Yes, I know it may come as a surprise to some people but I am actually recommending a stock to short, not buy.
GME seems like a very short target. For one, the chart looks pretty topped out. Lots of distribution in the high $50's.
Second, no one goes into a gamestopcstore where I live. The store is always empty. Maybe just one or two people. In adition ,the store looks pretty boring with no excitement or activity, unlike the AAPL store which is usually full of people.
Third, peopel can buy video games and video game systems from anywhere. Best buy, amazon.com, and so on.
Also, the video game cycle is over. WII, xbobx 360, halo 3, have lready been on the market for awhile. There will be a cooling.
GME seems like a very short target. For one, the chart looks pretty topped out. Lots of distribution in the high $50's.
Second, no one goes into a gamestopcstore where I live. The store is always empty. Maybe just one or two people. In adition ,the store looks pretty boring with no excitement or activity, unlike the AAPL store which is usually full of people.
Third, peopel can buy video games and video game systems from anywhere. Best buy, amazon.com, and so on.
Also, the video game cycle is over. WII, xbobx 360, halo 3, have lready been on the market for awhile. There will be a cooling.