Wedbush Not Optimistic that Best Buy can Gain Significant Video Game Market Share from GameStop

“We are not optimistic that Best Buy Co. Inc. BBY can gain significant video game market share against leading specialty retailer GameStop GME,” Wedbush wrote in a recent report. “Despite recent initiatives in video games, GameStop continues to gain market share. “We continue to believe that Best Buy's business strategy of carrying the biggest and best items at premium price points in big retail stores is beginning to age as we see a shift to comparison and online shopping. We expect meaningful long-term sales growth to remain elusive due to its reluctance to lower prices and the continued migration to online shopping.” Best Buy closed Tuesday at $30.13.