Full Answer
Why did the price of GameStop stocks jump so suddenly?
The company’s stock price has soared this year on rising enthusiasm over GameStop Chairman Ryan Cohen’s reputation and his efforts to orient the company toward e-commerce.
How high could GameStop go?
While GameStop still has upside to $500, traders need to be aware that traditional technical and fundamental analysis has limited use in this type of a situa...
How high will GameStop go?
MyBookie has a prop asking whether GameStop’s stock price will exceed $420 per share by the time April 20 rolls around. The “yes” side of the bet checks-in as a -160 favorite, while “no” pays out at +120. As of now, there is no reason to believe the soars will slow down any time soon.
Why is GameStop stock going up?
GameStop Corp. (NYSE:GME) shares are trading lower Monday alongside other meme stocks. The stock is continuing to slide lower after the company’s quarterly earnings report last Wednesday showed a 30% revenue boost, but a large widening loss-per-share.
What happened
Shares of GameStop (NYSE: GME) were bouncing higher Thursday in noontime trading, rising 3.5% following seven consecutive days of declines, especially following the announcement by Microsoft (NASDAQ: MSFT) that it was acquiring video game giant Activision Blizzard (NASDAQ: ATVI).
So what
The turnaround effort is still in its first stages, though the market has no idea what those plans will actually be as management has played it close to the vest on what the details will be.
Now what
Despite some notable spikes over the past year, GameStop shares have largely trended lower, and shares of the meme stock are down by more than half over the last two months alone.
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What happened
Shares of GameStop (NYSE: GME) were running 5.6% higher heading into noontime trading Monday despite the announcement the video game retailer's chief operating officer (COO) had quit just seven months after taking the job.
So what
Companies strive for orderly executive transitions, and though a sudden departure of a chief executive officer or chief financial officer might be more worrisome, the loss of the COO isn't a minor transition.
Now what
GameStop investors shrugged off the news, possibly because at this point it was old news, which is often why companies release potentially disruptive news on Friday evenings. It gives investors time to digest the report, or at best, forget about it by the time Monday rolls around.
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Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community.
What happened
GameStop ( GME -0.79% ) shareholders beat a flat market this week, with shares soaring 20% through Thursday trading compared to the 0.1% uptick in the S&P 500, according to data provided by S&P Global Market Intelligence.
So what
GameStop and its fellow meme stock AMC Entertainment Holdings had each shed over 30% of their value since just the start of 2022. That slump followed a brutal end to 2021. In fact, heading into this week, GameStop was down 44% since early November.
NYSE: GME
Both GameStop and AMC Entertainment recovered some of that ground over the last few trading days, although GameStop is still trailing the wider market's 5% decline so far in 2022.
Now what
GameStop is far from a thriving business, though. Cash outflow in the third quarter was nearly $300 million. The company is booking significant operating losses as it attempts to pivot into an e-commerce focus while closing unproductive stores.
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