GME STOCK FORECAST: $GME Rises, however volatility continues because of GameStop Stock Split





GME STOCK FORECAST: $GME Rises, however volatility continues because of GameStop Stock Split
Lafayette, US – December 27, 2016: GameStop Strip Mall Location. GameStop is a Video Game and Electronics Retailer IV

GME Stock Forecast: Short-term forecast is to Sell the stock

Today Overall Outlook is Neutral

2 Analysts

GME Latest Price

Share Volume 4.25 M
Forward P/E 1 Year -22.65

GME Stock Forecast: Momentum Summary

Momentum Indicators Indicator direction
Overall Neutral
1. Market Data Negative
1a. Price Higher
1b. Technical Indicators Sell
1c. Volume Lower
2. Crowd’s Wisdom Marginally Positive
2a. Google Search Volume Higher
2b. Net Sentiment Steady

GME Stock Forecast : Technical Analysis

GME Stock Forecast : CrowdWisdom360-Insights

  • GME announced its next quarterly earnings report on March 21, 2022. Analysts predicted $0.78 earnings per share (EPS), with year-over-year EPS growth of -$1.77 in 2022 and -$0.82 in 2023. For the two years, these values reflect EPS increases of 17.30% and 53.70%, respectively.
  • With a low of $2.15 billion and a high of $2.38 billion, revenue is expected to be $2.25 billion. In comparison to the same quarter a year ago, the consensus prediction has sales growth narrowing down to 6.10 percent.
  • Chairman Ryan Cohen purchased a total of 100,000 shares of Gamestop, increasing his ownership to nearly 12%. This act caused a hike in GME shares.
  • With the aim of launching a NFT marketplace, Gamestop partnered with Loopring and used their Layer 2 Technology. The users will benefit from the low gas cost and high security level.
  • Being a meme stock, Gamestop has managed to capture attention of various Reddit platforms resulting in increase of stock price.
  • Gamestop announced that they will be splitting their stock. They want shareholder approval to expand the amount of Class A common stock from 300 million to 1 billion shares. Right after the stock-split news, the shares of GME fell.
  • The annual shareholders meeting for discussing the stock split may likely be held in the month of June.
  • Gamestop has launched their own wallet for Cryptocurrencies and NFTs (Non-Fungible Tokens). According to GME, the new wallet feature can be added as an extension on the browser. Gamers can now store, send and receive NFT and Crypto without having to leave their web browser screen.
  • GME’s new wallet is a hot topic on platforms like Reddit and Twitter.
  • Gamestop also has another upcoming development in the NFTs zone. They are planning to launch a NFT marketplace by the second quarter of this fiscal year.
  • Currently the short-term recommendation is to sell this stock.

Also Read: Docusign Stock Forecast

Read: Best EV stocks to buy in 2022

GME Stock Forecast: Google Trends

The search trend for GME has been fluctuating for the past few days. Currently, it is higher compared to 24 hours ago. A downward shift can be expected in the next few hours.

GME Stock Forecast: Latest Videos

YouTube video

GME Stock Forecast: Latest Tweets

GME stock forecast

Rakesh Atla

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.



Source link

Leave a Reply

Your email address will not be published.