CHART OF THE DAY: $GME Defies Gravity
Below is a chart and brief excerpt from today's Early Look written by Retail analyst Brian McGough.
|GameStop (GME): Went long at $14 in mid-December with estimates of $2.70 per share vs the Street at ($0.17). We said that fundamentals/console cycle would take this to $25-$35, and that the Board face lift and activist/strategy change put $100 in play. The stock is currently trading above $300 pre-market. This call worked at warp speed, far more than we could have imagined. We’ve since taken it from our Best Ideas list to our Long Bias. More research to come on this one to add some real analytics to an otherwise emotional debate.