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GameStop Stock Gains 6% on Retro Gaming Push and Debt Reduction

In an interesting twist this week, GameStop announced the opening or restyling of several "retro" locations that sell old consoles and hardware, as well as software discs. The retailer's retro website includes games for NES, SNES, Game Boy, Game Boy Advance, N64, DS, GameCube, Wii, Wii U, PS1, PS2, PS3, PS Vita, Xbox, Xbox 360, Sega Dreamcast, Sega Saturn, and Sega Genesis.On the financial front, GameStop disclosed on Wednesday that the company voluntarily terminated its credit facility, includi

GameStop Stock Gains 6% on Retro Gaming Push and Debt Reduction

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The retailer's retro website includes games for NES, SNES, Game Boy, Game Boy Advance, N64, DS, GameCube, Wii, Wii U, PS1, PS2, PS3, PS Vita, Xbox, Xbox 360, Sega Dreamcast, Sega Saturn, and Sega Genesis.On the financial front, GameStop disclosed on Wednesday that the company voluntarily terminated its credit facility, includi","content":"<html><head></head><body><p style=\"text-align: left;\">In an interesting twist this week, GameStop announced the opening or restyling of several &#34;retro&#34; locations that sell old consoles and hardware, as well as software discs. 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The retailer&#39;s retro website includes games for NES, SNES, Game Boy, Game Boy Advance, N64, DS, GameCube, Wii, Wii U, PS1, PS2, PS3, PS Vita, Xbox, Xbox 360, Sega Dreamcast, Sega Saturn, and Sega Genesis.</p><p style=\"text-align: left;\">On the financial front, GameStop disclosed on Wednesday that the company voluntarily terminated its credit facility, including all commitments and obligations under the credit agreement. The termination was effective as of August 27. As a result, the company&#39;s principal sources of liquidity will be cash from operations and cash on hand.</p><p style=\"text-align: left;\">The development is not a total surprise, with GameStop estimated to have as much $4 billion in cash following the sale of stock in June. With its Q1 earnings report, GameStop reported long-term debt of just $14.3 million, which was tied to a low-interest, unsecured term loan associated with the French government&#39;s response to COVID-19.</p><p style=\"text-align: left;\">GameStop is scheduled to report Q2 earnings on September 10 after the market closes.</p><p style=\"text-align: left;\">Shares of GameStop were up 6% in morning trading Thursday.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/ca27e24e9f79c6c0a7ad78085c067613\" tg-width=\"876\" tg-height=\"628\"/></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122130100","content_text":"In an interesting twist this week, GameStop announced the opening or restyling of several \"retro\" locations that sell old consoles and hardware, as well as software discs. 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