Is GameStop doing good now?
For the full fiscal year, GameStop saw $5.93 billion in sales, down slightly from $6.01 billion in fiscal 2021, and saw increased revenues from its collectibles category, which the retailer is banking will promote long-term growth.
Based on the volatility of GME shares in 2022, we can say that GameStop's retail investors endured an extremely difficult year much better than many expected. So expect GME to flourish again in 2023, especially in the event of growth in the broader market.
Thanks to GameStop's management's cost-cutting efforts and GME's loyal shareholders, it's likely the stock will perform better in 2023.
In 2019 GameStop had $8.29 billion in revenue. That fell to $6 billion this year and its projected to drop to $5.78 billion in 2022. That's not a winning formula. Reddit retail traders are going to continue to buy GME stock.
As of 28 January 2023, the company operates 4,413 stores including 2,949 in the United States, 216 in Canada, 419 in Australia and 829 in Europe under the GameStop, EB Games, EB Games Australia, Micromania-Zing, ThinkGeek and Zing Pop Culture brands.
The stock prediction platform that uses machine self-learning technology projects GME will trade at $140 by March 3, 2028, a 672% increase. Elsewhere, three analysts working on Wall Street have assigned GameStop a consensus 'sell' rating.
The forecaster set a baseline GameStop stock forecast for 2022 of $27.38 by the end of December 2022, up from $25.99 at the time of writing. It further predicted GME could reach $42.47 by the end of December 2023 and close 2025 at $72.54.
Stock Price Forecast
The 2 analysts offering 12-month price forecasts for GameStop Corp have a median target of 13.25, with a high estimate of 20.00 and a low estimate of 6.50. The median estimate represents a -35.94% decrease from the last price of 20.69.
So, can GME stock reach $1,000 per share. It's certainly a possibility given that GameStop's dark pool trading percentage is rather high, according to Stonk-O-Tracker data. Dark pool trading in GameStop has ranged between 30%-50%. This means 30%-50% of short selling has occurred behind closed doors.
GameStop's prospects aren't great as any remaining investors are still reckoning with. It sports a middling 21 IBD Composite Rating. That means its chart and fundamentals only underperform 79% of all companies' And the company is seen losing money in fiscal 2024, ended in January 2024.
How much will GME stock be worth in 5 years?
Based on our forecasts, a long-term increase is expected, the "GME" stock price prognosis for 2028-05-03 is 58.029 USD. With a 5-year investment, the revenue is expected to be around +180.47%. Your current $100 investment may be up to $280.47 in 2028.
According to the Traders Union long-term price forecast GameStop (GME) can reach $68.24 by 2025, $348.66 by 2030, $599.72 by 2034.
| Holder | Shares | Date Reported |
|---|---|---|
| Northern Trust Corporation | 1,897,498 | Dec 30, 2022 |
| Van Eck Associates Corporation | 1,169,758 | Mar 30, 2023 |
| Norges Bank Investment Management | 1,056,783 | Dec 30, 2022 |
| Principal Financial Group, Inc. | 1,002,037 | Mar 30, 2023 |
Still, while GME is not going bankrupt soon, it does not make it a good investment. For one, analysts expect that the company's annual revenue and profits will continue struggling. Expectations are that its revenue will drop to $5.91 billion this year and $5.63 billion in 2024.
Video game retailer GameStop (GME) - Get Free Report currently has very low debt compared to its assets. GameStop's total debt is about $575 million, of which $378 million is long-term debt.
It still faces an existential crisis as digital downloads and e-commerce marketplaces threaten to render its business model obsolete. The broader post-pandemic decline of the gaming industry has made it even more difficult for GameStop to stabilize its business.
The particular decline in GameStop Corp. stock is due to the appearance of a chart bubble following the crisis of 2021.
Revenue rose 25.6% year over year to $1.18 billion. The company still registered a loss at the bottom line, but the shortfall was smaller -- a net loss of $61.6 million versus Q2 2020's $111.3 million net loss, and a $0.85 loss per share rather than $1.71.
If the GME stock price crosses the $40 resistance level in the middle of 2023 and continues to rise at high throttle, Fib retracement reveals that it can be valued at around $65 by the end of 2023. $30, $45, $65 and $85 are some other levels using Fib retracement that are noteworthy.
GME Signals & Forecast
Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gamestop stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal.
How much will GME shares be?
| Close | Chg | Chg % |
|---|---|---|
| $20.69 | -0.19 | -0.91% |
The short volume for $GME is 47.750% on 2023-05-12. The short sale volume is 0.34M, long sale volume is 0.38M. The total volume is 0.72M. The short sale volume is -2% compared to 2023-05-11.
Since GameStop investors kicked off the meme stock frenzy in early 2021, share prices have remained sky high. That's because the GameStop "apes" — as members of meme stocks' cult-like followings are called — are stubbornly holding onto the stock.
The GameStop stock price run-up essentially resulted from a pump-and-dump scheme. In such a scenario, an investor or investors buy heavily into a low-value stock, something that they can get cheaply and in volume. Then they begin a promotional campaign to get other investors buying in as well.
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5.9 B.
| Low | Target Price | High |
|---|---|---|
| 6.50 | 13.25 | 20.00 |
- The all-time high GameStop stock closing price was 86.88 on January 27, 2021.
- The GameStop 52-week high stock price is 47.99, which is 157.3% above the current share price.
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Today, GameStop shareholders were handed a huge win as the shares closed above $300/share for the third time in the company's history.
Depending on the amount of stock shorted, a short squeeze can last anywhere between a few days and a few months. One way to calculate this is through the short interest ratio – dividing a company's shorted stocks by its average daily trading volume.
The intrinsic value of one GME stock under the Base Case scenario is 16.66 USD. Compared to the current market price of 20.68 USD, GameStop Corp is Overvalued by 19%.
How should I buy GME stock?
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| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Best Agrolife | 1007.30 |
| 2. | Raj Rayon Inds. | 50.20 |
| 3. | Authum Invest | 218.70 |
| 4. | Patanjali Foods | 930.90 |
GameStop has 304.72 million shares outstanding. The number of shares has increased by 4.75% in one year.
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Brightcom Group | 14.20 |
| 2. | Man Infra | 88.25 |
| 3. | BLS Internat. | 188.55 |
| 4. | D-Link India | 240.55 |
Stock Price Forecast
The 2 analysts offering 12-month price forecasts for GameSquare Holdings Inc have a median target of 11.50, with a high estimate of 20.00 and a low estimate of 3.00.
Is GameStop a Fortune 500 company? Yes, GME ranks at 464 on the 2020 list of companies | Fortune.
GME Price Live Data
The live GameStop tokenized stock FTX price today is $18.45 USD with a 24-hour trading volume of $7,597.92 USD. We update our GME to USD price in real-time.
Largest shareholders include Vanguard Group Inc, BlackRock Inc., Susquehanna International Group, Llp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, IJH - iShares Core S&P Mid-Cap ETF, State Street Corp, NAESX - Vanguard Small-Cap Index Fund Investor Shares, Susquehanna International Group, Llp, ...
...
BlackRock Inc. ownership in GME / Gamestop Corporation - Class A.
| Security | GME / Gamestop Corporation - Class A |
|---|---|
| Institution | BlackRock Inc. |
| Latest Disclosed Ownership | 21,977,404 shares |
| Ownership | 7.20% |
...
Vanguard Group Inc ownership in GME / GameStop Corp.
| Security | GME / GameStop Corp. |
|---|---|
| Institution | Vanguard Group Inc |
| Latest Disclosed Ownership | 5,931,837 shares |
| Ownership | 7.77% |
Will Robinhood let me sell GME?
Popular stock trading app Robinhood has responded to the GameStop (GME) craziness by allowing users to sell GME, but not buy it. The company claims the change was made due to ongoing volatility.
GameStop Corp appears to be somewhat reliable, given 3 months investment horizon. GameStop Corp holds Efficiency (Sharpe) Ratio of 0.0378, which attests that the entity had 0.0378% of return per unit of risk over the last 3 months.
Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further.
| Report Date | Total Shares Sold Short | Percentage of Float Shorted |
|---|---|---|
| 3/31/2022 | 12,250,000 shares | 19.3% |
| 3/15/2022 | 12,350,000 shares | 19.6% |
| 2/28/2022 | 11,710,000 shares | 18.6% |
| 2/15/2022 | 11,940,000 shares | 19.0% |
GameStop cash on hand for 2022 was $1.271B, a 105.56% increase from 2021. GameStop cash on hand for 2021 was $0.619B, a 23.77% increase from 2020.
GameStop made money in the last quarter of 2022, something it hasn't done in years.
GameStop shares rose by more than 30% Wednesday after the video game retailer reported its first quarterly profit in two years, as shares for other meme stocks popularized during the pandemic, including AMC Entertainment and Bed Bath & Beyond, also increased as a result.
In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers.
GameStop shuts down physical locations
To improve profit margins, the company closed down several physical locations. GameStop was able to control some of the losses by dropping the brick-and-mortar location count from 7,276 at the end of the fiscal year 2017 to 4,573 stores at the end of fiscal year 2021.
Targets for 2022, 2023 and 2025
The forecaster set a baseline GameStop stock forecast for 2022 of $27.38 by the end of December 2022, up from $25.99 at the time of writing. It further predicted GME could reach $42.47 by the end of December 2023 and close 2025 at $72.54.
What price could GME realistically reach?
GameStop Corp (NYSE:GME)
The 2 analysts offering 12-month price forecasts for GameStop Corp have a median target of 13.25, with a high estimate of 20.00 and a low estimate of 6.50. The median estimate represents a -35.96% decrease from the last price of 20.69.
A pump-and-dump scam is the illegal act of an investor or group of investors promoting a stock they hold and selling once the stock price has risen following the surge in interest as a result of their endorsem*nt.
- The all-time high GameStop stock closing price was 86.88 on January 27, 2021.
- The GameStop 52-week high stock price is 47.99, which is 131.9% above the current share price.
- The GameStop 52-week low stock price is 15.41, which is 25.5% below the current share price.
The intrinsic value of one GME stock under the Base Case scenario is 16.73 USD. Compared to the current market price of 20.43 USD, GameStop Corp is Overvalued by 18%.
