Here’s why the rally in GameStop’s stock may just be the beginning
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GameStop is on the brink of reclaiming its $5 billion valuation once more. GameStop’s stock has surged by 50% since the beginning of May, driven by bullish market sentiment and intense short pressure, leading to a short squeeze. Technical analysis suggests a bullish trend with the crossover of shorter-term moving averages (SMA 50) above longer-term…
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According to GameStop’s co-founder, the company now led by Ryan Cohen needs to reduce its stores footprint in order to succeed in the long term. Co-founder Gary Kusin advises GameStop to streamline operations by reducing its store footprint through layout optimization and increased online sales. Despite challenges, GameStop reported its first annual profit in 2023…