It also sells collectibles comprising licensed merchandise primarily related to the gaming, television, and movie industries, as well as pop culture themes. GameStop Corp. was founded in 1996 and is headquartered in Grapevine, Texas. AMC Entertainment Holdings Inc. and the company’s AMC preferred equity units, known as APEs, continued their rally before opening bell on Monday, climbing 12.2% and 11.2%, respectively.
- 3 By Mehnaz Yasmin -Robinhood Inc posted a smaller-than-expected quarterly loss on Wednesday as the brokerage’s margin trading business benefited from rising interest…
- As the company ventures ambitiously into the metaverse, GameStop shares should have three-digit potential in 2023.
- Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate.
- What’s the best reason to hold GameStop shares in 2023?
ImmutableX provides a vast, blockchain-powered marketplace where NFT transactions can be processed very quickly. Therefore, it was smart for GameStop to team up with ImmutableX in order to gain a firm foothold in the emerging metaverse. So, be sure to keep an eye on the $30 level while also monitoring the short interest in GME stock. According to Fintel, the recentshort interest against GameStop was around 53 million shares.
GME Stock: The Case for GameStop Hitting $100 in 2023
Still, GameStop’s brightest moment could be just up ahead. Sure, another round of meme-stock trading could get GameStop’s investors buying again, but it’s a blockchain bet that might really pay off over the coming months. The prospect of a massive short squeeze is exciting, but it’s not something that GameStop’s long-term investors should count on. Instead of relying on hopes and assumptions, stick to the facts — and it’s a fact that GameStop is partnering withImmutableX to provide a non-fungible token marketplace. GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.
It’s rather obvious that hedgies remain in control at this time. As Karl noted, short covering in GME as IWB rose to a resistance level of Monthly R1, then the shorts become less aggressive with the account “not needing” to keep covering. We remain very cautious the shares, but see it as a “risk on” trading opportunity, but that’s it. We hopefully get the shares called away on Friday at $26 as one of my foster care centers would like to give their kids a very special Thanksgiving feast and food costs have increased markedly over this last year of the Biden presidency. David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.
GameStop’s NFT Partnership Could Provide a Powerful Revenue Source
No fill today on the GME Nov 18 $26 C as covered for $1.40. 3 By Mehnaz Yasmin -Robinhood Inc posted a smaller-than-expected quarterly loss on FxPro Forex Broker Review Wednesday as the brokerage’s margin trading business benefited from rising interest… What’s the best reason to hold GameStop shares in 2023?
Going forward, GameStop’s shareholders can monitor the trading volume on the company’s NFT marketplace with ImmutableX. If the data indicates growth, this should provide a significant revenue boost for GameStop. With that, and possibly with the assistance of Reddit traders, GME stock could easily reach $100 in 2023. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate.
Want Better Returns? Don’t Ignore These 2 Retail-Wholesale Stocks Set to Beat Earnings
If this buildup of short positions continues into 2023, the snapback effect of a squeeze could be epic. Yet, short squeezes aren’t the only potential Beaxy Cryptocurrency Exchange Overview catalyst for GME stock. As the company ventures ambitiously into the metaverse, GameStop shares should have three-digit potential in 2023.
However, this shouldn’t be the main reason to stay invested next year. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. Tokenexus Crypto Exchange Review All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
GameStop Corp (GME)
Fellow meme stock GameStop Corp.’s stock rose 2.3% before opening bell, after ending Friday’s session up 4.9%. Movie theater chain and meme stock darling AMC reported its 12th consecutive quarterly loss last week, sending the company’s stock falling 7.7% last Wednesday. As GameStop’s press release explains, “the partnership will allow for 100 percent gas-free and carbon-neutral minting and trading on the Company’s NFT marketplace.” If the metaverse continues to expand and gain traction in 2023, don’t be surprised if GameStop emerges as a leader in NFT-enhanced gaming. As of Friday’s close, Max Pain for Fridays option expiration was tabulated at $26.25. Just noting Max Pain for Friday’s option expiration is now $27.00. Looks like some institutional call sellers showed up yesterday at the $27.50 C strike.