Jim Cramer Agrees GameStop Should Consider Operating As A Bank And Labels The Meme Stock As 'Massively Overvalued' SPAC
Portfolio Pulse from Benzinga Neuro
Jim Cramer criticizes GameStop's business model, likening it to an overvalued SPAC. Despite a 31% sales decline, GameStop turned a profit from interest on its cash reserves. Analysts suggest closing physical stores and operating as a bank. GameStop's stock fell 11.98% after missing revenue estimates.
September 12, 2024 | 6:49 am
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Jim Cramer criticizes GameStop's business model, comparing it to an overvalued SPAC. GameStop reported a 31% sales decline and missed revenue estimates, leading to a significant stock price drop.
Jim Cramer's negative comments and the company's poor financial performance, including a 31% sales decline and missed revenue estimates, are likely to negatively impact GameStop's stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100