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Near Term, GameStop Could Do 'Very, Very Well'

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Near Term, GameStop Could Do 'Very, Very Well'

Ryan Craver was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

  • GameStop Corp. (NYSE: GME) has delivered stellar performance year-to-date, gaining 29 percent.
  • Retail Expert and Lamour Group Senior Vice President Ryan Craver said that though he's not "incredibly bullish" on the stock, it should perform in the near term.
  • GameStop could gain further since consoles are in their "cash cow" phase.

Lamour Group SVP Ryan Craver is not expecting any new gaming systems to be released any time soon – and that is bullish for GameStop. He called this the "cash cow" phase of the console refresh cycle. Therefore, GameStop should do "very, very well" in the short term.

If the horizon extends out further, Craver said that he is "not incredibly bullish" on the name, which is up 29 percent year-to-date. When extending the timeframe to the past 52 weeks, the stock is flat after recouping a 10.6 percent decline in December 2014.

In its latest earnings report, the company reported better-than expected results and lifted its full-year forecast. The stock initially gained before giving up those gains late in August. The price has since moved back to its pre-earnings levels.

 

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