Just wondering if Cellnet followers have noticed the craziness in EBGames parent company Gamestop (GME.NYSE). The company ytd sales are down 30% but a massive short squeeze has run it up from $40 to $160.. This was a $3 stock in April 2020. Mkt cap now $10 billion on expected revenues of $5bill.. and losing over $400mm/year.. In their recent update (jan 11) they said the following:
Regional Sales, in Australia/New Zealand, where the Company’s operations were materially less impacted by the effects of the COVID-19 pandemic, total comparable sales for the nine-week period increased approximately 31%, outperforming the Company’s other operating regions.
Anyway, the fact that one of Cellnet's customers 9 week holiday sales were up 31% from previous the previous year is the important news... although I guess we could argue not a major surprise.. I am patiently waiting for our half year update in Feb..good luck all.
CLT Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
