GameStop Pushes Analysts Away With Rock Star Status
[https://finance.yahoo.com/news/gamestop-pushes-analysts-away-rock-174439919.html](https://finance.yahoo.com/news/gamestop-pushes-analysts-away-rock-174439919.html)
**Gerelyn Terzo Tue, June 29, 2021, 11:44 AM**
[**GME**](https://finance.yahoo.com/quote/GME?p=GME)**-1.11%**
[GameStop](https://www.fxempire.com/stocks/gme), which is the engine on the meme stock train, has triggered some more fallout in the investment landscape. Most recently, another Wall Street analyst has jumped ship, pausing coverage on the stock as several others did before him. This time it’s Colin Sebastian, senior research analyst for internet and digital media at Baird.
Sebastian has [reportedly](https://www.barrons.com/articles/gamestop-stock-51624895714) placed a hold on his coverage of GameStop. He had a neutral rating on the stock with a USD 25 price target attached compared to the stock’s current price of USD 210. He blamed the fact that the stock has been trading on social media sentiment instead of its financial condition, interfering with his ability to provide a “reasonable” rating on shares.
In addition to the meme stock influence, there has been frustration about a lack of details surrounding GameStop’s transformation to a more digital-friendly platform. The gaming company, which is known for its brick-and-mortar locations, recently tapped Amazon alum, Matt Furlong, as its new CEO.
Sebastian is not the only Wall Street expert to turn their back on the stock, as the field of analysts has been whittled down to a trio of analysts from nine, as [Barron’s](https://www.barrons.com/articles/gamestop-stock-51624895714?tesla=y) pointed out. Shares of the gaming retailer might be down 1% today, but they have rallied more than 1,000% year-to-date. GameStop has shaved about 6% from its market cap during the month of June.
[GameStop \(GME\)](https://preview.redd.it/tkl91reybb871.png?width=704&format=png&auto=webp&s=b84fc6e75b71b6c3abef344daa0d44a74bb5d95a)
Short Interest
Short interest in GameStop stock hovers at USD 1.76 billion, according to Predictive Analytics managing director Ihor Dusaniwsky. He details that there are more than 8 million shares shorted, with close to 15% of short interest compared to the float.
[SI Shares vs Price\/GME US](https://preview.redd.it/tce6v7c5db871.png?width=680&format=png&auto=webp&s=52027f034e6773f9d2329df87f7a05ce41fcdb6e)
Broker Bluff
Meanwhile, there is some controversy surrounding UK-based trading and investing app Trading 212. Social media is looking for clarity on how the broker is treating GameStop shares.
Based on user [documentation](https://twitter.com/LeslyJP7/status/1409921580310933508) on social media, it appears that Trading 212 is now requiring that users with GME shares allow the broker to lend out the shares or face the consequences. [According to](https://twitter.com/cvpayne/status/1409900950358200321) Charles Payne, who is at the helm of research firm Wall Street Strategies, those consequences seem to include liquidating, or being “restricted to only closing or selling the position.”
GameStop stock appears to be the main target, and users of the platform are crying foul.
This [article](https://www.fxempire.com/forecasts/article/gamestop-pushes-analysts-away-with-rock-star-status-747375) was originally posted on FX Empire
https://www.reddit.com/r/StockMarket/comments/oanm3z/gamestop_pushes_analysts_away_with_rock_star/
