Do You Gamestop?

BraVoCycles Newsletter
June 12, 2024

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Do You Gamestop?

There is a lot of internet chatter about the Gamestop stock, GME. It is a speculative stock. But all this buzz caused me to look at GME, and probably many of you would like to understand what is going on with GME.
Gamestop shops were selling games, and GME was heavily shorted by hedge funds because of a failing business model.
Then, a short squeeze in 2021 propelled the stock from about $1 to $120 (see Figure 1). That is 120 times or 12,000%.
Subsequently, the stock fell to about $10 in April 2024 before spiking again and now pulling back.
My read of the technical chart is that it should pull back more.

Figure 1

Figure 2 shows the daily chart cycle composite, which also suggests that GME can be under pressure for a few months.
Figure 3 shows the weekly chart cycle composite. Long-term cycles suggest an up bias into early 2025, after the pullback in the next couple of months.
Warning: This is no recommendation to invest in GME, just a stock price analysis.
I personally never invest in speculative stocks.
Moreover, there is not enough price history to verify the reliability of cycles. The cycle analysis in speculative stocks may be less reliable than the one of well-capitalized stocks.