Looking to retailer GameStop (GME) for a coup in literally anything might seem like a forlorn hope. But this is the Christmas season, when miracles are known to happen. GameStop landed a Christmas miracle itself this season as it managed to pull a former Best Buy (BBY) spokesperson away from the electronics retailer. The news was welcome enough for investors, who sent GameStop shares jumping nearly 4% in Monday morning’s trading.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Rilie Huntley, a TikTok influencer who was previously spotted in a Best Buy polo as part of its advertising, jumped ship to appear in an ad for GameStop. While Huntley was previously seen offering information about new laptops, she pivoted to talking about GameStop’s trade-in policies while wearing a black polo shirt instead. The ads even used a similar style of music to the Best Buy ads, reports noted.
GameStop of course took the opportunity to crow about its win, posting on social media, “We stole your girl @BestBuy.” Those not familiar with the animus between Best Buy and GameStop may want to know that the two have been competitors in the physical retail space for gaming for years. Indeed, when Fallout: New Vegas came out back in 2010, you could get different Day One packs depending on where you purchased the game. The bitcoin-buy-a-mistake">GameStop version offered a Weathered 10mm Pistol in game, while Best Buy offered a Sturdy Caravan Shotgun, among other things.
Trade In Anything Day Goes Farther Than You’d Think
GameStop recently pulled off an unexpected marketing coup as well with its “Trade Anything Day.” Some have previously mocked GameStop’s trade-in policies as cash grabs that got downright desperate over the years, but this took the ball and ran with it, not only passing the goal line, but leaving the stadium entirely.
In case you needed proof of this, GameStop offered a list of what shoppers brought in in order to get at least some credit on store purchases. Included on the list were taxidermied animals, a speed limit sign, a pair of Air Jordans, and copies of the TV series Friends on VHS. This is not the first time GameStop has turned to unconventional marketing tactics, although it might be the most audacious such instance yet.
Is GameStop a Buy, Sell or Hold?
Turning to Wall Street, no analysts currently hold a position on GME stock. After a 27.89% loss in its share price over the past year, a look at the last five days of trading in GME stock shows substantial volatility. However, an abnormally large drop hit last week that took GameStop off what would have been a fairly flat track.
