The run-up in GameStop Corp.’s GME +5.10% share price this week is adding pressure on the company to deliver a turnaround that can be embraced by more than meme-stock believers.
The launch of a game-streaming service was lauded by analysts as transformative and visionary at the time, but it didn’t succeed. “They were on the right path, but it was too early,” said Joe Feldman, a senior managing director at Telsey Advisory Group, an investment banking and consulting firm. GameStop shut down Spawn Labs more than seven years ago, citing lack of consumer demand.
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