GameStop shares slide as Netflix plots streaming video games

Wedbush Securities analyst Michael Pachter discusses meme stock speculation on ‘Barron’s Roundtable’ 

GameStop Corp. shares were under pressure Thursday following a report that streaming giant Netflix is planning to enter the video-game industry. 

A streaming video game service from Netflix would serve as competition for GameStop, which sells video games and related items at its more than 4,000 stores and thorough its e-commerce properties across 10 countries. 

Shares of the Grapevine, Texas-based GameStop fell as much as 5.7% before paring their losses.  

Ticker Security Last Change Change %GME GAMESTOP CORP. 166.82 -0.80 -0.48%NFLX NETFLIX, INC. 542.95 -5.00 -0.91%

Netflix on Wednesday hired Mike Verdu, a former Electronic Arts and Facebook executive, as vice president of game development. 

The company plans to begin streaming video games within the next year, Bloomberg News reported, citing a person familiar with the situation.

GameStop has…

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