GameStop Slides on View Pandemic Will Force Store Closures
- Wedbush says ‘mass store closures are likely’ in downgrade
- Fourth-quarter results scheduled for release on Thursday
Photographer: Luke Sharrett/Bloomberg
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GameStop Corp. shares tumbled on Friday after analysts wrote that the video-game retailer would likely have to close stores in response to the coronavirus outbreak, disputing the company’s reported view that it was an “essential” retailer.
Late Thursday, Kotaku reported that GameStop believes its stores are “essential retail,” like grocery stores or pharmacies, and therefore able to remain open despite the pandemic.