GameStop (GME) Stock Witnessing Heavy Buying Interest: But Why?

Video game retailer GameStop Corp. (NYSE:GME) is currently working towards strengthening and growing its eCommerce business. That is expected to benefit the company’s overall business in the near term at least.

GameStop (GME) Stock Witnessing Heavy Buying Interest: But Why?

However, experts believe that the stock still remains considerably overvalued, and hence, the fruits of the growth might not actually reflect in its stock price. In such a situation, it might actually be a good idea for long-term investors to perhaps wait for the correction in the stock price before making any move.

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In order to further strengthen the e-commerce business, Ryan Cohen, the incoming chairman of GameStop, is trying to improve the customer services department and expand the magnitude of offerings. In addition to that, Cohen is also exploring the possibility of launching an online game trade-in initiative. It is also important to note that GameStop enjoyed a remarkable rally this year owing to Reddit investors. As the crypto sector cools, it might lead to investment in ‘Reddit stocks’.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.