The headline to start this week is an apolitical one — the massive, if short lived, move of one of the biggest video game retailers has been the big trend. That’s right, today we’re going to talk about what led to the GameStop stock surge — and what we can learn from it.
Starting last week, GameStop Corp. (NSYE: GME) began to take off. By midday today, the stock was up over $145 — that’s a 238% gain since last Thursday… even though the company is expected to lose money this year and next.
But that’s not the end of GME’s wild ride. As I write this, the stock is trading below $62.
What does it mean?
There’s always a lesson to be learned from big moves like this, and the GameStop stock surge is no exception.
Luckily for our WealthPress subscribers, most of our team saw this move coming on the indicators and were able to take advantage of it.
That’s not a long-term strategy, however.
Big parabolic moves like this are great in the short term, but you can’t get caught up in your FOMO like so many traders just did.
The GameStop stock surge shows us that the bull market is still going strong. Any stock that people catch wind of has the chance for big gains… for now. We’re nearing, and quickly, a blow-off top.
So, play the game that’s in front of you. If you can get in on these big overnight stocks early and make some money, go ahead. But don’t be left holding the bag when they go down.
While it can be profitable, that’s a hard strategy to keep up in the long-term.
With more earnings reports coming out, we could get a much better picture of what’s coming.
So sit down with my fellow trading experts Roger Scott, Adam Sarhan, Jeff Yastine and James West as we analyze the GameStop stock surge and talk about what’s to come.
P.S. Did you know that a few dozen stocks have gone up on the same calendar dates every year for over the past decade?
If you answered “No” to that question, you’re not alone!
Very few people have heard about these predictable calendar dates. But by tapping into them, you have the chance to lock in consistent winners all year long — no matter what’s going on in the broader markets!
Legendary traders Roger Scott and Tom Busby are pulling back the curtain on this proprietary stock “calendar,” and they wanted to make sure YOU had the chance to learn more about it.