GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses
GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses
A GameStop Corporation (NYSE:GME) analyst is questioning why the video game retailer is trading at a premium to its cash as it works through managing operating losses, but provided no strategy in its second-quarter earnings report.
一位游戏驿站公司（NYSE:GME）的分析师质疑为什么这家电子游戏零售商的交易价格高于其现金，尽管它正在努力管理经营亏损，但在其第二季度的盈利报告中没有提供任何策略。
The GameStop Analyst: Wedbush analyst Michael Pachter reiterated an Underperform rating on GameStop and lowered the price target from $11 to $10.
游戏驿站分析师：Wedbush分析师迈克尔·帕切特重申了对游戏驿站的弱表现评级，并将目标价格从11美元降至10美元。
Read Also: GameStop Q2 Earnings Preview: Analyst Estimates, Return To Profitability In Focus — Will Investors Get Update On Cash Plans?
阅读更多: GameStop第二季度盈利预览: 分析师预估，关注盈利能力? - 投资者会得到现金计划的更新吗?
The Analyst Takeaways: The video game retailer shows a sequential improvement to profit in the second quarter, Pachter said.
分析师的观点：帕切特表示，这家电子游戏零售商在第二季度的利润有了顺序性改善。
The analyst is skeptical of GameStop's future with a lack of strategy or concern for shareholders.
分析师对游戏驿站的未来感到怀疑，认为其缺乏策略或对股东的关心。
"While we admire GameStop's ability to manage operating losses, we think it would be just as reasonable for management to close all of its stores and operate as a bank," Pachter said.
帕切特说：“虽然我们欣赏游戏驿站管理经营亏损的能力，但我们认为管理层关闭所有门店并以银行的形式运营同样是合理的。”
GameStop has around $10 per share in cash and shares trade for roughly two times that figure, Pachter added.
帕切特补充说，游戏驿站每股现金约为10美元，而股份的交易价格大约是这个数字的两倍。
"Without a hint of any strategy that would reasonably deploy capital, we do not see why shares trade at 2x cash."
“在没有表现出合理部署资本的任何策略的情况下，我们不明白为什么股票要以2倍的现金交易。”
The video game retailer announced accelerated store closures, but without more commentary on strategy, Pachter said the company is "no longer beholden to shareholder interests."
这家电子游戏零售商宣布了加速关闭门店的计划，但没有更多关于策略的评论，帕赫特说该公司“不再受限于股东利益。”
Pachter said the store closures will result in further revenue declines and could also hurt profitability.
帕赫特表示，关闭门店将导致进一步的营业收入下降，并可能损害盈利能力。
GameStop faces headwinds of the shift of physical video games going digital, declining video game sales, growth of subscription services and hardware sales declining, the analyst added.
分析师补充说，GameStop面临着实体电子游戏向数字化转变、电子游戏销售下降、订阅服务增长和硬件销售下滑的逆风。
"GME shares trade at a level that ignores the company's many challenges ahead."
“GME股票的交易水平忽视了该公司未来的众多挑战。”
The $10 price target from Pachter covers the cash level of the company. The analyst once had a $1.50 price target before cash raises with the company viewed with short-term bankruptcy risks.
帕赫特的目标价为10美元，相当于该公司的现金水平。在现金增加以前，分析师曾最低将目标价定为1.50美元并认为该公司面临短期破产风险。
"Without any indication that the company plans a turnaround, we remain reluctant to assume that it can and will. Instead, it appears to be moving further away from any shareholder accountability."
“在没有任何迹象表明该公司计划扭转局面的情况下，我们仍不愿意相信它能够和愿意这样做。相反，它似乎正在远离与股东的任何问责。”
GME Price Action: GameStop stock is down over 14.7% to $20.03 at last check on Wednesday versus a 52-week trading range of $9.95 to $64.83. GameStop shares are up 25% year-to-date in 2024.
GME价格走势：GameStop股票在上周三最新交易时下跌14.7%，至20.03美元，52周交易区间为9.95美元至64.83美元。GameStop股票在2024年累计上涨25%。
- GameStop Converts Stores To Retro Retailers To Help Gamers Find Old Nintendo, Sega, Game Boy, PlayStation, Xbox Consoles
- 游戏驿站将商店改装成复古零售店，帮助玩家找到旧任天堂、世嘉、Game Boy、PlayStation、Xbox 游戏主机。
Image: Shutterstock
图片：shutterstock