gaming
Tencent, China’s largest game developer by revenue, announced that it is removing its popular mobile game “Dungeon & Fighter” (DnF Mobile) from certain Android app stores starting Thursday. This decision comes as the company’s contracts with these app stores have expired, highlighting ongoing tensions between game developers and distributors over revenue sharing in the burgeoning mobile game market. Revenue sharing disputes in the gaming industry The removal of DnF Mobile underscores a persistent issue in China’s gaming industry: the contentious relationship between game developers and app sto...
Invezz
GameStop Corp. announced on Friday that it expects a substantial decline in sales for the first quarter of fiscal 2024. The company projects revenue to fall by approximately 28%, from $1.2 billion in the same quarter last year to a range of $872 million to $892 million. GME reduced net loss forecastDespite the anticipated drop in sales, GameStop’s preliminary report indicates an improvement in net loss. The company estimates a net loss between $27 million and $37 million for the quarter, compared to a net loss of $50.5 million in the same period last year. This projected reduction suggests tha...
Invezz
Shares of GameStop Corp. (NYSE:GME) and AMC Entertainment Holdings Inc. (NYSE:AMC) experienced significant declines during Thursday’s premarket hours, shedding as much as 15%. This downturn comes after a brief rally at the start of the week, which has now lost momentum. Impact of Keith Gill’s returnThe initial surge in GameStop and AMC stocks was triggered by the return of trader Keith Gill, known as “Roaring Kitty” on social media. Gill’s reappearance reignited interest and buying activity among retail investors, leading to a rapid increase in share prices over two days. However, the exciteme...
Invezz
GameStop shares experienced a whirlwind of activity in early Monday trading, resulting in the stock being halted three times due to significant volatility. The shares, which spiked to $31.70 each—an 81.6% increase—saw these pauses as traders and algorithms reacted to a sudden surge in interest and trading volume. This level marks the highest for GameStop since last July, reigniting memories of the meme stock mania that captured market attention in 2021. The return of a meme stock iconThe frenzy was kicked off by Keith Gill, better known by his online moniker Roaring Kitty, who was instrumental...
Invezz
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