Market cap of GameStop Corp. [GME] reaches 11.70B – now what?

GameStop Corp. [NYSE: GME] loss -2.60% or -1.06 points to close at $39.68 with a heavy trading volume of 5213629 shares. The company report on July 11, 2022 that GameStop Launches NFT Marketplace.


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Public Beta Version Live at https://NFT.Gamestop.com.

GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has launched its non-fungible token (“NFT”) marketplace to allow gamers, creators, collectors and other community members to buy, sell and trade NFTs. The Company’s NFT marketplace is a non-custodial, Ethereum Layer 2-based marketplace that enables parties to truly own their digital assets, which are represented and secured on the blockchain. The marketplace, which can be accessed at https://nft.gamestop.com, allows parties to connect to their own digital asset wallets such as the recently launched GameStop Wallet. Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators and other Ethereum environments.

It opened the trading session at $39.75, the shares rose to $40.39 and dropped to $38.8061, the range by which the price of stock traded the whole day. The daily chart for GME points out that the company has recorded 27.74% gains over the past six months. However, it is still -104.54% lower than its most recent low trading price.

If we look at the average trading volume of 12.73M shares, GME reached to a volume of 5213629 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about GameStop Corp. [GME]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GME shares is $13.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GME stock is a recommendation set at 4.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Ascendiant Capital Markets have made an estimate for GameStop Corp. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on April 12, 2021. While these analysts kept the previous recommendation, Telsey Advisory Group dropped their target price from $33 to $30. The new note on the price target was released on March 24, 2021, representing the official price target for GameStop Corp. stock. Previously, the target price had yet another raise from $16 to $29, while Wedbush kept a Underperform rating on GME stock. On January 27, 2021, analysts increased their price target for GME shares from 1.60 to 10.

The Average True Range (ATR) for GameStop Corp. is set at 2.90, with the Price to Sales ratio for GME stock in the period of the last 12 months amounting to 1.91. The Price to Book ratio for the last quarter was 8.30, with the Price to Cash per share for the same quarter was set at 3.51.

Trading performance analysis for GME stock

GameStop Corp. [GME] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.68. With this latest performance, GME shares gained by 12.06% in over the last four-week period, additionally plugging by 27.74% over the last 6 months – not to mention a drop of -2.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GME stock in for the last two-week period is set at 57.25, with the RSI for the last a single of trading hit 56.53, and the three-weeks RSI is set at 56.77 for GameStop Corp. [GME]. The present Moving Average for the last 50 days of trading for this stock 34.78, while it was recorded at 40.15 for the last single week of trading, and 34.93 for the last 200 days.

GameStop Corp. [GME]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and GameStop Corp. [GME] shares currently have an operating margin of -5.96 and a Gross Margin at +21.20. GameStop Corp.’s Net Margin is presently recorded at -6.34.

Return on Equity for this stock declined to -37.40, with Return on Assets sitting at -12.39.

GameStop Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.10.

An analysis of insider ownership at GameStop Corp. [GME]

There are presently around $3,226 million, or 28.10% of GME stock, in the hands of institutional investors. The top three institutional holders of GME stocks are: VANGUARD GROUP INC with ownership of 23,878,960, which is approximately 0.189% of the company’s market cap and around 15.63% of the total institutional ownership; BLACKROCK INC., holding 20,641,296 shares of the stock with an approximate value of $819.05 million in GME stocks shares; and STATE STREET CORP, currently with $269.87 million in GME stock with ownership of nearly 0.952% of the company’s market capitalization.

Positions in GameStop Corp. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 125 institutional holders increased their position in GameStop Corp. [NYSE:GME] by around 6,017,732 shares. Additionally, 122 investors decreased positions by around 9,063,476 shares, while 73 investors held positions by with 66,219,796 shares. The mentioned changes placed institutional holdings at 81,301,004 shares, according to the latest SEC report filing. GME stock had 36 new institutional investments in for a total of 1,103,760 shares, while 48 institutional investors sold positions of 2,111,868 shares during the same period.

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