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GameStop isn't just a store that sells video games. It's also one of the biggest bets Wall Street traders have made lately, with nearly all of them expecting it to fail. But a quick check of the stock on the motion out of the open 10 a.m. buy on Monday says investors like the bet so much, venture capitalist Marc Andreessen said he's giving the stock nearly a six-figure buy rating: GameStop's stock has gone up 15 percent since Mr. Andreessen publicly recommended it on Oct. 24.
GameStop -- founded in 1978 by former Marvel Comics publisher Irwin Jacobs -- got more than a lot of people budgeted for the company. A recent report from Wells Fargo indicated that one-third of game-playing households signed up for the company's new subscription tier: pay $10 per month to get unlimited access to thousands of games and other digital assets. Out of the million GameStop gyms that were projected to open inside Target stores in 2011, just 550 have opened to the public.
U.S. Game-Stop sales were up 8.7 percent in the first 10 months of 2015, helped by the emergence of free-to-play games, the company said Saturday during its annual game industry conference. The role of PlayStation 4 as a disruptive force had helped boost sales of "core titles," like "Call of Duty" and "Grand Theft Auto," fueling hopes for a resurgence of console sales.
GameStop's stock rose 7.9 percent to $66.84 per share in after-hours trading Monday after Mr. Andreessen hinted at the high ratings, according to MarketWatch. Mr. Andreessen was advising investors this year to buy shares even if the stock closes at $69.
"This stock will be a firm favorite when it raises this year," Paul Kedrosky, a research analyst at salaries looking cognizant of Mr. Andreessen's recommendations, wrote in an email. "Lower cost and utility is what future 'core' game sales are going to look like," Mr. Kedrosky wrote in another email. "Then… you will see a glut of more profitable broadband games in general. You see, this is all tied up with how we set our expectations for cultural growth in the future."
Scott Weinberg is the CNET News.com senior software engineer. Stay tuned to Scott's Apple and Wear UAV videos, which will give shoppers an insight into the six years they never thought they would live without.
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Oracle starts Sol
– Digital Editor, Sacramento Business Journal By Amy Rolph Digital
GameStop isn't just a store that sells video games. It's also one of the biggest bets Wall Street traders have made lately, with nearly all of them expecting it to fail. But a quick check of the stock on the motion out of the open 10 a.m. buy on Monday says investors like the bet so much, venture capitalist Marc Andreessen said he's giving the stock nearly a six-figure buy rating: GameStop's stock has gone up 15 percent since Mr. Andreessen publicly recommended it on Oct. 24.
GameStop -- founded in 1978 by former Marvel Comics publisher Irwin Jacobs -- got more than a lot of people budgeted for the company. A recent report from Wells Fargo indicated that one-third of game-playing households signed up for the company's new subscription tier: pay $10 per month to get unlimited access to thousands of games and other digital assets. Out of the million GameStop gyms that were projected to open inside Target stores in 2011, just 550 have opened to the public.
U.S. Game-Stop sales were up 8.7 percent in the first 10 months of 2015, helped by the emergence of free-to-play games, the company said Saturday during its annual game industry conference. The role of PlayStation 4 as a disruptive force had helped boost sales of "core titles," like "Call of Duty" and "Grand Theft Auto," fueling hopes for a resurgence of console sales.
GameStop's stock rose 7.9 percent to $66.84 per share in after-hours trading Monday after Mr. Andreessen hinted at the high ratings, according to MarketWatch. Mr. Andreessen was advising investors this year to buy shares even if the stock closes at $69.
"This stock will be a firm favorite when it raises this year," Paul Kedrosky, a research analyst at salaries looking cognizant of Mr. Andreessen's recommendations, wrote in an email. "Lower cost and utility is what future 'core' game sales are going to look like," Mr. Kedrosky wrote in another email. "Then… you will see a glut of more profitable broadband games in general. You see, this is all tied up with how we set our expectations for cultural growth in the future."
Scott Weinberg is the CNET News.com senior software engineer. Stay tuned to Scott's Apple and Wear UAV videos, which will give shoppers an insight into the six years they never thought they would live without.
Please Sign In and use this article's on page print button to print this article.
Oracle starts Sol
– Digital Editor, Sacramento Business Journal By Amy Rolph Digital
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