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What’s the $23 Billion GameStop Really Worth? Maybe $2 Billion
- Stock ‘is completely disconnected from GameStop fundamentals’
- Value of ailing retailer approaches that of Delta Air Lines
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With GameStop Corp. soaring once again to record highs on Wednesday, sending its market value above $23 billion, the ailing video-game retailer is now worth nearly as much as Delta Air Lines Inc. and more than Kellogg Co.
This is a company that some analysts essentially wrote off a year ago, that has been shuttering hundreds of stores, that has struggled for years to regain relevance in the era of Amazon.com Inc.