Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gamestop Corporation shares valued at $102,879 were purchased by Cheng Lawrence on Jul 08 ’24. At $24.85 per share, Cheng Lawrence acquired 4,140 shares. The insider’s holdings grew to 69,228 shares worth approximately $1.49 million following the completion of this transaction.
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Also, Moore Daniel William sold 403 shares, netting a total of over 9,443 in proceeds. Following the sale of shares at $23.43 each, the insider now holds 39,252 shares.
Before that, Robinson Mark Haymond had sold 565 shares from its account. In a trade valued at $13,239, the General Counsel and Secretary traded Gamestop Corporation shares for $23.43 each. Upon closing the transaction, the insider’s holdings decreased to 565 shares, worth approximately $1.28 million.
As published in a research note from Wedbush on June 08, 2023, Gamestop Corporation [GME] has been retained to an Underperform and the price target has been revised to $6.20. Analysts at Ascendiant Capital Markets downgraded the stock from ‘”a Hold”‘ to ‘”a Sell”‘ outlook in a report released in mid April. As of March 24, 2021, Telsey Advisory Group has reiterated its “an Underperform” rating for GME. Earlier on March 24, 2021, Wedbush downgraded its rating. Their new recommendation was “an Underperform” for GME stock which previously was a “a Neutral”.
Analyzing GME Stock Performance
During the last five days, there has been a drop of approximately -2.76%. Over the course of the year, Gamestop Corporation shares have jumped approximately 22.70%. Shares of the company reached a 52-week high of $64.83 on 05/14/24 and a 52-week low of $9.95 on 04/16/24. A 50-day SMA is recorded $23.50, while a 200-day SMA reached $18.20. Nevertheless, trading volume fell to 10.35 million shares from 5.22 million shares the previous day.
Support And Resistance Levels for Gamestop Corporation (GME)
According to the 24-hour chart, there is a support level at 20.50, which, if violated, would cause prices to drop to 19.50. In the upper region, resistance lies at 22.48. The next price resistance is at 23.46. RSI (Relative Strength Index) is 45.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.17, which suggests the price will decrease in the coming days. Percent R is at 49.38%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
