From the way GME is trading you may get your opportunity this week or next. I bought in the last dip and sold all at a small profit. There are better stocks out there right now that are doubling +. Why buy this and wait for Christmas. Enjoy Christmas now, invest elsewhere.
I would buy at $20. Not sure if it will get that low unless we get a big sell off. GME hasn't traded below $21/share since last month and before that, you have to go back all the way to last December. I bought in around $22.51. I'm satisfied with it. There are definately some negatives views on this stock that is circulating. But hey, that's why GME is trading at such a low valuation and this is a buying opportunity, assuming that GME continues to grow. If GME continues to grow....well the stock should trade much much higher in the future. Really, only time will tell. Looking forward to seeing what will happen.
Don't listen to these clowns. Half of them were screaming buy when this stock was $26 going into last quarters earnings (it lost 20% that day). The market is up HUGE since then, this stock still hasn't seen 26. A single miss in earnings or negativity in the conference call and you will be buying at 21-20 easily, and if the call is good, just buy right then and ride it up, easy enough. This stock will always give you plenty of opportunities to buy/sell/re-buy in a channel. You just have to identify the channel it is trading in and trade accordingly. I think it is at the upper end of its current channel, most of the people on here disagree with me, do your own DD, there is no right answer unless you are psychic. I am simply basing my opinion on actively trading this stock and its historical behavior.
This thing trades in a channel. Start buying at 22.50, buy more as it goes down, unload it when it goes up. If you play on holding it you need to have a long term viewpoint as we are going to have to work our way out of the recession before you are going to see any real breakouts above 26 (my opinion). The long term prospects are cloudy, I think they are good, but I don't like to predict the long term future, too many variables.
"If you have done your homework, any price here is a good entry point if you are a long term investor."
If you have done your homework, any price here is a bad entry point if you are a long term investor.
I fixed that for you.
GME doesn't have a "long term". Five years from now, earnings may be lower than today and in decline, meaning a very low valuation like X*cash.
When the trend is to digital, and 95% of the market goes through platform holders who have every incentive to cut out a middleman like GME and GME has zero chance of getting that business, and publishers have every incentive to destroy the used game market, and GME is already near saturation in the US in terms of store count so earnings growth from store count growth will slow, this is the worst time for any "long term" investor to be buying into this story.
This stock is for traders, long and short if you will, but not investors. It's like investing in BBI before Netflix, or newspapers before the internet.