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Is Wednesday a Good Day to Buy GameStop Corp. (GME) Stock?

Wednesday, December 11, 2019 09:50 AM | InvestorsObserver Analysts

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Is Wednesday a Good Day to Buy GameStop Corp. (GME) Stock?

The market has been down on GameStop Corp. (GME) stock recently. GME gets a Bearish score from InvestorsObserver's Stock Sentiment Indicator.

Click Here to get the full Stock Score Report on GameStop Corp. (GME) Stock.

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.

As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With GME Stock Today?

GameStop Corp. (GME) stock is lower by -14.22% while the S&P 500 has risen 0.11% as of 9:45 AM on Wednesday, Dec 11. GME is lower by -$0.93 from the previous closing price of $6.51 on volume of 1,245,332 shares. Over the past year the S&P 500 is higher by 18.89% while GME is lower by -57.82%. GME lost -$10.71 per share in the over the last 12 months.

To see InvestorsObserver's Sentiment Score for GameStop Corp. click here.

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