GameStop's Fate is Sealed: A Long History of Struggling to Adapt

The recent earnings report and CEO termination have once again highlighted GameStop's struggles. However, this is not a new phenomenon. The company has been trying to adapt to the shift towards digital distribution for decades, with various attempts at diversification and innovation. From launching digital distribution stores to acquiring companies like Kongregate and Spawn Labs, GameStop has explored different avenues to stay relevant. Nevertheless, the company's core business remains challenged, and its efforts to pivot have been met with limited success. The arrival of Ryan Cohen, who has been trying to bring about change, has not yet yielded meaningful results. With the company still grappling with the existential threat of digital distribution, its fate seems all but sealed. The question remains whether Cohen's plans can change the course of the company's decline, or if it's too late for GameStop to turn its fortunes around.