GameStop (GME) Stock Price Prediction: Buy Now or Stay Away?
GameStop stock (GME) is in the news again as the firm announced the purchase of 4,710 Bitcoins worth $512 million. After the announcement, the stock plunged by double digits in the indices, dipping to as low as 22.82% at one point. It then ended the day’s trading session at -10.85% erasing nearly 3.80 points in the charts.
Also Read: Microsoft (MSFT) Projected to Get $24B Revenue Boom
GME is now at the $31 level, and investors are unable to decide whether to invest in the GameStop stock or ignore it. The equity has always been in controversy for its dramatic price rise and equally dramatic dip that comes after the surge. This makes investors skeptical about the asset as there are huge risks attached to taking an entry position.
Buy or Ignore GameStop Stock (GME)?
Two leading price prediction firms have projected a bearish outlook for GameStop stock. According to both forecasts, GME will only head south in the next 12 months and not move north in the indices. The estimates indicate that GME can erase a major part of investments causing deep losses to traders.
Also Read: Tesla (TSLA) : Morgan Stanley Says Optimus Robot Will Revolutionize This Key Industry
TipRanks forecasts that GameStop stock will slide to $13 in the next 12 months and erase approximately 55% from its current value of $31. All technical indicators also point towards a dip and the majority of Wall Street analysts have called to ignore GME. It’s a significant drop in value and might take years to recover its lost ground and get back in shape.
In addition, StockAnalysis has pained a bearish picture for GameStop stock forecasting that it could fall further. The latest price prediction estimates that GME could fall to the $10 range in the next 12 months. That’s a downturn of more than 65% and an investment of $1,000 could turn into $350. In conclusion, it is best to ignore GME and put the financial resources where it can generate profits.
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GameStop (GME) Stock Price Prediction: Buy Now or Stay Away?
GameStop stock (GME) is in the news again as the firm announced the purchase of 4,710 Bitcoins worth $512 million. After the announcement, the stock plunged by double digits in the indices, dipping to as low as 22.82% at one point. It then ended the day’s trading session at -10.85% erasing nearly 3.80 points in the charts.
Also Read: Microsoft (MSFT) Projected to Get $24B Revenue Boom
GME is now at the $31 level, and investors are unable to decide whether to invest in the GameStop stock or ignore it. The equity has always been in controversy for its dramatic price rise and equally dramatic dip that comes after the surge. This makes investors skeptical about the asset as there are huge risks attached to taking an entry position.
Buy or Ignore GameStop Stock (GME)?
Two leading price prediction firms have projected a bearish outlook for GameStop stock. According to both forecasts, GME will only head south in the next 12 months and not move north in the indices. The estimates indicate that GME can erase a major part of investments causing deep losses to traders.
Also Read: Tesla (TSLA) : Morgan Stanley Says Optimus Robot Will Revolutionize This Key Industry
TipRanks forecasts that GameStop stock will slide to $13 in the next 12 months and erase approximately 55% from its current value of $31. All technical indicators also point towards a dip and the majority of Wall Street analysts have called to ignore GME. It’s a significant drop in value and might take years to recover its lost ground and get back in shape.
In addition, StockAnalysis has pained a bearish picture for GameStop stock forecasting that it could fall further. The latest price prediction estimates that GME could fall to the $10 range in the next 12 months. That’s a downturn of more than 65% and an investment of $1,000 could turn into $350. In conclusion, it is best to ignore GME and put the financial resources where it can generate profits.
Read More