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GameStop Corp (Extended Hours)

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GME trade ideas

3years chart with a huge falling wedge.After three years of bearish movement the ticker of GME has technicaly built a solid falling wedge at a price that the fundamentals can be concidering as solid to the price of the ticker. the target price of this falling wedge is at arround 80$,we can say that this is a mini squezzzeee. Can an event to make the price to move in that price levels? I dont know what kind of an major event can cause that movement. Based on my TA i strongly believe that the price action will be bullish. I dont recomened to anybody else to go with me and my opinion based on my TA unless you have done your TA and research on this very unique,based on the events,ticker.
NYSE:GMELong
by jumpall44
4
The Boulevard of Broken Dreams. Pump and Dump Part IIRecently we watched in the news the resurrection of the "Meme Stocks" frenzy and the "Roaring Kitty" username. Those who witnessed the first surge in stocks like NYSE:AMC , NYSE:GME , NYSE:BB , etc., remember those were basically a "Make me Rich quick" kind of event, they were known as "Meme Stocks" because it all started as memes by a group of traders in internet forums who allegedly went against the Wall St. Hedge Funds who were heavily invested in shorting these stocks, by buying all at the same time and triggering a strong short squeeze. Well, this event was the hope for this group of traders who saw the opportunity to pocket huge profits in a short time frame, and it gave them the sense of power against Wall St. That time these stocks were heavily shortened, and they were prone to an aggressive short squeeze, not only from these member of the meme stock traders, but by professional traders. At the end of the day this group of stocks spiked, the people took profits, they left the market, some richer, some poorer, and others as bag holders. All these stocks faded along the time and some even went bankrupt. This event was imprinted in the memory of those hoping that this could happen again, but most amateur traders don't take the time to actually learn to trade, they ran with the rumor again after a fuzzy post by the "Roaring Kitty" and they just grabbed whatever was being mentioned in the forums. This time however it was very different. Their behavior was predictable and the professional traders already had a plan in advance, to short the spike. The small buying power of the meme stock traders plus their inexperience in swimming with professional sharks just turned them into an easy morning lunch. The rumor, action and shorting cycle was very fast. In the chart we can see outstanding profits in the order of hundreds of percentual points. But if we take a look at the short sale volume, we notice that the spike was immediately extinguished. The #VolumeCandles feature of Trading View is an excellent tool to visually pinpoint the development of this pump and dump event. In the chart I added some more stocks which were rumored in the forums, NYSE:GME , NYSE:AMC , NASDAQ:KOSS , NYSE:OKLO , NASDAQ:FFIE , NASDAQ:GWAV , $CRKN. The symbols used to display the short volume were: FINRA:GME_SHORT_VOLUME FINRA:AMC_SHORT_VOLUME FINRA:KOSS_SHORT_VOLUME FINRA:OKLO_SHORT_VOLUME FINRA:FFIE_SHORT_VOLUME FINRA:GWAV_SHORT_VOLUME FINRA:CRKN_SHORT_VOLUME All of them have the same pattern, Rumor in the meme stock forums Frenzy buying Immediate huge short volume The takeaway of this presentation is, never fall for what others "rumor" in forums, trade following your own system, your money and your profit/loses are just yours, so the responsibility to plan your trade. Buying and selling shares in the stock market is very easy, trading is not, and they're definitely not the same. #LearnToEarn.
NYSE:GMEEducation
by Madrid
4
GameStop Stock Evokes Dreams of Rocket Ships and Diamond HandsShares of the video game store tested retail traders’ survival skills. But the meme stock madness also bamboozled the pros. In the span of just a few regular trading sessions, with some stomach-churning pre-market action in between, GameStop once again made headlines. Roughly three years ago, Keith Gill — known as “Roaring Kitty” on the internet (mostly Reddit) — triggered a huge rally in the shares of a little known video game retailer called GameStop NYSE:GME . The Hidden Gem Roaring Kitty took a big long position in GameStop for his belief that it was a company with a lot of potential. And at the same time, he blamed the big bad hedge funds for keeping a lid on share-price growth by shorting the living thing out of it. Mr Kitty’s thesis caught the attention of fellow retail traders on Reddit’s r/WallStreetBets chat board, a place where self-described “degens” exchange fast-churning trading ideas. Soon after, shares were flying high, riding on gains of more than 2,000%. GameStop was set free and institutional investors got smoked. These were the good old days of speculative pumps and the absolute power of like-minded individuals seeking the thrill of quick profit and adrenaline rush. And — it seems — we’re back at it again with the meme stock corner going fully bananas. Roaring Comeback Roaring Kitty’s X account switched the lights on after three years of silence. In a rather vague post, he published a drawing of a man leaning forward . Boy, did that get understood in all the possible ways. Shares took off by as much as 75% a day after that post went live. A breakneck rally went on for a few more days, evoking dreams of rocket ships and diamond hands. A week later, none of that is there anymore. Shares are not only back where they were before the surge — they’re doing worse. The rollercoaster ride lifted the stock from $20 on Monday to $80 on Tuesday, a 300% pop per share. By Friday, shares had briefly dipped below $20, pulling off a boomerang move and erasing 75% from the stock’s weekly peak. And, this is how GameStop tricked retail investors into believing that this the GameStop rally 2.0. But, before that, it smacked professionals with huge losses on the way up. Same Old, Same Old Professional money managers had borrowed about 30% of all shares outstanding for — you guessed it — shorting purposes. The thing with shorting a stock, i.e. profiting from its decline, is that if you’re wrong, you can be wrong until your account is wiped out because shares could rise indefinitely. GameStop short sellers were ironed out. They lost more than $2 billion in just two days, according to data analytics firm S3 Partners. “After being down $862 million in mark-to-market losses yesterday, NYSE:GME shorts are down another $1.36 billion in mark-to-market losses today,” S3 Partners’ Managing Director Ihor Dusaniwsky commented on X . If only there was some similar experience in recent history that would inform hedge funds: Not to bet on a red-hot stock, popular among the retail crowds, because you’ll get burned if they come after you with a short squeeze. Not to bet on a red-hot stock that’s thinly traded, because you won’t be able to easily get rid of your short position that’s draining your funds. After all, they did make a movie ( “Dumb Money” ) about shorting GameStop. Yet, “smart money” did it again. Professional hedge funders weren’t the only ones to get knocked. What Goes Up Must Come Down The retail trading army on Reddit and X lost some serious cash, too. Just when shares were going in the other direction. Redditors on r/WallStreetBets initially cheered the first rays of the powerful upside swing. This sparked hopes of a revival before these same guys started flooding the board with screenshots of mounting losses as shares were nosediving. What Happened and Why the Fast About-Face? Other than the super frothy state of the highly inflated stock, what helped shares come back to earth was GameStop’s securities filing to sell some equity. Apparently, the C-suite of the video game store figured they could ride out the surge and issue up to 45 million shares that would dilute the number of existing shares by as much as 15%. In another price-damaging filing , GameStop said that it expects net sales for the current quarter to land between $872 million and $892 million. The forecast is well below last year’s $1.237 billion and the consensus views for $1.045 billion. With that said, GameStop shares are still in the green for the year, following the head-spinning trip to the moon and back. So, until next time? We Want to Hear from You! Let us know about your experience with that volatile beast! Do you own shares, when did you buy, and are you optimistic about the future of GameStop?
Editors' picks
NYSE:GME
by TradingView
30
GameStop adds $800+ million in fresh capitalAt one point this week, GameStop was up some 265% from Monday to Wednesday. That's 48 hours of trading, up 265%, and on rather large sums of volume at a $10+ billion market cap. This is real money, fast money and that's why it's hard to ignore such price action. While many traders made and lost money on this hype trade, there is one group that played it brilliantly: GameStop itself. Once the dust had settled, GameStop announced a new shelf offering to sell some its share to add cash to its balance sheet. How much cash? They now have the right to sell up to 45 million shares and at $20 per share, that's $800,000,000 in new capital to shore up its balance sheet. $800 million. If the shares go back on the move, that number could easy go back above $1 billion. So who won after the frenzy was over? GameStop. Their balance sheet is about to get that much stronger with the latest cash infusion.
NYSE:GME
by scheplick
2
GME The Bull Case it's starting to feel a little Squeeze!There exists a short term and long term bullish case for GameStop. Fuelled by the last short squeeze this company has a strong cash position thanks to investors buying up new share issues and is poised to begin turning a profit in its retail division thanks to store closures. Patience may be required to see these consolidations begin to take effect and the company is likely to post another loss during earnings season. Potentially 70% of the float are currently being held by insiders, institutions and a community of angry APES who refused to go away. One source says this community of Apes has switched shares to the Direct Ownership category effectively blocking 28% of the float from the hands of the short sellers. Yet, for some reason as of the end of April short interest was 27.73% of the float. This development if true is unbelievable. What we might be witnessing with substantial increases in volume the past few weeks is the beginning of round 2 of this David vs Goliath battle. Unable to yield to the power of the community these brazen hedge fund managers have set themselves up to be taken down yet again. If the bullish falling wedge breakout indicated by the circle plays out we’re about to see a spike higher soon. I’m in and it’s on like Donkey Kong!
NYSE:GMELong
by WavesPatternsCandlesIndicators
2
GameStop’s Stock Price Plunges About 20% After Meme Stock Surge GameStop's stock ( NYSE:GME ) price dropped about 20% after a meme stock surge by investor Keith Gill. The company announced plans to sell new shares and lower its sales forecasts, causing the stock to fall back to Earth. GameStop ( NYSE:GME ) now expects first-quarter sales to range between $872 million to $892 million, significantly lower than the $1.24 billion it made in the same quarter last year and below analyst estimates of $1 billion. The video game sector has lost steam since the start of the pandemic, and there are no near-term catalysts in sight for GameStop ( NYSE:GME ). Analysts believe that the issuance of new shares makes sense, as it raises the company's cash reserves while sales continue to fall. However, they remain pessimistic about its long-term future. Michael Pachter of Wedbush believes that GameStop ( NYSE:GME ) cannot "save its way to prosperity" and expects the mix of software sales to continue to shift to digital and away from physical. He believes that GameStop ( NYSE:GME ) will see continuing sales declines next year as well, and the company must deploy its cash productively or hope to issue more shares at elevated levels to forestall the inevitable. The surge in GameStop shares ( NYSE:GME ) came after Gill resurfaced online, posting an image of a man sitting forward in his chair, a meme that gamers often use when things get serious. Since the earnings preannouncement by GameStop ( NYSE:GME ) and the company's decision to sell additional shares, he has posted 17 additional memes, indicating he plans to continue supporting the company.
NYSE:GME
by DEXWireNews
6