GameStop Stock News and Forecast: Ryan Cohen buys more $GME shares
5%, and other meme and retail favorites also performed strongly. This move into risk assets has been set in motion by a strong Fed statement last week when Chairman Powell said the US economy was strong enough to withstand rate hikes and he saw continued strength in economic growth and employment. Investors seem to believe in the Goldilocks scenario painted by the Fed – that of a soft landing and control of inflation. A quick look back through history predicts this is highly unlikely.
He also invited Ryan Cohen to his show to discuss BBBY and GME, saying he will give him ten minutes on each. This refers to Ryan Cohen taking a recent stake in BBBY through his investment company earlier this month. BBBY stock spiked sharply on the news to $30 before quickly retracing to $20. So will it be the same for GME? Insider buying is generally a stronger predictor of future performance than insider selling.This has certainly changed the technical picture.
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