GameStop is 'Blockbuster all over again," Loop Capital analyst says

Loop Capital analyst Anthony Chukumba said on CNBC that GameStop is "Blockbuster all over again," referring to the movie video chain that went out of business. Chukumba, who dropped coverage of GameStop today, said the stock price has become "disconnected' from the company's fundamentals. The analyst calls GameStop's fundamentals "terrible," noting video games are increasingly being downloaded. As such, gamers do not have physical games to sell to GameStop to rent out, which is its highest margin business, Chukumba told CNBC. Shares of GameStop continue to rally higher, now up 11%, or $72.03, to $137.04 in morning trading.