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GameStop (GME) Stock – Buy Bitcoin Singapore Now

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The price of GME stock has gone up by more than 2,000% since it broke out of a 19-week consolidation last September. This price increase, though, has been giving up its gains as it makes lower highs. While speculative traders should keep an eye on this stock, investors should be wary of the volatility. While there is a strong underlying uptrend, not all breakouts are successful. The IBD (Institutional Brokerage Data) indicator notes that the stock market is in an uptrend and indicates healthy buying demand from institutional investors.

The company had a poor five-year track record, losing nearly a third of its value. That made its stock a prime candidate for a massive short-squeeze rally. The company’s stock price has soared in recent weeks, and hedge funds have been weighing in on the issue. A popular subreddit, r/GameStop, has recollections of former employees. A popular post shows Mel Gibson as William Wallace in “Braveheart.”

The company’s stock has enjoyed a bullish rally in recent weeks, with the price rising 140% from March 14 to 28. Since then, the stock has dropped 14%, though Wall Street has remained skeptical about its business fundamentals. However, despite this lack of consensus, there are a number of reasons to buy and hold GameStop (GME) stock. The company’s share price has maintained astronomical highs since early 2021.

Another concern for GME stock is that GameStop is poised to lose money in the next few years. As a result, the company’s share price is unlikely to match its business fundamentals. This will be a key indicator to watch over the next several months. GameStop’s business model is expected to undergo a major transformation beyond brick-and-mortar stores. Moreover, it plans to launch an NFT marketplace platform and explore blockchain technology. These developments could prove to be game changers in the long run. Hence, GameStop shares should get more clarity and be priced appropriately.

The most recent uptrend for GME stock is justified by the mixed-bag earnings report. However, GME’s recent performance may not last forever, as it has experienced sharp corrections in the past. In the “meme world,” anything can happen. While investors have argued that the stock is a long-term investment, it has also exhibited a mixed trend of late. And the stock may be due for another bullish breakout.

In fiscal 2022, analysts expect GameStop to lose another $59 million, or 82 cents per share. Revenue is expected to decrease by 4% to $5.8 billion in 2023. While the next-generation consoles are providing a boost to the company’s top line, they are selling at a low profit margin. This is a concern for GME stock fundamentals. The EPS Rating of GME stock, however, remains incredibly low.

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