storm today. Sorry for being rude earlier. I think its safe to say that GME and ELBO have a lot of upside left to them now. Getting through the "tough" holiday season according to those stupid analysts was gonna be difficult but GME and ELBO did it anyway. Now through summer is a great time I think to be in thes stocks. Great game lineup and looming price cuts to consoles mean that this rocket has just lifted off. I would really like to hear from that SWS idiot...batia...or whatever. Same with Joker Jubak. What a bunch of fools. Congrats to LONGS for sticking with this. GOOD LUCK ALL!!! TOMORROW SHOULD MAKE US HAPPY ONCE AGAIN!!! GO GME!!! STRONG BUY!!!
What exactly makes you think this is a good short? It's holding up quite well considering the market and I believe will easily hold over $17 through earnings. There is nothing about this stock in my mind that makes it an attractive short. Sure, if you'd shorted this stock in the past you might make a little money here and there but why take the risk? With fundamentals as good as they are for this company it doesn't take much to send the shares higher. And with 15% already short what happens when the shorts start to cover? Exactly what happened last week. When I short I like to do it with something I feel confident will go down, this company is not worth the risk.
You sound scared.
Peg, GME is not "dead after Christmas." Its highs were in MAY in �02 and OCTOBER in �03. The climb to each began after Christmas with GME working UP 20% in �02 and in �03 UP 75%. What on earth makes you say GME is headed down 46%+? Is it because you are petrified? Certainly, if longs get wiser you�re screwed, look:
4-1-02 GME closed@ $19.05, eps= $0.18, short interest= 7.2% of float
1-8-04 GME today @ $18.57, eps= $0.92, short interest= 14.8% of float
DOUBLE+ the short interest? You underestimate the VG business and GME, which is hugely undervalued having NO DEBT, EPS of $1.06+ this year and $1.20+ next. A seller would be dumb, scared or desperate for money to let you cover with their shares.
Video games and game consoles are going deeper-and-deeper into the mass-market and are integrating into key areas of entertainment like, music, the web and movies and companies all want a piece. For example, SONY is leveraging the success of PSOne and PS2 into the PSX (which is getting PS2 into new homes) and the PSP handheld, which may be the hit of Christmas '04. Plus the upcoming console cuts will push all of the newest consoles even further into the consumer market and serving to boost higher GME�s sales and profits, which I am very pleased with and looking forward to more of.
Fact is you and the other shorts are toast. There will obviously be pullbacks here and there but with 15% of shares traded short, just watch the GME go UP!
How can longs get suckered again. This will be sub 10 before long just like last year. Holiday hype is winding down. Even Wall street cannot start talking about the BS holiday of 2004 until at least June.
Tech is where it's at. Retail is dead after Christmas. Move on.
Interesting that there was no CC. I would expect that GME is confirming that Halo 2 will be delayed and going over the likely release schedule for Q1. I would expect them to raise FY05 guidance and we head to the 20's.