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- 1 GME stock price is down about 12% in the recent month, while the analysts showing a selling approach.
- 2 The one-month GME stock analysis did not look bullish, still, its year-to-date share price is up by 0.32%.
GameStop Corp. (NYSE:GME) is a video game retail company that offers games and entertainment products through its e-commerce properties and stores. As GME is a part of meme stocks, they are more or less decided by the mob of retail investors that buy into them. These meme stocks are associated with an internet investing culture.
GameStop made recognition as the first meme stock when RoaringKitty (aka Keith Gill) started analyzing GME stock on his social media platforms in 2019.
GME Stock Analysis
In February, GME stock began its journey with a trading price of $22.01. Then, between the price range of $22 to $24, GME stock continued its performance. In the second week of February, GME stock gave its one-month high at $24.86 and then started declining in its share price. On the same day, GME stock dropped from almost $24 to nearly $21 in the price range.
Following the downtrend in GME stock price, it kept its performance in between the range of $19 to $22. And on February 16th, when Ray Dalio’s Bridgewater hedge fund tripled its GameStop positions along with AMC, GME marked an upsurge at $21.94.
After that, the price slightly slowed down and ended the month with trading at almost $19. GME stock gave one month at $18.93, according to the data sourced from Tradingview.
The above chart shows GME stock performance that seems to be slowing down. Meanwhile, on the last day of trading, GME stock closed at $18.70 with an upsurge of 2.80%.
The market cap of GameStop is currently $5.54 billion. While total revenue of GME for the last quarter was $1.19 billion, and it’s 4.44% higher as compared to the previous quarter. GameStop marked its gross profit in Q3 2022 at $291.60 million, and the net income is -$94.70 million. Meanwhile, estimated earnings for the next quarter are -$0.13, and revenue is expected to reach $2.18 billion. The next GameStop earnings date is March 22nd.
The price target of GME stock by analysts offering 1-year price forecasts for GameStop having a max estimate of $20.00 and a min estimate of $5.00. GameStop reported -$0.31 EPS in Q3 2022, while the estimate was -$0.28.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
