Cash on Hand as of July 2023 : $1.19 B According to GameStop ‘s latest financial reports the company has $1.19 B in cash and cash equivalents. A company’s cash on hand also refered as cash/cash equivalents (CCE) and Short-term investments, is the amount of accessible money a business has.
Why does GameStop have so much cash?
Much of this increase was due to the hype surrounding its stock between late 2020 and early 2021, when retail investors triggered the so-called “meme frenzy.” Thanks to the significant appreciation of its shares, GameStop carried out an equity offering that allowed it to raise about $1.13 billion.
Does GameStop still make money?
GameStop was able to stave off bankruptcy thanks to r/WallStreetBets’ support—and this March, the company turned its first quarterly profit since 2021.
How much was GameStop at its highest?
GameStop’s Highest Stock Price Was $483
This came after Elon Musk caused a surge in GameStop’s price to over $200 per share on January 26 by tweeting a link to the WallStreetBets Reddit that only said “Gamestonk!!” The influx of attention helped catapult the stock to close at $347.51 per share on January 27.
What is the cash to debt ratio of GameStop?
Financial Strength
GameStop has a cash-to-debt ratio of 1.88, which ranks better than 75.11% of 1101 companies in the Retail – Cyclical industry.
What Will Powell’s Words Mean for Bonds? (11/9/23)
How much of GameStop is owned by retail investors?
GameStop’s ownership structure is primarily comprised of retail investors, accounting for nearly 60% of the company’s outstanding shares.
What is a good cash debt?
In general, a cash debt coverage ratio of over 1.5 is considered a good coverage ratio result. This means that the company’s available operational cash is 1.5 times greater than its total liabilities. Therefore, the company can easily cover its debt obligations by using its current operational cash.
Who owns the most GameStop?
Cohen’s firm RC Ventures has a 12.09% stake in GameStop, FactSet data shows, making him the largest insider shareholder. Cohen joined the board as director in early 2021 and rose to chairman in June after a restructuring.
When did GameStop hit $500?
At its height, on January 28, the short squeeze caused the retailer’s stock price to reach a pre-market value of over US$500 per share ($125 split-adjusted), nearly 30 times the $17.25 valuation at the beginning of the month.
How much was GameStop shorted?
Because of market skepticism toward GameStop’s fundamentals and valuation, the stock has continued to be a big target for short sellers. Today, it is one of the biggest shorts in play. There are approximately $1.23 billion worth of GameStop shares held short; that’s equivalent to about 57.3 million GameStop shares.
Why is GameStop closing down?
The company reported an after-tax loss of over €6m in 2022, with net liabilities of over €40m. The report also noted that GameStop would “consider closing any stores that are not performing to expectations or where the cost base, particularly occupancy costs, are out of line with the business levels in the location.”
How rich is GameStop?
GameStop has a market cap or net worth of $4.23 billion as of November 3, 2023. Its market cap has decreased by -46.39% in one year.
Why is GameStop declining?
GameStop’s recent stock decline is attributed to a combination of factors, including fears of a U.S. recession, rising interest rates, and a high level of short interest.
Does GameStop have debt?
GameStop has a total shareholder equity of $1.3B and total debt of $34.6M, which brings its debt-to-equity ratio to 2.7%. Its total assets and total liabilities are $2.8B and $1.5B respectively.
Is GameStop using too much debt?
Debt levels:
Adding on other loan obligations the company’s total debt is about $651 million. That means GameStop has a debt-to-equity ratio of 0.5, implying that it has less debt than its equity. Thus, GameStop has low financial risks and great financial flexibility in its capital allocation decisions.
Could GameStop happen again?
Whether the exact events that happened during the GameStop phenomenon could ever be replicated is highly unlikely, most experts say. “The short answer is no.
Who lost money on GameStop?
After seeing Melvin Capital lose billions from shorting GameStop, many hedge funds now monitor financial discussions on Reddit and other social media platforms to see what’s bubbling.
Is pump and dump illegal?
Pump-and-dump is an illegal scheme to boost a stock’s or security’s price based on false, misleading, or greatly exaggerated statements. Pump-and-dump schemes usually target micro- and small-cap stocks. People found guilty of running pump-and-dump schemes are subject to heavy fines.
Who is the CEO of GameStop?
GameStop Announces Election of Ryan Cohen as Chief Executive Officer. GRAPEVINE, Texas, Sept. 28, 2023 (GLOBE NEWSWIRE) — GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today disclosed that its Board of Directors has elected Ryan Cohen as President and Chief Executive Officer, effective immediately.
Who bought into GameStop?
June 13 (Reuters) – Ryan Cohen has bought GameStop (GME. N) stock worth $10 million, a securities filing showed on Tuesday, in a sign that the activist investor was trying to boost shareholder morale after the company lost its fifth CEO in five years last week.
How big is GameStop?
Market cap: $4.23 Billion
As of November 2023 GameStop has a market cap of $4.23 Billion. This makes GameStop the world’s 2710th most valuable company by market cap according to our data.
Is $20,000 a lot of debt?
$20,000 is a lot of credit card debt and it sounds like you’re having trouble making progress,” says Rossman.
Is $30,000 in debt a lot?
The average amount is almost $30K. Some have more, while others have less, but it’s a sobering number. There are actions you can take if you’re a Millennial and you’re carrying this much debt.
Is $15000 debt a lot?
It’s not at all uncommon for households to be swimming in more that twice as much credit card debt. But just because a $15,000 balance isn’t rare doesn’t mean it’s a good thing. Credit card debt is seriously expensive. Most credit cards charge between 15% and 29% interest, so paying down that debt should be a priority.
Who founded GameStop?
GameStop traces its roots to Babbage’s, a Dallas, Texas-based software retailer founded in 1984 by former Harvard Business School classmates James McCurry and Gary M. Kusin.