Shares of Gamestop Corporation (GME) Sees Large Outflow of Money

Gamestop Corporation (GME) : The value of composite uptick trades was $7.27 million, whereas, the value of composite downtick trades was $9.51 million. The uptick to downtick ratio stood at 0.76 with a negative money flow of ($2.24) Million during Wednesdays trading session. The block trades money flow was negative ($1.59 million). The transaction of the trades on downticks amounted to $1.59 million, which confirms investors selling on the strength of price. Gamestop Corporation (GME) gained 62 cents at $30.81, an increase of 2.05% over the previous days close.


Also, In a research note released to the investors, Bank of America upgrades its rating on Gamestop Corporation (NYSE:GME).The analysts at the brokerage house have a current rating of Buy on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on July 11, 2016.

Gamestop Corporation (NYSE:GME): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.11 and $30.04 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.12, notching a gain of 3.08% for the day. The total traded volume was 3,771,067 . The stock had closed at $30.19 on the previous day.

The stock has recorded a 20-day Moving Average of 14.28% and the 50-Day Moving Average is 12.4%. In a related news, Shern Stephanie M, director of Gamestop Corp., unloaded 1,769 shares at an average price of $31.19 on March 29, 2016. The total amount of the transaction was worth $55,175, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

GameStop Corp. is a multichannel video game, consumer electronics and wireless services retailer. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and a Technology Brands segment. The Video Game Brands segments include 6,206 stores, 4,138 of which are included in the United States segment. There are 331, 421, and 1,316 stores in the Canadian, Australian and European segments, respectively. Each of the Video Game Brands segments consists primarily of retail operations, with all stores engaged in the sale of video game systems, software and accessories. Its Video Game Brands stores sell various types of digital products, including downloadable content, network points cards and prepaid digital, among others. They also carry mobile and consumer electronics products, which consist primarily of mobile devices, tablets and related accessories. Its Technology Brands segment includes its Spring Mobile and Simply Mac businesses.

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