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.
LINK: https://news.gamestop.com/news-releases/news-release-details/gamestop-reports-2020-holiday-sales-results
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.
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