GameStop Shares Thrive Despite Short Interest (GME)

Posted November 20th, 2009 by theStockMasters...
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nyse:gmeGameStop (NYSE:GME) shares have been on a tear since Thursday, now up 5.6% in two trading sessions. 
The Street was pleased GameStop's Q3 earnings call but as the share price rises the short float is also alive. 

GameStop Corp. (NYSE:GME) posted Q3 EPS of $0.32 yesterday beating the Street by $0.02 a share. Their revenue was released at $1.84B, which is +8.2% from the previous quarter and slightly up from Q3 2008 of $1.73B. The company expects that "Call of Duty: Modern Warfare 2" will serve be the bulk of holiday game sales.

Despite the fanfare, GameStop's short base (percentage of shares outstanding on loan) has continued on a steady climb over the past 3 months and is currently at 13% to 17%(depending on what site you check), representing 38% of the total shares available for borrowing.

Short squeeze or not?  You make the call.  With the holiday shopping season approaching GME is an intriguing trade.

 

Gamestop Corp
$ 25.27
GME
0.77

Short Interest (Shares Short)
20,368,000

Days To Cover (Short Interest Ratio)
3.5

Short Percent of Float
13.26 %

Short Interest - Prior
18,841,600

Short % Increase / Decrease
8.10 %

Short Squeeze Ranking™
9

% From 52-Wk High ($ 32.82 )
-29.87 %

% From 52-Wk Low ($ 16.91 )
33.09 %

% From 200-Day MA ($ 24.43 )
3.33 %

% From 50-Day MA ($ 25.44 )
-0.67 %

Price % Change (52-Week)
19.20 %

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