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GameStop Corp. Message Board

  • docz03 docz03 Apr 12, 2013 1:37 PM Flag

    Game Stop to $50s

    Game Stop had a good quarter and hence the short term pop in value, but last time there was a new console cycle GME went up into the mid $50s. Now, same store sales have slowly dropped since then and hence the drop in value, but is there any reason why sales wouldn't pick up again with the new console cycle and take the stock back up to $ 50s again?

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    • let's hope so!

      • 1 Reply to razor_05
      • "but is there any reason why sales wouldn't pick up again with the new console cycle and take the stock back up to $ 50s again?"

        Yes. A number of reasons. But aside from fundamentals impacting the specific nature of their business, the overall market is looking dicey at the moment. The chart is showing overbought and "toppy". Nice pump and dump for those who accumulated before the pump. A few days of distribution, and down she'll go again.

        I shorted today at the close (fully hedged with calls). Simply a short-term, small trade for me. I am certainly not predicting the demise of GME, but between the economy slowly rolling over, a tapped out consumer, and the changing technologies that will impact their business (online gaming / streaming), I wouldn't be too bullish on GME's prospects for the future. If you dig under the headline numbers, they really aren't doing well. Not too badly, but not that well either.

 
GME
44.72+0.63(+1.43%)Jul 23 4:02 PMEDT

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