GameStop stock price outlook: 93% downside on weak earnings, BofA says - Business Insider

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GameStop stock price outlook: 93% downside on weak earnings, BofA says - Business Insider
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BofA warns GameStop stock could plunge 93% as weak earnings and skeptical turnaround plan will weigh on the business

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"We see a higher mix to online as a negative for earnings. Very simply, the more business that shifts from in-store transactions, the more difficult it will be to sell high margin pre-owned and collectibles merchandise which accounted for 46% of gross profit dollars in 2019," BofA explained. "We think fundamentals will again factor into valuation and note that at current price of $148 and GameStop's five year enterprise value of 3.7x it implies EBITDA of $2.6 billion vs $ million in 2020," BofA explained.

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Come on β€” at least poorf read the bullet points.

Any news on whether thr GameStop owners encashed on this exponential rise

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It's the latest sign of how social media can upend everyday life. Just like it did on Jan 6 at the Capitol.

- written by Melvin Capital

And they are closing some mall locations.

BOFA DEEZ NUTS

i am left with literally no choice but to tag MattBrownEP in this tweet

Should have never shorted past 100% lol

This article was not written by Melvin capital I promise trust me bro

AMC & GAMESTOP πŸ™ŒπŸΎπŸ˜

Why the company is not issuing shares, and with the cash create a new business model ?

a shit load of first time day traders reading Reddit threads are gonna experience a painful lesson quickly

Pump n dump. Fairytale stock. It's own financials don't support it. Simply go into one..assuming there's still one open locally.

Paper hands

wow

$gme

Melvin Capital can have some BofA

The stock has rallied 100x in like 2 days. I think you can chill on any sort of TA. But nice try

GameStop can’t blame it on COVID and lockdowns like every other company? This company has a chance to grow and restructure its balance sheet to pay its employees or hire. The numbers are just a small percentage of what a company can actually do.

No they said the same thing about $TSLA years ago. This is them trying to help melvincapital crooked bankers, power to the people long live $GME

Bofa what? BarstoolBigCat

πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚

You can’t pump money into something that has no innovation πŸ˜‚

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