What GameStop's Filings Showed Before January 2021

GameStop closed the January 2021 quarter at a $21.13 billion market cap. Nine months earlier it was worth $369.6 million. The story that stuck is that none of it had anything to do with fundamentals, that it was a pure squeeze on a dying retailer with a broken income statement. Half of that is true. The other half doesn't survive the filings. The bear case holds up on the income statement: Revenue fell from $8,607.9M in fiscal 2017 to $5,089.8M in fiscal 2021, down 40.9% in four years Operating