Home 2023 GameStop ($GME) Knightsbridge October Outlook

GameStop ($GME) Knightsbridge October Outlook

by John Heffernan

GameStop releases Q2 results

On Sept. 06, GameStop released its second quarter earnings. Revenue for the business came to $1.186 billion, a little less than it did at the same time previous year. Nonetheless, in the second quarter of 2022, GameStop’s net loss decreased from $105.4 million to $94.7 million.


  • Net sales were $1.164 billion for the period, compared to $1.136 billion in the prior year’s second quarter.
  • Selling, general and administrative (“SG&A”) expenses were $322.5 million, or 27.7% of net sales for the period, compared to $387.5 million, or 34.1% of net sales, in the prior year’s second quarter.
  • Net loss was $2.8 million for the period, compared to a net loss of $108.7 million for the prior year’s second quarter.
  • Transition costs related to European restructuring efforts were $4.3 million for the second quarter.
  • Cash, cash equivalents and marketable securities were $1.195 billion at the close of the quarter.
  • Long-term debt remains limited to one low-interest, unsecured term loan associated with the French government’s response to COVID-19.

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Market Summary

GAMESTOP CL A (Trade Price) is trending down and is at 32.5% below its 200-period moving average. In comparison to the average volatility over the last ten periods, volatility is comparatively normal. Our volume indications show that traffic enters and exits GME at a neutral speed, or about equal. Our trend predicting oscillators now have a pessimistic perspective on GME and have done so for the previous 19 sessions.

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish


Because prices closed lower than they opened, there was a black body. Three white candles and six black candles, for a net of three black candles, had been present during the previous ten bars. There have been 20 white candles and 28 black candles during the last 50 bars, for a net total of 8 black candles.

Bollinger Bands by MetaStock

GAMESTOP CL A (Trade Price) finished 23.5% above the bottom band on October 25, 2023.

Bollinger Bands are below average by 25.68%. There is no clear indication of future volatility or price movement based only on the breadth of the bands as they currently stand.

There aren’t any trading possibilities at this moment, according to the current price activity around the bands in comparison to the Relative Strength Index (RSI).

Summary of GameStop

GameStop Corp. is focused on offering games, entertainment products and technology through its stores and e-commerce platforms. It operates through four geographic segments: United States, Canada, Australia, and Europe. It offers a range of products in various categories, which include hardware and accessories, software, and collectibles. It offers new and pre-owned gaming platforms from the various console and personal computer (PC) manufacturers, which include the Sony PlayStation 5, Microsoft Xbox Series X, and the Nintendo Switch. Its accessories consist of controllers, gaming headsets, virtual reality products and memory cards. It also sells a variety of in-game digital currency, digital downloadable content (DLC) and full-game downloads. Its Collectibles consist of apparel, toys, trading cards, gadgets, and other retail products and its digital asset wallet and NFT marketplace activities. Its stores and ecommerce sites operate under the names GameStop, EB Games, and Micromania.

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