The video game specialty retailer missed earnings and revenue, sending the stock price tumbling.
GameStop stock continues to drop as the video game retailer lays off editors and staff across a number of departments.
GameStop share price continues to sink as company struggles to regroup in the face of digital distribution and subscription gaming.
The US retailer has partnered with design firm R/GA to focus on 'unique in-store experiences.' Analysts seem mixed on GameStop's long-term prospects, however.
The specialty retailer was hit hard by declining software and hardware sales, prompting it to suspend dividends.
Collectibles, esports, and building community may be the future for the company.
The company will need to revise its business model if it wants to keep itself out of receivership and bankruptcy.
The retailer has been fairly troubled in recent years, with stock prices cascading over a cliff and executives resigning -- but it has given up on any chance of a sale.
GameStop benefited from the release of Red Dead Redemption 2 and Call of Duty: Black Ops IV, but still delivered mixed results for Q3 2018, leading to more speculation on the future of the retailer.
The drop is the company's worst decline since May 2018.