It’s a sorry Monday morning for beleaguered retailer GAME today with stock in the company dropping to an all-time low.
Having closed on Friday evening at an already rock-bottom 3.51p per share, GAME’s stock opened Monday morning on a bewilderingly low 1.75p. In the minutes that followed it fell as low as 0.75p.
At the time of writing the stock has hit yet another all-time low – just 0.5p.
Any investors that purchased GAME stock ten years ago will have seen its value decreased by a shocking 98.8 per cent.
GAME’s record share price occurred on May 16th 2008 – the golden years of the console generation. Back then a GAME share would have cost you 296.75p.
Staff may have one ray of hope this morning – there’s a chance that the saga could draw to an end this week.
The ideal scenario? Another company – namely, GameStop – sweeps in and acquires the firm. Second best? GAME enters administration and GameStop buys up something, enough to keep some or maybe even all off its staff’s jobs. The worst case scenario? Simple – the end of GAME and Gamestation altogether.
MCV’s fingers (and toes) remain very much crossed.