GameStop surges after a report says it could be taken private (GME)

GameStop stock price

Markets Insider

• Shares of GameStop surged more than 10% Monday following a Reuters report that suggested the private equity firm Sycamore Partners is interested in taking the video-game chain private.

• The wire service reported that GameStop had hired a financial advisor to assist in discussions with private equity firms including Sycamore. 

• Headquartered in New York, other Sycamore retail investments include Hot Topic, Belk, and Talbots. The firm has some $3.5 billion in capital under management, according to its website.

• GameStop has struggled to keep its footing in an increasingly digital video-game industry that's being dominated by players like Steam and platform-specific online stores that allow consumers to forego the traditional method of purchasing a physical game disc.

• Shares of GameStop have declined more than 60% in the past five years. 

• Follow GameStop stock in real-time here.

NOW WATCH: Learning to celebrate failure at a young age led to this billionaire's success

See Also:

• 32 of the most dangerous things science has strongly linked to cancer

• Why Phil Mickelson was not disqualified from the US Open and why other pros are not happy about it

• Wall Street experts are crying foul on an overlooked yet dangerous signal that a market meltdown is near

SEE ALSO: A guy allegedly robbed a GameStop with a plastic water bottle case over his head — and the cops think it's hilarious