THURSDAY, APRIL 2, 2009
GameStop Sellers Cut Back on Playing
By Avi SalzmanTables: Buyers | Sellers
GONE ARE THE DAYS OF yacht parties and $400 champagne-bottle service. This recession is all about low-budget fun: think watching movies and playing videogames. GameStop (ticker: GME) has benefitted from the latter of those two trends.
The company's fourth-quarter earnings, released on March 26, wowed analysts, who gushed over the company's 10% comparable-store sales growth and acquisition of France's top videogame retailer. But two directors seem to feel differently. Together they sold nearly ...
Sorry.. I don't have the rest of this article.
Based on this article there might be an insiders selling.
Technical trading probably. 200ma was around 31.60 today, trending down to around 31.30 by mid next week. That was the peak for today. A bounce down was to be expected.
IMO it's fairly valued here at 10x 2009 earnings, and their long term future looks as bleak as ever as we get closer to store saturation and digital taking a larger % of sales.