The largest video game retailer in the world is threatening to leave Canada and France, suggesting that “wokeness” could be one of the ailments signalling a departure.
GameStop’s CEO, Ryan Cohen, posted to X on Tuesday, providing an email that potential buyers could use if they were interested in buying either of the company’s arms.
“High taxes, Liberalism, Socialism, Progressivism, Wokeness, and DEI at no additional cost if you buy today!” said Cohen.
GameStop previously dominated international headlines after flipping Wall Street on its head when a social media craze resulted in the stock increasing exponentially. The phenomenon even inspired a movie, Dumb Money.
The company’s stock previously peaked at $81.25 USD per share in Jan. 2021. The year before, it saw lows beneath $1.00 USD per share. It currently is valued at $26.55 per share.
GameStop’s most recent quarter saw $860.3 million in revenue, an over 20-per-cent annual decrease; however, the company boasted $17.4 million in net income, a nearly 700-per-cent increase from the prior year.
Business insolvencies increased in Canada by 28.6 per cent last year. Overall, insolvencies reached a 15-year high last year after rising 12.1 per cent compared to 2023, driven primarily by small- to medium-sized businesses.
GameStop shareholders previously took a stand against D.E.I. when they rejected a proposal that would make the company disclose its gender, racial, and ethnic makeup of the board.
The Liberals recently announced that the capital gains tax hike has been stalled until next year, with it coming into effect on Jan. 1, 2026.
The tech sector previously penned a letter to the Liberals opposing the capital gains tax hike after claiming that it would do “irreparable harm.”
Tech, healthcare, and other business leaders warned the Liberals that the hike would result in companies leaving Canada for the United States.