Gamestop Volatility Increase Into Earnings Release
Gamestop will release its Q1 results after market close today. A few observations:
- The stocks Bollinger's increased markedly into June as activity and volatility increased.
- The 5 Day ATR (blue indicator) shows the impact of this increase, jumping from 14.06 on 24 May to the current reading of 38.97.
- Yesterday's candle shows that bulls took price up to 344.66 before losing control to the bears, with the stock closing at 300.00
A lot of attention has focused on GME, especially around its meme activity. Given the increase in volatility, ATR, and loss of control by bulls ahead of earnings make for a very compelling chart. We note that the video game retailer has dropped sharply 9 times a day after it has released its last 10 quarterly reports. The market is certainly looking at the release here with interest and there is certainly the prospect of reward. However, that the nature of the stock has changed given the retail volume of late, this reward must be measured against the increase in risk too.
- The stocks Bollinger's increased markedly into June as activity and volatility increased.
- The 5 Day ATR (blue indicator) shows the impact of this increase, jumping from 14.06 on 24 May to the current reading of 38.97.
- Yesterday's candle shows that bulls took price up to 344.66 before losing control to the bears, with the stock closing at 300.00
A lot of attention has focused on GME, especially around its meme activity. Given the increase in volatility, ATR, and loss of control by bulls ahead of earnings make for a very compelling chart. We note that the video game retailer has dropped sharply 9 times a day after it has released its last 10 quarterly reports. The market is certainly looking at the release here with interest and there is certainly the prospect of reward. However, that the nature of the stock has changed given the retail volume of late, this reward must be measured against the increase in risk too.
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