GameStop Corp. ($GME) Stock Forecast: Up 5.5% Today

What is GameStop Corp.?

GameStop (NYSE: GME) is a retail company primarily focused on selling video games. The stock has been subject to extreme volatility driven by meme stock trading and social media hype.

Why is GameStop Corp. going up?

GME stock is up 5.5% on Jul 3, 2024 14:01

• GameStop (GME) experienced a strong bullish movement recently amidst negative events.
• The stock surged despite a decrease in the Roaring Kitty stock craze and a class action lawsuit filed against the company for alleged securities fraud.
• The market movement could be attributed to a positive overall sentiment in the market, with major indices like NASDAQ and S&P closing at record levels.
• The shift in focus from meme-driven trading to the company's fundamentals may have attracted some investors, leading to the positive movement in GameStop's stock price.

GME Price Chart

GME News

From Roaring Kitty to Whimpering Kitten: GameStop’s $2.14 Billion Gamble

GameStop (NYSE:GME) may be in the business of selling video games, but it’s been meme fun and games that have driven price action for GameStop stock for quite some time. Most recently, with the “Roaring Kitty” rallies that took shape during May and June. But now, with Keith Gill, the man behind the “Roaring Kitty” persona is now in hot water for alleged stock manipulation. The famed meme trader crawled back into the woodwork. This could mean an end to the recent series of meme waves that have helped to make GME a profitable trade. At least, for those who got the timing right. Once more, focus with GameStop could be shifting back to the company’s fundamentals. Put simply, that’s bad news for investors. With the company’s underlying performance still getting worse, another round of big price declines may be just around the corner.

https://investorplace.com/2024/07/from-roaring-kitty-to-whimpering-kitten-gamestops-2-14-billion-gamble/

GameStop Meme Coin Crashes as Roaring Kitty Stock Craze Dies

GameStop Meme Coin Crashes as Roaring Kitty Stock Craze Dies

https://decrypt.co/238201/gamestop-meme-coin-crashes-roaring-kitty-stock-craze-dies

Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against GameStop Corp. ( GME ) - GameStop ( NYSE:GME )

NEW YORK, July 02, 2024 ( GLOBE NEWSWIRE ) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons and entities who purchased securities of GameStop Corp.

https://www.benzinga.com/pressreleases/24/07/g39607644/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-gamestop-corp-gme

NASDAQ and S&P indices close at record levels

The major US stock indices are closing higher on the day with both the S&P and NASDAQ index closing a record levels. The Dow Industrial Average would also move higher and closer to it all time record high close at 40003.02. The final numbers are showing: Dow Industrial Average average rose 162.33 point or 0.41% at 39331.84 S&P index rose 33.92 points or 0.62% at 5509.02 NASDAQ index rose 149.46 points or 0.84% at 18028.76 The small-cap Russell 2000 rose 3.8 points or 0.19% at 2033.87. Tesla shares rose by $21.40 or 10.20% at $231.26 after reporting higher deliveries. That gain comes after a gain of over 6% yesterday . Other winners today included: Rivian Automotive (RIVN): +6.90% Paramount Global B (PARA): +5.72% AMD (AMD): +4.18% AMC Entertainment (AMC): +3.47% Super Micro Computer (SMCI): +3.08% GameStop Corp (GME): +2.79% Bank of America (BAC): +2.32% Shopify Inc (SHOP): +2.23% Western Digital (WDC): +2.21% Alibaba ADR (BABA): +2.06% Some losers today included: First Solar (FSLR): -3.

https://www.forexlive.com/news/nasdaq-and-sp-indices-close-at-record-levels-20240702/

AMC Shares Are Trading Higher: What You Need To Know - AMC Enter Hldgs ( NYSE:AMC ) , Chewy ( NYSE:CHWY )

AMC Entertainment Holdings Inc. AMC shares have been notably volatile recently. The shares are trading higher Tuesday. Here's what you need to know. What To Know: AMC has been navigating through various significant developments.

https://www.benzinga.com/news/24/07/39606540/amc-shares-are-trading-higher-what-you-need-to-know

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GameStop Corp. Price History

02.06.2024 - GME Stock was up 5.3%

• GME showed a positive trend despite concerns about its outdated business model and overall investment risks.
• Lack of momentum from "Roaring Kitty" and a drop in Chewy's stock value may have initially affected market sentiment.
• The entry of Trump Media & Technology Group into the Russell Indexes could have shifted focus away from GME, leading to more favorable price movements.
• Amid the uncertainty in the crypto market preceding Powell's speech, some investors may have turned to traditional stocks like GME, contributing to its upward momentum.

28.05.2024 - GME Stock was up 6.1%

• GameStop (GME) experienced a strong bullish movement recently.
• The surge in GME's stock price could be attributed to the news that the company has raised enough money to potentially reinvent itself.
• The ongoing meme stock madness and retail investor interest in GME could also be driving the bullish momentum.
• The overall market sentiment towards meme stocks and speculative investments might have contributed to the positive movement in GME.

27.05.2024 - GME Stock was up 6.7%

• Today, GameStop (GME) stock displayed strong bullish movement despite recent challenges.
• The stock has been through significant ups and downs, showcasing the ongoing battle between retail investors and established market dynamics.
• Critiques from experienced traders and worries about the company's operational difficulties have not hindered the upward trend, signaling sustained interest from retail investors and speculative trading.
• The stock's performance today seems linked to renewed optimism and speculative trading rather than fundamental changes in the company's business.

26.05.2024 - GME Stock was up 6.2%

• GameStop's stock displayed a significant bullish trend today, bucking the challenges in its primary video game sales business.
• The surge in the stock can be linked to its interest-earning strategy on substantial cash reserves, offering a financial alternative reminiscent of banking practices.
• Despite cautionary advice from industry veterans regarding the speculative aspects of GameStop's stock, individual investors and meme stock enthusiasts are propelling its value upwards.
• The absence of fundamental drivers and parallels drawn to gambling by certain market professionals underscore the speculative and risky nature of investing in GameStop presently.

26.05.2024 - GME Stock was up 5.8%

• GameStop (GME) had a notable increase in its stock price recently, even amid challenges in its core business segment.
• The stock's rise is linked to its approach of generating interest on its significant cash holdings, essentially acting as a quasi-financial institution.
• The departure of a well-known trader and social media personality has impacted GameStop's recent stock price declines.
• Despite cautionary messages from experienced investors regarding the speculative nature of GameStop's shares, individual investors and meme stock supporters remain influential in its market movements.

25.05.2024 - GME Stock was down 5.3%

• The bearish movement in GME today can be attributed to the resurgence of meme stock trading, particularly GameStop, which has once again captured the attention of investors.
• Discussions around Robinhood's role in the meme stock saga and the potential risks associated with investing in GME may have heightened concerns among traders, leading to a sell-off.
• The cautionary tone in recent coverage, warning investors about the unpredictability and high risk of GME, might have influenced market sentiment, prompting some to exit their positions in the stock.
• The reminder to focus on sustainable wealth-building strategies and conducting thorough research on companies before investing serves as a stark contrast to the speculative nature of meme stock trading, potentially influencing a more risk-averse approach towards GME.

25.05.2024 - GME Stock was down 5.5%

• The decline in GameStop's stock today has been influenced by various factors:
• CEO Ryan Cohen's emphasis on a strategic shift towards profitability through cost reduction during the recent annual shareholder meeting may have instigated apprehensions regarding the company's future outlook.
• The investigation being conducted by Pomerantz LLP on behalf of GameStop investors likely contributed to the prevailing negative sentiment surrounding the stock.
• The intrinsic unpredictability and high-risk nature of GameStop's stock have potentially prompted profit-taking and selling action among investors.
• A comparison drawn between GameStop's fundraising methods and Tesla's executive compensation package has heightened the existing challenges and controversies associated with GameStop as an investment opportunity.

21.05.2024 - GME Stock was down 6.2%

• GME experienced a strong bearish movement today, continuing its downward trend.
• The absence of influencer Roaring Kitty, who has been a key figure in driving volatility in GME shares, may have contributed to the stock's decline.
• Concerns about the risks associated with meme stock investing and the potential for further losses in GME may have dampened investor sentiment.
• The overall market sentiment towards GME appears to be cautious, with warnings about the stock's unpredictability and the advice to approach it with care.

21.05.2024 - GME Stock was up 5.2%

• Despite potential risks and warnings of a downturn, GME displayed strong upward momentum, surpassing market predictions.
• The resurgence of meme stock activity, influenced by Roaring Kitty, likely contributed to the surge in GME shares.
• Varying opinions cautioning against GME while acknowledging its unpredictability suggest the ongoing struggle between retail investors and market forces.
• GME's market behavior underscores the impact of social media influencers and meme-related trading trends, resulting in a tumultuous journey for stakeholders.

20.05.2024 - GME Stock was up 5.6%

• Despite cautions about the risk of following trends blindly and the advice to stay away from hype, GameStop's stock showed significant upward movement.
• The company's CEO, Ryan Cohen, outlined a strategy focused on cutting costs to improve profitability, potentially boosting investor confidence.
• Upgrades to a "sell" rating by one firm and a lowered price target by another did not dampen the positive momentum, underscoring the impact of market sentiment and retail interest on GME's performance.
• Comparisons to meme cryptocurrency FLOKI and speculation about future prices added to the speculative trading environment surrounding GameStop's stock.

20.05.2024 - GME Stock was up 5.1%

• GME experienced a strong bullish movement, possibly fueled by renewed interest from retail investors and social media influencers like Roaring Kitty.
• Speculation on price forecasts and comparisons with meme coins like FLOKI may have contributed to increased buying interest in GME.
• Despite recent price falls and warnings about meme stocks' risky nature, the excitement surrounding GME seems to persist, indicating that market sentiment and online chatter heavily influence its price movements.
• Investors should be cautious with meme stocks like GME due to their speculative nature, which can lead to rapid price fluctuations and potential losses.

18.05.2024 - GME Stock was down 5.4%

• GameStop (GME) experienced a strong bearish movement today, possibly influenced by:
• Lackluster performance at the annual shareholders meeting, where the CEO provided little clarity on the company's future plans.
• The fading buzz around meme stocks, as indicated by the flat movement of GME despite recent attempts to revive interest.
• Uncertainty surrounding the company's Bitcoin strategy, with experts suggesting potential transformation in digital commerce but lacking concrete details on implementation.
• Market concerns over GameStop's focus on cost reduction and profitability without clear elaboration, leading to investor skepticism and selling pressure.