GameStop shares fall 33% on lack of transformation detail, possible share sale

cnbc2021-03-25

KEY POINTS GameStop missed on the top and bottom lines of its quarterly results, but e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period. The ...

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Comments

不是那么好割的小韭菜
2021-03-25
不是那么好割的小韭菜
GameStop won’t stop
Kimsu
2021-03-25
Kimsu
[難過]
- w8w8:
  Steamed
AhTar
2021-03-25
AhTar
I wonder $100-120 is it good buy? Any opinions?
Ray140101
2021-03-25
Ray140101
??
- Ray140101:
  Buy!
ackk
2021-03-25
ackk
To the moon
WeiKeong
2021-03-25
WeiKeong
Shock!
- Jojofi:
  Again up and doen

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Moreover, while everyone was expecting big news about some massive digital transformation in the mold of the new tech-oriented board members, nothing was said.”\n“In fact, the company did not even take questions on the earnings conference call,” added Feldman. “As for the much anticipated strategic plan, it sounded like every other retailer.”\nFor the fiscal period ended January 2021, GameStop earned $1.34 per share on revenue of $2.12 billion. Wall Street was expecting earnings per share of $1.35 on revenue of $2.21 billion, according to Refinitiv’s average of the six analysts.\nGameStop’s fiscal fourth-quarter earnings typically make up the majority of the company’s yearly earnings, boosted by holiday sales. The company’s same-store sales rose 6.5% last quarter.\nThe company said it is continuing to suspend guidance, but is updating its fulfillment operations to boost the speed of its delivery and services. GameStop CEO George Sherman also revealed that February comparable store sales increased 23%, thanks to strength in hardware sales worldwide.\nAlong with the mania-fueled trading, GameStop’s stock has responded positively on new developments for the company in the past five months like the appointment ofChewyco-founder Ryan Cohen to GameStop’s board and a focus on GameStop’s technology and e-commerce transition.\nGameStop said after the bell that it continues to seek out executive talent with e-commerce, retail and technology expertise to bolster its turnaround. Sherman said on the conference call that GameStop was “focused on transforming into a customer-obsessed technology company that excites gamers.”\nEarlier this month, GameStopannounced it tapped Cohen to lead its shift to e-commerce. He is serving as chairman of a special committee formed by GameStop’s board to help its transformation. Board members Alan Attal, Chewy’s former top operations executive, and Kurt Wolf, chief investment officer of Hestia Capital Management, also serve on the committee.\n\nEarlier this year, an epic short squeeze in the company’s stock shocked Wall Street and drew attention to an emerging class of retail investor on social media platforms like Reddit. GameStop’s share price skyrocketed to $483 per share, and subsequently lost 90% of its value. The controversy drew the attention of Wall Street and Washington.\nGameStop still has a market capitalization of nearly $13 billion through Tuesday’s close, 10 times the $1.3 billion market value the stock had at the end of last year. A year ago, GameStop’s market capitalization was $245 million.\nNaming Owens as COO is the latest in a series of recent personnel moves, but it remains to be seen whether these moves and the sparse detail given Tuesday night will satisfy investors that have bid up the stock to such high levels.\nTelsey’s Feldman lowered his price target on the shares to $30 from $33 following the results. The new target would represent a decline of more than 80% from Tuesday’s close.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":358060017,"gmtCreate":1616641128740,"gmtModify":1704796799032,"author":{"id":"3558920222538997","authorId":"3558920222538997","name":"不是那么好割的小韭菜","avatar":"https://static.tigerbbs.com/904e087829710bbff7692246e238149c","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3558920222538997","authorIdStr":"3558920222538997"},"htmlText":"GameStop won’t stop&nbsp;","listText":"GameStop won’t stop&nbsp;","text":"GameStop won’t stop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358060017","repostId":1132657904,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":358033173,"gmtCreate":1616638773992,"gmtModify":1704796760697,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576547785025400","authorIdStr":"3576547785025400"},"htmlText":"[難過]&nbsp;","listText":"[難過]&nbsp;","text":"[難過]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358033173","repostId":1132657904,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5216266,"gmtCreate":1626253367292,"gmtModify":1663230955546,"authorId":3575859183800572,"author":{"id":3575859183800572,"idStr":"3575859183800572","authorId":3575859183800572,"name":"w8w8","avatar":"https://static.tigerbbs.com/1a305fe39d1c227693a64cc331afda1a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358033173,"type":1,"supId":0,"prevId":0,"content":"<u>Steamed</u>","text":"<u>Steamed</u>","html":"<u>Steamed</u>"}],"langContent":"CN"},{"id":358090945,"gmtCreate":1616637786387,"gmtModify":1704796743529,"author":{"id":"3576918982024110","authorId":"3576918982024110","name":"AhTar","avatar":"https://static.tigerbbs.com/c0756c0db9447e1412fd5d5ac8e38ad8","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576918982024110","authorIdStr":"3576918982024110"},"htmlText":"I wonder&nbsp;$100-120 is it good buy? Any opinions?","listText":"I wonder&nbsp;$100-120 is it good buy? Any opinions?","text":"I wonder $100-120 is it good buy? Any opinions?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358090945","repostId":1132657904,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":351772914,"gmtCreate":1616636949938,"gmtModify":1704796725027,"author":{"id":"3557023880373146","authorId":"3557023880373146","name":"Ray140101","avatar":"https://static.tigerbbs.com/90476a625d11f5011e26f9ab5b9a45be","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3557023880373146","authorIdStr":"3557023880373146"},"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/351772914","repostId":1132657904,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3876956,"gmtCreate":1616636967481,"gmtModify":1680781637330,"authorId":3557023880373146,"author":{"id":3557023880373146,"idStr":"3557023880373146","authorId":3557023880373146,"name":"Ray140101","avatar":"https://static.tigerbbs.com/90476a625d11f5011e26f9ab5b9a45be","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":351772914,"type":1,"supId":0,"prevId":0,"content":"Buy!","text":"Buy!","html":"Buy!"}],"langContent":"EN"},{"id":351755135,"gmtCreate":1616635760327,"gmtModify":1704796699953,"author":{"id":"3570010307518897","authorId":"3570010307518897","name":"ackk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3570010307518897","authorIdStr":"3570010307518897"},"htmlText":"To the moon","listText":"To the moon","text":"To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351755135","repostId":1132657904,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":351729551,"gmtCreate":1616634886973,"gmtModify":1704796679957,"author":{"id":"3574809268346931","authorId":"3574809268346931","name":"WeiKeong","avatar":"https://static.tigerbbs.com/5495c1f2e5e2d6067ea4add6d0b105c5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574809268346931","authorIdStr":"3574809268346931"},"htmlText":"Shock!","listText":"Shock!","text":"Shock!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/351729551","repostId":1132657904,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3876594,"gmtCreate":1616634928602,"gmtModify":1680781627202,"authorId":3574911895867822,"author":{"id":3574911895867822,"idStr":"3574911895867822","authorId":3574911895867822,"name":"Jojofi","avatar":"https://static.tigerbbs.com/b38ecb7f10f831fb2c5dfa4b6984a1cb","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-1","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Boss Tiger","description":"The transaction amount of the securities account reaches $100,000","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"60.46%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":351729551,"type":1,"supId":0,"prevId":0,"content":"Again up and doen","text":"Again up and doen","html":"Again up and doen"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":42,"commentSize":25,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1132657904"}