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.
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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 .
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