Is the end nearing for GameStop?
The video game retailer closed hundreds of stores right before the new year. Now, it seems even more GameStop stores will be closing as 2025 gets in full swing.
With the move to digital downloads and some video game consoles leaving physical media behind altogether, the writing has been on the wall for GameStop for a number of years. However, in 2021, the meme stock craze, led by investor Keith Gill also known as "Roaring Kitty," gave new life to the company.
But, it doesn't appear like GameStop has been able to turn things around, at least when it comes to its retail stores.
GameStop store closings
Since 2020, GameStop has closed more than 700 stores. In December 2024, right before the new year, the company shuttered nearly 300 retail locations.
While there has been no official announcement on the latest batch of closings, the first of 2025, local media outlets are starting to report on their local GameStop stores suddenly shuttering. For example, Michigan local news outlet MLive has just reported that the GameStop location in the Westwood Mall in Jackson, MI is closing down on Jan. 4.
But, the news about these new year store closings first broke over on Reddit. The GameStop subreddit has filled up with posts over the past 24 hours from employees that just found out that their store will be shuttering and that they are out of a job.
"Just got informed my store is closing, just as many others have," posted user Public_Direction9896. "Godspeed to you all. Friendly neighborhood GameStop employee, signing out."
"Been with the company for almost 8 years. Got the call this afternoon. I'm devastated," wrote Razenkaji on r/GameStop.
Mashable has contacted GameStop to comment on the reported closures and will update this story should they respond.
Roaring Kitty finds a new gaming meme stock?
Unlike GameStop's workers, Gill, aka Roaring Kitty, doesn't have to worry about finding new employment. While the company shutters stores, Roaring Kitty's GameStop stock holdings are still going strong.
Roaring Kitty's last update on Reddit in June of last year showed that he was still holding 9 million GameStop shares, which is equal to roughly $280 million based on what the stock is currently trading at.
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Gill has also allegedly dropped hints that he was looking at another video game company's stock. On New Year's Day, Roaring Kitty posted a GIF of comedian Dave Chappelle dressed as Rick James from a 2004 episode of Chappelle's Show.
The post went viral, receiving tens of thousands of retweets and likes. Roaring Kitty's followers quickly put things together and believe the GIF was a reference to James' song "Unity" which in turn was referencing the video game company Unity Software. Unity's stock quickly shot up by 8 percent and is still trading at above where it was before Roaring Kitty's post.
Topics Memes Reddit Video Games
