What's Been Going On With GameStop Stock?
Portfolio Pulse from Ryan Gustafson
GameStop Corporation (NYSE:GME) shares have increased over 13% in the past month, with recent gains attributed to retail investor support. The stock has shown resilience against sell-offs, breaking past key resistance in late December to reach levels not seen since September. Despite the rally, trading volume is below average, and the stock's high short interest of 23.68% suggests potential for significant price movements.

December 27, 2023 | 10:09 pm
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GameStop's stock has experienced a significant rally, supported by retail investors. The stock has overcome sell-offs and surpassed resistance, reaching a multi-month high. However, the rally is on below-average volume, and the high short interest rate could lead to future volatility.
The positive momentum and the ability to break past resistance levels indicate a bullish short-term outlook for GME. However, the below-average trading volume could suggest a lack of strong conviction behind the rally, potentially limiting the upside. The high short interest rate increases the risk of volatility, possibly leading to short squeezes if the stock continues to rise, which could further drive up the price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100