Why GameStop Stock Popped 13% Thursday
Shares of video-games retailer GameStop (NYSE: GME) scored big last week when a partnership announced with Microsoft (NASDAQ: MSFT) sent the shares flying 44% in a single day of frenzied trading. Investor enthusiasm soon waned, however, as critics began chiming in, complaining that "the substance in the press release was hollow" and that it appeared Microsoft was "taking advantage of GameStop's desperation, forcing them to share in subscription sales as their core market evaporates," reported TheFly.com last week. Citing a conversation this investment company had with GameStop management directly, Domo tweeted -- apparently on Tuesday, but the news is just filtering out today -- that GameStop's agreement with Microsoft will in fact see the software giant share revenue with the video-games retailer "on all ... digital downloads and digital content ... from any device that GameStop brings into the @Xbox ecosystem."
