GME Stock Summary and Trading Ideas (Gamestop | NYSE:GME)

GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States.

Gamestop trades on the NYSE stock market under the symbol GME.

As of April 17, 2024, GME stock price declined to $10.30 with 2,014,319 million shares trading.

GME has a beta of 1.80, meaning it tends to be more sensitive to market movements. GME has a correlation of 0.19 to the broad based SPY ETF.

GME has a market cap of $3.15 billion. This is considered a Mid Cap stock.

Last quarter Gamestop reported $2 billion in Revenue and $.22 earnings per share. This fell short of revenue expectation by $-256 million and missed earnings estimates by -$.07.

In the last 3 years, GME stock traded as high as $86.17 and as low as $9.95.

The top ETF exchange traded funds that GME belongs to (by Net Assets): VTI, IJH, VB, VBR, VXF.

GME has underperformed the market in the last year with a price return of -54.1% while the SPY ETF gained +23.0%. GME has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -26.3% and -8.7%, respectively, while the SPY returned +5.7% and -3.5%, respectively.

GME support price is $10.00 and resistance is $10.74 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GME stock will trade within this expected range on the day.