What happened
Shares of GameStop (GME 2.04%) were up 6% in midday trading on a shortened holiday trading day Friday.
So what
Black Friday is here, new Microsoft (MSFT 2.51%) Xbox and Sony (SNE 0.57%) PlayStation game consoles are on sale, and the video-game retailer inked a deal with Vizio to sell TV sets. What's not to like?
Image source: Getty Images.
Now what
The upgrade cycle for video game consoles is what GameStop investors have been waiting for to help lift the retailer out of the doldrums. Consumers were holding off on buying equipment until the new consoles launched -- at least until the pandemic hit, and then they were looking to get their hands on any equipment and entertainment during lockdowns.
But now with much of the economy reopened, the excitement of the new consoles and games that will come with it is palpable, and the "official" unofficial launch to the Christmas shopping season is here in earnest.
GameStop shares have nearly quadrupled in value over the last six months and are up over 500% from their March lows, when the retailer was all but left for dead. There's a renewed vigor surrounding the video game stock, though there are still valid questions about how long it will last.
In the meantime, investors seem willing to make hay while the sun shines.
