现金充裕却发债买币惹众怒 Wedbush给予游戏驿站(GME.US)“跑输大盘”评级

Group 1 - GameStop (GME.US) plans to issue $1.75 billion of zero-coupon convertible senior notes due in 2032, with net proceeds intended for general corporate purposes [1] - The company recently purchased 4,710 bitcoins and retains the right to invest further in cryptocurrencies, while holding $6 billion in cash reserves as of the end of Q1 [1] - GameStop's Q1 revenue declined by 16.9% year-over-year, but adjusted net income turned from a loss of $36.7 million to a profit of $83.1 million [1] Group 2 - Analysts express skepticism regarding GameStop's strategy, questioning why investors would pay a premium for the company's potential cryptocurrency investments instead of directly investing in Bitcoin or related ETFs [1] - The only successful business expansion noted by analysts is in the trading card segment, leading to concerns about the company's overall strategic direction [1] - The issuance of zero-coupon convertible bonds may lower financing costs but raises concerns about potential equity dilution, leading traditional institutional investors to withdraw support [2]