GameStop's used games business is "nearly bulletproof" - analyst

Wal-Mart's entry into the used games business with dedicated kiosks is no threat to specialist retailer GameStop, according to Todd Greenwald, analyst at Signal Hill.

GameStop customers want immediate gratification by trading in their titles for another game, said Greenwald, while Wal-Mart's kiosks will only offer credit days after the initial trade-in.

"While new competition in the used game business is never a good thing for GameStop, we don't believe this proposition poses much of a near-term threat," he said in his latest note to investors.

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