GameStop Shares Power Up as Game Sales Soar in May

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GameStop Shares Power Up as Game Sales Soar in May

GameStop Shares Power Up as Game Sales Soar in May
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GameStop Shares Power Up as Game Sales Soar in May

by TheStreet 0:54 mins

Shares of GameStop powered up on Tuesday making it TheStreet's Move of the Day. The video game retailer got a boost from investors after marketing research company NPD group reported late Monday that sales of new game hardware, software and accessories jumped 52% in May from the same time a year ago. NPD group said monthly revenue totaled $586 million dollars driven by hardware sales on consoles led by Microsoft's Xbox One, Sony's PlayStation 4 and Nintendo's Wii U. Top selling titles included action-adventure game "Watch Dogs," Nintendo's "Mario Kart 8" and Sony's "MLB 14: The Show." Shares gained 6.8 percent to $40.29, making it on Tuesday the second-best performer in the S&P 500.

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