Why is GME stock up in after-hours trading?
Investors appear to like the news, sending GME stock up in after-hours trading. This could be due to speculation that meme stocks fans will be piling into GameStop in coming days.
Did GameStop (GME) beat earnings estimates after the bell?
The Grapevine, Texas-based company reported earnings yesterday after the bell. Its results showed an adjusted loss of $1. 86 per share, while analysts were looking for earnings per share of 84 cents. GameStop did however beat on revenue, reporting net sales of $2. 25 billion for the quarter, up 6. 2%. Analysts were looking for $2.
Is GameStop stock dangerously overvalued?
This is because GameStop, like many of its fellow meme stocks, "remain dangerously overvalued and don't generate anywhere near the profits necessary to justify their current valuations." This opinion seems to be shared by Wall Street analysts, who carry a consensus Sell recommendation on GME, according to S&P Global Market Intelligence.
What happened at GameStop’s meeting?
The most anticipated item during the GME’s meeting was the company’s stock split via dividend plan. It’s important to note though, that though the proposal was approved by shareholders, GameStop’s management has not yet made a final decision about the stock split.
Can you still buy GME stock?
There are dozens of brokers offering trading platforms and online accounts, and every broker located in the United States will allow you to buy and sell GameStop stock, as GME is currently listed on the New York Stock Exchange.
Did GME squeeze happen?
In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers.
Is GME still shorted?
GME Is Still Heavily Shorted, A Squeeze Could Be Imminent The number is higher compared to the previous month, when 12.35 million shares were being shorted. A high short interest can of course be related to a company's poor fundamentals.
Should you buy GME stock right 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.
How much did Melvin capital lose on GameStop?
Melvin, which lost nearly $7 billion early last year by betting on stocks like GameStop (GME.
How high can GME short squeeze?
A short squeeze is vigorous and can spike with no warning. This is where you see 100% gains in a matter of seconds and minutes. A short squeeze can even reach 1000% and 10,000% gains.
What is current GME float?
Float percentage of total shares outstanding is the percentage of float shares relative to the total shares outstanding. As of today, GameStop's float shares is 66.90 Mil. GameStop's total shares outstanding is 76.13 Mil. GameStop's float percentage of total shares outstanding is 87.87%.
How many shares of GME are left?
Share StatisticsAvg Vol (3 month) 35.11MAvg Vol (10 day) 33.59MShares Outstanding 576.13MImplied Shares Outstanding 6N/AFloat 863.37M7 more rows
How many shorts are on GME?
GME shares shorted are now 27.13 million.
Will GME go up again?
GME shares nearly doubled to over $300 in four weeks. Fundamentally, little more than a mixed-bag earnings report delivered last week justifies the March 2022 bullishness. It certainly “smells” like another meme-style move higher, which could still be great news for GME investors.
Is GME a strong buy?
The financial health and growth prospects of GME, demonstrate its potential to underperform the market. It currently has a Growth Score of B. Recent price changes and earnings estimate revisions indicate this would not be a good stock for momentum investors with a Momentum Score of D.
Is GME going to split?
GameStop (GME) plans to split the stock in the form of a dividend. The company said the authorization would be used to provide flexibility for future corporate needs.
The GameStop short squeeze was a David versus Goliath battle
What happened to GameStop stock in 2021?
Many touted the tussle between Wall Street firms and retail investors as the David versus Goliath battle and a “democratization” of stock markets. Indeed, acting as a cohort, WallStreetBets members almost led to the demise of Melvin Capital.
GME stock was an epic short squeeze
GameStop stock entered 2021 on a strong note after almost tripling in 2020 amid optimism over its restructuring and the pivot towards e-commerce. However, Wall Street funds weren't too convinced about the rally and went overboard shorting the stock.
GameStop stock continued to plunge
WallStreetBets members pounced on the opportunity and went on a buying spree. The “diamond hands” or the “HODLers” wouldn’t simply sell their shares and as a result, the short borrow fees on GameStop exploded. Left with no option, shorts had to cover their positions at a massive loss.
GameStop continues to fall in 2022
GameStop stock remained volatile with a downwards bias and by the middle of February, it was trading near $40—a fall of over 90 percent from its peaks. However, the stock soared again in March and traded above $200 that month.
