GameStop should ditch retail and become a holding company like Warren Buffett's Berkshire Hathaway
It’s time for GameStop to stick a fork in its flailing retail operations and embrace a second life as a holding company in the mold of Warren Buffett's Berkshire Hathaway .GameStop is “a totally different company now,” said retail expert and investor Jeff Macke on Yahoo Finance’s ‘Opening Bid’ podcast .Though he now refers to GameStop as a “dump truck,” Macke's sentiment wasn’t always so chilly. He said he owned its stock five years ago, when it was trading at $4 a share, with the view its operations were being undervalued.Later, he sold the stock for $25 a share.But Gamestop is filled with fundamental woes as of late, which has raised the question if the Ryan Cohen led company is even a retailer anymore.The company continues to be pummeled by structural changes in the video gaming industry — from the switch to digital downloads, to competition for eyeballs with streamers like Netflix , to an aging console gaming base.“Berkshire Hathaway was a failing textile company when Warren Buffe
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