GameStop Stock Doubled Last Week. The Challenges Haven't Changed. -- Barrons.com
GameStop Stock Doubled Last Week. The Challenges Haven't Changed. -- Barrons.com
DJ GameStop Stock Doubled Last Week. The Challenges Haven't Changed. -- Barrons.com
DJ GameStop股票上週翻了一番。挑戰並沒有改變。--Barrons.com
By Connor Smith
康納·史密斯(Connor Smith)著
Business continues to get worse for GameStop. This past week, the videogame retailer said that its holiday sales were down 3.1%, and the company continues to withhold earnings guidance, due to the "evolving impact of Covid-19."
GameStop的業務繼續惡化。在過去的一週裏，這家視頻遊戲零售商表示其假日銷售額下降了3.1%，由於“新冠肺炎的不斷變化的影響”，該公司繼續不公佈盈利指引。
It's no matter. GameStop (ticker: GME) shares rose a stunning 101% on the week. One week ago, we argued that the stock looked pricey at about $18, and now it's nearly $36. The timing of our bearish call was terrible, but our view remains the same.
這沒什麼大不了的。GameStop(股票代碼：GME)的股價本週上漲了101%，令人震驚。一週前，我們認為這隻股票看起來很貴，大約18美元，現在幾乎是36美元。我們看跌的時機很糟糕，但我們的觀點仍然不變。
The trigger for the rally seemed to be news Monday that Chewy co-founder Ryan Cohen would be joining GameStop's board of directors, along with two former Chewy executives. Cohen has pushed the company to close more stores and make big changes around e-commerce. Cohen's RC Ventures holds a 13% stake in GameStop. With three board seats, the firm can exert more influence on the company's strategy.
週一有消息稱，Chewy的聯合創始人瑞安·科恩(Ryan Cohen)將與兩名前Chewy高管一起加入GameStop的董事會，這似乎是股市上漲的導火索。科恩敦促該公司關閉更多門店，並在電子商務方面做出重大改變。科恩的RC Ventures持有GameStop 13%的股份。有了三個董事會席位，公司可以對公司的戰略施加更大的影響。
Most of last week's gains came on Wednesday -- two days after the board announcement -- when GameStop soared 57%, its largest one-day gain on record. As we noted last week, GameStop was primed for a short squeeze, in which short sellers faced with high borrowing costs and accumulating losses are forced to buy shares to cover their bearish bet. The rush to buy can lead to nosebleed pops, until reality sets in.
上週的大部分漲幅出現在週三，也就是董事會宣佈消息兩天後，GameStop股價飆升57%，創下有記錄以來的最大單日漲幅。正如我們上週指出的那樣，GameStop已經做好了空頭擠壓的準備，面臨高額借貸成本和不斷積累的虧損的賣空者被迫買入股票，以彌補他們的看跌押注。在現實到來之前，搶購可能會導致流鼻血。
For now, retail buyers are gloating about their gains in the "WallStreetBets" message board on social media site Reddit. Short sellers, on the other hand, were down $812 million in mark-to-market losses on Wednesday alone, according to Ihor Dusaniwsky of S3 Partners, which tracks short selling.
目前，零售買家對他們在社交媒體網站Reddit上的“WallStreetBets”留言板上的收益感到幸災樂禍。另一方面，根據追蹤賣空的S3 Partners的Ihor Dusaniwsky的數據，僅在週三，賣空者就減少了8.12億美元的按市值計價的損失。
Wedbush analyst Michael Pachter told Barron's that the pop was, "purely a short squeeze, accompanied by Robinhood-type retail enthusiasm for a transformation to e-commerce." High volatility and a limited float of GameStop shares meant shorts were "squeezed by rabid retail investors," he said. Asked if he thinks the gains will hold up, Pachter answered, "I do not." He has a Hold rating on GameStop, with a $16 price target.
韋德布什分析師邁克爾·帕切特告訴Barron‘s，這次流行是“純粹的短暫擠壓，伴隨着羅賓漢式的向電子商務轉型的零售熱情。”他説，較高的波動性和GameStop股票的有限流通性意味着空頭受到“狂熱散户投資者的擠壓”。當被問及他是否認為漲幅會持續下去時，帕切特回答説：“我不認為。”他對GameStop的評級為持有，目標價為16美元。
The year-over-year sales decline in GameStop's holiday period -- basically November and December -- came despite the rare launch of new videogame consoles from Sony and Microsoft. The company cited store closures and Covid-19 for the sales decline. Comparable-store sales, which strips out the effect of closures, were up 4.8%.
儘管索尼和微軟罕見地推出了新的視頻遊戲機，但GameStop假期期間(基本上是11月和12月)的銷售額同比下降。該公司將銷售額下降的原因歸因於門店關閉和新冠肺炎。剔除關閉影響的可比門店銷售額增長了4.8%。
When we reached out to GameStop before last week's article, a spokesman pointed us to a coming appearance by executives at the ICR investment conference. But shortly before the presentation this past Monday, the webcast link on GameStop's investor relations site disappeared. A conference spokesperson confirmed that the company had pulled out. GameStop representatives didn't return requests seeking comment on the sudden exit.
在上週的文章之前，當我們聯繫GameStop時，一位發言人指出，高管們即將出現在ICR投資會議上。但在上週一演講前不久，GameStop投資者關係網站上的網絡直播鏈接消失了。一位會議發言人證實，該公司已經退出。GameStop的代表沒有回覆尋求對突然退出發表評論的請求。
Write to Connor Smith at connor.smith@barrons.com
寫信給Connor Smith，電子郵件：connor.smith@Barrons.com
(END) Dow Jones Newswires
(完)道瓊斯通訊社
January 15, 2021 18:05 ET (23:05 GMT)
2021年1月15日美國東部時間18：05(格林尼治標準時間23：05)
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