GameStop Being Defended by Several Analysts Amid Today's Weakness

Shares of GameStop GME are down more than 5 percent heading into Thursday's close following a report Sony SNE may use a patent to block pre-owned games from the PlayStation 4. Janney's Tony Wible said the dip is likely a buying opportunity. BMO's Edward Williams said he would be a buyer of GameStop shares in the low $20's. Lastly, Wedbush's Michael Pachter believes the Sony patent is unlikely to result in widespread blocking of used games. Pachter said the reaction in GameStop shares appears "overblown."