Investors are Betting Against GameStop Corp. (GME), Should You? - Tale of the Tape
August 26 2013 - 9:02AM
Zacks
Many investors appear to be quite
bearish on GameStop Corp. (GME),
especially if you look at the percentage of the float that is sold
short for this stock. Currently, 21.53%
of the float is sold short, suggesting an extreme level of
bearishness for GME.
However, it is worth noting that
earnings estimates have actually been moving higher for the
company, despite the pessimism. Thanks to these rising estimates,
we actually have a Zacks Rank #2(Buy) on
GME, so we clearly don’t believe in the negativity
surrounding this firm, and are instead looking for shares of
GME to move higher in the weeks
ahead.
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