GameStop (NYSE:GME) shares have dropped 6.5% after Wal-Mart (NYSE:WMT) discounted multiple top selling games. The price drop is expected to force GameStop to lower its prices for the holiday season. GamStop often overlap proximity to Wal-Mart Stores as the store historically relied on Wal-Mart’s foot traffic, according to a Janney Montgomery analyst quoted in a Bloomberg article.
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GameStop Corp is engaged in the retail sale of video game products and personal computer entertainment software. The company operates 6,207 stores in the United States, Australia, Canada and Europe as of January 31, 2009. The company operates primarily under the names GameStop and EB Games.
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