Gamestop Corporation (GME) : Traders are bullish on Gamestop Corporation (GME) as it has outperformed the S&P 500 by a wide margin of 2.56% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.21%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.18% in the last 1 week, and is up 2.95% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
GameStop Corp. is up 12.83% in the last 3-month period. Year-to-Date the stock performance stands at 15.92%. The stock has recorded a 20-day Moving Average of 3.62% and the 50-Day Moving Average is 10.98%.
Gamestop Corporation (NYSE:GME): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.06 and $30.89 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.92. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.72, notching a gain of 1.76% for the day. The total traded volume was 2,164,838 . The stock had closed at $31.17 on the previous day.
Also, In the latest statement by the brokerage house, Bank of America upgrades its outlook on Gamestop Corporation (NYSE:GME). The current rating of the shares is Buy, according to the research report released by the firm. Previously, the company had a rating of Neutral. The rating by the firm was issued on July 11, 2016.
GameStop Corp. is a multichannel video game, consumer electronics and wireless services retailer. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and a Technology Brands segment. The Video Game Brands segments include 6,206 stores, 4,138 of which are included in the United States segment. There are 331, 421, and 1,316 stores in the Canadian, Australian and European segments, respectively. Each of the Video Game Brands segments consists primarily of retail operations, with all stores engaged in the sale of video game systems, software and accessories. Its Video Game Brands stores sell various types of digital products, including downloadable content, network points cards and prepaid digital, among others. They also carry mobile and consumer electronics products, which consist primarily of mobile devices, tablets and related accessories. Its Technology Brands segment includes its Spring Mobile and Simply Mac businesses.