GameStop Corp. GME, the original “meme stock” that ignited a social media-fueled trading frenzy, is now sitting at a significant discount compared to its previous highs. Once the favorite of retail investors and Reddit forums, GameStop has recently slipped in value, tempting bargain hunters and seasoned investors alike to take a second look.
In the latest trading session, GameStop (GME) closed at $22.68, marking a -0.22% move from the previous day.
GameStop (GME) closed at $20.54 in the latest trading session, marking a -1.86% move from the prior day.
In the most recent trading session, GameStop (GME) closed at $21.36, indicating a -1.41% shift from the previous trading day.
GameStop's shift to trading cards and partnerships with PSA could offset declining video game sales, positioning it as a national card shop chain. GME's strong balance sheet, with over $4 billion in cash and minimal debt, provides a significant runway for reinvention and new business ventures. The trading card market's growth and synergies with video games offer GME opportunities to host leagues and tournaments and create content, enhancing customer engagement.
In the latest trading session, GameStop (GME) closed at $20.83, marking a -0.38% move from the previous day.
GameStop (GME) reported earnings 30 days ago. What's next for the stock?
GameStop Corp (NYSE:GME), AMC Entertainment Holdings Inc (NYSE:AMC), and Chewy Inc (NYSE:CHWY) have all been popular retail trader plays, especially since Keith Gill (otherwise known as "Roaring Kitty") returned to social media this summer.
GameStop (GME) stock price has moved sideways in the past few weeks as investors reflect on its recent earnings and cash raise. It was trading at $22.48 on Friday, much lower than the year-to-date high of $64.
Michael Pachter with Wedbush Securities has called Gamestop (GME) a bank with the way its leadership has handled money. He questions why people are still buying into the stock, pointing to questionable practices, lack of value, and muted communication with investors.
GameStop Corp‘s GME stock price is up 17.04% year-to-date but down 12.43% over the past month.
Roaring Kitty's reappearance with a large GameStop position in May, helped the share quote to rise from $12 to $60+ in quick order. GameStop's management issued $3.05 billion in new shares during May-June, reshaping the balance sheet with $4.2 billion in cash vs. just $1.15 billion in liabilities. Positive net income and potentially stronger returns on the reinvestment of its large cash holdings could force Wall Street to rerate shares much higher.