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GME Stock and Bitcoin Singapore

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GME stock has seen a stellar run in January. The company posted a perfect 99 Relative Strength Rating (RS) on the IBD website, which measures how the stock has performed compared to the average among stocks. Companies with RS Ratings of 80 and higher are considered to be high-quality stocks. In the RS line, the stock’s moves are compared to the S&P 500. In January, GME stock was blue, indicating that the stock was outperforming the market.

The SEC is closely monitoring the stock after it posted large volume changes and elevated short interest. The SEC is also investigating market structure, regulatory framework, digital engagement practices, and payment for order flow. Traders should be aware of the potential for GME stock to move in unexpected directions. Regardless of how you decide to trade GME stock, investors should pay attention to its price chart and consider taking a short position in the stock.

When deciding whether to purchase GameStop stock, keep in mind that the company has a weak track record in the consumer electronics retail industry. Its share price has fallen by 23% since January 2021 and has been categorized as a meme stock by analysts. The company is expected to modernize its business beyond its brick-and-mortar stores, launch a Web 3.0 platform, and explore blockchain technology. These initiatives could be game changers for the business model in the long-term. However, GameStop must provide more clarity on its business model before its share price can match its current valuation.

A big short interest in GameStop shares has paved the way for a rally in GME stock. The stock is currently priced above its 200-day moving average. Its short interest has fallen sharply, but still remains higher than a typical low-single-digit short position. GameStop stock could have a big impact on its market value as it faces an earnings announcement. While GameStop has been hit by bad news, there are some signs that it is poised to hit a high before it makes a low-grade rating.

After a short squeeze, investors are forced to make major adjustments in their portfolio. In late 2019, a WSB subreddit containing millions of users orchestrated a short-squeeze on GME stock. It drove the stock to an all-time high, and the company’s shares became the “Meme Stock” of the subreddit WallStreetBets. The shift in video game sales to online storefronts and failed attempts to sell smartphones were the main causes for GME’s decline.

The outlook for GME stock isn’t encouraging, however. Analysts expect the company to remain unprofitable in fiscal 2022 and lose 82 cents a share in fiscal 2023. While the company’s top line has benefited from the high demand for new gaming consoles, its profit margins are still low. This combination of weak fundamentals explains why GME stock is down 8% in January and has a EPS Rating of 44 out of 99.

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