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September 10, 2021

GameStop's Silence Makes Investors More Restless

 GameStop Corp's share price fell 9.2% on Thursday as most individual investors awaited developments on the company's latest plans.

The video game company posted a quarterly sales jump of 25% and most recently it has amassed more than $ 1 billion in new equity.

However, the company executives did not give clear details on the plans in renewing and developing the company.

On Thursday, GameStop's share price eased to a weekly low of $ 180.53 before rebounding slightly to $ 199.01.

Wedbush analyst Michael Pachter said this was the third time investors had waited for management to articulate the strategy but the company was seen as still failing to implement it.

He also added that GameStop is likely to continue to promise but remain silent to do so and will continue to find ways to increase online sales.

Following those factors, it assesses that Gamestop shares are likely to maintain a weak performance and are expected to decline to the $ 50 level.

GameStop is also seen facing stiff competition from Microsoft Corp’s Xbox which is developing a high -tech streaming device.

At this point, social media forums are filled with complaints by deck investors over the lack of detailed disclosure of Gamestop’s strategy.