CandleFocus GameStop in danger: Can GME stock hold the $20 mark?
2024-09-11
Author: Content Editor
GameStop's shares dropped by 15.09% following a Q2 earnings report that revealed troubling figures. While the company beat EPS expectations, revenue dropped 31.9% year-over-year, and adjusted EBITDA was negative. GameStop's stock is now struggling to hold onto the $20 mark, considered critical support. If the stock fails to stabilize, it may face further decline. Analyst Michael Pachter has maintained a "Sell" rating on GameStop, advising investors to exit, citing the company's reluctance to engage with shareholders. Overall, the outlook for GameStop remains uncertain, and investors are advised to proceed with caution.
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