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GameStop Corp. (GME)
The video game industry, which surged ahead for a number of years, is now grappling with the recession. Heavy job losses and reduced access to credit markets have led to lower discretionary spending.
This has resulted in lower demand for video game consoles and new software. This unfavorable backdrop was evident from GameStop's (GME - Analyst Report) dismal recent results. Despite the weak environment, management expects the release of popular titles in the second half of 2009 to stimulate sales.
We maintain an Underperform rating on the stock until we see an upturn in the company's growth trajectory.
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| Market Summary | Nov 24, 2009 06:33 am ET |
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