now? In February 2018, GameStop reported total debt of $617 million, which is still relatively high compared to its total debt of $552 million in May 2020. The current debt is the result of term loans made to the company in France and can be extended over time. However, GS was able to wipe out its long-term debt by issuing 3.5 million shares and using the proceeds to repay $330 million of debt.
In January 2021, GameStop’s shares shot up more than 2,500%. WallStreetBets urged retail investors to buy GameStop stock. Shares moved in tight ranges for a couple of weeks. Then, in late January, the GS stocks shocked the Stock Market. Their stock reached a high of $483 on January 28. This represented a nearly 2,500 percent increase.
Is GameStop getting PS5 in-store?
When is GameStop getting PS5 consoles back in stock? If you’re looking to get a PS5 console as soon as possible, it would be best to start your search as early as possible. This restock event is typically held between 9 am and 12 pm local time. While some locations may open later, most open at 10am or 11 am. In New York City, for example, GameStop stores opened at nine a.m., and the store already had more than a few PS5 disc consoles.
While the stores have not yet announced PS5 bundles, you can expect to find bundles that include a PS5 console and two PlayStation games. PS5 bundles will also come with PlayStation Network cards and PlayStation Plus memberships. Currently, the prices for these bundles range from $725 to $750. For less money, you can opt for a digital PS5 bundle, which usually includes a DualSense controller and peripherals.
Can I buy digital games from GameStop for PS5?
You may have wondered if you can purchase digital games for the PlayStation 5 at GS. The answer to this question is yes. The company has been restocking PS5 consoles nationwide. During the restock, participating stores will post paper signs showing the price of the bundles. The bundles are priced accordingly, but you may still find a lower price elsewhere.
While GameStop hasn’t revealed its PS5 bundles, it tends to include at least two games, a DualSense controller, PlayStation Network cards, and/or PlayStation Plus memberships. Depending on the content, these bundles usually cost between $625 and $750. If you’re thinking of purchasing a PS5 digital game bundle, you should note that GameStop’s price is slightly higher. The prices of digital games at GS are usually $625 to $650.
Although GameStop doesn’t show stock digital games for the PS5, the company does have a restock schedule. Typically, it restocks at least once a week at 11am, or 8am PST. Its restock schedule is usually updated weekly, so you can plan your next trip ahead of time. In the meantime, you can always check with GameStop if digital games are available in your area.
Who bought GameStop?
Despite the global semiconductor shortage, most gamers are dependent on the following stores to restock their PS5 consoles. Despite GameStop’s lack of pre-orders, gamers still rely on these stores for restocks. In New York City, for example, one GameStop store had more than a hundred PS5 disc consoles. It is unknown if this reflects a general shortage of PS5 consoles or a specific restock date.
In February, GameStop stores sold eight PlayStation 5 Disc consoles per store. While inventory levels will vary by location, larger GameStop stores were more likely to stock eight consoles.
Although the PlayStation 5 launch is almost a year and a half away, GameStop has been one of the only significant retailers to restock PlayStation 5 consoles. While the restock came with leaks, the PS5 is finally available in stores.
Those who want to avoid paying the total retail price for a PS5 bundle can also sign up for GameStop’s PowerUp Rewards Pro program. This membership costs $15 a year, but benefits include a $5 monthly gift certificate and access to a gaming magazine. If you’re a regular GameStop shopper, this subscription is well worth the small fee. However, suppose you don’t want to sign up for PlayStation Plus. In that case, you can pay $15 and receive a digital magazine version instead.
Do GameStop will have PS5 bundles in all stores.
The PlayStation 5 is finally here, and GameStop plans to stock their stores with PS5 bundles. GameStop will have PS5 bundles in all of their stores starting tomorrow. Still, they’ll only be available to PowerUp Rewards Pro members, which can be joined online. The bundles will cost between $450 and $550 and include Horizon: Forbidden West and a digital copy of the game. The standard PS5 retails for $399, but a bundle will cost between $100 and $300 more.
PS5 bundles are limited, so be sure to buy one at the first opportunity you get. GameStop restocks its stores on Tuesdays at 11am E.T., or 8am PST. GameStop says it’s trying to deter resellers by only selling bundles and keeping the prices high initially. A PS5 bundle with DualSense controllers and PlayStation Plus membership is about $725. Still, GameStop also sells PS5 Digital bundles with additional accessories for $625 to $650.
