Was looking like it was going to make it through, but today instead it went right up to that down trend line and got rejected
Finally started heading south again but bounced off the 50MA/lower BB today and yesterday. Will probably take some down days in the market to push this back down where it belongs. In a world where everybody downloads their games now, this company will struggle more and more.
$GME reports 19% drop in holiday sales. Stock drops almost 10%. Double bottom $20.00 is intra-day buy support.
Looking like that downtrend line is holding. 15-min chart It back-filled the gap from the pre-released earnings. Let's see how much this pulls back.
Broke above my down-trending resistance line a few days ago and has been holding above it. Still bearish on the company and holding this for the long-term.
Be careful shorting this stock. Pays a 6% dividend which is only 39% of last year's earnings. So that dividend can actually be supported even if earnings decline by half. Store has survived a long time so far with declining customers, it can survive a long time more. Not sure how it does it myself.
There was somebody on Reddit asking about this stock the other day. While 6% divi is nice, I think its a big risk that is unsustainable... anybody buying this for the dividend might wake up to find it cut in half one morning. Im a big gamer and absolutely nobody I know goes to GameStop for anything!
Low volume at top of Bollinger Band the last 3-4 days. This is due for a pullback, just drifting up right now.
I'm with the bears as well. The problem with retailers like GME is that they have limited capability to fix this kind of situation. So unless both PS Store and XBONE Store are simultaneously shut down, the stock price will keep falling.
Down over 8% on news that Microsoft will start renting out games, for example, Halo 5 for $9.99 a month. Just one more obstacle for an already challenged company. GameStop shares are tanking after Microsoft unveils a new attack on the used game business Source: http://www.businessinsider.com/microsoft-xbox-game-pass-versus-gamestop-2017-2
Renting games, huh. It would make a lot more sense if contemporary releases were complete and polished. Also, not sure how this will work with all the DLCs.
It'l be good for people who want to sample a game for an extended period of time. Also good for people who like the story mode/campaigns. They can take their time beating it, and move on to the next one. I'll met MSFT makes a lot of money on it since a lot of people don't like paying $60 for a game that only has 10-20 hours of gameplay. I only play multiplayer games that I put 100's of hours into, so this service won't be for me.
I think GME should be shifting more into hardware, they have great deals on 2nd hand ipads and other goodies!
