Bull of the Day: GameStop (GME)

GameStop GME is the world's largest video game retailer. The company offers the best selection of new and pre-owned video gaming consoles, accessories, and video game titles in both physical and digital formats.GameStop currently sports a bullish Zacks Rank #1 (Strong Buy), with its earnings outlook shifting notably bright over recent months.Image Source: Zacks Investment ResearchLet’s take a closer look at the company.GameStop CEO Dives InMost investors are familiar with GameStop thanks to the ‘meme stock’ mania a few years back, with the company reflecting the poster child of the bunch overall. Though shares are down nearly 20% year-to-date, CEO Ryan Cohen recently stepped in and purchased 500k shares at a total transaction value of roughly $10.7 million, perhaps a nice indication of his views on the long-term outlook.Though sales growth has been sluggish, the company’s margins picture continues to improve nicely over recent periods, as shown below.Image Source: Zacks Investment ResearchIt’s worth mentioning that the stock isn’t going to squeeze again like it did a few years ago, with the current short interest percentage well below the extremes we saw. Nonethless, the bullish EPS outlook for the stock paints a positive near-term picture, with its next set of quarterly results expected near the beginning of June.Image Source: Zacks Investment ResearchBottom LineInvestors can implement a stellar strategy to find expected winners by taking advantage of the Zacks Rank – one of the most powerful market tools that provides a massive edge.The top 5% of all stocks receive the highly coveted Zacks Rank #1 (Strong Buy). These stocks should outperform the market more than any other rank.GameStop GME is currently a Zack Rank #1 (Strong Buy).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GameStop Corp. (GME): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks