GameStop Being Defended by Several Analysts Amid Today's Weakness

Shares of GameStop (NYSE: GME) are down more than 5 percent heading into Thursday's close following a report Sony (NYSE: 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."

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