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.
GameStop Corporation（紐約證券交易所代碼：GME）的一位分析師質疑爲什麼這家視頻遊戲零售商在努力管理營業虧損時以現金溢價進行交易，但在第二季度業績中沒有提供任何策略。
The GameStop Analyst: Wedbush analyst Michael Pachter reiterated an Underperform rating on GameStop and lowered the price target from $11 to $10.
GameStop分析師：Wedbush分析師邁克爾·帕切特重申了對GameStop的表現不佳的評級，並將目標股價從11美元下調至10美元。
Read Also: GameStop Q2 Earnings Preview: Analyst Estimates, Return To Profitability In Focus — Will Investors Get Update On Cash Plans?
另請閱讀：GameStop第二季度收益預覽：分析師估計，重返盈利能力是焦點——投資者會獲得現金計劃的最新消息嗎？
The Analyst Takeaways: The video game retailer shows a sequential improvement to profit in the second quarter, Pachter said.
分析師要點：帕切特說，這家電子遊戲零售商第二季度的利潤連續改善。
The analyst is skeptical of GameStop's future with a lack of strategy or concern for shareholders.
由於缺乏戰略或對股東的擔憂，分析師對GameStop的未來持懷疑態度。
"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.
帕切特說：「儘管我們欽佩GameStop管理營業虧損的能力，但我們認爲管理層關閉所有門店並像銀行一樣合理地運營。」
GameStop has around $10 per share in cash and shares trade for roughly two times that figure, Pachter added.
帕切特補充說，GameStop的現金約爲每股10美元，股票的交易價格大約是該數字的兩倍。
"Without a hint of any strategy that would reasonably deploy capital, we do not see why shares trade at 2x cash."
「如果沒有任何可以合理部署資本的策略，我們就不明白爲什麼股票的交易價格是2倍的現金。」
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."
這家電子遊戲零售商宣佈加速關閉門店，但沒有對戰略發表更多評論，帕切特表示，該公司 「不再受股東利益的約束」。
Pachter said the store closures will result in further revenue declines and could also hurt profitability.
帕切特說，關閉門店將導致收入進一步下降，也可能損害盈利能力。
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.
分析師補充說，GameStop面臨着實體視頻遊戲向數字化轉移、視頻遊戲銷量下降、訂閱服務增長和硬件銷售下降等不利因素。
"GME shares trade at a level that ignores the company's many challenges ahead."
「GME股票的交易水平忽略了公司未來的許多挑戰。」
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.
帕切特的10美元目標股價涵蓋了該公司的現金水平。在籌集現金之前，該分析師曾設定1.50美元的目標股價，該公司面臨短期破產風險。
"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."
「在沒有任何跡象表明公司計劃進行轉型的情況下，我們仍然不願假設它可以而且將會發生。相反，它似乎離任何股東問責制越來越遠。」
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價格走勢：週三最後一次查看時，GameStop股價下跌超過14.7％，至20.03美元，而52周的交易區間爲9.95美元至64.83美元。2024年迄今爲止，GameStop的股價上漲了25％。
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