If GameStop Focuses On Its Long-Term Plan, 'The Stock Could Definitely Fly,' Analytics Specialist Says

As GameStop Corp GME prepares to release its earnings results, a long-term plan may be the focus of some investors.

The numbers the company reports aren't as interesting as the long-term outlook, Thinknum co-founder Justin Zhen said Wednesday on CNBC.

GameStop is the original darling of the subreddit r/WallStreetBets as retail investors came together to induce a short squeeze in the stock at the beginning of the year.

Reddit investors are wanting to see GameStop evolve into an e-commerce company, Zhen said.

A Short Seller Joins Benzinga's 'Power Hour' To Talk GameStop. The Rest Is History.

The company appointed Chewy Inc CHWY co-founder Ryan Cohen as its chairman and a pair of former Amazon.com AMZN executives as its CEO and CFO.

Cohen wants the company to start selling more products related to gaming including computer hardware and accessories, TVs, cameras and headphones. This would allow GameStop to maintain its leadership in the gaming industry and enter the computer hardware and general consumer electronics industries which represents about a $2 trillion market, he said.

GameStop In February had one engineer job listing, but it currently has 33 engineer listings, Zhen noted. He expects the company to talk about its longer-term plans on today's conference call.

"In the long-term, if they are successful in implementing part of the plan, and obviously that's a big 'what if,' the stock could definitely fly," he said.

GameStop is scheduled to announce its second-quarter financial results after the market closes today.

GME Price Action: GameStop has traded as high as $483 and as low as $5.87 over a 52-week period.

The stock was up 0.50% at $200 at the time of publication.

Photo: The Focal Project from Flickr.