GameStop Chairman and CEO Ryan Cohen discusses the company’s future on ‘Making Money.’
Meme stock GameStop, once a dominant brick-and-mortar video game retailer, continues to close more stores in 2026.
The retailer, whose business model has been threatened by digital adoption in the gaming industry, closed 590 stores nationwide in fiscal 2024 and said it plans to close a “significant number of additional stores” in fiscal 2025, which ends in January 2026.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP. | 21.42 | +0.13 |
+0.61% |
The company did not disclose how many stores it would close in fiscal 2025 or where they would be located. However, in recent days, several people on
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The company warned in early 2025 that it expected to close a “significant number” of additional stores and revised its investment policy, paving the way for the video game retailer to invest in Bitcoin.
A Gamestop store is seen in Union Square on April 4, 2025 in New York City. (Michael M. Santiago/Getty Images) / Getty Images)
“The overall objectives of the investment policy are to provide sufficient liquidity to meet the company’s day-to-day financial obligations and to optimize investment returns within the guidelines of the investment policy,” GameStop said at the time.
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The company has faced financial problems since the 2010s as digital game downloads became increasingly popular and competition from online retailers such as Amazon and big-box chains increased. The majority of GameStop stores were also located in malls, where foot traffic was down.
A GameStop store in New York, US, on Monday, March 4, 2024. (Shelby Knowles/Bloomberg via Getty Images/Getty Images)
In its December earnings report, the company said revenue continued to decline, down $39.3 million year over year.
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It became a fading relic of the mall era before quickly becoming one of the most famous meme stocks in market history in 2021.
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In early January, the company awarded CEO Ryan Cohen a performance-based stock option to fuel growth. To make a profit, the company’s market capitalization would have to reach $100 billion. Currently it stands at $9 billion.
GameStop Chairman Ryan Cohen. (FBN)
In January, retail investors, many of whom were organized on Reddit’s r/WallStreetBets, began aggressively buying the shares, which have lost more than 34% in the past 12 months.
