GameStop (GME)

by | Dec 17, 2020 | Daily Trade Alert

After gapping lower, GameStop (GME) could refill its bearish gap, especially with gaming demand as strong as it has been. According to analysts at NPD, the U.S. gaming industry hit a new record high of $11.2 billion, a 24% year over year increase. Over the holiday season, NPD believes new gaming console sales could be boosted again.

“Surging demand indicates the United States could have the world’s largest video industry by revenue for the second half of 2020,” reports The Burn-In. “If that happens, the U.S. gaming market value will have topped China’s for two quarters in a row. That could mean America could hold onto the top gaming region crown for Q1 2021.”

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