And the slide didn't stop there. GameStop's November started with another 12.5% crash as the company released a weak slate of preliminary third-quarter results. Comparable-store sales are plunging as much as 7% lower, as October's list of new game titles failed to inspire a customer rush. Both revenue and earnings projections took a large hit, and GameStop keeps moving closer to the edge of irrelevance .
The stock is down 53% over the last year at this point. Short of giving up on the physical-retail strategy and becoming an all-digital game distribution hub, I don't know what GameStop's management could do about this terrifying trend.
GameStop has burned about $2.5 billion of market value over the last 52 weeks. Don't catch the falling knife, because there's still plenty of value left to destroy. Next up, GameStop will report third-quarter results on Nov. 22. Frankly, I expect another horror show.
10 stocks we like better than GameStop
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor , has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and GameStop wasn't one of them! That's right -- they think these 10 stocks are even better buys.
Click here to learn about these picks!
*Stock Advisor returns as of November 7, 2016
Anders Bylund has no position in any stocks mentioned. The Motley Fool has the following options: short January 2017 $28 puts on GameStop. Try any of our Foolish newsletter services free for 30 days .