Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>GameStop, once the epicenter of the retail investor revolution led by the enigmatic Roaring Kitty (Keith Gill), has seen a dramatic resurgence in attention.</li><li>Gill, who became famous for his substantial stake in GameStop during the 2021 meme stock frenzy, recently reappeared with jaw-dropping claims of substantial holdings in GameStop and Chewy.</li><li>However, the recent results and financial disclosures reveal a company that, despite superficial improvements, is fundamentally unstable.</li></ul>

GameStop, once the epicenter of the retail investor revolution led by the enigmatic Roaring Kitty (Keith Gill), has seen a dramatic resurgence in attention.Gill, who became famous for his substantial stake in GameStop during the 2021 meme stock frenzy, recently reappeared with jaw-dropping claims of substantial holdings in GameStop and Chewy.However, the recent results and financial disclosures reveal a company that, despite superficial improvements, is fundamentally unstable.

GameStop: The Sinking Ship with a New Paint Job - Should You Board?

<ul><li>GameStop has exhibited a transformative rebound in the challenging retail sector environment over the recent years.</li><li>The efforts to reshape its operational and financial structures have manifested into some noticeable improvements in its financial health and operational strategy, as detailed in recent company reviews.</li><li>GameStop management has successfully navigated through burdensome debt, strained vendor relationships, and a dwindling cash position that marked the beginning of 2021.</li></ul>

GameStop has exhibited a transformative rebound in the challenging retail sector environment over the recent years.The efforts to reshape its operational and financial structures have manifested into some noticeable improvements in its financial health and operational strategy, as detailed in recent company reviews.GameStop management has successfully navigated through burdensome debt, strained vendor relationships, and a dwindling cash position that marked the beginning of 2021.

GameStop Corp.: What Are The Biggest Factors That Give It Any Kind Of Upside? - Financial Forecasts

<ul><li>This is our first report on popular meme stock, GameStop Corporation.</li><li>GameStop's transformation over the past two years is evident in its financial results and strategic shifts.</li><li>In 2021, it faced bulky debt, a diminishing cash balance and strained vendor relationships.</li></ul>

This is our first report on popular meme stock, GameStop Corporation.GameStop's transformation over the past two years is evident in its financial results and strategic shifts.In 2021, it faced bulky debt, a diminishing cash balance and strained vendor relationships.

GameStop Corp.: Initiation of Coverage - Does This Meme Stock Still Have Any Steam? - Financial Forecasts

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

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<li>
<a href="https://www.smartkarma.com/entities/gamestop-corp-class-a" target="_blank" data-smartkarma-citation="entities:13790:1" rel="noopener">GameStop (GME US)</a>  shares have materially outperformed the Nasdaq and S&amp;P 500. GameStop shares fell ~2% YTD vs. Nasdaq (~-19%) and S&amp;P 500 (~-11%). </li>
<li>RC Ventures, controlled by GameStop Chairman Mr. Ryan Cohen, holds a ~12% stake in the struggling video game retailer. The company announced a 4-for-1 stock split in July.  </li>
<li>GameStop reported a record net loss of $158M and burned through ~$311M in cash in 1QFY22. We continue to believe the stock is massively overvalued and see downside potential. </li>
</ul>



GameStop (GME US)  shares have materially outperformed the Nasdaq and S&amp;P 500. GameStop shares fell ~2% YTD vs. Nasdaq (~-19%) and S&amp;P 500 (~-11%). 
RC Ventures, controlled by GameStop Chairman Mr. Ryan Cohen, holds a ~12% stake in the struggling video game retailer. The company announced a 4-for-1 stock split in July.  
GameStop reported a record net loss of $158M and burned through ~$311M in cash in 1QFY22. We continue to believe the stock is massively overvalued and see downside potential. 


RC Ventures Sold Its Entire Stake In Bed, Bath & Beyond. Is GameStop Next?

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

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<li>
<a href="https://www.smartkarma.com/entities/magic-empire-global" target="_blank" data-smartkarma-citation="entities:36219:1" rel="noopener">Magic Empire Global (MEGL US)</a> shares are currently up 45x since its listing at US$4.00 per share on 5 August. Its market cap currently stands at US$3.6 billion.</li>
<li>Just like <a href="https://www.smartkarma.com/entities/amtd-digital" target="_blank" data-smartkarma-citation="entities:36214:1" rel="noopener">AMTD Digital (HKD US)</a>, it is hard to pinpoint the real reason for MEGL’s share price surge. MEGL’s financials are uninspiring and cannot justify the share price ramp.</li>
<li>MEGL has no unique competitive advantage which could justify it's current large premium multiple compared to larger and better-established peers.    </li>
</ul>



Magic Empire Global (MEGL US) shares are currently up 45x since its listing at US$4.00 per share on 5 August. Its market cap currently stands at US$3.6 billion.
Just like AMTD Digital (HKD US), it is hard to pinpoint the real reason for MEGL’s share price surge. MEGL’s financials are uninspiring and cannot justify the share price ramp.
MEGL has no unique competitive advantage which could justify it's current large premium multiple compared to larger and better-established peers.    


Magic Empire Global: More Trick than Treat

United States

GameStop Corporation operates specialty electronic game and PC entertainment software stores throughout the United States, Australia, Canada and Europe. The Company stores sell new and used video game hardware, video game software and accessories, as well as PC entertainment software, and related accessories and other merchandise.

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GameStop (GME US)

GameStop: The Sinking Ship with a New Paint Job - Should You Board?

GameStop, once the epicenter of the retail investor revolution led by the enigmatic Roaring Kitty (Keith Gill), has seen a dramatic resurgence in...

Baptista Research

GameStop Corp.: What Are The Biggest Factors That Give It Any Kind Of Upside? - Financial Forecasts

GameStop has exhibited a transformative rebound in the challenging retail sector environment over the recent years. The efforts to reshape its...

Baptista Research

GameStop Corp.: Initiation of Coverage - Does This Meme Stock Still Have Any Steam? - Financial Forecasts

This is our first report on popular meme stock, GameStop Corporation. GameStop's transformation over the past two years is evident in its...

Baptista Research

RC Ventures Sold Its Entire Stake In Bed, Bath & Beyond. Is GameStop Next?

Our analysis suggests GameStop will soon run out of money as fundamentals have worsened and cash burn accelerated into FY22.

Andrei Zakharov

Magic Empire Global: More Trick than Treat

It is hard to pinpoint the real reason for MEGL’s share price surge. While it is difficult to predict when the share price will reflect...

Arun George

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