Is the party over?

2021-04-12

Is the party over?

GameStop plunged more than 10%, GameStop Skeptic Warns That Reddit Rally Will Fade

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Comments

Fanshuu
2021-04-13
Fanshuu
Have the party really started?
- Fanshuu:
  Looks like the next party is here...
- Oldin:
  hopefully some had fun when the party was still on.

Leave a comment

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He warned clients in a note about the long-term prospects for the company as the market for new gaming systems matures after new launches from Microsoft Corp. and Sony Group Corp.</p>\n<p>The video-game retailer’s 741% surge this year through Friday’s close pushed its market value to $11 billion, however, Woo expects shares will tumble in the long run “to match its current weak results and outlook.” He trimmed his price target to $10 from $12, implying as much as a 94% drop from Friday’s close at $158.36.</p>\n<p>Shares of the Grapevine, Texas-based company reversed initial gains to slump as much as 11% at 9:58 a.m. in New York. The stock has shed a quarter of its value in the past six session after a company plan to sell as much as $1 billion in additional shares.</p>\n<p>Ascendiant called out the rise in popularity of GameStop on Reddit chat boards and with Robinhood investors for making shares trade on “retail investors sentiment, hope, momentum, and the powers of crowds” in place of fundamental metrics. Woo did acknowledge the mania can drive shares much higher in the near-term, making short-term price forecasts “nearly impossible.”</p>\n<p>The stock now has five sell-equivalent ratings, compared to two hold ratings and zero buys, data compiled by Bloomberg show. An average price target of $46.50 implies shares will lose more than two-thirds of their value in the coming year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188840982","content_text":"(April 12) GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares Slump.\nGameStop Corp.’s Reddit-fueled trading surge is likely going to fade as threats from digital game downloads sink in, according to one skeptical Wall Street analyst.\nThe stock slumped after Ascendiant Capital Markets analyst Edward Woo downgraded the retailer to sell from hold, saying increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share. 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