David Bridges
Is the end nearing for GameStop? The renowned video game retailer has taken a significant hit, closing hundreds of its stores right before the new year. As we move further into 2025, it appears that even more GameStop locations will be shuttered, raising concerns about the company’s future.
The shift towards digital downloads and the trend of video game consoles abandoning physical media have been detrimental to GameStop for several years. However, a glimmer of hope appeared in 2021 when the meme stock phenomenon, spearheaded by investor Keith Gill, famously known as “Roaring Kitty,” breathed new life into the company. Despite this resurgence, GameStop seems unable to revitalize its retail stores effectively.
Understanding the Impact of GameStop Store Closures
Since 2020, GameStop has closed over 700 stores, and the trend shows no signs of stopping. In December 2024, just before the new year, the company shut down nearly 300 retail locations, raising alarm bells among investors and employees alike.
While there has yet to be an official announcement regarding the latest wave of closures, local media outlets have begun reporting on the sudden shutdowns of their local GameStop stores. For instance, MLive, a Michigan local news outlet, reported that the GameStop location in Westwood Mall, Jackson, MI, is set to close on January 4. This situation highlights the ongoing struggles the retailer faces within the evolving market.
Mashable Light Speed
The news about these recent store closures initially surfaced on Reddit. The GameStop subreddit has become a hub for employees sharing their experiences, with many revealing they were just informed of their store’s impending closure. One user, Public_Direction9896, posted, “Just got informed my store is closing, just as many others have. Godspeed to you all. Friendly neighborhood GameStop employee, signing out.” Another long-time employee, Razenkaji, expressed devastation after being with the company for nearly eight years, stating, “Got the call this afternoon. I’m devastated.” Mashable has reached out to GameStop for comments on these reported closures and will provide updates if a response is received.
What’s Next for Roaring Kitty and the Future of Gaming Stocks?
Unlike many GameStop employees facing unemployment, Keith Gill, better known as Roaring Kitty, remains in a stable position. While GameStop continues to shut down stores, Roaring Kitty’s stock holdings in GameStop are still performing well, illustrating a stark contrast in fortunes.
In his last update on Reddit in June of the previous year, Roaring Kitty revealed he was still holding 9 million shares of GameStop, valued at approximately $280 million based on current trading prices. This significant stake highlights the impact and influence that meme stocks can have on investors.
Moreover, Roaring Kitty has hinted at exploring investments in another video game company’s stock. On New Year’s Day, he shared a GIF featuring comedian Dave Chappelle portraying Rick James from a classic episode of Chappelle’s Show. The post quickly gained traction, racking up tens of thousands of retweets and likes.
His followers connected the dots, believing the GIF referenced James’ song “Unity,” which many interpreted as a nod to Unity Software. Following this speculation, Unity’s stock surged by 8 percent and remains above its pre-GIF trading levels, showcasing the powerful influence of social media on stock performance.
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