27.10.2020 00:33:00

Why GameStop Shares Plummeted by Over 10% on Monday

Even on a sharply downbeat day for the stock market, GameStop (NYSE: GME) was a real flop. The video game retailer's shares cratered by 10.3% on Monday. Investors, it seems, aren't taking kindly to the company's newly announced financing services.GameStop just unveiled its FlexPay suite of hardware and game rental services. These comprise three offerings: buy now, pay later; no-fee layaway, and rent to own. GameStop is partnering with a trio of specialist companies to offer these options: up-and-coming fintechs QuadPay and Klarna for the first two, and lender Progressive Leasing for the third.Continue reading
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