Standpoint Research Downgrades Gamestop (GME)

Standpoint Research has downgraded shares of Gamestop GME from Buy to Hold. Gamestop (GME) is getting hammered today, after Best Buy BBY reported worse than expected earnings results, and said it is entering the used vide game space, where it will compete with Gamestop (GME). Standpoint analyst, Ronnie Moas said that the shares continue to loos attractive on a valuation basis, but may be a value trap at this point, with GME facing multiple headwinds. During the current trading session, GME has fallen 8.41% to $20.04. Volume in the name has been heavy, with 12.17 million shares trading compared to a daily average of 5.40 million. GameStop Corp. (GME) is a retailer of video game products and personal computer entertainment software.