{"id":110487,"date":"2021-03-25T00:35:47","date_gmt":"2021-03-25T00:35:47","guid":{"rendered":"https:\/\/fin2me.com\/?p=110487"},"modified":"2021-03-25T00:35:47","modified_gmt":"2021-03-25T00:35:47","slug":"cramer-says-gamestop-remains-overvalued-despite-promising-q4-report","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/cramer-says-gamestop-remains-overvalued-despite-promising-q4-report\/","title":{"rendered":"Cramer says GameStop remains overvalued, despite promising Q4 report"},"content":{"rendered":"<ul>\n<li>&quot;I&#x27;m much more of a believer than I was yesterday, but I also think you&#x27;re taking your life in your hands if you buy the stock up here,&quot; CNBC&#x27;s Jim Cramer said reacting to GameStop&#x27;s earnings report.<\/li>\n<li>&quot;Let it sink to the mid-double digits, then I&#x27;ll get back to you,&quot; the &quot;Mad Money&quot; host said.<\/li>\n<li>&quot;As long as it&#x27;s in the triple digits, it&#x27;s trading like the turnaround has already happened,&quot; he said.<\/li>\n<\/ul>\n<p>CNBC&#x27;s Jim Cramer on Wednesday said there&#x27;s promise in GameStop&#x27;s turnaround story, though he thinks the company remains overvalued after its most recent quarterly report.<\/p>\n<p>&quot;I&#x27;m much more of a believer than I was yesterday, but I also think you&#x27;re taking your life in your hands if you buy the stock up here,&quot; the &quot;Mad Money&quot; host said. &quot;Let it sink to the mid-double digits, then I&#x27;ll get back to you.&quot;<\/p>\n<p>Shares of the embattled video game retailer tumbled 34% on Wednesday, one day after the company posted quarterly results that missed analyst estimates on the top and bottom lines.<\/p>\n<p>The company reported earnings per share of $1.34 for the quarter and revenue of $2.1 billion, a year-over-year decline of 3%. Analysts were expecting $1.35 and $2.2 billion, according to FactSet. Revenue was down 21% for the full fiscal year, which ended Jan. 30, as the company suffered losses amid Covid-19 business disruptions.<\/p>\n<p>Cramer said the results were &quot;about as good as anyone could&#x27;ve reasonably expected,&quot; though he said the stock could have rallied on the report had it been trading at $30 or less apiece, a fraction of its triple-digit share price.<\/p>\n<p>Cramer also faulted management for not providing guidance or offering details about GameStop&#x27;s transformation plan. The company has been reducing its store count and is expected to be working on a plan to boost its digital operations and compete in the internet age.<\/p>\n<p>&quot;As long as it&#x27;s in the triple digits, it&#x27;s trading like the turnaround has already happened,&quot; he said. &quot;If you buy the stock here, you&#x27;re betting that Ryan Cohen&#x27;s plan will be wildly successful, which seems like a stretch given that we don&#x27;t even know what the plan is yet.&quot;<\/p>\n<p>GameStop&#x27;s report was the first since Reddit traders engineered a January short squeeze in the stock. GameStop shares skyrocketed nearly 2,000% within a week.<\/p>\n<p>The stock closed Wednesday at $120.30, down 75% from its peak during the head-turning Reddit rally.<\/p>\n<p>Disclaimer<\/p>\n<p>Questions for Cramer?<br \/> Call Cramer: 1-800-743-CNBC<\/p>\n<p>Want to take a deep dive into Cramer&#x27;s world? Hit him up!<br \/> Mad Money Twitter &#8211; Jim Cramer Twitter &#8211; Facebook &#8211; Instagram<\/p>\n<p>Questions, comments, suggestions for the &quot;Mad Money&quot; website? madcap@cnbc.com<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/03\/24\/cramer-says-gamestop-remains-overvalued-despite-promising-q4-report.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&quot;I&#x27;m much more of a believer than I was yesterday, but I also think you&#x27;re taking your life in your hands if you buy the [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":110486,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cramer says GameStop remains overvalued, despite promising Q4 report - 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