GameStop Corp.: Initiation of Coverage – Does This Meme Stock Still Have Any Steam? 

This is our first report on popular meme stock, GameStop Corporation. GameStop’s transformation over the past two years is evident in its financial results and strategic shifts. In 2021, it faced bulky debt, a diminishing cash balance and strained vendor relationships. The company also lacked substantial stockholders in its boardroom, casting doubt over its future. However, the company undertook significant changes such as refreshing the board, rebuilding the management, recapitalizing the balance sheet, paying down debt, establishing profitable partnerships, and fortifying the infrastructure. These actions have translated into a stronger, more efficient business that is better prepared to navigate the challenging retail sector.