GameStop Simply Ignores Its Critics in a Mixed Earnings Report
GameStop (NYSE: GME) surprisingly beat revenue estimates for the third quarter but widely missed analysts' earnings projections. Once again, the video game retailer limited its earnings conference call to just management's prepared remarks and shut Wall Street out from asking any questions.
With any other stock, GameStop's performance would be considered a poor one. Why? Because it is a company trying to engineer a turnaround, seeing escalating costs, burning through twice as much cash as it had a year ago, and offering little to no insight into what it is doing to turn its business around.
Despite that, there's actually a lot to suggest that GameStop just might be able to engineer this reversal of fortune and why I say it's a meme stock that is still a solid long-term pick.
Source Fool.com
