Shulou(Shulou.com)11/24 Report--

Beijing time on the morning of September 8, it is reported that on Wednesday, local time, the American Game Station Company (GameStop) released its second-quarter results, with a loss smaller than Wall Street analysts expected. The company also announced a partnership with FTX US, the US digital derivatives exchange, to expand opportunities in the cryptocurrency market. These two pieces of good news led to a 11.69% jump in Game Station shares in after-hours trading in the United States.

The main business of the game station is the retail of physical game software stores, and under the above cooperation agreement, the company will sell FTX gift cards in some physical retail stores. The financial details of this cooperation have not been made public.

At the beginning of this year, the game station launched a digital wallet. The company is developing a trading platform for gamers and others, where users can use the digital wallet to buy and sell a variety of NFT (non-homogeneous tokens).

Michael Pachter, an analyst at Wade Bush Securities in the United States, commented that the cooperation between Game Station and FTX Exchange will not bring substantial revenue or profits, but this is good news and positive for the company's business.

Last year, US retail investors launched a "campaign" to force short-sellers on Wall Street. Retail investors gathered on some social media to buy specific stocks. Game stations became the protagonist of this online movement, and share prices rose wildly.

After that, the game station adjusted its management, ready to reverse years of sluggish sales. With the full popularity of e-commerce during the COVID-19 epidemic, game stations are also ready to dig business opportunities for online sales.

Game Post reported its latest results on Wednesday, with an adjusted second-quarter loss of 35 cents a share, below Wall Street analysts' average expectations of a loss of 38 cents a share.

In the second quarter, Game Station fired its chief financial officer, Michael Recupero, and announced a split of one share into four shares, hoping to attract retail investors in the United States to trade its shares.

At present, the macro-industrial environment faced by the game post station is not ideal. Game companies welcomed booming sales during the COVID-19 epidemic, but now they are beginning to encounter weak demand from players, raising doubts about whether the game industry will be able to withstand the future economic downturn.

Shares of PlayStation fell 4.3% to close at $24.04 in intraday trading on Wednesday. With the release of the results and the announcement of the cooperation, the company's share price soared, showing the latest increase of 11.69% as of press time, rising to $26.91.

Pat, an analyst at Wade Bush Securities, said that some investors had worried that Ryan Cohen, chairman of Game Station, might sell his shares, but Cohen did not sell, and Wednesday's sharp rise in the share price also showed that investors were relieved.

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