Apple announced today that you can trade in your old iPhone for cash.
Gamestop is facing fierce competition from Apple, Amazon, Microsoft (direct selling XBox), and Best Buy. I'll stay on the sidelines for a while. Too much competition
locked in profits. stock is going higher, but I won't be there with it. :( good luck to the longs who stay with it. I don't have enough greed.
Sentiment: Strong Buy
At the bottom of their articles it says that they are Long GameStop. They post those articles to drive down the price so they can accumulate shares.
do you even follow gaming? microsoft won't lower the price of the console because it comes with connect. but giving publishers control over used games means publishers are going to stop used games and lower prices at the same time. it will actually be a win for consumers, a win for publishers, a win for microsoft, and a loss for gamestop, and a loss for sony. I think Sony will actually follow microsoft's lead.
I sold this garbage a long, long time ago.... before all of these splits. I had booked a $1,000 loss, which was my largest loss ever. I bet my original shares are worth less than a buck now. This company basically went bankrupt, but all of these share issuances and splits are hand-waving so no one has to mention the B word (bankruptcy)
I have been buying and selling this stock for a few years... In that time, I made roughly 100% on my investment from this stock. It has treated me well, but I have been on the sidelines the past couple weeks. It is below where I last sold, but I feel like the current outlook is much worse than when I sold, so I think this stock has some drop left in it, and I don't think it will bounce around as much as it has once it finishes dropping.
Future is uncertain
It was $40. I hadn't opened it, so I was sure that I would be leaving the store with my $40 back. Before giving me back my $40, the salesperson mentioned how my membership was about to expire, and he asked if I wanted to deduct a renewal fee from the refund. Not wanting to be suckered, I resisted. Then he mentioned that I saved $40 last year from being a member. So I renewed. Standing in line, I noticed a different game that I had been considering, and asked him if he knew anything about it. He said it had positive reviews. So I bought it. I ended up leaving the store $30 poorer than when I entered.
That, my friends, is why GameStop is going nowhere but up.