In the March 1 issue of Smart Investing in Turbulent Times, I made an error when describing GameStop’s (GME) stock price activity. Here’s the corrected information:
GME’s share price stabilized after the recent market correction, and has begun climbing. The stock could climb to 38 during March, depending on overall stock market activity, and GameStop’s March 24 earnings report. That’s a potential 20% short-term capital gain!
I’m sorry for the error! As long as we’re here, I want to add some good news:
GameStop rolled out its new Ship from Store process in all 4,100 of its U.S. stores in late February. Ship from Store gives employees an easy ability to locate a product for a customer at another GameStop location, and ship it to them quickly. Ship from Store has already increased GameStop’s multichannel sales by 10% for the month of February.
In addition to the increase in sales, Ship from Store benefits GameStop’s profitability, because fewer products will need to be marked down.
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