Why GameStop Is Falling Today
Shares of GameStop (NYSE: GME) are tumbling 8.2% at 12:50 p.m. Thursday afternoon on no news specific to the video game retailer, though the stock has fallen almost 14% since it announced a plan to split its shares a week ago.
GameStop is attempting to navigate the video game industry's transition to a greater online and digital format that lessens the relevance of a physical retailer in the space. Chairman Ryan Cohen has espoused a belief the retailer should sell much of its brick-and-mortar presence and become the foremost e-commerce presence for the industry, in effect becoming the "Amazon of gaming."
Image source: Getty Images.
Source Fool.com
