Video game retailer GameStop takes a hit
NEW YORK (FOX 5 NY) - The days of waiting in line to purchase video games may be numbered. The retail chain GameStop's stock price took a huge tumble on Wednesday when its shares fell about 30% before the opening bell.
"The stock hit a 16-year low and that's because earnings came out and they really disappointed, their sales have fallen over 10%," Fox Business Network correspondent Kristina Partsinevelos said.
The popularity of buying video games online is to blame. For a lot of people, nothing beats the convenience. For others, nothing is better than browsing in-store.
"I like to come here, preorder the game, come for the midnight release," loyal GameStop customer Andrew Barros said. "And it's always good just to build a community with the people you're getting your games from."
For GameStop to keep its head above water, some business experts suggest the company collaborate with online digital platforms and try to keep providing new content in stores.