GameStop stock is roaring again

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GameStop
American video game and electronics retailer
Founded
1984, Dallas, Texas, U.S.
Headquarters
Grapevine, Texas, U.S.
Number of Locations
4,413 as of January 2023
GameStop stock has been experiencing significant volatility recently. As of May 13, 2024, at 5:15 PM, the stock price is $30.45, with a positive delta of +12.96. This surge in the stock's price is partly due to the return of Roaring Kitty, aka Keith Gill, who played a significant role in the GameStop stock surge in 2021. His recent online activity has led to speculation and renewed interest in GameStop stock among retail investors. However, it is important to note that the stock's performance has been poor so far in 2024, with factors such as high short interest, options trading dynamics, and market speculation influencing the stock's price. The current P/E (price to earnings) ratio of 122.3x, forecast at 96x for 2025 and 56x for 2026, remains significantly above the industry average, which may be a barrier to entry for institutional investors. The stock has received a consensus rating of sell, based on 0 buy ratings, 0 hold ratings, and 7 sell ratings. The 52-week low for GameStop stock was 9.94, and the current price is 295.77% away from this low. The 52-week high was 38.18, and the current price is 77.00% away from this high. GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates in the United States, Canada, Australia, and Europe, with stores and ecommerce sites primarily under the names GameStop, EB Games, and Micromania. The company also publishes Game Informer, a print and digital gaming publication. In summary, GameStop stock is experiencing a surge in price due to renewed interest from retail investors, influenced by the return of Roaring Kitty. However, the stock's performance has been poor so far in 2024, with a consensus rating of sell, and the current P/E ratio remains significantly above the industry average.
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