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Fly News Breaks for June 5, 2019
GME
Jun 5, 2019 | 08:05 EDT
Loop Capital analyst Anthony Chukumba lowered his price target on GameStop to $7 and kept his Hold rating after its "weak" Q1 results that showed sales declines in the company's "crucial" new video game hardware, software, and pre-owned game product categories. The analyst adds that GameStop's deteriorating profitability and eliminated dividend payout signal the management's lost confidence in the company's ability to generate cash flows.
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