Video game Michael Pachter analyst weighs in on GameStops earnings call

YOUR LINK HERE:

http://youtube.com/watch?v=fOJV_qaJ2ew

Michael Pachter, Wedbush managing director of equity research, joins 'Power Lunch' to discuss his new $29 price target, GameStop's earnings call earlier this week and what's next for GameStop. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi • GameStop snapped a five-day losing streak with a significant surge on Thursday, as shares of the video game retailer rose more than 50% and showed that their wild swings are not yet over. • The stock slumped 33% in the prior session after the company reported disappointing fourth-quarter results and failed to give in-depth detail about its turnaround plans. GameStop also disclosed that it was considering selling more stock. • That was the fifth-straight negative day for the name after closing near $210 per share on March 17. The stock rose 52.7% to close at $183.75 on Thursday. • There was no apparent news driving Thursday’s price action. GameStop has been the most high-profile “meme stock,” which are popular among retail traders on Reddit and other social media platforms. • GameStop famously rocketed above $400 per share in January before dropping roughly 90% in less than a month. • Other popular Reddit trades also bounced higher on Thursday, with Koss climbing 57% and AMC Entertainment gaining 21%. • GameStop is a traditional brick-and-mortar retailer that is attempting to pivot into e-commerce, led in part by board member and Chewy co-founder Ryan Cohen. Most recently, the company hired Jenna Owens, a former Amazon and Google executive, as its new chief operating officer. • The company, which has largely been quiet about the violent gyrations in its stock price this year, has seen several executive roles turn over as it gears up for its transition. • » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision • » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC • » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic • Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. • The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-n... • • Connect with CNBC News Online • Get the latest news: http://www.cnbc.com/ • Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC • Follow CNBC News on Facebook: • Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC • Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC • https://www.cnbc.com/select/best-cred... • #CNBC • #CNBCTV

#############################

New on site