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VRA Alert: Adding to GameStop (GME). VRA Market Update: Disinflation Continues, Rate Cuts Nearing. Tech Will Lead. Gold/Miners Outperforming. Bullish Analytics!

Good Tuesday morning. Yesterday we added two positions to the VRA Portfolio and we’re adding to our GameStop position this morning. VRA Alert: Average down on GameStop (GME). Enter an order to buy at market. Last: $21.75 We add ...

Posted On August 13, 20246 MIN Read
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Good Tuesday morning. Yesterday we added two positions to the VRA Portfolio and we’re adding to our GameStop position this morning.

VRA Alert: Average down on GameStop (GME). Enter an order to buy at market. Last: $21.75

We added GME to the VRA Portfolio on 6/14 @ $29.25 and averaging down here below $22 looks very attractive. We believe that we’ll soon learn how they intend to invest their  >$4 billion in cash, which is more than 50% of GME’s market cap ($7.6 billion). Of all the meme stocks GME is by far the best positioned to succeed, a theme that we believe will continue to play out in the “Roaring 2020’s”. 

GME has an excellent CEO, who understands both the markets and how to build a high flyer. On the charts, GME is coming off of heavily oversold levels, with very little sell-side volume on this move lower to the $22 range.

On the last major run up, GME hit $65 in May. We're looking for an explosive move higher ($50+) into what I expect will be news on how they pla...

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