Why isn't it higher, with so much great news lately?
1. Retail sales are in the crapper.
2. Nintendo now selling refurbished hardware cheaper than GME, like 3DS for $130 compared to GME's $160.
3. PS4 and 720 likely not backwards compatible, which means all of GME's used inventory is about to take a hit.
4. 720 likely always online, which means used sales are at risk and makes it very easy for MS to push content to gamers.
5. Sony and surely MS will be targeting online game sales on their consoles, i.e. taking marketshare from GME.
6. Has GME ever bought its own shares above around the $25 level? In the last few years GME has needed share buybacks to keep flat growth in EPS, will they spend a lot more to buy shares $10 higher than they used to?
7. Macro data isn't bullish, not exactly the best environment to hope customers throw down $500 to upgrade hardware.
On the positive side, we have:
1. The stock has been going up, therefore it must go up forever, like everything else does and this time it's different.
This is the first intelligent post in a while.... it is irrational exuberance at its finest....
I really hope people get sucker punched on this one.... all the upgrades at all time highs... WHERE were the upgrades at 17, at 20, at 25 even.... now at 33+ the stock gets upgraded? Are you kidding me?
This market is irrational... And the pigs will get slaughtered... the bears make money, the bulls make money.... but PIGS get slaughtered....
You never lose by selling early when you have profits already.
the shorts have already been squeezed.... go look at the daily short volume.... they haven't gone anywhere... they just RE-UPPED.... meaning the downside is now very legitimately there... resistance is about to seriously hit and PUSH this back down... when it falls it will fall fast and hard.