Reggie Fils-Aimé, former President and COO of Nintendo of America, has been appointed to GameStop’s Board of Directors. Will it save the company?
So, that is not a question I thought I was going to ask but here we are. Is GameStop stock really worth buying in 2020?
Last month, because I’m that kind of dork, I was reading how many analysts were thinking there was a good chance GameStop’s junk stock could shoot up through the roof very quickly. They were thinking it could even quadruple by the end of this month because of the hype the that four different types of new stores GameStop has tested in their Tulsa stores have generated.
Now, I just found out that as of today, GameStop, through a press release on their own website, have just announced three new people for their board of directors. Two people I can’t remember the name of long enough to go from that tab to here but the third? The third is Reggie Fils-Aimé. Yes. That Reggie. The Regginator. The “My Body is Ready” guy. The man who helped Nintendo of America become a straight up power house.
Now, I’m not James Cramer and this isn’t Mad Money. I have no clue about the stock market normally, but what I do know is that recently GameStop stock had been declared “junk stock”. It’s now, at the time of writing, sitting at 3.70 a share.
It was already estimated to jump huge this month before the announcement of Reggie. These are two massive, powerful steps that are going to bring in a lot of investor interest — especially from potential partners that want ties to Reggie by brand association alone. Of course, turning around the perception surrounding GameStop won’t be easy and Reggie certainly has his work cut out for him.
Again, I’m not a financial expert but… well dang. Get on it son.
Editor’s Note: App Trigger is not a financial advice website. Like many others, we have no clue what the stock market will do or how it will react to this news. The opinion expressed in this article is just that, one person’s opinion.