Why GameStop Corp’s (GME) Stock Is Up 22.80% (2024)

Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate GameStop Corp before investing.

In this article, we go over a few key elements for understanding GameStop Corp’s stock price such as:

Before we jump into GameStop Corp’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

GameStop Corp. offers games and entertainment products through its stores and e-commerce platforms. The Company operates in four geographic segments: United States, Canada, Australia and Europe. Each segment consists primarily of retail operations, with the significant majority focused on games, entertainment products and technology. The Company has a total of approximately 4,169 stores across all of its segments: 2,915 in the United States, 203 in Canada, 404 in Australia, and 647 in Europe. Its stores and e-commerce sites operate primarily under the names GameStop, EB Games and Micromania. Its Australia and Europe segments also include approximately 49 pop culture themed stores selling collectibles, apparel, gadgets, electronics, toys and other retail products for technology enthusiasts and general consumers in international markets operating under the Zing Pop Culture brand. The Company's brands also include its print and digital gaming publication, Game Informer magazine.

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As of June 11, 2024, 4:00 PM, CST, GameStop Corp’s stock price was $30.49.

GameStop Corp is up 22.8% from its previous closing price of $24.83.

During the last market session, GameStop Corp’s stock traded between $23.06 and $29.34. Currently, there are 305.70 million shares of GameStop Corp stock available for purchase.

GameStop Corp’s price-earnings (P/E) ratio is currently at 305.8, which is high compared to the Retailers - Computer & Electronics industry median of 104.9. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

GameStop Corp’s (GME) price is currently up 31.76% so far this month.

During the month of June, GameStop Corp’s stock price has reached a high of $48.00 and a low of $22.79.

Over the last year, GameStop Corp has hit prices as high as $64.83 and as low as $9.95. Year to date, GameStop Corp’s stock is up 65.17%.

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Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of June 10, 2024, there was 1 analyst who downgraded GameStop Corp’s stock and 1 analyst who upgraded over the last month.

Additionally, you'll want to evaluate GameStop Corp’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on GameStop Corp’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

GameStop Corp’s current valuation based on AAII’s Value Grade is a F, which means it is considered to be Ultra Expensive.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about GameStop Corp (GME) by visiting AAII Stock Evaluator.

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of June 10, 2024, GameStop Corp has a weighted four-quarter relative price strength of 14.10%, which translates to a Momentum Score of 91 and is considered to be Very Strong.

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As of June 11, 2024, GameStop Corp’s stock price is $30.49, which is up 22.8% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like GameStop Corp stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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