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2021-03-26

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GameStop Stock Had a Bad Day. Earnings Just Made It Worse.<blockquote>游戏驿站股票经历了糟糕的一天。盈利只是让情况变得更糟。</blockquote>

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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":356011615,"tweetId":"356011615","gmtCreate":1616740679137,"gmtModify":1634524265899,"author":{"id":3577103672190304,"idStr":"3577103672190304","authorId":3577103672190304,"authorIdStr":"3577103672190304","name":"ziqii","avatar":"https://static.tigerbbs.com/292e38661a1a4712ada006c4ee6b3400","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":3,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>lmao</body></html>","htmlText":"<html><head></head><body>lmao</body></html>","text":"lmao","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/356011615","repostId":1187858811,"repostType":2,"repost":{"id":"1187858811","kind":"news","pubTimestamp":1616577758,"share":"https://www.laohu8.com/m/news/1187858811?lang=zh_CN&edition=full","pubTime":"2021-03-24 17:22","market":"us","language":"en","title":"GameStop Stock Had a Bad Day. Earnings Just Made It Worse.<blockquote>游戏驿站股票经历了糟糕的一天。盈利只是让情况变得更糟。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1187858811","media":"Barrons","summary":"GameStop‘s fiscal fourth-quarter results came in just short of expectations, but the company announc","content":"GameStop‘s fiscal fourth-quarter results came in just short of expectations, but the company announced another trio of hires with e-commerce backgrounds. The stock was down in after-hours trading.<blockquote>游戏驿站第四财季业绩略低于预期，但该公司宣布了另外三名具有电子商务背景的员工。该股在盘后交易中下跌。</blockquote> The company reported fiscal fourth-quarter earnings of $1.34 per share, barely missing Wall Street’s consensus estimates of $1.35 a share, according to FactSet. Sales of $2.12 billion were down from $2.19 billion in 2019, and came in short of estimates for $2.21 billion.<blockquote>FactSet的数据显示，该公司第四财季每股收益为1.34美元，勉强低于华尔街普遍预期的每股1.35美元。销售额为21.2亿美元，低于2019年的21.9亿美元，也低于预期的22.1亿美元。</blockquote> GameStop&nbsp;(ticker: GME) said in&nbsp;a separate announcement&nbsp;that&nbsp;Amazon.com&nbsp;alum Jenna Owens will be its next chief operating officer. Owens was director and general manager for distribution and multi-channel fulfillment at the e-commerce giant. Former Chewy Vice President of E-Commerce Neda Pacifico was also named senior vice president of e-commerce at GameStop. Ken Suzuki, who was vice president of supply chain technology at Zulily, will be GameStop’s vice president of supply chain systems. All three begin on March 29.<blockquote>游戏驿站（股票代码：GME）在另一份公告中表示，Amazon.com校友Jenna Owens将担任其下一任首席运营官。欧文斯是这家电子商务巨头负责分销和多渠道履行的董事兼总经理。前Chewy电子商务副总裁Neda Pacifico也被任命为游戏驿站电子商务高级副总裁。曾任Zulily供应链技术副总裁的Ken Suzuki将担任游戏驿站供应链系统副总裁。这三项活动都从3月29日开始。</blockquote> The company’s comparable sales grew 6.5% year-over-year, beating consensus estimates of 4.7% growth, according to FactSet. E-commerce sales, which are factored in to comparable sales, grew 175% year-over-year. E-commerce represented 34% of the company’s net sales, up from 12% in the prior fourth quarter.<blockquote>FactSet的数据显示，该公司可比销售额同比增长6.5%，超出市场普遍预期的4.7%增长。计入可比销售额的电子商务销售额同比增长175%。电子商务占公司净销售额的34%，高于上一季度的12%。</blockquote> CEO George Sherman said in the earnings release that February comparable store sales were up 23% year-over-year, which included strength in hardware sales.<blockquote>首席执行官George Sherman在财报中表示，2月份可比商店销售额同比增长23%，其中包括硬件销售的强劲。</blockquote> “Our emphasis in 2021 will be on improving our E-Commerce and customer experience, increasing our speed of delivery, providing superior customer service and expanding our catalogue,” Sherman added.<blockquote>“我们2021年的重点将是改善我们的电子商务和客户体验，提高我们的交付速度，提供卓越的客户服务和扩大我们的产品目录，”谢尔曼补充道。</blockquote> The company ended the fiscal year with $635 million in cash and restricted cash, $146.7 million in short-term debt, and $216 million of long-term debt. The company had reduced short-term debt to $48.5 million, as of March 15.<blockquote>本财年结束时，该公司拥有6.35亿美元的现金和限制性现金、1.467亿美元的短期债务和2.16亿美元的长期债务。截至3月15日，该公司已将短期债务减少至4850万美元。</blockquote> GameStop stock was down 14% to $156.89 in after hours trading—but given the stock’s&nbsp;volatility in recent months, its initial reaction could shift dramatically in either direction during Wednesday’s session.<blockquote>游戏驿站股价在盘后交易中下跌14%，至156.89美元，但考虑到该股近几个月的波动性，其最初的反应可能会在周三的交易中向任一方向发生巨大转变。</blockquote> GameStop’s results were likely hampered by Covid-19, keeping shoppers at home. On the flip side, it’s may have boosted the company’s improving e-commerce offerings. Over the summer, the shift to digital game downloads accelerated, something that GameStop will have to contend with as it beefs up its turnaround efforts.<blockquote>游戏驿站的业绩可能受到Covid-19的阻碍，导致购物者呆在家里。另一方面，这可能促进了该公司电子商务产品的改进。今年夏天，向数字游戏下载的转变加速了，这是游戏驿站在加大扭亏为盈力度时必须应对的问题。</blockquote> While GameStop’s surging valuation has had analysts scratching their heads, the stock’s earlier bulls viewed it as an undervalued pick ahead of&nbsp;the launch of new gaming consoles. The stock fell as low as $2.57 in the past year and was trading below $7 when Chewy co-founder&nbsp; Ryan Cohen first revealed a 9% stake. He&nbsp;upped his stake&nbsp;to about 13% in December, at an average price of $14.80 a share. Michael Burry, of “The Big Short” fame, and Keith Gill, known as RoaringKitty on YouTube, bet on GameStop stock&nbsp;in 2019 for similar reasons.<blockquote>尽管游戏驿站估值飙升让分析师摸不着头脑，但该股早期的多头认为，在新游戏机推出之前，该股被低估。该股去年跌至2.57美元，当Chewy联合创始人瑞安·科恩(Ryan Cohen)首次透露持有9%的股份时，交易价格低于7美元。去年12月，他将持股比例提高至约13%，平均价格为每股14.80美元。因“大空头”而出名的Michael Burry和在YouTube上被称为RoaringKitty的Keith Gill出于类似原因在2019年押注了游戏驿站股票。</blockquote> Some hedge funds bet aggressively on a price decline by borrowing shares and selling them, waiting for a chance to buy and replace the shares, pocketing the difference. GameStop’s short-selling interest exceeded shares available for trading before the news of Cohen and two associates joining the board helped trigger a squeeze that was juiced by options activity.<blockquote>一些对冲基金通过借入股票并出售股票，等待购买和替换股票的机会，将差价收入囊中，从而大举押注价格下跌。在科恩和两名同事加入董事会的消息引发期权活动加剧的挤压之前，游戏驿站的卖空兴趣超过了可供交易的股票。</blockquote> It’s been hard to price GameStop because there’s so much investors don’t know. As BofA Global Research analyst Curtis Nagle noted last week, investors hadn’t seen actual details on cost, timeline, and impacts to earnings of any potential turnaround plan. While a successful turnaround could buck the perception from some on Wall Street that GameStop is an antiquated retailer destined to go the way of&nbsp;Blockbuster Videoor RadioShack, it faces stiff competition from several well-capitalized players in the online gaming and computer device business.<blockquote>很难给游戏驿站定价，因为投资者不知道的东西太多了。正如美国银行全球研究分析师柯蒂斯·内格尔上周指出的那样，投资者尚未看到任何潜在扭亏为盈计划的成本、时间表以及对盈利影响的实际细节。虽然成功的扭亏为盈可能会抵消华尔街一些人的看法，即游戏驿站是一家过时的零售商，注定会重蹈Blockbuster Videoor或RadioShack的覆辙，但它在在线游戏和计算机设备业务中面临着来自几家资本雄厚的参与者的激烈竞争。</blockquote> Those risks, unknowns, and GameStop’s impressive 2020 run, led&nbsp;Barron’s&nbsp;to recommend investors sit this one&nbsp;out in a Jan. 8 story—though we did highlight the high short interest and potential for a squeeze. To be sure, our timing was terrible in hindsight. But the rationale was that a squeeze is a short-term event that likely wouldn’t change the company’s fundamentals. Investors found out in a February filing that Burry’s Scion Asset Management exited its GameStop position before the end of 2020.<blockquote>这些风险、未知因素以及游戏驿站令人印象深刻的2020年表现引领了巴伦周刊在1月8日的报道中建议投资者不要插手此事——尽管我们确实强调了高空头兴趣和挤压的可能性。可以肯定的是，事后看来，我们的时机很糟糕。但理由是挤压是短期事件，可能不会改变公司的基本面。投资者在2月份提交的文件中发现，Burry的Scion Asset Management在2020年底之前退出了其游戏驿站头寸。</blockquote> Days after that initial bearish story, GameStop&nbsp;reported holiday sales results&nbsp;that implied a disappointing December despite the hype around new consoles. The company also pulled out of a planned appearance by executives at the ICR investment conference. But the news that Cohen and two associates were joining the board and e-commerce sales were up 309% overshadowed the sales results.<blockquote>在最初的悲观故事发生几天后，游戏驿站公布了假日销售业绩，尽管围绕新游戏机进行了大肆宣传，但这意味着12月份的销售业绩令人失望。该公司还取消了高管出席ICR投资会议的计划。但科恩和两名同事加入董事会以及电子商务销售额增长309%的消息掩盖了销售业绩。</blockquote> What followed was GameStop’s parabolic run in January and February, which took on a larger life as the story evolved into a larger debate about short selling and retail investors’ access to capital markets. The stock’s most recent surge followed a few drips on information related to Cohen’s plans,including three promising hires&nbsp;and a new board committee&nbsp;he will chair. The company also announced a hunt for&nbsp;a new chief financial officer.<blockquote>随之而来的是游戏驿站在1月和2月的抛物线式上涨，随着故事演变成一场关于卖空和散户投资者进入资本市场的更大规模辩论，这场辩论变得更加激烈。该股最近的飙升是在与科恩计划相关的一些信息泄露之后发生的，包括三名有前途的员工和他将担任主席的新董事会委员会。该公司还宣布寻找新的首席财务官。</blockquote> The company’s earnings call started at 5 p.m. EDT, and as of publication was at maximum capacity. Some fans of the stock were streaming the earnings call on the Amazon-backed live-streaming platform Twitch. The company said the call would not include a question and answer section with analysts, as is typical for such events.<blockquote>该公司的财报看涨期权于下午5点开始。美国东部时间，截至发稿时已达到最大容量。该股的一些粉丝正在亚马逊支持的直播平台Twitch上直播财报看涨期权。该公司表示，看涨期权不会包括与分析师的问答部分，这是此类活动的典型情况。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop Stock Had a Bad Day. 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Earnings Just Made It Worse.<blockquote>游戏驿站股票经历了糟糕的一天。盈利只是让情况变得更糟。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-03-24 17:22\n\n</h4>\n</header>\n<article>\nGameStop‘s fiscal fourth-quarter results came in just short of expectations, but the company announced another trio of hires with e-commerce backgrounds. The stock was down in after-hours trading.<blockquote>游戏驿站第四财季业绩略低于预期，但该公司宣布了另外三名具有电子商务背景的员工。该股在盘后交易中下跌。</blockquote> The company reported fiscal fourth-quarter earnings of $1.34 per share, barely missing Wall Street’s consensus estimates of $1.35 a share, according to FactSet. Sales of $2.12 billion were down from $2.19 billion in 2019, and came in short of estimates for $2.21 billion.<blockquote>FactSet的数据显示，该公司第四财季每股收益为1.34美元，勉强低于华尔街普遍预期的每股1.35美元。销售额为21.2亿美元，低于2019年的21.9亿美元，也低于预期的22.1亿美元。</blockquote> GameStop&nbsp;(ticker: GME) said in&nbsp;a separate announcement&nbsp;that&nbsp;Amazon.com&nbsp;alum Jenna Owens will be its next chief operating officer. Owens was director and general manager for distribution and multi-channel fulfillment at the e-commerce giant. Former Chewy Vice President of E-Commerce Neda Pacifico was also named senior vice president of e-commerce at GameStop. Ken Suzuki, who was vice president of supply chain technology at Zulily, will be GameStop’s vice president of supply chain systems. All three begin on March 29.<blockquote>游戏驿站（股票代码：GME）在另一份公告中表示，Amazon.com校友Jenna Owens将担任其下一任首席运营官。欧文斯是这家电子商务巨头负责分销和多渠道履行的董事兼总经理。前Chewy电子商务副总裁Neda Pacifico也被任命为游戏驿站电子商务高级副总裁。曾任Zulily供应链技术副总裁的Ken Suzuki将担任游戏驿站供应链系统副总裁。这三项活动都从3月29日开始。</blockquote> The company’s comparable sales grew 6.5% year-over-year, beating consensus estimates of 4.7% growth, according to FactSet. E-commerce sales, which are factored in to comparable sales, grew 175% year-over-year. E-commerce represented 34% of the company’s net sales, up from 12% in the prior fourth quarter.<blockquote>FactSet的数据显示，该公司可比销售额同比增长6.5%，超出市场普遍预期的4.7%增长。计入可比销售额的电子商务销售额同比增长175%。电子商务占公司净销售额的34%，高于上一季度的12%。</blockquote> CEO George Sherman said in the earnings release that February comparable store sales were up 23% year-over-year, which included strength in hardware sales.<blockquote>首席执行官George Sherman在财报中表示，2月份可比商店销售额同比增长23%，其中包括硬件销售的强劲。</blockquote> “Our emphasis in 2021 will be on improving our E-Commerce and customer experience, increasing our speed of delivery, providing superior customer service and expanding our catalogue,” Sherman added.<blockquote>“我们2021年的重点将是改善我们的电子商务和客户体验，提高我们的交付速度，提供卓越的客户服务和扩大我们的产品目录，”谢尔曼补充道。</blockquote> The company ended the fiscal year with $635 million in cash and restricted cash, $146.7 million in short-term debt, and $216 million of long-term debt. The company had reduced short-term debt to $48.5 million, as of March 15.<blockquote>本财年结束时，该公司拥有6.35亿美元的现金和限制性现金、1.467亿美元的短期债务和2.16亿美元的长期债务。截至3月15日，该公司已将短期债务减少至4850万美元。</blockquote> GameStop stock was down 14% to $156.89 in after hours trading—but given the stock’s&nbsp;volatility in recent months, its initial reaction could shift dramatically in either direction during Wednesday’s session.<blockquote>游戏驿站股价在盘后交易中下跌14%，至156.89美元，但考虑到该股近几个月的波动性，其最初的反应可能会在周三的交易中向任一方向发生巨大转变。</blockquote> GameStop’s results were likely hampered by Covid-19, keeping shoppers at home. On the flip side, it’s may have boosted the company’s improving e-commerce offerings. Over the summer, the shift to digital game downloads accelerated, something that GameStop will have to contend with as it beefs up its turnaround efforts.<blockquote>游戏驿站的业绩可能受到Covid-19的阻碍，导致购物者呆在家里。另一方面，这可能促进了该公司电子商务产品的改进。今年夏天，向数字游戏下载的转变加速了，这是游戏驿站在加大扭亏为盈力度时必须应对的问题。</blockquote> While GameStop’s surging valuation has had analysts scratching their heads, the stock’s earlier bulls viewed it as an undervalued pick ahead of&nbsp;the launch of new gaming consoles. The stock fell as low as $2.57 in the past year and was trading below $7 when Chewy co-founder&nbsp; Ryan Cohen first revealed a 9% stake. He&nbsp;upped his stake&nbsp;to about 13% in December, at an average price of $14.80 a share. Michael Burry, of “The Big Short” fame, and Keith Gill, known as RoaringKitty on YouTube, bet on GameStop stock&nbsp;in 2019 for similar reasons.<blockquote>尽管游戏驿站估值飙升让分析师摸不着头脑，但该股早期的多头认为，在新游戏机推出之前，该股被低估。该股去年跌至2.57美元，当Chewy联合创始人瑞安·科恩(Ryan Cohen)首次透露持有9%的股份时，交易价格低于7美元。去年12月，他将持股比例提高至约13%，平均价格为每股14.80美元。因“大空头”而出名的Michael Burry和在YouTube上被称为RoaringKitty的Keith Gill出于类似原因在2019年押注了游戏驿站股票。</blockquote> Some hedge funds bet aggressively on a price decline by borrowing shares and selling them, waiting for a chance to buy and replace the shares, pocketing the difference. GameStop’s short-selling interest exceeded shares available for trading before the news of Cohen and two associates joining the board helped trigger a squeeze that was juiced by options activity.<blockquote>一些对冲基金通过借入股票并出售股票，等待购买和替换股票的机会，将差价收入囊中，从而大举押注价格下跌。在科恩和两名同事加入董事会的消息引发期权活动加剧的挤压之前，游戏驿站的卖空兴趣超过了可供交易的股票。</blockquote> It’s been hard to price GameStop because there’s so much investors don’t know. As BofA Global Research analyst Curtis Nagle noted last week, investors hadn’t seen actual details on cost, timeline, and impacts to earnings of any potential turnaround plan. While a successful turnaround could buck the perception from some on Wall Street that GameStop is an antiquated retailer destined to go the way of&nbsp;Blockbuster Videoor RadioShack, it faces stiff competition from several well-capitalized players in the online gaming and computer device business.<blockquote>很难给游戏驿站定价，因为投资者不知道的东西太多了。正如美国银行全球研究分析师柯蒂斯·内格尔上周指出的那样，投资者尚未看到任何潜在扭亏为盈计划的成本、时间表以及对盈利影响的实际细节。虽然成功的扭亏为盈可能会抵消华尔街一些人的看法，即游戏驿站是一家过时的零售商，注定会重蹈Blockbuster Videoor或RadioShack的覆辙，但它在在线游戏和计算机设备业务中面临着来自几家资本雄厚的参与者的激烈竞争。</blockquote> Those risks, unknowns, and GameStop’s impressive 2020 run, led&nbsp;Barron’s&nbsp;to recommend investors sit this one&nbsp;out in a Jan. 8 story—though we did highlight the high short interest and potential for a squeeze. To be sure, our timing was terrible in hindsight. But the rationale was that a squeeze is a short-term event that likely wouldn’t change the company’s fundamentals. Investors found out in a February filing that Burry’s Scion Asset Management exited its GameStop position before the end of 2020.<blockquote>这些风险、未知因素以及游戏驿站令人印象深刻的2020年表现引领了巴伦周刊在1月8日的报道中建议投资者不要插手此事——尽管我们确实强调了高空头兴趣和挤压的可能性。可以肯定的是，事后看来，我们的时机很糟糕。但理由是挤压是短期事件，可能不会改变公司的基本面。投资者在2月份提交的文件中发现，Burry的Scion Asset Management在2020年底之前退出了其游戏驿站头寸。</blockquote> Days after that initial bearish story, GameStop&nbsp;reported holiday sales results&nbsp;that implied a disappointing December despite the hype around new consoles. The company also pulled out of a planned appearance by executives at the ICR investment conference. But the news that Cohen and two associates were joining the board and e-commerce sales were up 309% overshadowed the sales results.<blockquote>在最初的悲观故事发生几天后，游戏驿站公布了假日销售业绩，尽管围绕新游戏机进行了大肆宣传，但这意味着12月份的销售业绩令人失望。该公司还取消了高管出席ICR投资会议的计划。但科恩和两名同事加入董事会以及电子商务销售额增长309%的消息掩盖了销售业绩。</blockquote> What followed was GameStop’s parabolic run in January and February, which took on a larger life as the story evolved into a larger debate about short selling and retail investors’ access to capital markets. The stock’s most recent surge followed a few drips on information related to Cohen’s plans,including three promising hires&nbsp;and a new board committee&nbsp;he will chair. The company also announced a hunt for&nbsp;a new chief financial officer.<blockquote>随之而来的是游戏驿站在1月和2月的抛物线式上涨，随着故事演变成一场关于卖空和散户投资者进入资本市场的更大规模辩论，这场辩论变得更加激烈。该股最近的飙升是在与科恩计划相关的一些信息泄露之后发生的，包括三名有前途的员工和他将担任主席的新董事会委员会。该公司还宣布寻找新的首席财务官。</blockquote> The company’s earnings call started at 5 p.m. EDT, and as of publication was at maximum capacity. Some fans of the stock were streaming the earnings call on the Amazon-backed live-streaming platform Twitch. The company said the call would not include a question and answer section with analysts, as is typical for such events.<blockquote>该公司的财报看涨期权于下午5点开始。美国东部时间，截至发稿时已达到最大容量。该股的一些粉丝正在亚马逊支持的直播平台Twitch上直播财报看涨期权。该公司表示，看涨期权不会包括与分析师的问答部分，这是此类活动的典型情况。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/gamestop-earnings-came-in-just-short-of-expectations-the-stock-is-down-51616533875?mod=RTA\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/gamestop-earnings-came-in-just-short-of-expectations-the-stock-is-down-51616533875?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187858811","content_text":"GameStop‘s fiscal fourth-quarter results came in just short of expectations, but the company announced another trio of hires with e-commerce backgrounds. The stock was down in after-hours trading.\nThe company reported fiscal fourth-quarter earnings of $1.34 per share, barely missing Wall Street’s consensus estimates of $1.35 a share, according to FactSet. Sales of $2.12 billion were down from $2.19 billion in 2019, and came in short of estimates for $2.21 billion.\nGameStop (ticker: GME) said in a separate announcement that Amazon.com alum Jenna Owens will be its next chief operating officer. Owens was director and general manager for distribution and multi-channel fulfillment at the e-commerce giant. Former Chewy Vice President of E-Commerce Neda Pacifico was also named senior vice president of e-commerce at GameStop. Ken Suzuki, who was vice president of supply chain technology at Zulily, will be GameStop’s vice president of supply chain systems. All three begin on March 29.\nThe company’s comparable sales grew 6.5% year-over-year, beating consensus estimates of 4.7% growth, according to FactSet. E-commerce sales, which are factored in to comparable sales, grew 175% year-over-year. E-commerce represented 34% of the company’s net sales, up from 12% in the prior fourth quarter.\nCEO George Sherman said in the earnings release that February comparable store sales were up 23% year-over-year, which included strength in hardware sales.\n“Our emphasis in 2021 will be on improving our E-Commerce and customer experience, increasing our speed of delivery, providing superior customer service and expanding our catalogue,” Sherman added.\nThe company ended the fiscal year with $635 million in cash and restricted cash, $146.7 million in short-term debt, and $216 million of long-term debt. The company had reduced short-term debt to $48.5 million, as of March 15.\nGameStop stock was down 14% to $156.89 in after hours trading—but given the stock’s volatility in recent months, its initial reaction could shift dramatically in either direction during Wednesday’s session.\nGameStop’s results were likely hampered by Covid-19, keeping shoppers at home. On the flip side, it’s may have boosted the company’s improving e-commerce offerings. Over the summer, the shift to digital game downloads accelerated, something that GameStop will have to contend with as it beefs up its turnaround efforts.\nWhile GameStop’s surging valuation has had analysts scratching their heads, the stock’s earlier bulls viewed it as an undervalued pick ahead of the launch of new gaming consoles. The stock fell as low as $2.57 in the past year and was trading below $7 when Chewy co-founder  Ryan Cohen first revealed a 9% stake. He upped his stake to about 13% in December, at an average price of $14.80 a share. Michael Burry, of “The Big Short” fame, and Keith Gill, known as RoaringKitty on YouTube, bet on GameStop stock in 2019 for similar reasons.\nSome hedge funds bet aggressively on a price decline by borrowing shares and selling them, waiting for a chance to buy and replace the shares, pocketing the difference. GameStop’s short-selling interest exceeded shares available for trading before the news of Cohen and two associates joining the board helped trigger a squeeze that was juiced by options activity.\nIt’s been hard to price GameStop because there’s so much investors don’t know. As BofA Global Research analyst Curtis Nagle noted last week, investors hadn’t seen actual details on cost, timeline, and impacts to earnings of any potential turnaround plan. While a successful turnaround could buck the perception from some on Wall Street that GameStop is an antiquated retailer destined to go the way of Blockbuster Videoor RadioShack, it faces stiff competition from several well-capitalized players in the online gaming and computer device business.\nThose risks, unknowns, and GameStop’s impressive 2020 run, led Barron’s to recommend investors sit this one out in a Jan. 8 story—though we did highlight the high short interest and potential for a squeeze. To be sure, our timing was terrible in hindsight. But the rationale was that a squeeze is a short-term event that likely wouldn’t change the company’s fundamentals. Investors found out in a February filing that Burry’s Scion Asset Management exited its GameStop position before the end of 2020.\nDays after that initial bearish story, GameStop reported holiday sales results that implied a disappointing December despite the hype around new consoles. The company also pulled out of a planned appearance by executives at the ICR investment conference. But the news that Cohen and two associates were joining the board and e-commerce sales were up 309% overshadowed the sales results.\nWhat followed was GameStop’s parabolic run in January and February, which took on a larger life as the story evolved into a larger debate about short selling and retail investors’ access to capital markets. The stock’s most recent surge followed a few drips on information related to Cohen’s plans,including three promising hires and a new board committee he will chair. The company also announced a hunt for a new chief financial officer.\nThe company’s earnings call started at 5 p.m. EDT, and as of publication was at maximum capacity. Some fans of the stock were streaming the earnings call on the Amazon-backed live-streaming platform Twitch. The company said the call would not include a question and answer section with analysts, as is typical for such events.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":859,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/356011615"}