Largest Positive Opening Gaps for GME

How does GME usually behave after a large gap-up move?

Using the 12 largest gap-up moves over the last 3 years in GME stock, the average move was +26.2% with the single largest opening gap of +108.7% occurring on 14-May-2024. Following the opening, GME tended to drift lower to the closing price 58% of the time for an average loss of -3.8%. The following day, GME stock price averaged -0.6% losses, with down moves exceeding up moves. The stock was down 75% of the time in that period one day after these significant gaps. Earnings dates have been excluded from this analysis.

Catalysts

1 of GME's 12 largest moves corresponded with a large gap up in the overall market. 6 of the moves coincided with a company-issued press release.

Open-to-High and Open-to-Low

The largest percentage gain from the open to the high of the day was +43.6% on 13-May-2024, while the biggest drop from the open to the low was -43.4% on 14-May-2024. On average, the GME stock price gain from the opening price to the highest point of the day was +7.5%, and the average drop to the lowest point was -10.8%.

Day Drift Open-to-Close

The best performance in GME stock price from opening price to closing price (referred to as the "drift" for the day) was on 13-May-2024 for a +14.5% gain after the stock gapped up +52.3% at the open. The worst worst return from the opening price to the closing price was on 3-Jun-2024 when the stock lost -30.0% after the stock gapped up +72.9%. Overall in the 12 available observations, the stock drifted lower 58% of the time for an average loss of -3.8%.