GameStop (GME) Off Lows as Analyst Confident New Game Consoles Will Support Used Games

February 6, 2013 11:47 AM EST
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Price: $23.93 +1.48%

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GameStop (NYSE: GME) is moving off the morning lows, with analyst at Piper Jaffray defending the stock mid-day after earlier reports from the Edge that the new XBox will be exclusively online and will not support used games.

Piper analyst Michael Olson said he is confident the new PlayStation and Xbox will support used games.

Shares last traded at $24.96, down 6.9%, but are off the day's lows of $23.75.

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