GME Stock Price, Analysis & Earnings Preview
The GME stock is making a strong comeback. Investors are taking risks. The price went up to $24.57. This hasn't happened since March 22nd. Overall, the stock has gone up 58% from its lowest point this year.
This week, all eyes will be on GameStop's share price. They're set to release their financial results on June 7th. The video game industry's recovery is a big concern right now.
US videogame sales fell for the second consecutive month in April. Sales went down by 5% to $4.12 billion. This is 2% less than the same time last year. GameStop should pay attention to these figures as they work in the video game industry.
Good news - hardware sales went up! PlayStation 5 is now the top seller, with Nintendo Switch not too far behind.
GameStop's earnings for Q2 are expected to be around $1.38 billion, which is lower than the previous quarter's $2.2 billion. But it's normal for sales to go down after the fourth quarter. The upcoming report will match last year's Q2 earnings.
GME stock jumps when profits are good. In March, it made a 16 cents profit per share. The stock went up by 50% because of this. News and profits will affect the stock's reaction.
The company has a good balance sheet which makes it different from other meme stocks. It has more than $1.39 billion in cash and short-term investments. Besides, it doesn't have any debts except for a low-interest unsecured term loan. This loan is a result of France's response to the Covid-19 pandemic.
Predicting GameStop's Stock Price
Here is the GME chart by TradingView. The chart shows the current price of GME. TradingView is a platform to track stock prices. GME is the stock symbol for GameStop. The chart provides information on how the stock is doing. It gives an idea of whether it is increasing or decreasing. This information can help investors make decisions. Investors can use the chart to monitor the stock's performance. They can also use it to predict future trends. Overall, the TradingView chart is a useful tool for investors.
Looking at the chart, we can see that GME's price has been increasing a lot lately. Now, it's at a key level of $24.40. This is the highest it's been in February. The stock is also above the 50-day moving average. Plus, the MACD is above the neutral point.
The company is going to publish its results. There are two scenarios that could happen. The first is good and the stock price will go up to $30. The second is bad and the stock price will go down to below $20. It all depends on the report.
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Your money is not secured. You may lose it. Be cautious with your investments. They come with a risk. Make sure you understand the risks before you invest any money.
