I bought some more shares in Gamestop (GME) yesterday. The MACD has crossed up above the 0 lines on the 4-hour chart and I’m quite happy that things should start moving more gently up. As they were before the Reddit moves and short ladder. I’m reading some exciting things that Gamestop are planning with e-sports and I’m excited about the way things look for the company.
We have earnings on April 1st which I don’t expect to be good because of Covid 19. However, that will be priced into the stock price. I should think, so if the earnings are better than expected and the company has some great proposals in place, over time I think a target of the high during the Reddit move is definitely possible. Maybe giving good returns on my investment yesterday.
Although I initially invested in Gamestop to help stop the short ladder from succeeding, I did invest after the big move and I’m holding partly on a moral basis but also to see where the company goes in the future.
What always is at the back of my mind is that these companies employ staff. When hedge funds and other financial institutions do things to put them out of business, these are real people with real jobs who will end up looking for new work. Not an easy task when in lockdown.
Good luck guys. Here’s to a bright future and at only $45 they are a good value share. Note for beginner investors, if you use eToro you can purchase part of a share to get yourself started.
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