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

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

BofA warns GameStop stock could plunge 93% as weak earnings and skeptical turnaround plan will weigh on the business

GOLDMAN SACHS: These 22 stocks still haven't recovered to pre-pandemic levels - and are set to explode amid higher earnings in 2021 as the economy recovers

"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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Come on — at least poorf read the bullet points.

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

hblodget Fast Money halftime report discussing role of hedge funds, idea dinners, reddit wallstreetbets , 146% short allowed, need for transparency of all parties, with chamath Why is there no equity markets advisory committee at SEC JoeBiden SenFeinstein wolfblitzer SenSchumer

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 🙌🏾😏

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

😂😂😂😂

You can’t pump money into something that has no innovation 😂

Singapore Singapore Latest News, Singapore Singapore Headlines