Thats why it went from 16 to 23. That wasn't all buying. If less than 10 million short shares being covered caused the price to go up almost 50%, imagine what can happen if GME beats Q4 Earnings and raises guidance. There will be 20-30 million shorts trying to cover. Q3 probably won't impact the price a lot unless they disappoint. Then the shorts will be all over it like a pit bull on a pork chop. I have my eyes on the Q4 and annual report. I may turn out to be wrong (wont be the first time), but my feeling is that our physical sales will be better than expected and our digital will be much better than expected, and our used phone sales will also be a pleasant surprise. In fact, they guided for $3.10-$3.30 a share in profit before they started the i-phone sales program. If they can beat $3.30 a share, we could see the mother of all short squeezes.
Yep, and with the new Wii-U coming out and having physical media and low storage space, Gamestop profits are pretty much guaranteed if you can hold this stock until mid-March and enjoy the high dividend until then. Did you guys notice what happened in March 2007 after the first Wii came out? Not only did GME more than double, but it doubled DESPITE a stock 2:1 split! That's like quadruple price action. I'll be VERY happy with a 50% gain, nevermind 400%. :) Shorts don't understand the cyclical nature of this business. It's not bloody Radio Shack! LOL People may say the next gen consoles aren't out yet except Wii U, but I think that's irrelevant, because the Wii outsold both other consoles combined by a 3 to 1 ratio in the US.