Economy not a Problem for Gamestop

While American consumers find themselves wondering what will happen after the current housing crisis, or when gas prices will drop, they sure aren't wondering about how to entertain themselves. According to this article posted on CNN, while the economy seems to be in a slump, video game retailer Gamestop is seeing growth like never before.

The company says the growth can be attributed to consoles like the Wii, reaching out to more than just the hardcore market by offering simplicity to the casual market, and upcoming blockbuster releases like Grand Theft Auto IV, which could net the company $100 million....in the first week. Other big titles in the pipeline this year, including a new Metal Gear Solid game for the Playstation 3, and another World of Warcraft Expansion, bode well for sales in the coming months. In turn, bidders on Wall Street have been buying up shares left and right, pulling the company's shares to $55 a pop...they expect the shares to jump to $70 in the next year.