The Rush to GameStop
GameStop Corp. (NYSE:GME) shares came within a dime of hitting a new 52-week high today and its all thanks to an analyst.
GameStop (GME) shares ralled 6.5% today and added another .95% after-hours to close at $25.60.
GameStop holds the crown of the world’s largest video-game retailer and it proved it is still in the game. GameStop has been under pressure by the digital world, a game that NetFlix (NFLX) has hit out of the park.
Today Tony Wible, an analyst at Janney Montgomery Scott LLC went to bat for GameStop in a huge way. Wible cited 10 reasons to buy the company, including increased number of users, digital investments and new game systems.
Volume was screaming on GME today as it the number of shares traded passed 16 million, more than 4 times the daily average.