GameStop CEO: Focus on profitability and avoid extreme stock price fluctuations due to "hype"

On June 18th, according to Bloomberg News, GameStop CEO Ryan Cohen stated at the annual shareholder meeting on Monday that he is focused on making this troubled video game retailer profitable and plans to avoid extreme stock price fluctuations caused by "speculation". Cohen emphasized that revenue without profits and future cash flow prospects is meaningless to shareholders, and plans to reduce the store network while expanding the types of high-value products.

Although Cohen has been committed to transforming GameStop from a physical store to a digital store in recent years and has tried to enter the NFT field, analysts are pessimistic about its prospects. GameStop's software revenue in the first quarter decreased by 30% year-on-year, and the store's product structure has also changed, leaning more towards toy sales than the latest games. As a result, GameStop has closed multiple stores and distribution centers and laid off employees.