GameStop Shares Stung by Amazon Offer

GameStop Shares Stung by Amazon Offer

Gamestop shares fell over 13 percent on Thursday following Amazon’s announcement that it will enter the games trade market.

The North American retail giant saw trading end the day prior at $27.3, yet on Thursday its shares fell as low as $22.42 while rival retail outlet Amazon announced it was going to compete in the pre-owned market.

Some analysts have commentated that the market has overreacted, and that Amazon’s online trade-in scheme is markedly different to GameStop’s swap-in-store system. GameStop CEO Dan DeMatteo told Edge that the real difference between the two systems is that one has “zero” chance of working.

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