GameStop (GME) stock hits new 52-week high pre-market. Here is why. – Idaho Reporter

Technology

GameStop (GME) stock hits new 52-week high pre-market. Here is why.

Seems like times are changing for GameStop (NYSE:GME) stock investors, finally. In these uncertain times one thing is certain. Digital downloads will only increase from here.

And for a company with 67 million subscribers, that GameStop has through their loyalty program, the sky is the limit.

But having subscribers means nothing unless you have a team that knows how to use that leverage against the competition. And the team might be knocking on the GameStop doors as of yesterday.

RC Venture disclosed via SEC filing that it now beneficially owns 6,500,000 GME shares, constituting approximately 9.98% of the outstanding common stock. RC Ventures founder is Ryan Cohen. According to Bloomberg this billionaire entrepreneur wants to expand GameStop’s online retail business.

“During these conversations, the Reporting Persons (RC Ventures) expressed their willingness to become more involved in the Company under certain circumstances that (RC Ventures) believe are likely to produce the best results for all shareholders” the SEC filing stated. What are the “certain circumstances” required? This is the $64K question.

Often times short sale restrictions are synonymous with parabolic moves to the upside by creating an imbalance in buyers and sellers which can cause a MASSIVE short squeeze. GME has all the makings of a mother of all short squeezes considering 135% of the float is short

@bspresidente

GameStop shares have surged 45% Year-to-date. BlackRock Institutional Trust Company (NYSE: BLK) and Fidelity Management & Research Company LLC are the leading GME institutional investors holding 15.31% and 14.72%, respectively.

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