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2021-06-28
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Baird suspends GameStop stock coverage, citing continued Reddit influence and lack of company plan
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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBaird suspends GameStop stock coverage, citing continued Reddit influence and lack of company plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 21:28 GMT+8 <a href=https://www.cnbc.com/2021/06/28/baird-suspends-gamestop-stock-coverage-reddit-influence-lack-of-plan.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Baird is throwing in the towel on GameStop coverage, saying speculative trading by retail investors makes it hard to make “reasonable” recommendations on the stock.\nGameStop made headlines in January ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/28/baird-suspends-gamestop-stock-coverage-reddit-influence-lack-of-plan.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.cnbc.com/2021/06/28/baird-suspends-gamestop-stock-coverage-reddit-influence-lack-of-plan.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1133469064","content_text":"Baird is throwing in the towel on GameStop coverage, saying speculative trading by retail investors makes it hard to make “reasonable” recommendations on the stock.\nGameStop made headlines in January and earlier in June as individual traders flocking to Reddit’s WallStreetBets forum rallied around the meme stock. Shares have surged more than 1,000% in 2021, though the stock has dropped about 6% this month.\n“We are temporarily suspending our rating and price target until the company more clearly articulates new management’s business strategy, which should also allow investors to better assess the company’s intrinsic value and prospects for future free cash flow generation,” Baird’s Colin Sebastian said in a note released Monday.\nBaird recognizes that GameStop is looking to stage a turnaround by shifting focus to e-commerce. Earlier in June, the company named former Amazon executive Matt Furlong as its new CEO.\nHowever, the firm said “share price volatility is tied more closely to non-fundamental trading, social media influences and other factors that make it difficult, at least in the near term, to make a reasonable stock rating recommendation to institutional investors.”\nBefore suspending coverage, Baird held a neutral rating on GameStop and set its 12-month price target at $25.\n“Investors should no longer rely on our prior recommendation or price target when making future investment decisions,” Sebastian said.\nShares of GameStop closed 1.3% lower at $209.51 on Friday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":6,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/150341912"}
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