Had a huge bounce today off the intraday low at $20.50 with strong upside throughout the day. The company is broken with lots of outside competition starting to make forays into its bread and butter of used games. Video games sales are taking a hit too, lately. I see another chance at a dead cat bounce coming soon. Anyone else have an opinion on this stock?
Looks good to me. The CFO recently picked up a nice chunk of shares at 22.48 and then an equal chunk a week later at 25.08. This one fits into my "If it's good enough for the CFO at 23.78, then I'm getting a bargain at 22.00" strategy. (I failed to act on this same signal when LVS's CEO gorged on millions of shares @ 2.95 end of March and I'm still smacking myself for it.)
Good luck on a dead cat bounce in June/July. The bussiness model is going to be phashed out long term. Console makers want all titles to be download content only which means no reselers needed. Many of the old titles can be downloaded now anyways. I take another look at this stock in end of October begining of November. Akuma
GME might be doom long term. Today it drop because Best Buy is getting into used video game. Walmart is already testing that as well. Long term, GME model looks like Blockbuster. In the short/ mid term, they will continue to make $. Other problem is that VG category has declined yoy in 2009
Agree on yoy drop in return the industry must go through another console wars to spur things up. E3 this year look promising but nothin short term. As far as individual publishers KNM can make some money when the new Castlevania comes out. Akuma
Video game industry is looking pretty rough. I think one promising technology on the horizon is OnLive. Currently it's private, but i'm hoping they go public. OnLive is a game changer.