Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GME stock price declined from its 20-day moving average sliding its price below $18.00.</a> </li> 
 <li> <span>2</span> <a>Earlier this month, GameStop reported its Q2 2023 result, after which the stock mostly experienced bears’ activity.</a> </li> 
</ul> 
<p>GameStop (GME) stock price has followed a bearish trend for the last month that dropped its price over 5%. In the last 1 month, the stock price traded between $16.36 to $19.23. Notably, the 52-week low of the stock was at $15.41, whereas the 52-week high was $34.99. It can be said if bears continue their dominance in the upcoming sessions then GME share may reach near its 52-week low.</p> 
<h2 class="wp-block-heading" id="strong-downward-slide-followed-by-gme-stock-strong"><strong>Downward Slide Followed by GME Stock</strong></h2> 
<p>In the most recent trading session on September 19, 2023, GME stock price traded in between $17.64 to $17.13, whereas the noted closing was at $17.52. However, it showed a 0.17% price decline in a day, which continued the previous bearish trend followed by the stock. Notably, last week GME stock was trading near its 20-day moving average, which has slid more since the beginning of this week.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/vfYOS3cRGrlav2JjmVqRAtmW74d9G15cZ5BWh5dfNjDsQ73WC-WFdl7mhzQwjPnBYh0haVQomfcv5qctlBvxgUGJDR19JgLejdWth7FIYbtRieiz4gcixf9AJx09mb4yNM4iucisW-3AETi_pfuQGuo" alt="GME Stock Price Dropped from its 20-day EMA Earlier this Week"> 
  <figcaption class="wp-element-caption"> <strong>Source: GME/USD by </strong><a href="https://www.tradingview.com/x/hSOxildX/" rel="noopener noreferrer nofollow"><strong>TradingView</strong></a> 
  </figcaption> 
 </figure> 
</div> 
<p>As the above chart shows, due to the bearish market trend since June 2023, the RSI of the stock mostly followed a downward trend. It can also be seen that in the last 3 months, GME share price fell from $22.19 to $17.52.</p> 
<p>In similar industry stocks, besides GME stock, Polished.com Inc (POL) stock price showed a bearish trend with over 4% price drop. On the other hand, Best Buy Co. Inc. (NYSE: <a href="https://www.thecoinrepublic.com/2023/09/10/bby-stock-nyse-bby-price-near-support-zone-rebound-awaits/" rel="noopener noreferrer nofollow">BBY</a>) and Conn’s Inc. (NASDAQ: CONN) have shown a bullish trend as they rose over 1% and 2% respectively in 1 day.</p> 
<p>Furthermore, in the past 3 months, analysts gave a “sell” rating to GME stock. Whereas, they have set their 1-year price target at $14.92, down nearly 14% from the recent closing price of stock. Notably, their maximum estimate is showing at $20.00, while the minimum estimate is at $6.00.</p> 
<h3 class="wp-block-heading" id="strong-q2-2023-highlights-of-gamestop-corp-strong"><strong>Q2 2023 Highlights of GameStop Corp.</strong></h3> 
<p>GameStop Corporation (NYSE: GME), an American video game, consumer electronics, and <a href="https://www.thecoinrepublic.com/2023/08/06/epic-games-unlocking-world-of-gaming-with-brief-description/" rel="noopener noreferrer nofollow">gaming </a>merchandise retailer, has a market cap of nearly $5.34 Billion. Earlier this month, the company reported its Q2 2023 result that states its net income is negative $2.80 Million.</p> 
<p>In Q2 2023, the earnings per share (EPS) was negative $0.03 whereas the estimation was negative $0.14 which accounts for a 78.57% surprise. The revenue for the same quarter amounts to $1.16 Billion despite the estimated figure of $1.14 Billion.</p> 
<p>For the upcoming quarter, the estimated EPS is negative $0.08, and revenue is expected to reach $1.18 Billion. Last year, the revenue of GameStop Corp. reached $5.93 Billion. Out of which, $3.14 Billion came from its highest performing source at the moment, hardware and accessories.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

GME Stock Price Dropped from its 20-day EMA Earlier this Week

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