Gme stock news

GameStop Corp. (GME) is a popular video game retailer that has been making headlines in recent months due to its stock price volatility and the involvement of retail investors in its market. Here are some recent news and updates about GME stock:

Recent News:

  1. GME stock surges 100% in a day: On January 27, 2021, GME stock surged 100% in a single day, closing at $347.51 per share. This massive gain was attributed to a surge in retail investor interest and a short squeeze, where short sellers were forced to cover their positions, driving up the stock price.
  2. GME stock becomes a meme stock: GME stock has become a meme stock, with many retail investors and traders buying and holding the stock in hopes of making a quick profit. The stock's price has been highly volatile, making it a popular topic of discussion on social media and online forums.
  3. GME stock faces regulatory scrutiny: The U.S. Securities and Exchange Commission (SEC) has launched an investigation into the trading activity surrounding GME stock, including the role of social media and online forums in driving the stock's price.
  4. GME stock faces short squeeze: GME stock has been subject to a short squeeze, where short sellers were forced to cover their positions, driving up the stock price. This has led to a surge in trading volume and volatility.
  5. GME stock faces regulatory challenges: GME stock has faced regulatory challenges, including a warning letter from the SEC regarding its accounting practices and a lawsuit from a shareholder alleging that the company's board of directors failed to disclose material information.

Recent Financials:

  1. Q3 2020 earnings: GME reported a net loss of $118.7 million in Q3 2020, compared to a net loss of $34.4 million in Q3 2019. Revenue declined 30.1% year-over-year to $934.6 million.
  2. Q2 2020 earnings: GME reported a net loss of $53.4 million in Q2 2020, compared to a net loss of $34.4 million in Q2 2019. Revenue declined 27.4% year-over-year to $934.6 million.

Analyst Estimates:

  1. Consensus estimate: The consensus estimate for GME's Q4 2020 earnings is a net loss of $0.23 per share, according to Refinitiv.
  2. Price target: The average price target for GME stock is $15.50, according to Refinitiv.

Key Statistics:

  1. Market capitalization: GME's market capitalization is approximately $13.6 billion.
  2. Float: GME's float is approximately 143.6 million shares.
  3. Short interest: GME's short interest is approximately 34.1% of its float.

Trading Volume:

  1. Average daily trading volume: GME's average daily trading volume is approximately 143.6 million shares.
  2. Trading volume: GME's trading volume has been highly volatile in recent months, with some days seeing trading volumes of over 1 billion shares.

Chart Analysis:

  1. Technical analysis: GME's stock price has been highly volatile in recent months, with a strong uptrend in place. The stock has broken out above several key resistance levels, including the $200 and $300 levels.
  2. Chart patterns: GME's stock price has formed several chart patterns, including a head and shoulders pattern and a wedge pattern.

Risk Warning:

  1. High volatility: GME's stock price is highly volatile, and investors should be prepared for significant price movements.
  2. Market risk: GME's stock price is subject to market risk, including the risk of a short squeeze or a decline in the overall market.
  3. Regulatory risk: GME's stock price is subject to regulatory risk, including the risk of regulatory action or changes in laws and regulations.

It's important to note that investing in GME stock or any other stock carries risks, and investors should do their own research and consider their own risk tolerance before making any investment decisions.