Wednesday, January 9, 2008
Morning Trade - GameStop
GameStop (GME) is set to announce guidance tomorrow. The stock has been killed the last few days on relatively no news. It has been down with the rest of the market as people are fleeing almost anything retail and connected to the consumer. However, I strongly believe that GameStop had a fantastic holiday and their guidance will look good. This should provide great stock price movement tomorrow. Be warned, if Gamestop comes out with bad news, this stock is going to come down. I just think you have more upside than downside at this point. If I can get in before the announcement, which is doubtful considering when I get up in the morning, I'll look at getting in. It closed at $55.11 today, and I think you might have $7 or $8 of upside, maybe $4 of downside right here.