Thursday, February 20, 2020

Entertainment in 2020 (part 4)


What is being left behind to become a thing of the past? We all watched as Blockbuster Video wimpered into obsolescence, but what is next? Gamestop, sadly, is very likely to be on its way out, because after the next (and last?) console release, what would you buy at Gamestop? I remember when people were saying Gamestop was doomed back in 2013, that digital gaming was going to destroy Gamestop just like online movies had destroyed Blockbuster, but it was too soon—there was still life left in the retailer, because the PS4 and Xbox 360 were coming. I'm not much of a day trader, and I wish I'd put a lot more money in than I did, but I bought some of their stock when it was hovering around $23 a share, and after the console release, the stock shot up to $54. I sold it all, suspecting it wouldn't last, and only a few months after the console boom, the stock prices started falling, after a peak around $56. Today, it's selling for $4 a share. This is very sad, because I love visiting Gamestop, talking with the employees about games, and physically browsing through their video game inventory. However, some things--like the newspaper--just can't compete with the convenience of digital offerings.

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