The fate of retailer GameStop has been heavily discussed in 2019 following the news that the company would be shuttering up to 200 stores by the year?s end, among a number of other red flags like letting go of a significant portion of its workforce. After the official name and launch date reveal of the PS5, which is aiming for a holiday 2020 release, the GameStop?s stock has lowered by 5%, highlighting some possible discomfort from investors on the news.
As Senior Analyst at Niko Partners Daniel Ahmad noted, this could be due in part to the fact that investors are now expecting a weaker late 2019/early 2020 for GameStop since the new systems (Xbox included) won?t launch until late next year. Considering it was highly unlikely for the new systems to drop in 2019, the 2020 release window shouldn?t come as a huge shock.
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