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| Symbol | Sector | Return | Exposure | Trades | Last Trade | Status |
|---|---|---|---|---|---|---|
| GME | Specialty Retailers | -4.79% | n/a | 1 | 19-Sep-08 | Prior Holding |
21-Aug-08
Nice Rebound for GameStop Today
Holding Rationale for GME.
Gotta make this quick: I'm pretty impressed with today's rebound in GameStop (GME), which initially sold off this morning after reporting earnings results for the second quarter.
My take is that the selloff was the result of concerns over inventories, which increased due to a greater intake of used inventory. High inventories at a retailer usually spell trouble, but it's probably an exception here because at times in the past, GameStop hasn't had enough used product to go around.
In addition, there are rumors flying around about Xbox 360 price cuts, which I believe the console needs to generate momentum in a year without Halo 3.
I'm still long GME.
Tagged Stocks: GME
Posted at 10:41 in Holding Rationales | Permalink | Comments () | Top
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