The word on the (stockmarket) street is that Wal-Mart is currently out to run GameStop out of business. The new trade-in program they are initiating will take a big bite out of GameStop’s major business play. Already, GameStop’s shares are approximately 6% down in trading.
Wal-Mart announced the official start of the program will be March 26, and every PlayStation, Xbox, or any other pre-owned video game trade-in will be exchanged for gift cards which can be used at any Wal-Mart or Sam’s Club purchase (online or in stores). It is currently only said to be participating in stores across the U.S., but will be become available to Canadians soon.
Wal-Mart just celebrated their 20 years in Canada. The first one opened March 17, 1994.
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