GameStop Slips as Skeptic Warns That Reddit Rally Will Fade
Bailey Lipschultz, 12 April 2021
(Bloomberg) — GameStop 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.
The 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. 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. Continue reading “Article: GameStop Slips as Skeptic Warns That Reddit Rally Will Fade”
