Gaming the System: How GameStop Stock Surged 1,500% In Nine Months - Slashdot An anonymous reader quotes a report from Ars Technica: Nine months ago, GameStop stock bottomed out at $2.80 a share, a reflection of the myriad problems facing the retailer specifically and brick-and-mortar game retail as a whole.
Full Answer
Could GameStop stock drop to $10 a share?
Analyst consensus suggests GameStop could settle at a price of around $10 a share based on the fundamental health of the business. "There's nothing wrong with GameStop," said Pachter, who has a target price of $16 for GameStop stock. "I'm absolutely convinced they're going to thrive and survive.
Is it worth going to a GameStop store to buy games?
But traveling to a brick-and-mortar GameStop store is a gigantic inconvenience compared to the normal and default way to buy a game, which is to purchase and then download it over the internet from the comfort of your home. All the store has to offer is curation. It depends on your audience.
Is GameStop's long-term health better than last year's stock doldrums suggest?
But beyond the sky-high valuations of recent weeks, analysts also suggest there's some reason to believe GameStop's long-term health is more robust than last year's stock doldrums suggest.
How can GameStop build a successful e-commerce platform?
"If GameStop takes practical steps to cut its excessive real estate costs and hire the right talent, it will have the resources to begin building a powerful e-commerce platform that provides competitive pricing, broad gaming selection, fast shipping, and a truly high-touch experience that excites and delights customers."
How is GameStop stock still high?
The Ape Buzz Continues. Since GameStop investors kicked off the meme stock frenzy in early 2021, share prices have remained sky high. That's because the GameStop "apes" — as members of meme stocks' cult-like followings are called — are stubbornly holding onto the stock.
Should I Buy GameStop stock now?
Gamestop (GME) stock is likely to decline after the current overheated rally. The stock can still be profitable in the long term if revenue growth stays consistent. But investors should avoid buying GME stock due to the high short-term risk.
Who profited the most from GameStop?
One veteran who said he made millions on GameStop was Bill Gross, the retired “bond king” and former star manager at California money management giant Pacific Investment Management Co.
Is GameStop stock still a thing?
GameStop's stock continues to baffle market experts. Investors in GameStop are back on board a volatile roller coaster more than a year after the so-called "meme stock" phenomenon nabbed headlines in early 2021.
Should I sell GameStop stock?
The consensus among Wall Street research analysts is that investors should "sell" GameStop stock.
How much will GME stock be worth?
The Gamestop Corporation stock price gained 0.0853% on the last trading day (Friday, 10th Jun 2022), rising from $128.98 to $129.09....Predicted Opening Price for Gamestop Corporation of Monday, June 13, 2022.Fair opening price June 13, 2022Current price$128.05$129.09 (Overvalued)
Who owns most of GameStop stock?
The Vanguard Group, Inc.Top 10 Owners of GameStop CorpStockholderStakeShares ownedThe Vanguard Group, Inc.7.69%5,871,283BlackRock Fund Advisors6.33%4,828,648SSgA Funds Management, Inc.2.21%1,684,263Geode Capital Management LLC1.04%792,1666 more rows
Who lost money on GameStop stock?
Gabe Plotkin wasn't sleeping. His bets against meme stocks such as GameStop Corp. GME -8.40% were backfiring, and losses at his $12.5 billion hedge fund were mounting. Strangers angry about his wagers were bombarding him with threatening messages and texts.
Who bought GameStop stock?
Chairman Ryan CohenChairman Ryan Cohen snapped up 100,000 more shares in the meme stock, according to a regulatory filing late Tuesday, taking his holding up to 11.9%. The purchase was made through Cohen's RC Ventures LLC Vehicle and takes his holding up to 9,101,000 shares. “I put my money where my mouth is,” Cohen said via Twitter.
How much is GameStop worth now?
But individual investors piled into GameStop anyway in the beginning of 2021. That pushed the stock higher and prompted large investors betting against it to cover their losses. And made the company worth more than $13 billion, which is more than about a quarter of the companies in the S&P 500.
Will the GameStop squeeze happen?
GameStop's share price also went through a large drop in pricing. A short squeeze, one year after GME gained traction on WallStreetBets, is unlikely to happen.
How many shares of GME are left?
Share StatisticsAvg Vol (3 month) 35.24MAvg Vol (10 day) 34.85MShares Outstanding 576.35MImplied Shares Outstanding 6N/AFloat 863.01M7 more rows